September 2024
US: Mitsubishi Cement is seeking to expand its import terminal at the Port of Long Beach, California, for the more efficient handling of operations. Port officials have released a draft report reviewing the potential environmental impacts of the project being proposed by Mitsubishi Cement. A hearing for the draft is set to place take on 22 October 2014.
Mitsubishi Cement wants to reconfigure a cement import facility on Pier F into the space that was formerly used by the Pacific Banana facility. The project calls for adding storage for 40,000t of products, new ship unloading equipment and a new air pollution control system. It would also feature up to two additional truck-loading lanes that would be built underneath the silos. Each new silo would be up to 60ft in diameter and 160ft tall and would have a storage capacity of 10,000t and be capable of being loaded directly from a ship.
If approved, construction could begin as early as 2016, according to Lou Baglietto, spokesman for the project. Baglietto said that while the company is expanding its footprint, it is not expanding its throughput. The project would allow Mitsubishi to handle operations more efficiently. However, the move would position Mitsubishi for expected rises in cement demand as more residential and public works project come online.
"The economy is cyclical and I think there will be a demand for that," said Baglietto. "We want to be ready for that."
Dangote Cement to pay compensation for murder 10 October 2014
Nigeria: Following the intervention of the National Human Rights Commission (NHRC), the management of Dangote Cement plant, Gboko Local Government Area, Benue State, has agreed to pay compensation to the families of seven dead and numerous injured victims who were attacked by army officers attached to the cement plant on 18 March 2014, following a dispute between one youth and a guard.
Chairman of the Investigations Panel, Tony Ojukwu, said that the investigations had concluded that the incident infringed on the rights of the youths. He confirmed that the management of the plant wrote a letter of satisfaction to the commission accepting to pay the compensation as agreed. Ojukwu disclosed that the victims 'have not given their consent that the amount given to them as compensation be revealed.'
Lafarge and Holcim about to request EU approval to merge 10 October 2014
Europe: Lafarge and Holcim are about to request approval from the European Commission (EC) for their planned merger, according to Lafarge CEO Bruno Lafont.
"We are indeed very close to EU notification," said Lafont. He added that talks with Brussels had been constructive and that the companies were 'well on track' to close the deal in the first half of 2015.
Steppe Cement reports third quarter 2014 improvements 09 October 2014
Kazakhstan: Steppe Cement Ltd has reported third quarter 2014 revenues of US$4.21m, higher than the US$39.8m it reported in the same period of 2013. Cement sales volumes of 582,429t were achieved during the third quarter 2014, up by 16% from the third quarter of 2013.
Gordhan attempts to be reinstated as CEO of PPC 09 October 2014
South Africa: Former PPC CEO Ketso Gordhan has met most of the major PPC shareholders in his battle to be reinstated to the top executive job, saying that he did not regret suddenly leaving the group. Gordhan shocked the market on 22 September 2014 when he resigned from PPC with immediate effect. He subsequently unsuccessfully petitioned the board to reinstate him, which spurred him on to lobbying shareholders directly to reappoint him.
"I have met with most shareholders and the issue is in their hands," said Gordhan. "Clearly, I would like to be back in my job — I would like to finish what I started." PPC said that he had 'regrettably resigned' over 'differences of opinion with the board, regarding board procedures for the approval of certain decisions.' Gordhan later said that he had lost confidence in the board for not dismissing an executive that he said was undermining company strategy. The company had only two executives, Gordhan and finance director Tryphosa Ramano.
Gordhan has canvassed the following shareholders: Public Investment Corporation (10.99%): State Street (10.86%): Lazard (6.88%): Foord (3.41%). Gordhan has not yet met PPC's black economic empowerment shareholders, including the PPC SBP Consortium Funding SPV, which holds 6.6%.
LafargeHolcim merger approved conditionally in South Africa 09 October 2014
South Africa: The Competition Commission (CC) has approved the merger of Holcim and Lafarge in South Africa. Although Lafarge has a significant presence in South Africa, Holcim's only interest is in a stake it holds in Afrisam.
"The commission found that Holcim's shareholding interest in Afrisam, a cement producer in South Africa, would present anti-competitive effects post-merger," said the CC. "This is due to the fact that the shareholding creates an undesirable structural link between Holcim and Afrisam in that it provides Holcim with access to Afrisam's commercially-sensitive information."
The commission found that the shareholding by Holcim in competitors would create a platform for collusion in the cement industry post-merger. The CC said that this was compounded by the history of collusion in the South African cement industry and the high concentration levels and barriers to entry in the cement industry.
"To address the competition concerns, the commission has approved the merger on the condition that Holcim divests of the shareholding in Afrisam within a period of three years after approval of the merger," said the CC.
Century Textiles' Manikgarh cement plant II commences production 08 October 2014
India: Century Textiles and Industries Manikgarh cement plant II has commenced production as of 26 September 2014. The plant has 2.8Mt/yr of cement production capacity.
Suez Cement to close Tourah Factory 1 08 October 2014
Egypt: Suez Cement Co has voluntarily agreed to close its Tourah Cement Factory 1 to comply with the local government's policy to reduce the number of facilities that do not meet environmental standards. Suez Cement has instead chosen to invest US$69.9m in environmental mitigation measures at its Tourah Cement Factory 2.
JSW eyes up Kerala for new business 08 October 2014
India: JSW cement, the largest producer of slag cement in India, is reported to be eyeing up the coastal state of Kerala as a location into which to expand. The company is aiming at 9 - 10% growth from states in southern India in 2014, according to Pankaj Kulkarni, Director of JSW Cement Ltd.
It says that the focus will be on selling its Portland slag cement (PSC), which is highly-resistant to corrosion both from the soil and sea. This perfectly matches conditions in Kerala, which has a long coastline and severe monsoon.
The company is also looking at expanding its clinker production capacity in the near future by setting up a plant in Chittapur in Karnataka. Growth in cities like Chennai, Hyderabad, Bangalore and Kochi will lead the way in the Southern market, according to Anil Kumar Pillai, CEO of JSW Cement Ltd. He added that JSW Cement, part of JSW Group, has made significant investments into cement manufacturing and will continue to add capacity to serve the burgeoning cement market.
Argos gets green light to access more cash 08 October 2014
Colombia: Directors at Cementos Argos have given the green light for an ordinary bond issuance of up to US$495m to be used as working capital and to swap financial liabilities. The company will have three years to carry out the issuance, although it will most likely do so in the coming months.
Previous issuances by Cementos Argos, such as those carried out in 2012 to raise US$495m, have helped the firm expand in Colombia, Latin America and the United States. Argos revealed in August 2014 that it is considering buying Holcim and Lafarge assets in the region, particularly Mexico and Brazil, and has announced that it will also build a US$450m plant.