CCNN receives clearance for merger with Kalambaina Cement
Nigeria: The Cement Company of Northern Nigeria (CCNN) says it has received clearance by the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) for its proposed merger with Kalambaina Cement. Following the merger all of the assets, liabilities, licences and undertakings will be taken over by the CCNN, according to the Punch newspaper. The completion of the proposed merger is subject to the approval of the shareholders of the CCNN and Kalambaina Cement and the final regulatory approvals from SEC, the NSE, Federal Inland Revenue Service and the Federal High Court.
Government irregularities reported into setting up of plants by DG Khan and Bestway Cement in Chakwal
Pakistan: A report issued by the Punjab Anti-Corruption Establishment Lahore (ACE) to the Supreme Court has found irregularities committed by government departments in connection to the setting up of cement plants by DG Khan and Bestway Cement in Chakwal. The investigation followed a probe by the Supreme Court into water usage by cement companies near the Katas Raj Temples, according to the Dawn newspaper. The allegations include a delay by the district government of Chakwal, industries, environment, mine and mineral departments into declaring so-called ‘negative’ areas that would have otherwise prevented the plants being built between 2003 and 2008. Other findings of the report include irregularities into how both companies acquired land and a disregard for environmental protocol.
OCL India and Dalmia Bharat merger moves ahead
India: The proposed merger between OCL India and Dalmia Cement East has been approved by the board of directors of OCL India. Following the amalgamation the company will be known as OCL India.
CIFA celebrates 90th anniversary
Italy: CIFA has celebrated its 90th anniversary with an update to the company museum, the launch of a special edition vehicle-mounted pump and a series of special events. The museum, based at the company headquarters in Senago, has introduced news areas dedicated to hybrid technology and carbon fibres. The special edition pump products are available for the K42L, K45H and the new K47H models and include special anniversary colours, celebratory plaques and a 90th anniversary logo. The company was specialises in concrete pumps was originally founded on 7 July 1928 by Carlo Ausenda.
Growth in Indian cement industry fuels price speculation
India: Shailendra Chouksey, president of the Cement Manufacturers Association (CMA), has warned that cement prices could rise by up to 10% due to growing fuel and transportation costs. The local industry grew by 14% in the first half of the 2018 – 2019 year, according to the Press Trust of India.
"There is a very dire need to correct the pricing. In the last year we have seen 60-70% rise in the cost of fuel. To recover at least some portion of this increase, we need to increase the prices of cement," said Chouksey. He added that cement prices had been ‘almost stagnant’ since around 2011. However, he conceded that the industry still has surplus capacity.
Emami Cement starts initial public offering for US$135m
India: Emami Cement has started the process to file an initial public offering (IPO) for US$135m. It plans to issue equity shares worth US$37.5m and offer another US$37.5bn to existing shareholders, according to the Business Standard newspaper. Proceeds from offering will be used for debt repayment and general corporate purposes. The cement producer has a production capacity of 5.6Mt/yr from three plants in eastern India. It is also planning to open a new 3.7Mt/yr plant in April 2019.
Pakistan: Maple Leaf Cement’s new 7300t/day clinker production line at its Iskanderabad cement plant is expected to start in the second quarter of 2019. The project has a cost of just below US$200m, funded through bank loans, a right issue and internal revenue. Denmark’s FLSmdith is supplying the equipment and Descon Engineering holds the contract for civil construction and mechanical erection work. 70% of civil work and 30% of plant erection was reported completed by the end of September 2018.
Regional limestone ban hits Nepalese cement producers
Nepal: A limestone ban in the Katari municipality has hit Saurya Cement and Cosmos Cement. The local government has banned cement producers from extracting and transporting limestone on tax grounds, according to the Himalayan Times newspaper. However, Saurya Cement said that the authorities had stopped the transportation of limestone without consultation. Krishnaraj Dulal, the director Cosmos Cement, added that the company was not required to pay tax locally as it was paying the Department of Mines at the national level.
Cementa to electrify Slite plant by 2030
Sweden: Cementa plans to electrify its cement plant at Slite in Gotland as part of its Cemzero project. The subsidiary of Germany’s HeidelbergCement plans to make its plant CO2 neutral by 2030, according to Helagotland. However, the plan is limited by a lack of technology to fully electrify large-scale manufacturing at the site. The company also holds concerns about where it would source larger quantities of electricity.
Cement salvaged from grounded ship in Philippines
Philippines: Around 4500 bags of cement have been salvaged from the MV Star Liberty that ran aground in early September 2018. The ship ran aground at the San Jose de Buenavista Port due to the strong waves caused by the southwest monsoon, according to the Philippines News Agency. The ship was carrying a consignment of 20,000 bags at the time. The salvaged cement has been stored at a dump in Barangay Pantao. The salvage team are hoping to complete the removal of the cement from the ship by the end of October 2018 and then the ship may be transported back to Cebu for repairs.