Displaying items by tag: subsidiary
Suez Cement records US$75.0m loss in 2019
09 March 2020Egypt: Germany-based HeidelbergCement subsidiary Suez Cement’s losses fell by 11% year-on-year to US$75.0m in 2019 from US$84.1m in 2018. Mubasher News has reported that sales also fell, by 13% to US$41m from US$0.47bn.
Suez Cement is seeking buyers for its 51% stake in Kuwait-based Hilal Cement.
Eagle Materials finalises Kosmos Cement acquisition
09 March 2020US: Mexico-based Cemex has confirmed that its 75% subsidiary Kosmos Cement, which it holds jointly with a subsidiary of Italy-based Buzzi Unicem, has completed the sale of its 1.7Mt/yr integrated Louisville plant to Eagle Materials for US$665m. Cemex says that it will receive US$499m in proceeds from the sale.
Fuchs acquires 50% stakes in three Sub-Saharan distributors
17 December 2019Africa: German-based lubricants supplier Fuchs has taken over direct ownership of 50% of three distribution subsidiaries of its regional subsidiary Fuchs Southern Africa. The companies are based in Zambia, Zimbabwe and Mozambique. The acquisitions will support Fuchs’ aim of increasing its supply to African markets, according to Fuchs executive board chairman Stefan Fuchs. "Investment in a state of the art, fully automated grease manufacturing plant which opened in Isando, Johannesburg, in 2018” signifies the company’s commitment to sustainable social development of the continent, said Fuchs, adding, “Further plant expansions are already being planned.”
Najran Cement establishes transport division
28 November 2019Saudi Arabia: Najran Cement’s board of directors voted on 27 November in favour of the establishment of limited liability transport company. Due to market conditions, the new subsidiary will not be incorporated until 30 June 2020. Najran Cement did not confirm the size of the investment in its statement.
Gebr. Pfeiffer opens new subsidiary in Russia
20 August 2019Russia: Germany’s Gebr. Pfeiffer has opened a new subsidiary called ‘Gebr. Pfeiffer GUS’ based in Moscow. The company is led by General Director Alex Nickel and it offers new machinery as well as after sales for customers based in the Commonwealth of Independent States (CIS) region. Nickel is joined by Sales Director Svetlana Tarasova and Service Manager Alexander Zolotarev. The parent company holds long links with the region with machine and equipment sales to countries including Russia, Ukraine, Kazakhstan, Belarus and Uzbekistan.
Bedeschi opens new subsidiary in Russia
07 August 2019Russia: Italy’s Bedeschi has set up a new subsidiary in Moscow. The company is working on a project for OTEKO at its dry bulk terminal at the port of Taman on the Black Sea. It consists of the supply of a fully automated coal export terminal with a total aggregated capacity of more than 50,000t/hr on six loading lines. The supply includes bucket wheel stacker-reclaimers, several kilometres of conveyors and shiploaders. The system allows the blending of different types of coal. The new company in Russia joins existing subsidiaries in the US, Morocco, India and the UAE.
Gebr. Pfeiffer registers company in Malaysia
30 October 2018Malaysia: Gebr. Pfeiffer has registered a company in Malaysia. The German engineering company originally opened an office in the country in 2016 and it has now established a private limited company to further support its clients in Southeast Asia. The new company held its official opening in early August 2018 and it has seven members of staff.
Gebr. Pfeiffer Malaysia will offer presales, technical and service support from its office in Kuala Lumpur. Gebr. Pfeiffer Malaysia will also maintain one of four global spare parts centres offering shorter delivery times for critical spare and wear parts.
Star Ferro sets up subsidiary in Myanmar
31 October 2016Myanmar: Star Ferro and Cement's subsidiary Star Cement has incorporated a subsidiary called 'Star Century Global Cement' in Myanmar. It said the new company has been created to provide ‘engineering, technical, financial, management and skilled and other services relating to prospecting and exploration of mines and minerals’ in the country. It also intends to offer technical consultancy services for exploration, mining, process, engineering and operating data.