Global Cement News
Search Cement News
Saudi Arabia cuts cement export duties 07 July 2017
Saudi Arabia: The trade ministry has cut the export duty on cement by 50%. It has also cancelled all export tariffs on steel for two years to encourage local producers, according to Reuters.
Bhutan: A broken gearbox at a coal mill at the Penden Cement Authority plant in Gomtu has reduced its production. The plant has had intermittent mechanical issues with the gearbox in one of its two coal grinding mills since April 2017 leading to a breakdown in May 2017, according to the Kuensel newspaper. Then in June 2017 a similar problem occurred with the main drive gear in its other coal mill. The plant has been producing cement using imported clinker since then although it shut down completely for several days in late June 2017.
So far the cement producer has been unable to procure replacement parts. It has also been reported that the company has had difficulty importing clinker from India following the introduction of the Goods and Services Tax (GST).
Nigeria: Alhaji Abdulsamad Isyaku Rabiu, the chairman of Bua Group, has promised that cement prices will soon fall. He made the comments after meeting with Yemi Osinbajo, the vice-president of the country, according to the This Day newspaper. He cited a fall in the price of low pour fuel oil (LPFO) and more favourable foreign exchange rates. He added that the three major cement producers were working ‘hard’ to reduce prices. However, he did not reveal a date for the reduction.
Timken to buy India’s ABC Bearings 07 July 2017
India: Timken India, a subsidiary of the US-based Timken Company, has entered into a definitive agreement to acquire ABC Bearings, a manufacturer of tapered, cylindrical and spherical roller bearings and slewing rings. The deal has been structured as a merger of ABC Bearings into Timken India. It is expected to take at least six months to complete as clearances from various authorities are sought.
"Timken is a leader in the growing Indian bearing market, and the acquisition of ABC Bearings will expand our capacity, our customer base and our locally produced product breadth," said Richard G Kyle, Timken president and chief executive officer.
Pacific Cement resumes production in Fiji 06 July 2017
Fiji: Pacific Cement has resumed operations at its cement plant. The plant originally stopped operation in late April 2017 due to mechanical failures, according to the Fiji Times newspaper. Chief executive Sowani Tuidrola said that the plant will run at 60% capacity until the end of July 2017 whilst it waits for a new gear. A new Trunnion Gear Assembly is scheduled to arrive in late July 2017 and it will be fitted during a two-week shutdown in late August 2017. Normal production levels are expected to resume from 1 September 2017.