22 October 2018
India: The Calcutta High Court has rejected a plea for an injunction by the owners of MP Birla Group into part of the acquisition process of Century Textiles and Industries by UltraTech Cement. The Lodha family holds a significant stake in Pilani Investment and Industries Corporation, which, in turn, owns a stake in Century Textiles and Industries, according to the Daily News and Analysis newspaper. It had argued that the demerger process as part of the sale of Century Textiles and Industries would seriously affect the remaining parts of its business. UltraTech Cement received approval from the Competition Commission of India (CCI) for the acquisition of the cement business of Century Textiles and Industries in late August 2018.
Potosí cement plant reported nearly half complete 22 October 2018
Bolivia: The head of Sociedad Accidental Imasa Polysius, a joint-venture created by Polysius and Imasa, Zubim Andrade, says that a cement plant that company is building in Potosí is more than 45% complete. The half-way mark is expected to be met by the end of October 2018, according to the El Potosí newspaper. Over 900 people are working on the project and most of the equipment for the unit has arrived. The 1.3Mt/yr cement plant has a cost of around US$240m.
Price of cement packaging rises by 117% in Iran 22 October 2018
Iran: The price of cement packaging for 50kg cement bags has risen by 117% since late 2017. Mohammad Ali Bod, a member of Iranian Cement Industry Employers Association, warned that some cement plants in the country would have to stop operating if the situation was not resolved, according to the Trend News Agency.