Global Cement News
Search Cement News
Coretrax launches CX-IST technology for well cement placement 14 November 2014
UK: Coretrax, leading engineered service for wellbore clean and abandonment, has launched its CX-IST (Inflation Support Tool) to the oil and gas market, following a US$3m development investment.
The CX-IST significantly reduces rig time, offering substantial cost savings. It gives a positive indication that the cement will be set in the correct place before latching at the bottom of the work string, using a pre-installed landing sub. Once secure, pump pressure inflates the elastomer to seal the wellbore. The IST is then released by picking up the work string. The CX-IST creates a 100% wall-to-wall base for well cement or fluid. The operator can deploy as many ISTs as needed in the same or multiple zones without tripping the drill pipe in and out of the hole, providing significant operator time and cost reductions.
"This is a monumental success for Coretrax and a game changer for the entire industry," said Kenny Murray, managing director at Coretrax. "The team is passionate about the business and has worked tirelessly for three years, from initial stages, to produce an innovative product, which will benefit the oil and gas sector."
Oyak Group eyes LafargeHolcim assets amid expansion 14 November 2014
Turkey: Oyak Group, Turkey's military pension fund, has US$2bn in cash for acquisitions and may spend some of it on assets being divested by Lafarge and Holcim.
Oyak is interested in Holcim and Lafarge businesses in countries including Romania, Serbia and Hungary, according to Celal Caglar, Oyak's head of the cement and automotive unit. Holcim and Lafarge need to sell units to gain regulatory approval for their planned merger to form LafargeHolcim. In Europe, regulators have set a 15 December 2014 deadline to either approve the deal or open a deeper investigation.
"We are interested in bidding as Oyak or together with a European group," said Caglar. Oyak has US$2bn in cash for acquisitions and can leverage it more than five times if needed, he added. "We are closely following the sale process."
On 10 November 2014 Oyak completed the purchase of Turkey's Denizli Çimento from Ireland's CRH and Turkey's Eren Holding AS for between US$400m and US$450m, as part of Oyak's expansion plans. Oyak has a cement production capacity in Turkey of 20.1Mt/yr, or 19% of the country's market share, through its six plants, including Denizli. It has a clinker production capacity of 10.3Mt/yr, or 15% of Turkey's total. Oyak expects Turkey's cement market to grow by 5% in 2015 after an estimated 6% in 2014, helped by projects including highways, a road tunnel under the Bosporus, stadium constructions and new metro lines.
Six candidates shortlisted for PPC CEO job 14 November 2014
South Africa: PPC has compiled a shortlist of six candidates to succeed Ketso Gordhan as CEO and will make an appointment after a shareholders' meeting in December 2014, according to chairman Bheki Sibiya.
"We have 85 candidates, of whom six are the cream of the crop," said Sibiya. "We are looking at a person who is going to buy into the board's strategy. We are not looking at anybody who is going to change it."
India Cements returns to profit 13 November 2014
India: The India Cements Ltd (ICL) has returned to black in the second quarter of its 2015 financial year, which ended 30 September 2014, after reporting loss for four quarters in a row. It has reported profit for the quarter despite a drop in volume and rising cost pressures.
The India Cements reported a net profit before tax of US$1.22m for the second quarter of the 2015 financial year, compared to a loss of US$5.11m in the previous year. Sales volumes were down by 3% to 2.35Mt against 2.44Mt in the prior year. Net sales were higher at US$184m during the quarter, compared to US$176m in the previous year.
T S Raghupathy, special adviser to The India Cements, said that the Indian cement industry reported a 9% in the first half of the 2015 financial year. However, growth in the south was the weakest among the regions. Tamil Nadu, Telangana and Andhra Pradesh, the principal markets for India Cements, virtually saw de-growth, he added.
Thang Long Cement to construct a second 2.3Mt/yr line 13 November 2014
Vietnam: Semen Gresik is reportedly preparing to double the annual production capacity of 2.3Mt/yr of the Thang Long Cement plant in Hoanh Bo District, Quang Ninh Province, through building the second production line. The Thang Long Cement 2 project is on the list of projects approved by the prime minister in 2011 for investment during the 2016 - 2020 period and features in the country's sectoral master plan. Semen Gresik acquired a 70% stake in Thang Long Cement for US$157m in 2012.