• Islamic State kidnaps over 200 workers from Al-Badiyeh Cement Company

    Syria: Over 200 workers and contractors from the Al-Badiyeh Cement Company have been kidnapped by a group affiliated to Islamic State of Iraq and Syria (ISIS). The Ministry of Industry said in a statement to the Syrian Arab News Agency (SANA) that the Ministry has been in contact

  • Dangote starts building 3Mt/yr clinker grinding plant in Ivory Coast

    Ivory Coast: Dangote Cement has started to build a 3Mt/yr clinker grinding plant in Yongbon near Abidjan. The plant will be cost US$200m and be completed by late 2017 according to Devakumar Edwin, Dangote Group Executive Director, Strategy, Projects and Portfolio Management. The

  • INDIA - Consolidation in industry to support cement prices

    Consolidation in the cement industry over the last couple of years, along with big-ticket government spending, is likely to hold up cement prices while pushing up demand. Merger/acquisition deals like JP Associates Ltd-UltraTech Cement Ltd and Birla Corp. Ltd-Reliance Infrastruct

  • Votorantim cement sales volumes fall by 6% to 35Mt in 2015

    Brazil: Votorantim’s cement sales volumes fell by 6% year-on-year to 35Mt in 2015 from 37Mt in 2014. However, net revenue from the group’s cement business rose by 6% to US$3.82bn. The Brazilian industrial group blamed the loss of sales volumes on the poor economic situation in

  • Yanbu Cement profit falls in first quarter of 2016

    Saudi Arabia: Yanbu Cement Company has reported an 11.1% year-on-year fall in its net profit to US$49m in the first quarter of 2016 from US$55m in the same period in 2015. The cement producer has blamed the profit loss on a fall in sales and a rise in fuel prices.

  • HeidelbergCement announces the integration plan for Italcementi

    HeidelbergCement has announced the project to restructure the Italian operations of Italcementi S.p.A. On 28 July 2015, HeidelbergCement had entered into an agreement to acquire a 45% stake in Italcementi from Italmobiliare S.p.A., the holding company of the Pesenti family, which

  • Jaiprakash surges on deal to sell cement plants

    Reuters are reporting that Jaiprakash Associates has gained as much as 13% to a month-high of 8.75 rupees, with UltraTech Cement up as much as 1%. The UltraTech board approved the deal to buy identified JAL cement plants at an enterprise value of 159 billion rupees (US$2.40 billi

  • HeidelbergCement to cut jobs in Italy

    According to Bloomberg’s latest report, HeidelbergCement AG will cut jobs in Italy and sell assets in Belgium as it absorbs Italcementi SpA. HeidelbergCement announced that the move aimed at returning the Italian business to profitability will affect about 400 of the 2500 pos