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Buzzi Unicem announces purchase of 50% stake in Ecotrade 06 September 2017
Italy: Buzzi Unicem has announced that it purchased a 50% stake in Ecotrade in early 2017. Ecotrade supplies industrial byproducts, such as fly ash and blast furnace slags, from power plants and steel mills to the cement industry with deliveries of over 2Mt/yr at its peak. The company is a member of the Italian Register of Environmental Operators and it has a national distribution network in Italy. Buzzi Unicem intends to use Ecotrade’s expertise to expand its operations internally.
South Africa: Canada’s Fairfax Financial Holdings has made an offer of US$154m to buy a stake in PPC on condition that the cement producer agrees to a merger with AfriSam. Fairfax will also invest a further US$309m to pay off AfriSam debts to aid the deal, according to the Cape Times newspaper. The proposed merger ratio is based on 58% PPC and 42% AfriSam.
PPC said to its shareholders that it had received two other offers from trade buyers about a ‘pan-African combination’ with PPC. It added that although it had yet to ‘fully consider’ the Fairfax proposal, the offer was ‘fundamentally’ undervalued.
Star Cement to invest US$156m on expansion plans 05 September 2017
India: Star Cement plans to invest US$156m towards building a new clinker grinding plant and expanding the clinker production line of its existing plant at Lumshnong in Meghalaya. The cement producer plans to build a new 1.5 – 2Mt/yr grinding plant for US$47m at Siliguri in West Bengal, according to the Hindu newspaper. It also intends to spend US$109m on doubling clinker production to 5Mt/yr at the plant in Siliguri by 2020. The investment will be funded internally and by loans.
ARM Cement revenue down by 20% to US$52m in first half of 2017 05 September 2017
Kenya: ARM Cement’s revenue fell by 20% year-on-year to US$52m in the first half of 2017 from US$65m in the same period in 2016. Its loss for the period grew to US$14m from US$2.6m. Cement production dropped by 3.93% to 3.18Mt in the half year of 2017 according to data from the Kenya National Bureau of Statistics reported by the Kenyan Star newspaper. Cement consumption also fell during the first five months of the year, by 2.34% to 2.5Mt.
Fuchs and DMG Mori launch technology partnership 05 September 2017
Germany: Fuchs Petrolub and DMG Mori have signed a contract for a technology partnership. The goal of the partnership is to jointly develop new lubricant solutions and services for machine tool applications. The plan also includes further progress in digitisation of production processes and condition monitoring of machines and plants.
"Use of the correct lubricant is decisive for optimal productivity when machine tools are used for intensive processing of components. In Fuchs, we are pleased to have acquired a globally-based technology partner, and together we want to continue expanding our technology- and service-excellence," said Christian Thönes, chairman of the executive board of DMG Mori.
DMG Mori manufactures machine tools with sales revenue of over Euro3.5bn. Fuchs develops, produces and distributes lubricants and related specialties.