Displaying items by tag: GCW183

Poland: According to the Polish Association of Cement Producers (SPC), cement sales might exceed 16Mt in 2015, while in 2017 - 2018 they might return to the record-breaking level of 19Mt. Official sales figures for 2014 have not been revealed yet, but recent estimates show that some 15 - 15.2Mt of cement were sold in 2014, which would represent a 6% increase when compared to the 14.3Mt sold in 2013.

Kenya: Seruji Limited, a distribution subsidiary of Bamburi Cement, has borrowed US$5m from TriLinc Global to finance its activities at a time when competition in the industry has reached new heights.

"TriLinc funded a US$5m trade finance transaction at a fixed interest rate of 14.75% to a Kenyan cement distributor engaged in the production and distribution of cement," said TriLinc. "The transaction, set to mature on 17 March 2015, is supported by inventory, receivables and other liquid assets." TriLinc added that Seruji met one of its investment criteria of being a small or medium enterprise (SME) in its growth stage.

"Founded in 2008, the borrower is a growing Kenyan cement distributor that utilises cutting-edge energy-efficient and eco-friendly cement grinding technology to improve sustainability," said TriLinc, which has also invested in Zambian, Namibian and South African SMEs. Kenyan companies are increasingly using foreign-based lenders with the capacity to lend larger amounts and at a lower cost than local financiers.

Peru/China: China's Jidong Development Group may finalise discussions regarding the takeover of Peruvian cement firm Cementos Interoceanicos in the next couple of weeks, according to local media. With the acquisition, Jidong will be able to further expand its global reach.

Jidong representatives have visited Cementos Interoceanicos' activities in Puno, southeast Peru, as part of the negotiations process, the news provider explained, adding that Cementos Interoceanicos is currently developing its manufacturing plant in the region. Cementos Interoceanicos also holds mining rights to 54km² of land in the Puno region, smaller areas in Arequipa and other areas.