Global Cement News

India: The Bureau of Indian Standards (BIS) has warned producers to avoid the use of objective product descriptions which may subsequently be proven as false claims. The Economic Times newspaper has reported that the advice follows an internal circular of the Ministry of Consumer Affairs, Food and Public Distribution detailing plans for a tightening of standards around the use of objective terms such a ‘corrosion resistant,’ ‘weather proof’ and ‘damp proof’ by cement producers.

Colombia: Cemex España has requested authorisation by the Colombian Financial Superintendency (SFC) to make offers to buy the shares of all Cemex Latam Holdings shareholders with a view to taking over a 100% stake in the company. El Ceo News has reported that after receiving authorisation Cemex España must place a bid within five working days.

Egypt: HeidelbergCement subsidiary Suez Cement recorded a net loss of Euro38.0m in the first half of 2020, up by 99% year-on-year from 19.1m in the first half of 2019. The company made sales worth Euro145m over the period, down by 18% from Euro177m. The causes of the decline were market saturation and reduced demand in the short term due to the coronavirus lockdown from 19 March 2020 to 27 June 2020.

Taiwan: Asia Cement has bought all shares in Taiwan Chiahui Power Corporation belonging to co-owner Electric Power Development Company (J-Power). Electronic News has reported that the two companies have jointly owned Taiwan Chiahui Power Corporation since December 2002. The deal awaits ratification by the Taiwan Ministry of Economic Affairs Investment Commission.

US: Argonaut Private Equity has acquired a well cement business following the bankruptcy of Texas-based BJ Services. The purchase retains 260 employees and procures company assets and equipment, including bulk plants and technical labs located in the field. No fracturing assets were acquired in the acquisition. It has rebranded the business as American Cementing.

“The addition of American Cementing to the Argonaut Private Equity portfolio combines our expertise in efficient operations management with our experience in the oil and gas industry,” said Steve Mitchell, Argonaut’s chief executive officer (CEO).

American Cementing services include laboratory testing, blending at the bulk plant and mixing and pumping operations at the wellsite. Additionally, the company offers acidising services and products that are intended to enhance production and remove well-bore damage to preserve well lifetime.