Kenya: The creditors of ARM Cement have approved a sale of a subsidiary or assets of the company to reduce its debt by US$190m. The creditors have not disclosed which subsidiary or assets will be sold, according to Reuters. One of the administrators from PricewaterhouseCoopers said that 102 of the creditors, representing US$95m, had supported the decision. However, two creditors had rejected the plan. The cement producer was placed into administration in late August 2018.

Germany: KHD has been awarded a contract to upgrade Thomas Zement’s grinding plant in Erwitte. The engineering, procurement and construction (EPC) contract includes process, mechanical, electrical and civil engineering services.
Mechanical and electrical equipment supply includes a roller press for raw material grinding, a static v-separator, an SKS dynamic separator and a KHD HKF process fan.

The deal also includes structural steel supply, erection and installation services for mechanical and electrical equipment as well as structural steel and supervision services for erection, installation and commissioning. KHD is also responsible for the tie-in of the new equipment to the existing raw material and product transport, as well as gas handling and treatment systems.

The erection and installation of the new grinding plant will be carried out during operation of the production line followed by a minimal possible switch over period. No value for the deal has been disclosed.

Uzbekistan: Kukon Euro Qurilish Materiali, a joint venture between China’s Beijing Triumph International Engineering and local company Juydam Tamir Qurilish, is building a US$153m cement plant at Shursuv in the Fergana region. The unit will also be used to manufacture gypsum wallboard, according to the Trend News Agency. The unit will have a cement production capacity of 1Mt/yr and is scheduled for completion in late 2020.

Peru: Cemento Inka is planning to build a 0.6Mt/yr cement grinding plant in Pisco. The US$25m project is scheduled to be completed by late 2019 or early 2010, according to the Gestión newspaper. The board of the build materials producer plans to make a decision on building the unit by the end of 2018.

Portugal: France’s Chryso has acquired Euromodal. The company was set up in 1986 and manufactures a range of construction chemicals from a plant located near Porto. It also offers services ranging from technical support, the formulation of mix designs and on-site support. Francisco Araujo, CEO of Euromodal, will become the general manager of Chryso in Portugal. No value for the transaction has been disclosed.

“We are delighted to integrate Euromodal into our group and look forward to working with the talented people who will become part of the Chryso business,” said Thierry Bernard, president and chief executive officer (CEO) of Chryso.
“The local production, the world-class local concrete laboratory and strong technical service will benefit our customers. After our recent acquisitions in Italy and in Ireland, this move demonstrates our willingness to enhance our positions in geographies where customers see benefits in value-added solutions and differentiated offerings.”

India: The Calcutta High Court has rejected a plea for an injunction by the owners of MP Birla Group into part of the acquisition process of Century Textiles and Industries by UltraTech Cement. The Lodha family holds a significant stake in Pilani Investment and Industries Corporation, which, in turn, owns a stake in Century Textiles and Industries, according to the Daily News and Analysis newspaper. It had argued that the demerger process as part of the sale of Century Textiles and Industries would seriously affect the remaining parts of its business. UltraTech Cement received approval from the Competition Commission of India (CCI) for the acquisition of the cement business of Century Textiles and Industries in late August 2018.

Bolivia: The head of Sociedad Accidental Imasa Polysius, a joint-venture created by Polysius and Imasa, Zubim Andrade, says that a cement plant that company is building in Potosí is more than 45% complete. The half-way mark is expected to be met by the end of October 2018, according to the El Potosí newspaper. Over 900 people are working on the project and most of the equipment for the unit has arrived. The 1.3Mt/yr cement plant has a cost of around US$240m.

Iran: The price of cement packaging for 50kg cement bags has risen by 117% since late 2017. Mohammad Ali Bod, a member of Iranian Cement Industry Employers Association, warned that some cement plants in the country would have to stop operating if the situation was not resolved, according to the Trend News Agency.

India: UltraTech Cement’s income rose by 15% year-on-year to US$2.37bn in the six months to the end of September 2018 from US$2.05bn. However, its net profit fell by 24% to US$137m from US$180m. The cement producer blamed its profit drop on mounting energy and logistics costs coupled with local currency depreciation effects. Its cement sales volumes rose by 28% to 31.9Mt from 25Mt.

Belarus: 0.2Mt/yr or 10% of Belarus’ cement exports will be available for purchase via the Belarusian Universal Commodity Exchange (BUCE) from the start of 2019. The country hopes to increase its range of target markets as much as possible by using the commodity exchange, according to the Belarusian Telegraph Agency (BelTA). Local cement companies hope to increase sales via the commodity exchange if it is a success

A test batch of cement was sold via BUCE in September 2018. Six buyers from Russia, Ukraine and the Baltic states took part in the trading session and submitted bids for buying a total of 4000t of Ordinary Portland Cement. The trading session lasted for slightly more than one hour. A Lithuanian company bought 256t of cement as a result.