• India: Reliance Infrastructure Ltd in advanced talks to sell its cement business

    Reliance Infrastructure Ltd has announced that it is in advanced talks to sell its cement business for US$394 million and a deal could be announced this week. The buyer would also take over the cement unit’s outstanding debt of 24 billion rupees under the terms of the deal, givi

  • Egypt: Egypt to issue a condition of contract for new cement production licenses

    Egypt: Minister of Industry and Foreign Trade Tarek Qabil announced that the ministry would issue conditions for tender documents and requirement specifications of cement production in the coming days to meet the future needs of the local market. The Minister said that the Cabine

  • South Korea: Six cement makers fined for price rigging in South Korea

    South Korea: South Korea's antitrust watchdog has fined six local cement makers a combined US$168m for fixing the prices of cement products and divvying up the market, according to Dow Jones. According to the Fair Trade Commission (FTC), cement companies have allegedly colluded t

  • Saudi: Saudi Cement shuts down two kilns

    Saudi Cement Co has closed down two kilns indefinitely as a result of high inventory, absence of growth in Saudi demand and the continuing ban on exports, it said in a bourse statement on Wednesday. The company reported an impairment charge of SAR66.2m (US$17.6m) in the fourth qu

  • Vietnam: Vietnam production increases by nearly 11 per cent in 2015

    Vietnam is estimated to have produced 67.9Mt of cement in 2015, up 10.7 per cent from a year ago, including 6.6Mt in December, up 11.9 per cent, the government-run General Statistics Office said. In the first 11 months, the country’s cement production hit 61.3Mt, according to th

  • Brazil: Brazil November sales update

    Preliminary industry data and market estimates published by Sindicato Nacional da Indústria do Cimento (SNIC) indicate that cement sales in the Brazilian cement market reached 4.9Mt in November 2015, down 16 per cent compared to the same month a year earlier. Imports totalled 28,

  • CNBM attends Conference of Chinese and African Entrepreneurs

    CNBM’s President, Song Zhiping, spoke at the High-Level dialogue between Chinese-African Leaders and Business Communities, and the 5th Conference of Chinese and African Entrepreneurs, held in Johannesburg earlier this month. Song emphasised the importance of internal relations i

  • Sale of Italcementi non-core assets approved

    On 18 December, the Italcementi Board of Directors approved the sale to Italmobilaire of a number of non-core assets, in connection with the agreement between Italmobilaire and HeidelbergCement. Specifically, Italcementi will sell to Italmobilaire its current equity investments i