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Vortex announces representative agent in Germany 15 January 2016
Germany: Vortex Global Limited, a European solids and bulk handling components company, has appointed the team of Adams Industrievertretungen as its exclusive agent in Germany. The company has a strong presence throughout Germany, which includes locations in Gernsbach, Mönsheim, Heilbronn, Augsburg and Ludwigshafen.
"Adams Industrievertretungen has valuable knowledge in the food, chemical, plastic, cosmetic, mineral and pharmaceutical industries," said Laurence Millington, International Sales Manager of Vortex. "They are dedicated to offering our clients the best processing solutions on the market. We believe Adams Industrievertretungen will be an excellent strategic supplier for Vortex."
Vietnam expects 74 - 75Mt of cement consumption in 2016 15 January 2016
Vietnam: Around 74 – 75Mt of cement is expected to be sold in 2016, some 3Mt more than that in 2015. In 2016, no new plants will be put into operation, as the capacity of current plants will meet demands.
According to Le Van Toi, Head of the Building Materials Department under the Ministry of Construction, total output of cement will rise in 2016, as a plant of the Cong Thanh Cement Group increased its capacity by 3.6Mt/yr in late 2015.
In 2015, two cement projects were put into operation, raising the number of production lines to 76 with a total designed capacity of 81.5Mt/yr. Over 72Mt of cement is estimated to have been sold in 2015, up by 3% compared to 2014. Some 16.3Mt was shipped abroad, down by 17.3% year-on-year, but domestic consumption rose by 11.1% to 56.5Mt.
Ecuador: Hormicreto has ordered two calciner burners and a hot gas generator for its swing mill application, for alternative liquid fuels firing, with a thermal capacity of 5.2MW, including the complete the fuel pumping, heating and valve train, from FCT Combustion for its cement plant in Cuenca, Ecuador.
Oman Cement profit improves 15 January 2016
Oman: Oman Cement Company reported a net profit of US$12.2m in the fourth quarter of 2015, a 172% year-on-year rise and a 208% quarter-on-quarter rise. Sales revenues were US$37.7m, a rise of 4% year-on-year.
The company did not provide further details on cement unit sales or prices, but it is possible that the company may have been able to sell a larger-than-expected quantity of cement during the quarter.
HeidelbergCement issues Euro625m of debt certificates 15 January 2016
Germany: HeidelbergCement has successfully issued debt certificates in the amount of Euro625m, further strengthening its financing structure. Due to high demand, it was possible to significantly increase the issue volume from Euro400m to Euro625m.
The newly-issued debt certificates, with a maturity date of 20 January 2022, consist of two tranches; one tranche with a floating rate and the other with a fixed rate. The fixed rate tranche yields at 1.85%/yr and the floating tranche at 1.5%/yr over six months Euribor.
The proceeds will be utilised to pre-fund the upcoming Italcementi acquisition and thereby reduce the volume of the bridge financing from Euro3.3bn to Euro2.7bn. The refinancing needs in the bond market decline to below Euro2bn, correspondingly.
Issuance of the debt certificates was secured with the assistance of Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen and Raiffeisen Bank International.
As previously reported, the bridge financing should be refinanced by free cash flow, the sale of production sites and the issuance of bonds. The reduction in the volume of bridge financing thus also reduces the need for refinancing in the bond market by the same amount.