Displaying items by tag: Singapore

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.

Namibia: The Development Bank of Namibia (DBN) says it will consult the government about its minority stake in Ohorongo Cement following the purchase of a majority share in the cement producer by Singapore’s International Cement Group. International Cement Group acquired a 69.8% share in Ohorongo Cement from Germany’s Schwenk Namibia in March 2019, according to the Namibian newspaper. The DBN said that it originally invested in Ohorongo Cement to promote economic development in Namibia.

Singapore: International Cement Group is planning to build new cement plants in Central Asia, Africa and South-east Asia to complement China’s Belt and Road Initiative. The company, formerly known as Compact Metal Industries, has held a ceremony to mark its listing at the Singapore Stock Exchange, according to the Business Times Singapore newspaper.

The company holds a 65% stake in a 1.2Mt/yr cement plant in Tajikistan. This unit’s production capacity was recently upgraded to 1.35Mt/yr. In mid-2018 it said it was building a new plant in Kazakhstan. This project is scheduled for commissioning by the end of 2019. In late 2018 the group said it had failed to buy a majority stake in a partially-built cement plant at Salamanga in Mozambique. In March 2019 the group agreed to buy a majority stake in Namibia’s Ohorongo Cement from Schwenk Namibia for US$104m.

France: HGH Infrared Systems is expanding its brand name across its subsidiaries around the world. It says it is developing its brand image and communication strategy to suit its position as a global leader in the optronics market as its sales grow. Asia Infrared Systems, HGH’s subsidiary in Singapore, and Electro Optical Industries (EOI), will take on the HGH identity.

In 2016 HGH acquired EOI, a producer of electro optical test equipment based in Santa Barbara, California in the US. HGH’s and EOI’s products include SPYNEL thermal cameras, blackbody sources, integrating spheres, electro-optical test benches, NVD testing solutions and thermographic scanners. They cover the whole spectrum of light from visible to infrared radiation.

‘’By opting for a harmonised universal brand, we are strengthening our corporate culture and our shared commitment across our subsidiaries. This common identity is built upon quality care, customer service and innovation values, and opens door to a dynamic and highly promising future,’ said Thierry Campos, the chief executive officer (CEO) of HGH Infrared Systems.

India/Singapore: Shree Cement has closed down Shree Global, its subsidiary in Singapore. It said it had struck the company off the Registrar of Companies in early March 2019. Previously, the cement producer said that the subsidiary was being used to trade coal, petcoke, minerals, bags and other commodities.

Kazakhstan: A new 1.2Mt/yr cement plant being built at Kerbulak in Almaty region is set to be commissioned in 2019. The joint Kazakh-Singaporean project has an investment of US$145m, according to Kazakh TV. The unit is located close to road and railway links. Once completed the plant is expected to supply the Almaty region and neighbouring regions.

Singapore/Sri Lanka: The Ceylon Institute of Builders has awarded Tokyo Super Portland Pozzolana Cement (PPC) with a 'Green Mark.'

The Green Mark is a Singaporean product label, accredited internationally by the Building Construction Authority (Singapore), the Green Building Council (Singapore), the Chartered Institute of Builders (UK), as well as locally by the Ceylon Institute of Builders, the Ministry of Environment, the Ministry of Construction and the Central Environmental Authority. Tokyo Super PPC is the only cement brand with a sustainable accreditation and is frequently recommended by sustainable building consultants as, 'The highest quality product, with minimal environmental impact, on the market.'

Tokyo Super PPC was given the green accreditation for the following reasons:

- Its local manufacturing is powered by carbon-neutral biomass energy that is locally-generated with the repurposing of agricultural waste;
- It is a renewable energy project in compliance with United Nations Framework Convention on Climate Change (UNFCCC) standards and is awarded carbon credits annually;
- It uses coal fly ash from Norochcholai power plant, recycling locally-generated waste in a useful manner;
- It minimises the energy required in cement grinding by using fly ash;
- It minimises CO₂ emissions by substituting clinker with non-limestone based material, thereby reducing the energy requirement for kilning;
- It has International Certification in Environmental Management Systems (ISO 14001) and Quality Management Systems (ISO 9000) and was the model from which local standards were set (SLS 1427);

Tokyo Super PPC, although less expensive than Ordinary Portland Cement, is not just the greener choice but also the stronger one. It offers as much as 10% higher strength after 98 days.

Japan/Singapore: Taiheiyo Cement, which operates a cement terminal in Singapore through Singapore Cement Manufacturing (SCMC), a joint venture with Singapore-based Hong Leong Asia Ltd, has completed a new 24,000t cement silo at SCMC's cement terminal in Singapore.

Infrastructure investment, including subway and highway construction, is driving the robust cement market in Singapore and fuelling demand for low-heat-type cement as a way to prevent thermal cracking in concrete structures with large cross-sections (so-called mass concrete).

Coinciding with the construction of SCMC's new silo, Taiheiyo Cement has developed a new type of cement specifically formulated to satisfy Singapore's local needs. The new export-oriented product, which is manufactured using Portland cement and admixture ingredients such as fly ash from coal-fired power plants, qualifies as type CEM II as defined by Singapore's cement quality standard (SS EN 197-1). The new cement has greater resistance to thermal cracking due to its low-heat and low-shrinkage characteristics, higher long-term strength, improved workability and lower alkali-silica reactivity. It is also certified under the Singapore Green Labelling Scheme (SGLS) and therefore carries a Green Label in recognition of its environmental friendliness, which was demonstrated during a series of tests carried out with the cooperation of local users and experts. SCMC also used the new cement in the construction of its new silo and in the process verified its performance.

Taiheiyo plans to manufacture the product using fly ash that has been selected, formulated and managed with the cooperation of domestic Japanese power companies. It is expected to contribute to the effective use of fly ash from newly-built coal-fired power plants in Japan. Going forward, SCMC plans to use the new silo for CEM II, complementing its Ordinary Portland Cement and expanding its business through the supply of new cement that meets local needs.

Singapore: Lafarge and Holcim have received approval from the Competition Commission of Singapore (CCS) to merge their businesses in the country.

Holcim (Singapore) and Lafarge Cement Singapore overlap in the manufacture and supply of ready-mix concrete and grey cement. Under Singapore's Competition Act, firms are not allowed to merge if the resulting entity could lead to a substantial lessening of competition in any market. However, Lafarge and Holcim argued that they would not have substantial market power after the merger. Grey cement is also imported to Singapore by Holcim primarily for its own consumption and is supplied to third parties only to a limited extent, they said.

After a public consultation exercise, the CSS issued its decision that 'The transaction is unlikely to lead to substantial competition concerns in Singapore.' This was because the firms are not major players in Singapore, despite being major names in overseas markets. The CSS added, "There is significant localised competition in the relevant overlapping markets in Singapore."
There are also alternative suppliers that can meet any additional demand for ready-mix concrete, thereby limiting the market power of the merged companies. With a number of suppliers in the market, cooperation among firms to raise prices will be harder as well, according to the CSS.

UK/Singapore: The private equity firm CVC Capital Partners is in discussion with Singapore's Government Investment Corporation (GIC) about a combined bid for assets being sold by Holcim and Lafarge as they prepare to merge, according to Sky News. CVC is also understood to be talking to other state investment funds about the proposed deal.

At least two other private equity groups have been formed to bid for the divestments that Holcim and Lafarge are preparing to sell. Blackstone has teamed up with Cinven and the Canada Pension Plan Investment Board. BC Partners and Advent International are also preparing a joint bid. Initial offers are understood to be due in September 2014.