Displaying items by tag: GCW172
China: Anhui Conch Cement Co Ltd has announced that its output and sales of its major subsidiaries hit record highs in September 2014.
Its Foshan subsidiary in Guangdong Province saw sales exceed 10,000t/day for five consecutive days in September 2014, with average sales stablising at 8000t/day. Anhui Conch claimed that the subsidiary's September 2014 output, sales, clinker and cement production all hit new highs in 2014, with output and clinker cement production reaching historical highs.
In Jiangxi Province, its Ganjiang subsidiary witnessed 67% year-on-year growth in sales in September 2014. Anhui Conch's production in Guangxi was also robust. Its Beiliu unit completed 104% of its production target in the third quarter of 2014, while its Tongling unit produced over 10Mt of clinker cement in the first nine months of the year.
Angola reaches self-sufficiency in cement
13 October 2014Angola: Cement production in Angola has reached 8Mt/yr, which was slightly more than the amount consumed, making Angola self-sufficient in terms of cement.
The China International Fund Ltd (CIF) plant is the country's newest cement facility. Production from the 4Mt/yr capacity cement plant enabled Angola to cease cement imports. The plant has two 5000t/day production lines, 145MW of power production capacity and three wind turbines.
Savannah Cement lines up new investments
13 October 2014Kenya: Savannah Cement, one of Kenya's newest market entrants, is set to build two new plants as it nears exhaustion of its current capacity, according to managing director Ronald Ndegwa. He said that Savannah Cement plans to invest US$250 – 350m for a clinker plant and a second mill to support its existing operations.
"We see ourselves running out of headroom in two to three years at our current mill, hence the new investment," said Ndegwa. "The clinker plant would use local limestone to make clinker."
Lafarge and Holcim about to request EU approval to merge
10 October 2014Europe: 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.
Dangote Cement to pay compensation for murder
10 October 2014Nigeria: 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.'
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."
LafargeHolcim merger approved conditionally in South Africa
09 October 2014South 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.
Gordhan attempts to be reinstated as CEO of PPC
09 October 2014South 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%.
Steppe Cement reports third quarter 2014 improvements
09 October 2014Kazakhstan: 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.