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Cemex Nicaragua wins safety recognition 17 November 2014
Nicaragua: Cemex Nicaragua, has been awarded a national prize as a leading business for its industrial safety management procedures. The award was given by the National Council for Work Safety and Hygiene and refers to the firm's Canal plant in southwest Managua. The firm is building a new production unit in the northeast section of the same city at the moment. This new unit is due to begin operations early in 2015.
Vietnamese exports up by 15% 17 November 2014
Vietnam: Vietnam could earn as much as US$1bn via the export of 20-21Mt of cement and clinker in 2014, 15% more in value terms compared to 2013, according to the Vietnam Cement Association. Preliminary statistics from the Customs General Department showed that the shipment of cement and clinker increased in both volume and value in January-October, reaching nearly 18Mt over 10 months.
Tran Viet Thang, Director General of the Vietnam Cement Industry Corporation (Vicem), which holds 34% the Vietnamese cement sector's output, said that Vicem exported about 1.8Mt of cement and clinker in the first three quarters of 2014 and plans to sell a further 1Mt in the final three months of the year.
Titan's third quarter 2014 profit boosted by weak Euro 14 November 2014
Greece: Titan has announced that its third quarter net profit more than tripled, helped by foreign exchange gains from a weakening Euro.
Titan's net profit rose to Euro27.6m in the third quarter of 2014, compared to Euro7.2m in the same period of 2013. A weaker Euro against the Dollar and the Egyptian Pound led to foreign exchange gains of Euro21m in the quarter. In 2013, Titan had currency losses of Euro4.5m.
Sales rose by 2% year-on-year to Euro309m, with growth in the US and Greece more than offsetting a decline in Egypt, where natural gas supply shortages hurt the operation of its plants. Titan said that it was optimistic on its performance for the rest of 2014, citing a continuing recovery in the US and expectations for higher cement consumption in Greece for the first time in seven years.
TOJCHIN grinding plant in Vahdat to be completed in April 2015 14 November 2014
Tajikistan: All of the necessary equipment will be delivered to Tajikistan for a cement plant that is being built at the Chormaghzak Pass in Vahdat Township before the end of 2014, according to Abduhalim Qodirov, the director general of the Tajik-Chinese joint venture, TOJCHIN, which is building the plant.
Construction of the plant began on 1 October 2014. The first line, which has 600,000t/yr of cement production capacity, will be introduced into operation in April 2015.
"360 specialists, mainly citizens of Tajikistan, are involved in construction of the plant," said Qodirov, noting that the plant would have a cement production capacity of 1.2Mt/yr when completed. The plant is expected to provide 500 jobs. The total cost of the project is US$30m, including US$23m invested by Chinese business circles and US$7m contributed by Tajik private entrepreneurs.
Under the law passed by Tajikistan's lower house (Majlisi Namoyandagon) of parliament on 12 November 2014, TOJCHIN is exempted from paying value added tax (VAT) and customs duties (totalling US4.6m) on equipment shipments.
Coretrax launches CX-IST technology for well cement placement 14 November 2014
UK: Coretrax, leading engineered service for wellbore clean and abandonment, has launched its CX-IST (Inflation Support Tool) to the oil and gas market, following a US$3m development investment.
The CX-IST significantly reduces rig time, offering substantial cost savings. It gives a positive indication that the cement will be set in the correct place before latching at the bottom of the work string, using a pre-installed landing sub. Once secure, pump pressure inflates the elastomer to seal the wellbore. The IST is then released by picking up the work string. The CX-IST creates a 100% wall-to-wall base for well cement or fluid. The operator can deploy as many ISTs as needed in the same or multiple zones without tripping the drill pipe in and out of the hole, providing significant operator time and cost reductions.
"This is a monumental success for Coretrax and a game changer for the entire industry," said Kenny Murray, managing director at Coretrax. "The team is passionate about the business and has worked tirelessly for three years, from initial stages, to produce an innovative product, which will benefit the oil and gas sector."