Cement News tagged under: Weekly Newsletter
Pakistani exports record YoY fall but MoM rise30 June 2016, Published under Cement NewsPakistan's cement exports have recorded a marked fall in the first 11 months of FY15-16 as overseas demand has dropped and competition has intensified, according to data of the Pakistan Bureau of Statistics (PBS). The domestic cement industry exported 5.58Mt of cement with a total value of US$301.33 during July 2015-May 2016, compared to 7.184Mt and US$413.38 in the corresponding FY14-15 period and reflecting a fall in volume and value of 22.31 and 27.1 per cent, respectively. The averag... |
India: ICRA forecasts cement demand to rise 6% in FY1730 June 2016, Published under Cement NewsIndian-based ratings agency ICRA has forecast that domestic cement demand will rise by six per cent in the 2016-17 financial year, the Economic Times reports. It’s assessment for FY18 is for even more rapid growth of seven per cent. Senior Vice President Sabyasachi Majumdar said: "Cement demand growth will pick up to six per cent in 2016-17 and further to seven per cent in 2017-18... during the current fiscal, it is likely to be driven by the pick-up in the infrastructure segment - primar... |
China: BBMG sells stakes to Jidong Cement30 June 2016, Published under Cement NewsChinese building materials supplier, BBMG Corp has plans to sell its stakes in 31 cement-related companies to Jidong Cement. The stakes on offer are valued at CNY15.5bn (US$2.3bn). Tangshan Jidong Cement Co Ltd will eventually become a part of BBMG as part of an overall company restructuring. This move comes as the Chinese government tries to get rid of smaller or inefficient players in sectors such as glass, steel and cement. In May 2016 the government stated that it intends would give c... |
Brazil: Votorantim opens BRL860m plant24 June 2016, Published under Cement NewsVotorantim Cimentos opened its 1.2Mta cement plant in Primavera, Pará yesterday. Votorantim expects the plant to reach 50-60 per cent capacity this year. The new works cost BRL860m (US$257.9m) and was planned almost five years ago. The new operation is part of Votorantim's expansion plan, aiming to increase its global capacity to approximately 59Mta by year end 2018. This expansion plan adds to previous investments of BRL12bn (US$3.59bn) made between 2007 and 2015, which resulted in a 94... |
Uganda's cement output slows24 June 2016, Published under Cement NewsUganda’s cement industry has seen a sudden reverse in prospects as the country’s Bureau of Statistics (UBOS) warned of lower cement production during the months of March and April 2016 and a drop off construction sector activity. Domestic cement producers have been reporting higher costs of production following the election, and depreciation of the Ugandan shilling (UGX) as reasons for the decline in output. UBOS stated that cement supply fell by 14.8 per cent in April 2016 compared to Ma... |
Syria: Lafarge protected interests from ISIS22 June 2016, Published under Cement NewsAccording to French newspaper Le Monde, Lafarge entered into deals with armed groups in Syria, including the Islamic State, to protect its staff and business interests in the country. Lafarge is yet to respond to queries from Agence France-Presse (AFP), saying only that "Lafarge's absolute priority has always been ensuring the safety and security of its staff." The Jalabiya cement works, situated 150km northeast of Aleppo, purchased by Lafarge in 2007 is at the centre of the ‘deals’ alleg... |
Adelaide Brighton sees potential in US$2bn acquisition22 June 2016, Published under Cement NewsAdelaide Brighton Group says it has carried out detailed work on a potential US$2bn acquisition of the Australia and New Zealand operations of LafargeHolcim, including a plan to address competition issues. Martin Brydon, Adelaide Brighton's chief executive, confirmed that Adelaide Brighton had been working with its longstanding takeover defence adviser Credit Suisse and Blackpeak Capital. Mr Brydon said that while LafargeHolcim had still given no indication it was selling the Austral... |
Philippines: Bullish Ordoñez opens Cemtech Asia21 June 2016, Published under Cement NewsThe Philippines will see cement consumption continue its upward momentum as the incoming Duterte administration maintains its predecessor's focus on public works. That was the message delivered by the President of the Philippines Cement Manufacturers Association (CeMAP), Ernesto Ordoñez, in the opening session of the Cemtech Asia 2016 conference in Manila. Ordoñez spoke of his recent meeting with President-elect Duterte in which the latter assured him that he was committed to maintainin... |
India: Jaypee Group still needs to reduce its debt level21 June 2016, Published under Cement NewsFor the promoters of Jaypee group, the aggressive expansion during the last decade has cost them dearly. The Delhi-based group had to sell profitable assets to remain afloat even as banks, alarmed by its defaults, are pressurising the group to put more assets on the block, writes the Business Standard. A senior banker with Mumbai-based public sector lender said the intent of Jaypee group to reduce debt level is genuine as evident from the sale of operating key operating assets like power p... |
USA: clearance for Italcementi acquisition20 June 2016, Published under Cement NewsOn 17 June 2016, the United States Federal Trade Commission reached an agreement with HeidelbergCement AG and Italcementi SpA allowing the merger between the two companies to proceed on schedule. The Federal Trade Commission accepted the proposed divestment of operations in the US, which primarily consists of Italcementi’s Martinsburg, West Virginia plant and up to 11 terminals. All competition approvals necessary for closing the Italcementi acquisition have now been obtained. The full... |