Holcim Board Rejects Merger Deal

The pending merger between cement giants Holcim and Lafarge has come to a halt after Holcim’s board of directors “concluded that the combination agreement can no longer be pursued in its present form,” according to a released statement by the board. It “has proposed to enter into negotiations in good faith around the exchange ratio and governance issues.”

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Holcim Ecuador Launches Second Phase of Modernization Project

Holcim Ecuador reaffirmed its confidence in the country by inaugurating the second phase of the modernization project at its Guayaquil cement plant, representing an investment of about $400 million over the past five years. The project enables Holcim to produce 4,500 tpd of clinker at the plant replacing the need for imports (600 tpy) and increasing the company’s cement production…

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McInnis Cement Submits Project to Additional Conditions

McInnis Cement welcomed the Quebec government’s decision to draft legislation confirming that its Port-Daniel–Gascons’ project is not subject to the environmental assessment process. The company is confident that Bill 37 will dispel the uncertainty surrounding the project and will help in maintaining jobs. The proposed plant will create approximately 2,300 jobs per year during construction, including 700 on site. In…

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Cemex Affiliate Signs Agreement with Trinidad Cement

Trinidad Cement Limited (TCL), who was recently approved to remove a 20 percent restriction on shareholding, has signed a subscription agreement with Sierra Trading, an affiliate of Cemex, reported the Trinidad Guardian. Under the agreement, Sierra will participate in TCL’s upcoming rights issue and has committed to additional capital via an agreement to underwrite the raising of capital up to…

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