21 September 2015
Cement shortages in Argentina blamed on gas shortages 21 September 2015
Argentina: Cement producers are reportedly facing difficulty with gas supplies that are causing cement shortages, according to iProfessional. Local media reports a 70% fall in cement supply in some locations. Shortages are being recorded in Jujuy, Formosa, Misiones, Santa Fe and Chaco.
Ohorongo Cement supplying cement to build St Helena airport 21 September 2015
St Helena/Namibia: Ohorongo Cement has supplied 24,604t of cement towards the construction of the first-ever airport at St Helena island in the South Atlantic Ocean. It will continue to supply cement until the project is finished. The US$419m project is being developed by Basil Read and covers construction of the St Helena Airport and Permanent Wharf. Completion is planned by February 2016, according to local media.
Other projects the Namibian cement producer is supplying include the Husab Mine, Neckertal Dam, Walvis Bay Namport Harbour Project, an acid plant at Tsumeb and construction projects in Zambia and Democratic Republic of the Congo.
The company enjoys infant industry protection awarded by the Namibian government in 2013 for eight years. It recently announced that the Development Bank of Namibia had increased its stake to 11.72%.
Lafarge Malaysia to buy Holcim Malaysia for US$77.3m 21 September 2015
Malaysia: Lafarge Malaysia plans to buy Holcim Malaysia, for US$77.3m according to a regulatory filing. The acquisition of the subsidiary of Holcim Indonesia, is expected to be completed the fourth quarter of 2015. It will be paid for using internal funds and borrowing. Holcim Indonesia originally bought the unit for US$37m in 2009.
"The acquisition is also expected to deliver synergies through operational efficiencies, including the increase in economies of scale and bargaining power and reduction or elimination of duplicative functions," said a Lafarge Malaysia spokesperson. The acquisition of Holcim Malaysia will increase the cement production capacity of Lafarge Malaysia from 12.95Mt/yr to 14.14Mt/yr.
Italcementi sells minority stake in West China Cement for Euro39m 21 September 2015
China/Italy: Italcementi has sold its 5.24% stake in West China Cement for Euro39m. The price is subject to further adjustment, the group said in an announcement on 18 September 2015. Italcementi has sold the stake through its CimFra Limited subsidiary in China, and said the transaction would have no impact on earnings before interest, tax, depreciation and amortisation (EBITDA) generation capacity at group level.