Displaying items by tag: Eurocement
Russia: According to SKRIN Newswire, the president of Eurocement Mikhail Skorokhod has announced introduced the new general director of the Kavkazcement plant as Georgy Kuznetsov.
"Kuznetsov's has more than 30 years of experience," said Skorokhod. "He has held executive positions in the administration of the Ministry of Taxes and Assessments of the Russian Federation and in the Ministry of Defense of the Russian Federation. He has worked for Eurocement since March 2014 as the deputy head of the department of economic security."
Kuznetsov thanked Eurocement management for their vested confidence. "Kavkazcement has a very united and highly professional team, which is able to fulfil any task," said Kuznetsov. "I promise to use all my experience and skills to maximum effect to achieve all targets set for the plant and to justify the confidence vested to me."
The 3Mt/yr Kavkazcement plant is currently being built to meet expected demand growth. "The market of the south is growing and Kavkazcement has very good prospects to increase the volume of products shipping and improve production figures," said Skorokhod. "The plant will become one of the most advanced enterprises in the region, meeting the highest world requirements by the quality of its equipment, production efficiency and environmental friendliness. Moreover, construction of a new modern highly efficient cement plant in the territory of the Karachayevo-Cherkessian Republic will promote active social and economical development of the region and provide the construction industry of the republic and adjacent regions with high-quality cement," said Skorokhod.
The contract for the plant construction was signed between Eurocement and China's Sinoma International Engineering Company on 9 November 2014 within the framework of the XXII APEC Summit held in Beijing. Sinoma International Engineering Company will supply a complete package of equipment and design, supervision of erection and personnel training for the new plant.
Russia: According to SKRIN Newswire, in the first five months of 2015, Eurocement's Pikalevskiy cement plant shipped 11,700t of bagged cement to its customers, which is 23% more than in the same period of 2014.
Eurocement asks for US$634m loan from Sberbank
22 June 2015Russia: Eurocement Group has asked the country's biggest bank Sberbank for a US$634m of project financing, according to company President Mikhail Skorokhod. "We expect that in the last 10 days of June 2015, we will be able to receive approval on this request from an interdepartmental commission," he said.
Sberbank has already approved US$248m from the total request, which will be spent on construction of its 10,000t/day (~4Mt/yr) Mikhailovsky plant in the Ryazan Region.
Eurocement also plans to attract US$300m of financing from Industrial and Commercial Bank of China and Bank of China to upgrade its plants. The request has been submitted to China's Sinosure, and is currently being reviewed.
Russia: According to Prime News, Mikhail Skorokhod, president of Eurocement Group, has said that the cement industry of the Eurasian Economic Union (EEU), which comprises Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, may receive about Euro4.42bn of private investment until 2020.
"Speaking of plans until 2020, we expect to see launches of about 40Mt/yr of capacities and about Euro4.42bn of private investment will be needed for that," said Skorokhod, adding that investments in Russia will account for about 80% of the total sum. Investment in the sector amounted to Euro13.3bn until 2014 and production capacities totalling 45Mt/yr cement were launched.
Russia: Russia's cement consumption may fall by 5 - 10% in 2015, according to Eurocement Group forecasts. The cement market contracted by 9% in January - April 2015. The decline slowed to 4 - 5% in May 2015, according to preliminary data.
The situation on the construction market is currently unfavourable for cement production as borrowing is too expensive, which slows new construction and gives developers an incentive to monetise projects at the implementation stage. "Developers are currently trying to complete projects that are already underway, so consumption of finished products has increased and companies are reluctant to begin new construction projects, which takes a toll on cement consumption," said Eurocement president Mikhail Skorokhod.
Eurocement has continued to upgrade its cement plants and all of its plants will switch to the dry-process for cement production by 2020. The programme will boost Eurocement's production capacity to 60Mt/yr from 50Mt/yr. Capital investment in the upgrades will total an estimated Euro1.62bn.
At the start of July 2015, a 1.3Mt/yr capacity plant will be commissioned in Ulyanovsk region's Sengileevsky district, according to Skorokhod. The plant will have the option of shipping product on the Volga river, reducing some of Eurocement's logistical costs.
Eurocement Ukraine cuts cement production by 22%
20 May 2015Ukraine: Eurocement Ukraine cut its cement production by 21.9% year-on-year to 1.09Mt in 2014. Its sales volumes decreased by 24.7% year-on-year to 1.09Mt, while its sales fell by 19.5% to Euro34.1m. Eurocement Ukraine has reported a loss of Euro11.7m for 2014, having decreased its net revenues by 23.6% to Euro34.3m.
Eurocement supports LafargeHolcim merger
01 May 2015Russia: Eurocement has publically supported the merger between Lafarge and Holcim. In a statement the Russian producer and minority shareholder in Holcim said that it found the development potential of the merged company 'very positive'.
In late March 2015 Eurocement announced that it planned to vote against the LafargeHolcim merger unless the financial terms of the deal were altered. Subsequently in mid-April 2015, it then proposed its chairman Filaret Galchev to the board of directors of LafargeHoclim but Holcim said the proposal was submitted too late to be considered. Eurocement owns a 10.82% stake in Holcim.
Holcim’s statement on Eurocement proposal
16 April 2015Europe: On 14 April 2015 Holcim announced the names of the candidates proposed to join the board of directors of LafargeHolcim after the merger. The board will comprise 14 members, seven each designated by Holcim and Lafarge.
After the announcement, Holcim received a proposal in writing of its 10.8% shareholder Eurocement to elect Filaret Galchev to the board of directors of LafargeHolcim. According to Holcim, the proposal came too late to be considered by the board of directors of Holcim for inclusion into the agenda of the Extraordinary General Meeting on 8 May 2015.
Eurocement proposes boss Galchev for LafargeHolcim board
16 April 2015Europe: Eurocement Holding AG, the second-largest shareholder in Holcim with a 10.8% stake, has said that it is nominating its owner Filaret Galchev for a position on the LafargeHolcim board. Galchev's name was not on a list of candidates for the post-merger board released earlier in April 2015, but Holcim's chairman had previously said that Holcim was open to giving Galchev a seat.
Ulyanovskcement building new cement plant
07 April 2015Russia: Ulyanovskcement, a subsidiary of Eurocement, is setting up a new cement shipping and packaging department. The project includes a new 6200t/day dry-process production line. Equipment produced by Ibau Hamburg Ingenieurgesellschaft Industriebau GmbH will be installed.