US: GCP Applied Technologies’ net sales from its Specialty Construction Chemicals division grew by 5.9% year-on-year to US$165m in the third quarter of 2018 from US$156m in the same period in 2017 due to higher volumes in its Concrete and Cement businesses. Overall, the company’s net sales rose by a similar percentage. It manufactures a range of additives for cement production under the Opteva and Tavero brands.

Kenya/Tanzania: The administrators of ARM Cement have written off loans worth around US$210m to Maweni Limestone, a subsidiary in Tanzania. The decision by the PricewaterhouseCoopers (PWC) administrators has significantly reduced the cement producer’s assets to US$140m from US$362m, according to the Business Daily newspaper. In a report PWC alleges that ARM Cement had treated its debt to Maweni Limestone as a performing loan, despite the fact that the subsidiary had repeatedly defaulted on it, effectively misleading investors as to the value of the company. The write-off has left ARM Cement’s creditors, including the UK government-backed CDC Group, in negative equity to a value of around US$24m.

Other irregularities that have been discovered amount to US$1.5m. These issues include alleged outstanding director pay, payments to mystery customers and a payment of US$0.4m for ‘fixtures and fittings.’

ARM Cement owns an integrated cement plant at Tanga and a grinding plant in Dar es Salaam that is currently not in operation. It is also building a grinding plant in Tanga that remains unfinished. The cement producer was placed into administration in late August 2018.

Honduras: President Juan Orlando Hernández has asked local cement producers to offer cement at a discount for use in government projects. The government and the two main producers have formed a commission to determine how to implement the request, according to La Tribuna newspaper. However, Juan Carlos Sikaffy, the head of the Honduran Council of Private Enterprise (COHEP), descirbed the issue as ‘delicate’ given the taxes the cement companies pay and the jobs they create.

Egypt: The shareholders of Helwan Cement have approved the sale of its white cement plant in Minya Governorate to Emmar Industries. Helwan Cement, a 99.5% subsidiary owned by HeidelbergCement and Suez Cement, previously said that the sale was part of its plan to restructure the business and improve its financial position.