Global Cement News

India: JK Cement expressed its heartfelt condolences to the family of Jitendra Singh, who died in Meerut, Uttar Pradesh, on 12 November 2023. Singh was formerly chief information officer at the company. He served from August 2016 to August 2023.

JK Cement said that Singh made an ‘unerasable mark’ on the group. It added “The technology industry has been subjected to loss as it lost a respected leader. The sudden nature of Mr Singh’s demise has left a void that will be challenging to fill. The condolences pour in not only from colleagues and industry peers but from all those who had the privilege of interacting with him.”

Kenya: Peter Kahi of PKF Consulting has been appointed as the administrator of Savannah Cement. This follows the resignation of Harveen Gadhoke, according to the Business Daily newspaper. Gadhoke was appointed as the administrator of the company in November 2022 when Absa and KCB attempted to put it into administration due to combined debts of US$66m. Savannah Cement fought back legally against the attempt to manage it externally but a court rejected this in July 2023.

Tanzania/Uganda: Switzerland-based Holcim has signed agreements to sell Uganda-based Hima Cement and Tanzania-based Mbeya Cement. Local industrial conglomerate Sarrai Group will acquire Hima Cement for US$120m, while local oil importer Amsons Group will acquire Mbeya Cement for an undisclosed sum.

Holcim’s Asia, Middle East & Africa regional head Martin Kriegner said “These divestments advance our strategy to consolidate our leadership in core markets as the global leader in innovative and sustainable building solutions. With the Sarrai Group and Amsons Group, we are pleased to have found strategic and trusted partners who are best positioned to develop these businesses in the long term.”

Colombia: Cementos Argos’ sales of cement declined by 3.4% year-on-year to 11.9Mt during the first nine months of 2023, from 12.3Mt in the first nine months of 2022. Volumes dropped by 0.9% to 4.61Mt in the US, by 3.6% to 4.35Mt in Colombia and by 6.6% to 2.97Mt in Central America and the Caribbean. Nonetheless, its revenues rose by 16% year-on-year, to US$2.47bn from US$2.14bn. This resulted in earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$506m, up by 37% year-on-year.

For the full year 2023, Cementos Argos raised its EBITDA forecast to US$617 – 630m, compared to a previous forecast of US$580 – 605m. It expects to invest US$200 – 220m in capital expenditure throughout the year – US$90 – 99m of it on the construction of new capacity.

Australia: The government has begun consultations with affected parties over the possible implementation of a carbon border tax on imports of goods from heavy industries, including cement production. The Herald Sun newspaper has reported that manufacturers’ associations in Australia have welcomed the possible change to emissions laws.