Global Cement News

UK/Ireland: Sean Quinn has bought ‘substantial’ tracts of limestone-rich land in Cavan and Fermanagh on 99-year leases, giving him sole extraction rights, over the past three and half years since his final severance with Quinn Industrial Holdings in mid-2016, according to the Sunday Times. The purchases may have been aimed at strengthening his position in his campaign to re-attain control over the company. It has stated that it has succeeded in supplementing its on-site limestone supply with material from further afield. “These materials are of a higher quality,” said a Quinn Industrial Holding spokesperson.

Nigeria: Chinese-owned FabCom has unveiled a new fibre cement board at a ceremony celebrating the fifth anniversary of its presence in Nigeria. The Sun has reported that the company will manufacture 5Mm²/yr at its fibre cement board plant in Ambuja, which will be operational before 1 January 2021. FabCom managing director Liuxing Wang praised the product’s environmental friendliness, noting its durability, sound insulation, fire and water resistance and multi-use workability. FabCom’s investments in Nigeria total US$190m and have created 200,000 jobs, the company says.

Bangladesh: The Institute of Cost and Management Accountants of Bangladesh (ICMAB) has presented its Best Corporate Awards 2019 to 34 companies across 12 categories. The cement award winner was LafargeHolcim Bangladesh for its ‘excellent corporate governance.’ HeidelbergCement Bangladesh came second and Premier Cement Mills third.

India: Ireland’s CRH is planning to sell its 50% stake in My Home Industries, according to sources quoted by investor information services group VCCircle. It is reportedly in talks to sell the stake to My Home Group, the company that owns the other half of the subsidiary. My Home Industries operates two integrated plants and two grinding plants with a production capacity of 10Mt/yr. It also runs two ready-mixed concrete plants.

In November 2019 CRH was reported to be looking to sell its assets in the Philippines. At the time of its second quarter results in 2019 chief executive officer (CEO) Albert Manifold described emerging markets as a small part of the group’s business with, “too much disruption, too much dislocation, too much uncertainty.” He added that the company’s focus was on its developed market businesses.

Pakistan: Punjab’s Minister for Industries & Trade Mian Aslam Iqbal says that the provincial government has lifted a ban on the cement industry after 12 years. He made the statement following a meeting reviewing investment in the cement sector and installation of new plants in the province, according to the Business Recorder newspaper. He also expressed regret that obtaining no objection certificates (NOC) for new projects had taken too long and that the local government has set up a special section of its industries department to hasten the process.