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LSR completes cement plant divestment to Eurocement 26 January 2015
Russia: LSR Group has completed the sale of its cement plant in Slantsy, Leningrad to Eurocement. Following the closure of the deal, Eurocement has acquired full operating control over the facility. The plant, which began operations in September 2010, operates a 5000t/day clinker line and a 1.86Mt/yr cement line.
LSR reiterated that the divestment is part of its strategy of focusing on projects 'with the highest returns on invested capital and the fast-growing real estate development business.' As a result, LSR has significantly reduced its debt and made it 100% Ruble-based.
Qatari investors plan US$500m cement plant in Ethiopia 26 January 2015
Ethiopia: A Qatari business group plans to invest US$500m in Ethiopia. The group met with Ethiopia's president to discuss their investment plans, which include a cement plant in Dire Dawa, as well as other industrial facilities. No specifics have been announced as to the capacity of the cement plant.
Ecuador: Cementera Nacional (33.5%) has formalised a strategic partnership with Cementos Yura (63.5%) to expand its installed production capacity for cement and clinker at the Riobamba cement plant. The US$230m investment project will extend over the next 40 months. Ecuador presently imports more than 1Mt/yr of clinker. The expanded Riobamba plant will have a 2400t/day of clinker production capacity, allowing foreign exchange savings of US$75m.
Cementos Andino Dominicanos suspends 170 staff 23 January 2015
Dominican Republic: Cementos Andino Dominicanos has temporarily suspended around 170 workers. Company executives have said that the decision was made to save financial resources and use them instead to speed up completion of its new clinker plant.
CRH confirms interest in LafargeHolcim divestments 23 January 2015
Europe: Responding to the recent press speculation, Ireland-based building materials group CRH plc has confirmed that it is in discussions with Lafarge and Holcim regarding the potential acquisition of certain assets being disposed of by Lafarge and Holcim in advance of their proposed merger.
In December 2014, The European Commission, the European Union's antitrust authority, said that it approved the proposed merger of French cement giant Lafarge SA with Swiss peer Holcim Ltd, subject to asset sales by both companies in regions where their activities overlap.
The European Commission or EC's approval of the merger was conditional upon the divestment of Lafarge's businesses in Germany, Romania and the UK. Holcim was required to divest its operations in France, Hungary, Slovakia, Spain and the Czech Republic.