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UNACEM completes Ecuador acquisition 04 December 2014
Ecuador/Peru: Peruvian cement producer Union Andina de Cementos (UNACEM) has completed the purchase of Lafarge's cement operations in Ecuador. "We are pleased with the closing of the transaction, which represents an important step in our growth strategy," said Carlos Ugás, managing director of UNACEM. The company closed the acquisition, which was initially announced in May 2014, for approximately US$517m. The deal involves the purchase of a 1.4Mt/yr cement plant located in Otavalo, in the north of Ecuador.
Saudi City Cement Co to invest US$6.7m in alternative energy project 04 December 2014
Saudi Arabia: Saudi cement producer City Cement Company has announced that it intends to invest US$6.7m in an alternative energy project. The Chinese engineering company Sinoma will carry out the project, anticipated to be completed by 30 June 2015. Without providing further details on the nature of the project, City Cement said that it will use its own funds and/or Murabaha financing to fund it.
Tokyo Cement to merge with Fuji Cement 04 December 2014
Sri Lanka: Fuji Cement, one of the subsidiaries of Tokyo Cement, which functions as independent company, will go for a strategic merger as a single entity with effect from February 2015. Harsha Cabraal has become the new chairman of the company.
After the merger, the new entity will be named Tokyo Cement Company Lanka Plc. For the merger the companies will cancel the status capital and asset and liability of Fuji Cement and are now waiting for the Company Registrar's approval to go ahead with the merger.
Tokyo Cement (Lanka) plc is a Sri Lanka-based company engaged in the manufacturing and selling of cement and ready mixed concrete to the local market. Its product lines include Nippon Ordinary Portland Cement (OPC), Tokyo Super Ordinary Portland Cement, Tokyo Super Portland Pozzolana Cement and Tokyo Super Masonry Cement.
As of 31 March 2012, Tokyo Cement had four subsidiaries, namely Tokyo Super Cement Company Lanka (Pvt) Limited, Fuji Cement Company (Lanka) Limited, which were both engaged in manufacturing and selling cement; Tokyo Cement Power (Lanka) Limited, which was still in gestation stage and Tokyo Cement Colombo Terminal (Pvt) Limited, which was active in the import and distribution of cement.
UNICEM orders Loesche Mill type LM70.4+4 with Cope drive 04 December 2014
Germany/Nigeria: United Cement Company of Nigeria (UNICEM) has ordered the largest Loesche mill to date, a LM 70.4+4. The new LM 70.4+4 will have an output of 370t/hr at 4,700 Blaine in UNICEM's new line in Calabar, Nigeria. The delivery period is 14 months.
The 4+4 concept follows mill types with 2+2 and 3+3 rollers. The 4+4 grinding concept is intended to allow high throughput capacity or it can run in 2+2 roller operation, generating a mill output of 60%.
Loesche will use the Cope gearbox, which was developed in cooperation with Renk and offers a redundancy of up to eight motors at the motor end. With all eight motors in operation, a capacity totaling 8.8MW is achieved. The new Cope gearbox contributes the feature of working without a variable speed drive and operating with a reduced number of motors
Dalmia Bharat buys out SAIL in Bokaro Jaypee Cement 03 December 2014
India: Dalmia Bharat has acquired the final 26% stake that it did not already own in Bokaro Jaypee Cement from the Steel Authority of India (SAIL), for US$150m. Bokaro Jaypee Cement has become a wholly-owned subsidiary of Dalmia. In March 2014 Dalmia acquired Jaypee's 74% holding in the company.
Bokaro Jaypee Cement was formed as a 74:26 joint venture project between Jaiprakash Associates and SAIL, for the operation of a 2.1Mt/yr capacity grinding plant at Bokaro, Jharkhand. The cement produced in the unit was sold through Jaiprakash's distribution network under the brand name 'Jaypee Cement'. However, Jaypee exited the venture and used the proceeds to address its debt.