Cement News tagged under: Weekly Newsletter
Italy: price fixing probe opened27 November 2015, Published under Cement NewsItaly's antitrust authority has opened a probe into four cement makers for alleged price fixing, it said in a statement on Thursday. The companies under investigation include Buzzi Unicem, Cementir Italia, Industria Cementi Giovanni Rossi and Holcim Italia, the watchdog said. The authority said it had carried out inspections in the offices of the four firms on 25-26 November. "The case concerns the possibility of an agreement ... to coordinate cement sales price increases," it added. ... |
CPA revises construction outlook26 November 2015, Published under Cement NewsThe Construction Products Association (CPA) expects further growth for the UK construction industry, although the latest forecast reflects a downward revision since the summer owing to a slowdown in third-quarter housing and commercial activity. In a statement released earlier this week, the association said construction output is expected to increase 3.6 and 3.8 per cent in 2015 and 2016, respectively, revised down from 4.9 per cent and 4.2 per cent in the Summer Forecast. Highlights fro... |
PPC expects "massive growth" in African demand25 November 2015, Published under Cement NewsPPC expects "massive growth" in African cement demand over the next 35 years, driven by a growing population, rising wealth and greater ease of doing business, CEO, Darryl Castle, has said. The release of PPC's full-year earnings to the end of September 2015, showed that the company has achieved more than 50 per cent of a ZAR400m (US$28m) profit-improvement target announced in May, and a goal of generating 40 per cent of revenue from the rest of Africa by 2017 is “within reach,” ... |
PCA forecast sees continued growth24 November 2015, Published under Cement NewsDuring the PCA Board of Directors meeting last week, PCA Chief Economist and Group Vice President, Ed Sullivan, reported that 2015 cement consumption in the United States will continue to grow, but at a slower pace than predicted at the beginning of the year. The US cement market is expected to increase by 3.5 per cent in 2015, followed by larger rates of growth in 2016 and 2017, of five percent and 5.7 per cent, respectively. The PCA said in a statement that the slowdown in cement inten... |
ASEC Cement closes sale to Misr Cement Qena24 November 2015, Published under Cement NewsASEC Cement, a business unit of Qalaa Holdings, on Sunday announced it reached financial close on the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co to Misr Cement Qena for total consideration of around EGP1bn (US$127m). “We are pleased to announce the sale process closed today, putting in place another cornerstone in our strategy to deleverage at both the holding and platform company levels,” said Qalaa Holdings chairman and founder, Ahmed Heikal. “Both ASE... |
Colombia: Argos 3Q15 profits jump 63% YoY23 November 2015, Published under Cement NewsCementos Argos has announced a 63 per cent hike in profits for 3Q15. Revenues are up 35 per cent while EBITDA saw a 41 per cent advance. Dispatches were up to a record 3.8Mt, a 15 per cent rise. For the nine-month period ended September, total cement sales reach 10.7Mt, reflecting an increase of 14 per cent when compared with 9M14. Argos concrete sales, which were particularly successful in the US and Colombia, advanced seven per cent to 9Mm3 in the quarter and five per cent in the first nin... |
CRH reiterates 2015 guidance19 November 2015, Published under Cement NewsCRH reported that its third-quarter trading environment benefitted from continued positive momentum in the Americas where overall economic recovery is driving construction demand. The backdrop in Europe continues to be mixed but stable. Cumulative sales from continuing operations amounted to EUR15.5bn the nine months to the end of September, an increase of 16 per cent compared with the corresponding period in 2014. EBITDA from continuing operations was EUR1.5bn, an increase of 34 per cen... |
Cimpor hit by the weakness in Brazil19 November 2015, Published under Cement NewsCimpor's nine month turnover declined by 1.2 per cent to EUR1,927.9m and the EBITDA came off by 14.2 per cent to EUR395.1m as cement deliveries in Brazil, Egypt and South Africa fell by 15.8 per cent, 13.8 per cent and 7.7 per cent respectively. Argentina, on the other hand, improved shipments by 9.3 per cent. The trading profit (EBIT) came down by 22.7 per cent to EUR248.5m and the net financial charges declined by 4.6 per cent to EUR274m, to give a pre-tax loss of EUR25.5m compared with... |
SCC Asean expansion on track18 November 2015, Published under Cement NewsThailand's largest cement producer Siam Cement Co (SCC) said it is on course to bring 6.3Mta of new cement capacity online in its key target markets of Cambodia, Indonesia, Myanmar and Laos between 2015-17. In an update on its strategy for its cement & building materials unit, reported on by SCB Securities in The Nation (Thailand), SCC said the investment programme is expected to not only provide SCC with high demand growth and a good margins but also offer a borderless network, lower logis... |
Saudi 10-month demand update18 November 2015, Published under Cement NewsSaudi Arabia consumed 50.2Mt of cement in the first 10 months of 2015, up by eight per cent, reflecting increased construction activity in the kingdom, according analysts Aljazira Capital. Cement dispatches for October 2015 reached 5.13Mt from 4.06Mt in October 2014, signalling a rise of 18.2 per cent MoM and 26.2 per cent YoY. The research house forecasst that cement demand will maintain a modest growth in the short term due to the recovery of the local market after last year’s shortage of... |