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News 08 September 2020

08 September 2020

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Uttar Pradesh government approves three grinding plant plans

08 September 2020

India: The state government of Uttar Pradesh has granted approval to three planned grinding plant projects with a total value of US$115m. The Hindustan Times newspaper has reported that Kanodia Cement ’s Amethi grinding plant will cost US$39.6m, Eco Plus Cement Industries’ Prayagraj grinding plant will cost US$38.6m and Eco Plus Cement Industries’ Mirzapur grinding plant will cost US$37.1m.

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Bureau of Indian Standards warns of product description rule changes

08 September 2020

India: The Bureau of Indian Standards (BIS) has warned producers to avoid the use of objective product descriptions which may subsequently be proven as false claims. The Economic Times newspaper has reported that the advice follows an internal circular of the Ministry of Consumer Affairs, Food and Public Distribution detailing plans for a tightening of standards around the use of objective terms such a ‘corrosion resistant,’ ‘weather proof’ and ‘damp proof’ by cement producers.

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Cemex España requests authorisation for Cemex Latam Holdings bid

08 September 2020

Colombia: Cemex España has requested authorisation by the Colombian Financial Superintendency (SFC) to make offers to buy the shares of all Cemex Latam Holdings shareholders with a view to taking over a 100% stake in the company. El Ceo News has reported that after receiving authorisation Cemex España must place a bid within five working days.

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Suez Cement publishes first half 2020 results

08 September 2020

Egypt: HeidelbergCement subsidiary Suez Cement recorded a net loss of Euro38.0m in the first half of 2020, up by 99% year-on-year from 19.1m in the first half of 2019. The company made sales worth Euro145m over the period, down by 18% from Euro177m. The causes of the decline were market saturation and reduced demand in the short term due to the coronavirus lockdown from 19 March 2020 to 27 June 2020.

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Asia Cement becomes sole owner of Taiwan Chiahui Power Corporation

08 September 2020

Taiwan: Asia Cement has bought all shares in Taiwan Chiahui Power Corporation belonging to co-owner Electric Power Development Company (J-Power). Electronic News has reported that the two companies have jointly owned Taiwan Chiahui Power Corporation since December 2002. The deal awaits ratification by the Taiwan Ministry of Economic Affairs Investment Commission.

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