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National Cement Company grows sales so far in 2023

17 November 2023

UAE: The first nine months of 2023 brought sales growth of 39% year-on-year for National Cement Company, to US$36.8m from US$26.7m. Meanwhile, the company reversed nine-month 2022 losses of US$5.45m to record a net profit of US$13.7m during the first nine months of 2023.

Published in Global Cement News
Tagged under
  • UAE
  • National Cement Company (UAE)
  • Results
  • Profit
  • GCW635

ABG Shipyard seeks buyer for Vadraj Cement

17 November 2023

India: ABG Shipyard plans to sell Vadraj Cement, which owns a decommissioned clinker unit and grinding unit, as well as quarries and a jetty, in Kutch, Gujarat. The National Company Law Tribunal took over winding up proceedings for the former cement producer in September 2023. The Economic Times newspaper has reported JSW Cement, Adani Group and steel producer ArcelorMittal Group as potential buyers for the business. It expects Vadraj Cement to attract a price of US$240 – 300m, against debts of US$841m.

Published in Global Cement News
Tagged under
  • India
  • ABG Shipyard
  • Vadraj Cement
  • Gujarat
  • debt
  • Court
  • National Company Law Tribunal
  • insolvency
  • Sale
  • auction
  • JSW Cement
  • Adani Group
  • ArcelorMittal
  • mine
  • Port
  • business
  • Assets
  • Divestments
  • GCW635

Cementos Molins extends bank financing

17 November 2023

Spain: Cementos Molins has renewed a Euro75m loan and Euro225m credit line with lenders. The renewal extends the company’s financing buffer until the end of 2028. Expansión News has reported that Cementos Molins plans to use the total Euro300m renewed financing towards advancing its investments in sustainability, and possibly for other corporate purposes.

Published in Global Cement News
Tagged under
  • Spain
  • Cementos Molins
  • Finance
  • Loan
  • Sustainability
  • Strategy
  • GCW635

South Korean government implements 72% additional duty on Egyptian white cement

17 November 2023

South Korea/Egypt: The South Korean government’s 72% ‘anti-dumping duty’ on imports of white cement from Egypt entered force on 17 November 2023. Yonhap English News has reported that the measure will remain in force for four months, until 17 March 2023.

Egypt exported 9240t of white cement to South Korea in 2022, up by a factor of nine from 2021 levels.

Published in Global Cement News
Tagged under
  • South Korea
  • Egypt
  • dumping
  • Import
  • Export
  • Law
  • Duty
  • Government
  • Royal El Minya Cement
  • Albatros International Cement Trading
  • Korea Cement Association
  • GCW635

Cementarnica USJE takes new loans

17 November 2023

North Macedonia: Titan Cement Group subsidiary Cementarnica USJE has secured the approval of its shareholders to take two new loans. In a submission to the Macedonian Stock Exchange, the company said that it plans to take one loan of between Euro9m and Euro18m from Titan Global Finance, and another of not more than Euro9m from Sharrcem Kosovo.

Published in Global Cement News
Tagged under
  • Titan Cement
  • Titan Cement
  • Titan Cement
  • North Macedonia
  • Cementarnica Usje
  • Loan
  • Finance
  • Sharrcem Kosovo
  • GCW635
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