Displaying items by tag: GCW403

India/China/UAE: UltraTech Cement is looking for buyers for the cement production assets of Binani Cement in China and the UAE. It purchased Binani Cement’s share in joint-ventures in these countries, according to the Hindu newspaper. In China it runs a 3Mt/yr integrated plant and in the UAE it operates a 2.5Mt/yr grinding plant. However, before it was acquired by UltraTech Cement, Binani Cement was unable to sell its stake in its Chinese unit. Attempts to sell the plant in UAE are also expected to be difficult due to market overcapacity.

Senegal: The government plans to introduce a new tax on cement to support a house-building campaign. President Macky Sall said that the tariff would increase the cost of bags of cement, according to the Agence de Presse Sénégalaise. He added that the country has the cheapest cement in the region.

Gabon: Cement production rose by 42% year-on-year to 0.49Mt in 2018 from 0.34Mt in 2017. Sales rose at a similar rate to 0.49Mt, according to Infos Gabon. The Ministry of Economy attributed the growth in production and sales to the government’s decision to suspend imports of cement in mid-2017.

Algeria: Ciment Lafarge Souakri (CILAS) has started exporting a consignment of 30,000t of cement to Cameroon. The operation was handled via the port of Annaba, according to Radio Algeria. It is the cement producer’s sixth large-scale export operation to another Africa country. The subsidiary of LafargeHolcim is using Lafarge Trading to supply logistical support.

Colombia: Ordinary Portland Cement production grew by 4% year-on-year to 3.05Mt in the first quarter of 2019 from 2.93Mt in the same period in 2018. Data from DANE, the Colombian statistics authority, shows that deliveries to the local market increased slightly, by 3%, to 2.94Mt.

Philippines: Republic Cement has held a rally assembling over one thousand construction workers at its Norzagaray Plant to aim for five million safe man hours. The cement producer has reached 4.5 million man hours at its expansion projects at Bulacan, Batangas and Iligan. This includes no lost-time injuries or fatalities.

“Safety is not a punishment. It’s not a punishment to wear your helmet, boots, or harness. It’s a gift of life - the life of your fellow workers and of your family,” said
Roy Ruedas, Project Lead at Aboitiz Construction.

Malaysia/Singapore: Switzerland’s LafargeHolcim has signed a deal to sell its 51% stake in Lafarge Malaysia to YTL Cement for US$396m. Lafarge Malaysia operates three integrated cement and two grinding plants. With the divestment, LafargeHolcim will fully exit the Malaysian market. LafargeHolcim has also signed an agreement with YTL Cement Singapore for the divestment of its entire 91% share in Holcim Singapore.

YTL Cement is part of YTL Corporation, a Malaysian infrastructure conglomerate, which is active in cement production, construction, property development and utilities. The deal is expected to be completed within the second quarter of 2019. It is subject to approval by regulatory bodies.

Uzbekistan: President Shavkat Mirziyoyev has approved a list of companies with state-owned shares to be sold to foreign investors. It includes the country’s 35.9% stake in Kyzylkumcement. Other sectors the government is divesting its shares in include insurance, banking, power generation, oil & gas and soft drinks.

India: Shree Digvijay Cement’s income rose by 2.5% year-on-year to US$63.6m in the year to 31 March 2019 from US$62.1m in the same period in 2018. Its profit fell to US$0.3m from US$1.93m. Notably, its power and fuel costs grew by 29% to US$22.3m during the year. For the last quarter of the reporting year its income fell by 11%. Private equity company True North purchased a majority stake in the cement producer from Brazil’s Votorantim Cimentos in April 2019.

Vietnam: SCG Vietnam has launched its SCG Super Cement product. The product is intended as a ‘premium’ multi-purpose cement for home owners, developers, contractors and architects, according to the Vietnam Economic Times newspaper. It can be used in a variety of applications including brick-laying, plastering and concrete work for structure and foundations.