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DG Khan releases further details of new Baluchistan cement plant 09 September 2015
Pakistan: DG Khan Cement has signed a contract with Germany's Loesche GmbH to supply complete raw, cement and coal grinding mills for its greenfield cement plant in Lasbella, Baluchistan. The cement grinding mills will be provided by a German company, while Denmark's FLSmidth has been contracted for engineering and equipment, according to DG Khan Secretary Khalid Chohan. The new 9,000t/day plant will be completed with a cost of around US$300m within three years. DG Khan has already signed an agreement with K-Electric for the supply of 40MW of electricity.
LafargeHolcim distributes an exceptional scrip dividend 09 September 2015
Europe: Following the successful completion of the LafargeHolcim merger, an exceptional scrip dividend of one new LafargeHolcim share for every twenty existing LafargeHolcim shares has been distributed to all LafargeHolcim shareholders. At the Extraordinary General Meeting on 8 May 2015, the group's shareholders voted in favour of an authorised share capital increase.
The last date to trade LafargeHolcim shares 'cum' scrip dividend was 7 September 2015. As of 8 September 2015, LafargeHolcim shares have traded 'ex' scrip dividend. The settlement and delivery of the newly issued shares will occur from 10 September 2015. No fractional LafargeHolcim shares will be issued. As a consequence, shareholders entitled to receive a number of LafargeHolcim shares not corresponding to a whole number will receive the rounded-down whole number of LafargeHolcim shares and the balance will be paid in cash. This will take place on 16 September 2015.
An application has been made for admission of the new LafargeHolcim shares to trade on the SIX Swiss Exchange in Zurich and on Euronext Paris. The newly-issued shares of LafargeHolcim will carry the same rights and obligations as the existing LafargeHolcim shares and will be fully assimilated with them.
For the purpose of the scrip dividend, 28,870,252 new LafargeHolcim shares, representing 5% of the LafargeHolcim share capital and voting rights as of 3 September 2015, will be issued.
Igor Nikolenko appointed as the new CEO of Kavkazcement
Written by Global Cement staff
09 September 2015
Russia: Igor Nikolenko has been appointed as the new general director of EuroCement's CJSC Kavkazcement. Igor Nikolenko was born in Belgorod in 1965. He graduated from Belgorod Technological Institute of Building Materials in Mechanical Engineering in 1990 and then worked in the Belgorod cement plant.
Kavkazcement is one of the largest cement plants in southern Russia with a production capacity of 3.1Mt/yr. The raw material base is limestone from the Ust-Dzhegutinsky mine and clay from Karachay-Cherkessia. The company became part of EuroCement in 2004.
New CRH finance director announced
Written by Global Cement staff
09 September 2015
Ireland: Senan Murphy, currently chief operating officer at the Bank of Ireland, has been appointed as group finance director at CRH, according to The Irish Examiner.
Murphy will take up his new role, as well as joining the CRH board, in January 2015. He will succeed Maeve Carton in the finance director role, who has been in that position since 2010. Carton will move to a newly-created wider role with the title of group transformation director. There, she will be charged with better integrating CRH's businesses, identifying operational and financial opportunities and cash generation opportunities.
Holcim Liban net profits down 78% in first half of 2015 08 September 2015
Lebanon: Holcim Liban has reported US$2m of unaudited net profits in the first half of 2015, a decrease of 78.3% from net earnings of US$9.4m in the same period of 2014. The company's sales fell by 28.5% year-on-year to US$66.7m in the first half of 2015. Its gross profits margin reached 28% compared to 30.7% in the first half of 2014. Holcim Liban's assets fell by 3% year-on-year to US$275m at the end of June 2015