Global Cement News

Oman: Raysut Cement received a total of seven awards at the Oman Best Employer Brand Awards 2020 and the Gulf Cooperation Council Best Employer Brand Awards 2020. Group chief executive officer (CEO) Joey Ghose won CEO of the Year at both the Oman and GCC awards. In the former, the company also won Best Use of Technology in the Workplace, Promoting Health in the Workplace and Training Provider of the Year. At the regional awards it won the Talent Management and Leaders of Tomorrow awards.

Acting deputy CEO Salim bin Ahmed bin Alawi Al Ibrahim said, “We operate beyond Oman - in the UAE through our subsidiary Pioneer Cement Company, in Yemen through associates and in East Africa through trading offices as well as new investments. We have also invested in Georgia and have recently acquired a terminal in the Maldives too. We will be expanding further and will be present in different parts of the world supporting infrastructure development in various geographies with Omani clinker and cement. Last year RCC acquired Sohar Cement Company and we believe that our success lies in our highly motivated, skilled and trained employees who deliver the best quality we are known for.”

Oman: Raysut Cement has inaugurated new leisure facilities at the Al Wafa Social Centre in Salalah. The company oversaw the establishment of a rehabilitation hall and hydrotherapy facility and reequipped the centre with new sports equipment.

Salalah cement plant general manager Mohammed Ahmed Aideed said, “The opening of this project comes within the company's strategy for social responsibility which covers the support for Al Wafa Social Centre in Salalah.” He added, “Today we inaugurate this project, which is one of the fruits of this strategy approved by Raysut Cement Company’s Board of Directors.”

Canada/US: Brazil-based Votorantim Cimentos says it has agreed to form a new 83%-owned subsidiary based in Toronto to combine the assets of McInnis Cement and St Mary’s Cement. Caisse de dépôt et placement du Québec (CDPQ), the current owner of McInnis Cement, will hold a 17% stake in the joint-venture. The group says that it will manufacture, distribute and sell building materials in the companies’ existing regions in Canada and the US.

Votorantim Cimentos said, “The company believes this transaction will result in the creation of a competitive, nimble and highly efficient business that will be better able to supply cement to customers in Canada and the US. In addition to strengthening the company’s presence in North America by expanding its current cement production capacity by 2.2Mt/yr and combining the company’s Great Lakes-focused distribution network with McInnis Holding’s complementary distribution network in Eastern Canada and the Northeastern USA, the Company anticipates the Transaction will result in substantial synergies.”

The transaction is subject to approval by regulatory authorities in Brazil, the US and Canada.

Pakistan: The Ministry of Commerce has advised the government that a concessionary rate for cement companies for the supply of electricity would reduce costs and increase international competitiveness. The Business Recorder newspaper has reported that the ministry proposed the measure due to the industry’s ‘immense’ potential for exports. In the 2020 financial year, the country exported US$266m-worth of cement. The ministry said that the current government’s policies would cause this to ‘substantially’ increase.

India: Tax authorities have raided 10 offices of Chettinad Cement and its subsidiaries in Telangana and Andhra Pradesh. The Times of India newspaper has reported that the officers are investigating allegations of tax evasion.