01 July 2015
Sika acquires Addiment Italia from Buzzi Unicem 01 July 2015
Italy: According to Dow Jones, Sika has acquired the remaining shares of the Italian-based Addiment Italia from its joint venture partner Buzzi Unicem. Addiment Italia, founded in 2003, is active in the production and sale of concrete admixtures and cement grinding aids. The transaction will strengthen Sika's production set up in Italy and increase its market presence. Addiment Italia generated sales of Euro14m in 2014.
"The cooperation between Buzzi Unicem and Sika as joint venture partners of Addiment Italia has continued effectively for more than twelve years, with good understanding of the common goals and management decisions that led to great results for both employees and shareholders. We hope that our future business relationship will continue with the same long-lasting success," said Buzzi Unicem's co-CEO Pietro Buzzi.
"The acquisition will allow us to further build upon the successful partnership between Buzzi Unicem and Sika in the admixture business worldwide and strengthen the operational footprint in Italy. We welcome the new employees on board and look forward to developing the business together," said Paul Schuler, EMEA (Europe, the Middle East and Africa) region head.
Titan Cement postpones dividend payment 01 July 2015
Greece: According to Reuters, Greece's Titan Cement has postponed its 2014 dividend payment, due on 1 July 2015, because of the bank holiday announced by the Greek government on 28 June 2015. "There will be a new announcement regarding the new date and the method of payment," said Titan Cement about the dividend.
Brazil: Magnesita Refratários has announced an agreement with ACIS, a cement maintenance and operations service company based in China and Saudi Arabia, to extend its services offering Magnesita's refractory products supporting greenfield projects around the world. ACIS and Magnesita will target Chinese cement original equipment manufacturers (OEMs), which are building projects in countries primarily outside of China. The cooperation started on 1 July 2015 and shall continue for three years, with a possible extension.
"Partnering with ACIS which is recognised within the cement industry for its technical and service capability, is an important step for Magnesita's continued growth within the industrial market. This alliance with ACIS will help clients control costs utilising Magnesita's high-quality refractory products as new cement plants are commissioned," said Magnesita CEO, Octavio Lopes.
ACIS will create a commercial team in China tp focus on clients and the development of new projects while Magnesita's technical assistance team will work closely with ACIS to provide application and engineering support.
Togo: Four people were killed when a fuel tank exploded at the West African Cement (WACEM) plant in Tabligbo, the country's security minister has announced.
"Six workers were carrying out welding work on the roof of the tank when the tragedy happened. A total of four people died," said Colonel Yark Damehame to AFP. The explosion left one worker seriously injured and in intensive care. Another worker, an Indian national, is missing and a search is underway according to local media. A staff representative at the plant, Emmanuel Montcho, said that the Indian national was the foreman and that 13 workers in total had been working to repair the tank before the explosion.