St. Lawrence Cement Commits to Major Expansion in the United States.MONTREAL--(BUSINESS WIRE)--Sept. 16, 1998--ST. LAWRENCE CEMENT (ME:ST.A.) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ST.A.) The Board of Directors of St. Lawrence Cement approved that the company proceed with the required steps leading to the construction of a new two-million-tonne cement plant in Greenport, New York Greenport, New York may refer to:
River, New York, U.S. Originating in the Adirondack Mountains and flowing for about 315 mi (507 km) to New York City, it was named for Henry Hudson, who explored it in 1609. Dutch settlement of the Hudson valley began in 1629. will start immediately. "The market size of the U.S. region St. Lawrence Cement serves is substantial, and we will be devoting increased resources to realize the potential of this region in the coming years, while solidifying our presence in Canada", stated President Patrick Dolberg. "The projected state-of-the-art plant, strategically located and featuring the most advanced technology, fits our objective of enhancing our positioning in these fast-growing Northeastern U.S. markets," added Mr. Dolberg. The Board of Directors of St. Lawrence Cement also approved an investment of US$47.5 million in a slag grinding facility to be built in the Philadelphia-Camden area. The plant will produce ground slag, a product with cementitious ce·men·ti·tious adj. Of or relating to a chemical precipitate, especially of carbonates, having the characteristics of cement. [From Latin caement properties which when used in concrete mixes, improves their durability and chemical resistance. "This further expansion fits St. Lawrence Cement's marketing strategy and long-term objectives, aiming to better serve its customers by offering them a broader range of products which will enhance their concrete production," commented Mr. Dolberg. This new product will be marketed under the brand name GranCem(TM), a product line already supplied in other markets by Holderbank's U.S. subsidiary, Holnam. This US$47.5 million investment calls for a grinding mill Grinding mill A machine that reduces the size of particles of raw material fed into it. The size reduction may be to facilitate removal of valuable constituents from an ore or to prepare the material for industrial use, as in preparing clay for pottery making , a stacker/reclaimer, a barge, ship loading and unloading systems as well as a storage facility and office area. Sourced under long term contracts, the new facility will receive granulated gran·u·late v. gran·u·lat·ed, gran·u·lat·ing, gran·u·lates v.tr. 1. To form into grains or granules. 2. To make rough and grainy. v.intr. slag, a by-product by·prod·uct or by-prod·uct n. 1. Something produced in the making of something else. 2. A secondary result; a side effect. by-product Noun 1. of iron and steel mills, and grind it on site in accordance with North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market standards. The plant will have an initial capacity of 500,000 tonnes per year and will be designed to allow a production increase up to 1,000,000 tonnes. Construction is expected to start before the end of 1998 and the plant to be operational by early 2000. St. Lawrence Cement is a leading producer and supplier of products and services for the construction industry, namely, cement, concrete, aggregates and construction. The company operates in Canada and on the Eastern Seaboard of the United States, and employs a total of 2,500 people. St. Lawrence Cement and Holnam are both subsidiaries of "Holderbank" Financiere Glaris Ltd. With Group and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. in 61 countries on six continents, "Holderbank" is the world's leading supplier of cement as well as a major supplier of aggregates, ready-mixed concrete, concrete chemicals and construction-related services. CONTACT: St. Lawrence Cement Dennis Skidmore, 518/452-3563 ext. 3029 or St. Lawrence Cement Nicole Jarry, 514/340-1555 ext. 206 |
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