US: The Environmental Protection Agency (EPA) has awarded Energy Star certification to Buzzi Unicem USA’s plants at Chattanooga in Tennessee, Festus in Missouri, Maryneal in Texas and San Antonio in Texas. This certification is awarded to a facility for superior energy performance in comparison to similar plants. This marks the 10th consecutive year that the Chattanooga, Festus and Maryneal plants have received certification and the fifth consecutive year for the San Antonio plant.
RAK Cement’s shareholders approve acquisition of Newtec cement plant and quarry
UAE: The shareholders of RAK Cement have approved the conditional of the Newtec cement plant and Al-Banna quarry in Fujairah. The purchase was originally announced in late February 2019. It planned to buy the assets for around US$123m.
Philippine government holds back on suggested retail price for cement
Philippines: Ramon Lopez, the secretary of the Department of Trade and Industry (DTI), says that a suggested retail price (SRP) for cement is not a priority following the introduction of tariffs in imports. He added that prices had barely changed since the safeguard duty started in February 2019, according to the Manila Times newspaper. The Tariff Commission is currently considering whether to add additional tariffs to cement imports. A public hearing is set on for early May 2019 where it may extend the import duties.
ARM Cement fighting to sell stake in South African project
Kenya/South Africa: Kenya’s ARM Cement is fighting moves by minority investors in South Africa’s Mafeking Cement to buy it out for a nominal sum. ARM Cement is attempting to sell its 70% stake in the company for around US$3m as part of its administration process, according to the Business Daily newspaper. Mafeking Cement owns limestone reserves in north-west South Africa and ARM Cement originally took a stake in the company to raise investment and eventually build a cement plant.
However, the minority investors have invoked parts of the shareholders’ agreement and filed a court application in South Africa that, if successful, would allow them buy out ARM Cement’s stake for a nominal price less than US$1. ARM Cement’s administrators PricewaterhouseCoopers have taken steps to counter the move.
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