September 2024
Colombia: Cementos Argos has launched energy saving measures that could contribute close to 10% of the energy saving goals of the Colombian national government. The cement producer has joined the energy savings campaign promoted by the government by taking additional measures at its plants and offices that can help conserve this important resource.
Cementos Argos intends to deliver excess energy from its self-generation plants of about 30MW to the domestic electrical network and limit the use of its 16 cement mills during peak hours, which will represent savings of about 38MW. In addition it will maximize its use of flexitime and day work to limit the use of electrical energy at its administrative offices. With these measures the company hopes to save the equivalent of the consumption of close to 100,000 homes per day and of close to 130,000 homes during peak hours.
“We are convinced that by joining our efforts, we can multiply results. That is why, if all companies and families put their best foot forward, we can all contribute to energy saving and create habits that allow us to preserve resources that are fundamental to our planet’s sustainability,” said Jorge Mario Velásquez, CEO of Cementos Argos.
Russia: Eurocement and Sberbank CIB, Sberbank’s corporate and investment banking business have agreed on conditions for restructuring the company’s loan portfolio. The restructuring involves postponing the repayment of loans worth a total of US$592m and US$360m for up to six years, as well as optimising interest rates for the company’s loan portfolio at Sberbank.
“Sberbank CIB is a strategic partner of Eurocement. This agreement will help us cut debt servicing costs and minimise the influence of negative macroeconomic factors on our company,” commented Mikhail Skorokhod, President of Eurocement. The conditions for restructuring the debt portfolio will enable Eurocement to take a more flexible approach to financing its operational activities and help it achieve strategic goals.
Shanshui Cement warns of ‘significant’ loss in 2015 16 March 2016
China: Shanshui Cement has issued a profit warning, predicting a significant loss in 2015 compared to 2014. It has blamed the impending financial result on poor market demand for cement, industry production overcapacity and management distractions with legal proceedings the company has undertaken concerning the company and its subsidiaries.
In late January 2016 Shanshui Cement defaulted on a US$270m bond. The default followed a battle for control of the company between Tianrui Cement, its biggest shareholder, and the Zhang family, its second-largest shareholder and former owners.
Philippines: Republic Cement has inaugurated its new cement grinding mill at its Norzagaray cement plant in Bulacan. The US$19m expansion will add 0.85Mt/yr of cement production capacity to the plant, according to the Philippines Star.
“This capacity expansion initiative reaffirms Republic Cement’s commitment to support our country’s growth through the provision of top quality cement and building materials,” said Renato Sunico, president of Republic Cement. The new mill will also decrease the plant’s energy consumption.
Republic Cement, formerly Lafarge Republic, is owned by a joint venture of Aboitiz Equity Ventures and CRH.
India: Burnpur Cement has signed an agreement with Saurabh Ganguly as a brand ambassador for the company for three years from 11 March 2016. Ganguly was the former captain of the Indian cricket team. As the brand ambassador for the company he will endorse the product and brand of the cement producer to help increase of sales.
Johan Cnossen resigns from KHD 16 March 2016
Germany: Johan Cnossen has resigned as the Chief Executive Officer and a member of the Management Board of KHD with immediate effect from 11 March 2016. He cited personal reasons. Other Management Board members will take over his responsibilities for an interim period.
Eastern Cement starts trial operation of new cement mill 15 March 2016
Saudi Arabia: Eastern Province Cement has started the trial operation of its new cement mill, which is expected to continue for three months until mid-June 2016. Commercial operation of the new mill will begin in the second quarter of 2016, the company said in a bourse statement. It added that the relevant financial impact is difficult to determine at this stage as it depends on market supply and demand.
India: Opposition politicians in Meghalaya have warned the state government over management concerns regarding the Mawmluh Cherra Cement plant. The state owned cement plant stopped production in mid-2014. The local government has since announced that it intends to loan the company US$12m towards paying off bills from an upgrade project started in 2005 including loan payments, power bills and salary costs, according to the Indian Telegraph. After upgrades are completed the plant will have a cement production capacity of 600t/day.
"I know in the past the government used to appoint Tom, Dick and Harry to manage the MCCL. However, if we want the factory and other public sector units of the state to be free from ailments, we need a strong management and run it professionally," said former state chief minister Donkupar Roy at the state assembly. He also demanded that the head office of the factory be moved to Sohra.
Bamburi Cement profit rises by 46% to US$83.5m in 2015 14 March 2016
Kenya: Bamburi Cement’s pretax profit has risen by 46% year-on-year to US$83.5m in 2015, according to Reuters. Its turnover rose by 9% to US$386m. The rise in profit was attributed to higher sales, investment income and currency gains.
"Turnover increased... driven by increased demand in the key domestic markets in Kenya and Uganda resulting mainly from growth in large infrastructure projects and contractor segments, despite some slow down in domestic market in the last quarter," said Bamburi in a statement.
Tibet Tianlu to build US$154m cement plant in Lhasa 14 March 2016
China: Tibet Tianlu has signed a contract worth US$154m to build an integrated cement plant in Lhasa, Tibet. The civil engineering company said in a statement to the Shanghai Stock Exchange that it will build the 4000t/day plant in partnership with the Tibetan Building Materials Company. The scope of contract includes building the production line, from limestone crushers to finished cement and auxiliary production facilities. The project will also include a waste heat recovery and flue gas denitrification systems. Construction is due to start in April 2016 with completion scheduled for September 2017.