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Rohri Cement plant deaths rise to seven 03 October 2017
Pakistan: The number of fatalities from an explosion at the Rohri Cement Plant in mid-September 2017 has risen to seven, following the death of journalist Lal Bux Kandhro. Four people died in the initial blast whilst defusing explosives, according to the Dawn newspaper. Seven other people were severely injured in the incident, of which three have subsequently died including Kandhro.
Saudi Arabia: The Saudi Industrial Exports Company (SIEC) has signed a memorandum of understanding with Al Jouf Cement Company to export its products internationally. The Saudi government lifted a ban on exporting cement in 2016.
US law firm examines proposed Ash Grove Cement sale to CRH 03 October 2017
US: WeissLaw is investigating the proposed sale of Ash Grove Cement to Ireland’s CRH on the grounds of whether the board acted to maximise shareholder value prior to the deal. Citing an article by financial markets research company Seeking Alpha the law firm says it is exploring whether rising demand for cement due to expected government infrastructure spending, the company’s high market share in certain regions and its recent growth in operating earnings were fully taken into account when valuing the company. CRH and Ash Grove Cement announced the US$3.5bn deal in late September 2017.
CRH linked to purchase of Suwannee American Cement 02 October 2017
US: Ireland’s CRH is close to agreeing a purchase of Suwannee American Cement from Votorantim Cimentos and Anderson Columbia. The deal is valued at US$750m, according to sources quoted by Bloomberg. However, this is an extremely high value for a single cement plant sale in the US. Suwannee American Cement operates a 1Mt/yr plant at Branford in Florida.
Brazilian governor seeks reopening of Itapissuma cement plant 02 October 2017
Brazil: Wellington Dias, the governor of Piauí, is seeking the reopening of the Itapissuma cement plant. Owners João Santos Group closed the plant in March 2017 due to an 80% drop in sales caused by the country’s poor economy. Around 500 employees were laid off, according to the state government. The cement producer planned to make a final decision on the future of the plant by the end of September 2017. However, the governor has intervened to try and coordinate the purchase of the plant by a local business consortium.