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Siam Cement’s sales up so far in 2017 due to regional expansion 07 November 2017
Thailand: Siam Cement Company’s (SCG) sales revenue from its cement business has increased so far in 2017 due to contributions from expanded operations in the Association of Southeast Asian Nations (ASEAN) region. Its sales rose by 2% year-on-year to US$4bn for the first nine months of 2017. However, its earnings before interest, taxation, depreciation and amortisation fell by 6% to US$526m, mainly due to weaker demand in Thailand.
South Korea: The South Korean Fair Trade Commission has approved the pending merger of China National Building Material (CNBM) and China National Materials (Sinoma). CNBM and Sinoma formerly entered into a merger agreement in September 2017.
Angolan cement plants to buy fuel from Luanda Refinery 07 November 2017
Angola: Manuel Tavares de Almeida, the Minister of Construction and Public Works, says that cement plants will be able to buy heavy fuel oil (HFO) from the Luanda Refinery. The announcement follows fuel shortages in the country that have led to the Fabrica de Cimento do Kwanza Sul and Luanda Cemento plants being shut, according to the Angola Press Agency. The minister said he had received assurances from the refinery that HFO would be supplied to the cement industry.
Edo state looks for new investor for Ava Cement plant 07 November 2017
Nigeria: Godwin Obaseki, the Edo State Governor, say that the state is negotiating with the Assets Management Corporation of Nigeria (AMCON) to find a new investor for the Ava Cement plant. Obaseki made the statement whilst visiting the Igarra, the headquarters of Akoko Edo Local Government Area, according to the Daily Trust newspaper. AMCON took possession of the plant due to its mounting debts.
Dangote Cement Cameroon claims 45% market share 07 November 2017
Cameroon: The local subsidiary of Dangote Cement in Cameroon (DCC) claims to control 45% of the cement market just two years after opening a grinding plant in Douala. The cement producer aims to producer 1.3Mt of cement in 2017 from its 1.5Mt/yr plant, according to the Journal du Cameroun newspaper. Other producers in the local market include Cinencam, a subsidiary of LafargeHolcim that has a 45% share, and Medcem and CIMAF, which share the remaining market share.