Displaying items by tag: Eurocement

Russia: Soyuzcement, the national cement manufacturing union, has appointed Vyacheslav Shmatov as its chair. He is currently the general director of Eurocement Group and has worked in the cement industry for over 11 years. He was previously the head of BaselCement.

Uzbekistan: Russia-based Akkerman Cement has acquired a 98.6% stake in Akhangarancement. Gazprombank provided a loan to the subsidiary of USM to support the deal after previously supporting Akkerman Cement’s acquisition of its Gornozavodsk plant in 2018. Eurocement started selling its majority stake in Akhangarancement in early 2021 prior to its own acquisition by Smikom later in the year. No value for the latest Akkerman Cement deal has been disclosed.

“The investment in Akhangarancement, like all USM investments in Uzbekistan, is primarily aimed at the development of this country, the small homeland of Alisher Usmanov, the main shareholder of USM. All the profit that will be generated here will remain in Uzbekistan and will be directed to the socio-economic development of the republic. We see great potential in this. A growing population, demand for quality new housing, and in the long term support for consumer demand through mortgage lending, all this will contribute to the growth of cement consumption,” said Anton Selyavko, chairman of the board of directors of Akkerman Cement. He added that growth in Uzbekistan might not be easy due to production overcapacity and high levels of imports from Kazakhstan, Kyrgyzstan and Tajikistan but that Akkerman Cement had experience of this from the Russian market.

Founded in 2002 Akkerman Cement was previously known as the South Ural Mining and Processing Company. It operates two integrated cement plants in Russia, at 2.3Mt/yr unit at Novotroitsk and a 2Mt/yr unit at Gornozavodsk, and 12 terminals including sites at Ekaterinburg, Izhevsk, Kazan, Moscow, Orenburg, Perm, Samara, Tumen and Ufa. The company also runs metal and lime divisions. Akhangarancement reportedly started a new 2.5Mt/yr dry process production line in late 2021.

Russia: Kavkazcement has announced that it will use its Kavkaz cement plant's annual shutdown in the winter of 2021 - 2022 to upgrade the plant's raw materials mills and kiln lines. The Eurocement subsidiary plans to spend US$7.14m on the work, which also includes the replacement of burners in kilns 2 and 4 and the installation of new drying drums, compressors and electrostatic precipitators. The upgrade will increase the 3Mt/yr plant's cement capacity by 10% and its clinker capacity by 30%. Managing director Vladimir Sokoltsov said that the upgrade focused on minimising the plant's environmental impacts.

Sokoltsov said “We will prepare the plant for the high construction season in April 2022. Our products are used in the construction of the largest industrial, transport and municipalinfrastructure in southern Russia." He continued "We understand that the quality of life of a large number of people depends on the pace of our work.”

Russia: Mikhailovsky Building Material Works (Mikhailovsky KSM), part of Smikom Group, has received conditional approval to acquire Eurocement. Interfax has reported that the Federal Antimonopoly Service made its approval on a number of conditions including the requirement that Mikhailovsky KSM submits to it a quarterly performance report. If prices rise by more than 5% in a month then the company will be required to explain why to the regulator. The producer will also be obliged to fulfil any existing contracts and preserve the technological capability of its production base.

Eurocement currently holds a 35% market share in Central district, the region where Mikhailovsky KSM produces its building materials.

Uzbekistan: Cyprus-based Lamanka Enterprises has acquired an 84% stake in Akhangarantsement. The value of the deal was US$52.5m, according to the Ria news agency. In early March 2021 Russia-based Eurocement put its 84% share in the Uzbek cement producer on sale. The company operates the second largest integrated plant in the country.

Russia: Holdings company Smikom has won the auction to buy Eurocement from Sberbank. RBC News has reported the value of the deal as Euro2.1bn. Smikom, formerly known as BaselCement, will acquire a 100% share of Cyprus-based GFI Investments, which controls Eurocement Group. The final terms of the deal are still being agreed, according to sources quoted by the Russia-based media group. Neither Sberbank nor SmiKom have commented on the matter.

Sberbank acquired a 100% stake in GFI Investment in November 2020 following an increase in its debts in mid-2020. An electronic auction process for company then started in February 2021.

Eurocement is the largest cement producer in Russia operating 10 plants domestically and abroad.

Uzbekistan: Russia-based Eurocement has begun the auction for its 84% stake in Akhangarancement. Sputnik News has reported the total value of the stake as US$40.8m. In February 2021, Sberbank announced the start of a sale for the cement producer and its subsidiaries with the announcement of a buyer planned for April 2021.

Russia: Eurocement has expanded its cement range with a new CEM-II cement produced with the siliceous sedimentary rock tripoli. The group said that the product is suitable for use in settings requiring high durability, for example marine hydraulic structures and underground construction.

Sales and marketing vice president Alexey Kharchenko said, “Launching the innovative cement CEM-II/A-P 42.5N is the company's timely response to the request of the largest buyers and their need for a universal, economical and high-tech product for the construction industry in Russia. We focus on long-term work and trusting relationships with the client.” He added that the product has superior carbon index values compared to Ordinary Portland Cement (OPC), in line with Cement Industry Sustainable Development Initiative (CSI) recommendations.

Russia: Eurocement recorded earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$182m in 2020, up by 6% year-on-year from US$172m. Sales remained consistent with 2019 levels at US$674m.

Interfax reports that the Auction House of the Russian Federation partly disclosed the group’s 2020 results in a presentation related to the sale of its parent company, GFI Investments, and related debts. Potential investors have until 15 March 2021 to submit price indications. The sale is scheduled for conclusion in April 2021.

Russia: Eurocement has won a tender to supply up to 150,000t of cement to PIK Group. Its Voronezh and Mikhailovcement plants will supply CEM I and CEM II products respectively. PIK Group is one of the largest residential building companies in Russia. Eurocement said that the contract is one of the largest direct contracts it has signed and that it would ensure production in the first half of 2021.