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Hyundai Cement sales expected to generate up to US$515m 09 December 2016
South Korea: The sale of Hyundai Cement is predicted to generate up to US$515m. Sources quoted by the Maeil Business Newspaper say that the auction in mid-December 2016 will receive attention from cement producers and private equity funds. Hyundai Cement is the seventh largest cement producer locally, holding about 7% of the market. Larger producers, such as Ssangyong Cement Industrial, Tongyang Cement & Energy and Lafarge Halla Cement, with production units in coastal regions, would all benefit from purchasing Hyundai Cement with its assets located internally in the country.
EAM, Mamba and Sungura to enter cement industry in Tanzania 09 December 2016
Tanzania: EAM, Mamba and Sungura are planning to invest in the cement industry. Industry, Trade and Investment Minister Charles Mwijage said that the companies have all requested to enter the industry at the Dar es Salaam International Trade Fair, according to the Tanzanian Daily News. EAM wants to build a 3Mt/yr plant in the Tanga region on condition that the government lets it export cement internationally. It has also requested other conditions that are in discussion with the government. Mamba and Sungura are also in discussion with the government regarding their projects.
Algeria: Groupe Industriel des Ciments d'Algérie (GICA), the government-owned cement producer, has launched the certification process of its oil well cement ahead of plans to produce the product itself. A sample batch of 300t was produced in November 2016, according to the Algeria Press Service. Rabah Guessoum, the chief executive officer of GICA, said that the cement will produced at the company’s Setif plant and sold to Sonatrach group and foreign oil companies. A national demand of around 300,000t/yr is anticipated.
Holcim Lanka rebrands as Insee Cement 08 December 2016
Sri Lanka: Holcim Lanka has been rebranded as Insee Cement following its acquisition by Thailand’s Siam City Cement. The company will continue to use its Sanstha and Mahaweli Marine brands of cement but it will also introduce Insee Pro, Insee Pro Plus and Insee Extra brands, according to the Daily Financial Times newspaper.
Camargo Corrêa exploring sale of 40% stake in Loma Negra 08 December 2016
Argentina: Brazilian cement producer Camargo Corrêa is in talks to sell a 40% stake in Loma Negra. The company is exploring a potential sale with an unspecified number of bidders, according to Reuters and Brazil Journal. The proceeds of any successful sale will be used to reduce the debts of InterCement, the holding company that Camargo Corrêa uses to manage assets it purchased from Cimpor. Loma Nega is the largest cement producer in Argentina.