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CMS launches Portland Limestone Cement product 14 November 2018
Malaysia: Cahya Mata Sarawak (CMS) has launched a new Portland Limestone Cement (PLC) product. The 32.5N strength product is targeted for low-rise concrete structures such as single storey residential, office and commercial buildings. It is also intended for plastering, bricklaying and for use in the construction of drains and rural or kampong roads. CMS has also been conducting trials with Universiti Malaysia Sarawak (UNIMAS) on testing it as a binder for soil stabilisation. The new cement type will compliment CMS’ existing Portland Cement 42.5N product.
CMS operates one integrated cement plant and two grinding plants. Both grinding plants, at Pending in Kuching and Bintulu, have direct access to ports allowing entry to export markets for bagged and bulk product. The state-owned cement producer also operates two bulk marine terminals at Sibu and Miri.
Apo Cement to lay off third of employees following landslides 14 November 2018
Philippines: Apo Cement is preparing to temporarily lay-off up to 30% of its employees and 40% of its contractors. It has filed a formal notice detailing its intentions with the Department of Labor and Employment in Central Visayas, according to the Philippines News Agency. It says it has been forced into reducing its workforce in response to the on-going suspension of Apo Land and Quarry following landslides in September 2018. APO Land & Quarry supplies raw materials to CHP’s subsidiary Apo Cement, and it is indirectly 40% owned by Mexico’s Cemex.
Indonesia: LafargeHolcim has signed an agreement with Semen Indonesia to sell its 80.6% share of Holcim Indonesia for US$1.75bn. The assets to be sold to Semen Indonesia include the entirety of LafargeHolcim’s operations in Indonesia, which consists of four cement plants, 33 ready-mix plants and two aggregate quarries. LafargeHolcim says it decided to divest Holcim Indonesia as part of the on-going portfolio review. Closing of the transaction is subject to customary regulatory approvals.
“As part of our Strategy 2022 – ‘Building for Growth’ we have committed to divestments of at least Euro1.8bn. Today’s announcement is an important milestone in reaching our target and to increase our financial strength,” said Jan Jenisch, chief executive officer (CEO) of LafargeHolcim.
Mosstroytrans and Inner Mongolia Mengxi Cement to build 0.5Mt/yr plant at Krasnokamensk 13 November 2018
Russia: Mosstroytrans and China’s Inner Mongolia Mengxi Cement have signed an agreement to build a 0.5Mt/yr cement plant at Krasnokamensk in Transbaikal. The deal was signed at the China International Import Expo in Shanghai, according to the Business World Agency. The project dates back to 2014, when China’s Beijing Triumph International Engineering conducted a feasibility study at the site. In 2016 the regional government declared the project a regional priority.
Mosstroytrans is a diversified company that was established in 2010. At present, it is running a number of construction projects in the Nenets Autonomous District. Inner Mongolia Mengxi Cement is based in the Inner Mongolia Autonomous Region of China. It operates cement plants with a total production capacity of 16Mt/yr.
True North to buy 75% stake in Shree Digvijay Cement Company Limited 13 November 2018
India: Private equity company True North has signed a deal to buy Votorantim Cimentos’ direct and indirect 75% stake in Shree Digvijay Cement for an undisclosed sum. The acquisition will require completion of a mandatory open offer to the minority shareholders of Shree Digvijay Cement. JM Financial Limited is acting as the manager to the open offer.
“Votorantim Cimentos has contributed significantly to the strategic initiatives taken at Shree Digvijay Cement over the last few years. This has strengthened its competitive positioning and has greatly improved its operating and financial performance. True North firmly believes in Shree Digvijay Cement’s competitive positioning and is looking forward to partnering with the existing management and employees of the company. We are very excited about this opportunity, with fresh investment and new thinking we can create a lot of value for all,” said Said Srikrishna Dwaram, a partner with True North.
True North holds experience with investments in the Indian construction and building materials space. It has owned and managed two businesses in the sector: RDC Concrete, a manufacturer of ready-mix concrete and Robo Silicon, a manufacturer of construction aggregates.