Global Cement News
Search Cement News
Ghana and Iran building US$30m cement plant in joint venture 15 November 2017
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.
Suez Cement to merge with Helwan Cement 15 November 2017
Egypt: The board of directors of Suez Cement has agreed to merge with Helwan Cement. It also agreed to sell a 5% stake in Tura Cement. Both Suez Cement and Helwan Cement are owned by HeidelbergCement. Suez Cement operates two plants at Suez and Kattameya. Helwan Cement runs a single plant at Helwan.
CRH expresses formal interest in bidding for PPC 14 November 2017
South Africa: Ireland’s CRH has submitted a formal expression of interest to PPC towards making a cash offer for a controlling stake in the South African cement producer. The board of PPC has given CRH until the week commencing 20 November 2017 to conduct due diligence and make a firm offer. PPC said that it is still considering an offer from Fairfax Financial Holdings with the aid of Investec. It is also in discussion with LafargeHolcim about a potential deal.
Wagners’ initial public offering threatened by rival cement grinding plant in Brisbane 14 November 2017
Australia: An initial public offering by Wagners has been threatened from plans by a rival company to build a cement grinding plant and terminal in Brisbane, Queensland. Wagners operates its own 0.8Mt/yr grinding plant in the city and commentators mentioned by The Australian newspaper have speculated that this increased competition locally could damage its aspirations. However, Wagners believes that the new plant is unlikely to be built. The 0.2Mt/yr project from brick and tile maker Brickworks, in a consortium with Newman Quarrying and the Neilsen Group, remains in the planning stage.
Cementos Argos sales revenue and earnings down so far in 2017 14 November 2017
Colombia: Cementos Argos’s sales revenue and earnings have fallen in the first nine months of 2017 due to poor performance in Colombia. Its sales revenue fell by 1.3% year-on-year to US$2.14bn from US$2.17bn in the same period in 2016. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 16.8% to US$352m from US$424m. However, its cement sales volumes rose by 15.4% to 12.2Mt from 10.5Mt.
“Thanks to the sound implementation of the BEST Program, we have made significant improvements in a particularly challenging year for our industry. By the end of this year, we are optimistic about the performance of all the markets in which we operate,” said Juan Esteban Calle, chief executive officer (CEO) of Cementos Argos.
By region, the cement producer reported growth in the US but problems in Colombia. It highlighted that cement and clinker imports to Colombia have fallen in 2017 due to rising tariffs. It also expects the local market to recover in 2018. In the Caribbean and Central America the group’s performance suffered from extreme weather events, although it managed to grow its revenue. It also reported that its cement plant in Puerto Rico is still not operational.