05 September 2017
South Africa: Canada’s Fairfax Financial Holdings has made an offer of US$154m to buy a stake in PPC on condition that the cement producer agrees to a merger with AfriSam. Fairfax will also invest a further US$309m to pay off AfriSam debts to aid the deal, according to the Cape Times newspaper. The proposed merger ratio is based on 58% PPC and 42% AfriSam.
PPC said to its shareholders that it had received two other offers from trade buyers about a ‘pan-African combination’ with PPC. It added that although it had yet to ‘fully consider’ the Fairfax proposal, the offer was ‘fundamentally’ undervalued.
Star Cement to invest US$156m on expansion plans 05 September 2017
India: Star Cement plans to invest US$156m towards building a new clinker grinding plant and expanding the clinker production line of its existing plant at Lumshnong in Meghalaya. The cement producer plans to build a new 1.5 – 2Mt/yr grinding plant for US$47m at Siliguri in West Bengal, according to the Hindu newspaper. It also intends to spend US$109m on doubling clinker production to 5Mt/yr at the plant in Siliguri by 2020. The investment will be funded internally and by loans.
ARM Cement revenue down by 20% to US$52m in first half of 2017 05 September 2017
Kenya: ARM Cement’s revenue fell by 20% year-on-year to US$52m in the first half of 2017 from US$65m in the same period in 2016. Its loss for the period grew to US$14m from US$2.6m. Cement production dropped by 3.93% to 3.18Mt in the half year of 2017 according to data from the Kenya National Bureau of Statistics reported by the Kenyan Star newspaper. Cement consumption also fell during the first five months of the year, by 2.34% to 2.5Mt.
Fuchs and DMG Mori launch technology partnership 05 September 2017
Germany: Fuchs Petrolub and DMG Mori have signed a contract for a technology partnership. The goal of the partnership is to jointly develop new lubricant solutions and services for machine tool applications. The plan also includes further progress in digitisation of production processes and condition monitoring of machines and plants.
"Use of the correct lubricant is decisive for optimal productivity when machine tools are used for intensive processing of components. In Fuchs, we are pleased to have acquired a globally-based technology partner, and together we want to continue expanding our technology- and service-excellence," said Christian Thönes, chairman of the executive board of DMG Mori.
DMG Mori manufactures machine tools with sales revenue of over Euro3.5bn. Fuchs develops, produces and distributes lubricants and related specialties.
Tarmac awarded Bronze Corporate Partner status by the Institution of Chemical Engineers 05 September 2017
UK: Tarmac has been presented with Bronze Corporate Partner status by the Institution of Chemical Engineers (IChemE). A presentation was made at the company’s Tunstead cement plant.
The Bronze award from IChemE demonstrates a commitment by Tarmac’s cement and lime business to advance the profession through various activities. A IChemE Accredited Company Training Scheme (ACTS) currently runs from the site, and has five graduates enrolled across the business. The scheme provides engineers with practical skills training relevant to their roles at Tarmac, and puts steps in place in order for them to achieve Chartered Chemical Engineer status.
“We’re delighted to accept this status and absolutely recognise importance of working with organisations with a focus on science, technology, engineering and mathematics (STEM) subjects. We strive across the whole of our business to provide training and development opportunities for our employees, and this is a fantastic opportunity to take this practice a step further with official recognition,” said Mike Eberlin, managing director of Tarmac’s cement and lime business.