Displaying items by tag: Joint Venture

Canada: CSL Group has agreed to buy 50% of Eureka Shipping, SMT Shipping agreement for CSL to acquire 50% of Eureka Shipping, SMT’s pneumatic cement vessel business. The new joint venture will allow Eureka and CSL to expand services to customers in the seaborne cement powder and fly ash transportation markets around the world. CSL’s Australian cement shipping business is not included in the joint venture.

“The joint venture represents an important step in CSL’s strategy to increase its presence in the global construction material sector,” said Louis Martel, President and chief executive officer (CEO) of CSL Group.

The companies say that the partnership is a strong strategic fit, leveraging the companies’ respective strengths in the shipping and handling of dry bulk cargos. There will be no change in the day-to-day management and operation of vessels in the Eureka fleet. The transaction is subject to regulatory approval and is expected to be completed by the end of June 2018.

Eureka Shipping operates a fleet of self-unloading cement carriers in the Baltic Sea, the Atlantic Ocean, the Mediterranean Sea, the Caribbean and Asia. SMT Shipping Group has, over the past 30 years, built a fleet of about 45 vessels through a number of joint venture companies operating in various bulk commodities markets, focusing on geared bulk carriers, floating storage/transhipment terminals and belt-unloaders.

Finland: Cargotec has signed an agreement with JCE Invest to establish a joint venture, Bruks Siwertell Group, specialised in dry bulk handling. The new joint venture will own Siwertell and Bruks Holding. Cargotec will own 48% of the shares in Bruks Siwertell Group and JCE Invest will own the remaining share.

"This joint venture supports Cargotec's strategy to focus on container ports, heavy industrial segment and logistics. Siwertell's business is outside these core focus areas, with different customers, customer locations and limited synergies with the rest of our businesses. By joining forces with JCE Group, we are able to create a company that will be a significant player in the bulk material handling with a globally competitive and specialised product portfolio," said Antti Kaunonen, president of Kalmar, part of the Cargotec group.

Siwertell is a supplier of ship unloaders, road-mobile unloaders, port-mobile unloaders, ship loaders, mechanical and pneumatic conveying systems, and bulk terminal solutions. Bruks specialises in mechanical-engineering and equipment supply for the bulk materials handling industries.

Vietnam: Tata International Singapore has signed a memorandum of understanding with Vissai Cement Group to form a joint venture company in to use the port of Vinh. The deal is expected to create a distribution network for coal, according to the Press Trust of India. The company will also be responsible for Vissai Cement’s coal imports. The joint-venture is expected to benefit from the port’s location as a key gateway for trade into and out of Laos.

Colombia: Cementos Argos has set up a subsidiary, Granulados Reciclados de Colombia (Greco), to recycle construction material waste. The new company’s operations will be based at its Cota plant in Cundinamarca, according to La Republica newspaper. The operation is expected to process over 1Mt/yr of construction waste material. The company is a joint operation with local industrial conglomerate Fanalca and South Korean lighting equipment manufacturer Daeyang.

Ghana/Iran: Ghana and Iran are building a 0.6Mt/yr cement plant at the Dawa Industrial Enclave near Tema in Ghana. Vice President Mahamadu Bawumia commissioned construction work at the project, according to the Ghana News Agency. The plant is scheduled for completion in late 2019. The project is a joint venture between the two countries, with Iran holding a 90% stake.

Oman: Raysut Cement has confirmed its plans to build a new cement plant via a joint venture with Oman Cement. The cement producer announced its plans in its first quarter financial report for 2017. The new company will be called Alwasta Cement Company. As announced previously the new project will be dependent on a feasibility report. It also announced that its project with Barwaaqo Cement Company to build a terminal in Somaliland, an autonomous region of Somalia, is progressing and that work on a new packing plant in underway.

India: Redecam Group and Isgec Heavy Engineering have started a joint venture called Isgec Redecam Enviro Solutions in Noida, Delhi. The new company will provide for flue gas treatment systems for the cement, power and metals industries.

“Air pollution is one of the major environmental issues India and the rest of Asia face today and it is a serious problem with the major sources being industrial emission and biomass burning, vehicle emissions and traffic congestion. In the effort to reduce the country’s air pollution, Redecam and Isgec aim to build a strong business in Asia, drawing upon Redecam’s global expertise combined with the skills and knowledge of Isgec, a strong partner headquartered in India,” said Barry Downing, chief executive officer of Redecam Group.

Italy’s Redecam Group is an engineering company that serves the air pollution control industry around the world. India’s Isgec Heavy Engineering is a general engineering company with references in the cement, chemical, textile, power, oil, gas and sugar industries.

Bangladesh: The government owned Bangladesh Chemical Industries Corporation (BCIC) has signed a memorandum of understanding with Saudi Arabia’s Al Rajhi Group to build a new production line and a captive power plant at the Chhatak Cement plant. The project is a joint venture between the companies and it will be run as a public-private partnership, according to the Financial Express newspaper. The new cement line and power plant will have a production capacity of 1.5Mt/yr and 330MW respectively. Industries minister Amir Hossain Amu, BCIC secretary Hasnath Ahmed Chowdhury and managing director of Al Rajhi Company for Industry & Trade Yousif Al Rajhi signed the agreement in Bangladesh on 20 October 2016.

China: FLSmidth and Northern Heavy Industries Group (NHI Group), based in Shenyang, have signed an agreement to enter into a joint-venture, with an equal amount of shares, for the design and supply of mining equipment targeting the mid-market segment. The joint venture will be established with its own board of directors and management under the name NHI-Fuller (Shenyang) Mining (NHI-Fuller), which will financially report results as part of the Minerals Division in FLSmidth. Subject to obtaining regulatory approval, it is anticipated that NHI-Fuller will be operational in the first quarter of 2017.

"In 2014, we announced that part of our strategy in the Minerals Division was to enter the expanding mid-market for mining equipment. With the NHI Group, we have now found a perfect industrial partner for this quest," said Group Executive Vice President of the Minerals Division in FLSmidth, Manfred Schaffer.

The NHI-Fuller products will be designed for the needs of mid-market or capital expenditure sensitive customers in the mining industry and will be marketed under the NHI-Fuller brand name. While the initial focus will be to supply crushing products, the goal of the joint venture will be to become the leading mid-market mining equipment supplier for other product lines as well.

Oman: Oman Cement has registered a new joint-venture company with Raysut Cement to operate in the Duqm Special Economic Zone Authority. The new Company is named Al Wusta Cement Company and it will set up a new cement plant following a feasibility report.