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Vecih Yılmaz appointed as general manager of Akçansa
Written by David Perilli
07 December 2022
Türkiye: Akçansa has appointed Vecih Yılmaz as its general manager. The cement producer is a joint-venture between Sabancı Holding and Heidelberg Materials.
Yılmaz, started his career as an auditor at Deloitte in 2005 and later joined Sabancı Group in 2009. Between 2015 and 2017, he was the chief financial officer at Assan Panel and Financial Affairs Director at Kibar Holding. Both companies are part of Kibar Group. He rejoined Sabancı Group in 2017 as the finance director at Sabancı Holding and also served as a member of the board of directors at Kordsa and Yünsa. He has worked as the Deputy General Manager of Finance and Financial Affairs at Çimsa since 2019.
Yılmaz is a graduate from the Department of Business Administration at the Middle East Technical University in Ankara. He completed the Political Science and Public Administration minor program at the same institution. He also holds a master's degree in financial economics from Galatasaray University in 2012.
Chen Xuanlin resigns as chief investment officer of Dongwu Cement
Written by Global Cement staff
07 December 2022
China: Chen Xuanlin has resigned as the chief investment officer of Dongwu Cement. In a statement the company said that Chen wanted to, “to pursue his career development and concentrate on his own business engagement.”
Mexico: Cemex Mexico plans to install hydrogen injection systems at four cement plants across Mexico. The producer will use the technology to increase alternative fuel (AF) substitution at the plants by 8 - 10%. A 40% reduction in Scope 3 purchased fuel emissions forms part of Cemex's 2020 - 2030 CO2 emissions reduction strategy. Through the decarbonisation and circular economy pillars of its Future in Action plan, the group aims to become carbon neutral by 2050.
Cemex Mexico president Ricardo Naya said "Hydrogen is a key technology to accelerate the implementation of our climate action roadmap."
The El Financiero newspaper has reported that Cemex set a new group record AF substitution rate of 34% in September 2022. It uses hydrogen at all of its European cement plants and at one plant in the Dominican Republic.
China: Tangshan Jidong Cement and Xinjiang Tianshan Cement have announced the planned launch of a new joint venture in the cement industry. Reuters News has reported that the new cement producer will have registered capital of US$129m.
Tangshan Jidong Cement and Xinjiang Tianshan Cements' headquarters lie 3000km apart, in Beijing, Hebei Province, and Ürümqi, Xinjiang Province, respectively.
UltraTech Cement to raise funds through commercial papers sale 07 December 2022
India: UltraTech Cement plans to raise funds from the sale of commercial papers over a three-month period from 6 December 2022. Reuters News has reported that the producer has already received buyers' commitments worth US$60.6m. The group will offer a yield of 6.8% on the issue.