Cement News tagged under: Weekly Newsletter
Thailand demand growth to halve in 201424 March 2014, Published under Cement NewsThe protracted political crisis in Thailand is impacting the domestic construction market, and cement consumption is expected to grow at half the rate expected, according to President and CEO of Siam Cement Group. "The overall market of cement and construction materials has shrunk over the past couple of months thanks to the sluggish economy which has been hit by the prolonged political problems,'' Mr Kan told the Bangkok Post. "Earlier we forecast the two industries should increase by 8-9... |
MPA: Budget generally positive, concerns remain21 March 2014, Published under Cement NewsReacting to the UK Budget 2014 announcement earlier this week, the Mineral Products Association (MPA) said the measures outlined are generally positive for the mineral products sector, but support for energy intensive industries remains a major concern. In a statement released yesterday, the MPA said that in overall terms it welcomes the measures announced on Wednesday and is encouraged by the Economic and Public Expenditure forecasts. However, its outstanding concern is that the Budget me... |
ASEC in talks to sell Zahana stake, Algeria21 March 2014, Published under Cement NewsASEC Cement, a subsidiary of Citadel Capital, is looking to divest its minority stake in Zahana Cement Company of Algeria. In a statement released yesterday, Citadel Capital said that Yahia Bachir, director General of Ciments Algerie (GICA) – the Algerian holding company that controls all public-sector entities operating in the building materials sector – has publicly stated that the Algerian state is studying “buying out its Egyptian partner in a cement plant project.” Citadel Capital ha... |
Spanish demand falls short of forecasts20 March 2014, Published under Cement NewsCement demand in Spain fell 9.8 per cent YoY in February 2014 to 773,293t, according to the latest data released by domestic cement association, Oficemen. Over the first two months of 2014, consumption was down by 11.8 per cent, declining more than Oficemen’s forecast of eight per cent. However, the association said it expects consumption trends over the coming months to be more in line with its 2014 estimates. Following a 19.2 per cent reduction in 2013, Oficemen expects the rate o... |
Indocement outlines capex to raise capacity20 March 2014, Published under Cement NewsPT Indocement Tunngal Prakarsa, the second-largest cement producer in Indonesia, plans IDR4-4.5trn (US$349m-393m) in capital expenditure to increase capacity and lift market share. Updating stakeholders on the company’s 2013 performance at a public presentation earlier this week, Indocement said it sold 18Mt of cement last year, just 0.5 per cent more than 2012. Its market share dipped to 30.4 per cent from 32 per cent in the previous year, a decline the company attributes to a lack of add... |
Iran cement prices set to increase19 March 2014, Published under Cement NewsIranian cement prices are set to increase by 14-21 per cent in the next Iranian calendar year (starting 21 March 2014), local press have reported. The Iran Cement Producers Association and the Industry, Mine and Trade Ministry earlier this year signed an agreement allowing the association to decide on prices, Iran’s ISNA News Agency reported. During the current year, prices rose by 14-21.5 per cent. The country produced 58.226Mt of cement in the first 10 months of this year, of whic... |
Indonesia February cement sales advance17 March 2014, Published under Cement NewsIndonesian cement sales rose 2.7 per cent last month to 4.4Mt from a year earlier, state-owned Semen Indonesia announced, citing data from Indonesia Cement Association (ASI). Cement sales during February 2014 in the main market of Java rose four per cent to 2.5Mt from the same period last year, despite the eruption of Mount Kelud in East Java on 13 February which disrupted flights and economic activities in the surrounding areas. Shipments in East and West Java rose just over 12 per cent... |
Asia Cement (China) seeks M&A activity, strategic alliances17 March 2014, Published under Cement NewsAsia Cement’s China subsidiary is seeking mergers and acquisition opportunities, as well as the creation of strategic alliances, to raise production capacity and boost its competitive edge. Asia Cement (China) will target cement producers in China, including small and medium-sized firms in different regions. In early January, Asia Cement and its Chinese subsidiary singed a strategic partnership with Anhui Conch and China Conch Venture Holdings to explore opportunities in sharing green te... |
Thatta Cement's Sri Lanka port project on hold17 March 2014, Published under Cement NewsPakistan-based Thatta Cement has temporarily suspended its proposed grinding and bagging plant in Sri Lanka’s Hambantota Port as it awaits the Land Lease Agreement (LLA) to be signed by relevant authorities. In a filing to the Karachi Stock Exchange, Thatta Cement said that the Sri Lanka Ports Authority (SLPA) has not executed a LLA despite the “basic engineering being completed.” Muhammad Taha Hamdani, CFO and company secretary of Thatta Cement, expressed its dissatisfaction that SLPA... |
Fitch Affirms Holcim rating, outlook stable13 March 2014, Published under Cement NewsFitch Ratings has affirmed the Long-term Issuer Default Ratings (IDR) of Swiss cement major of Holcim as at BBB. The outlook is stable. The ratings agency said the affirmation reflects Holcim's leading market positions as one of the world's largest cement producers and its improving financial profile. The group reduced leverage to 3.5x in 2013 from 4.2x in 2011 (on a fully consolidated basis), supported by in excess of CHF1bn in non-core net asset disposals over the past two years. Earning... |