Cement News tagged under: corporate
Indonesia: Indocement hopes for strong consumption growth11 May 2016, Published under Cement NewsIndocement Tunggal Prakarsa President Director, Christian Kartawijaya, has predicted that cement consumption in Indonesia could grow by 3-5 per cent in 2016, having grown by 3.4 per cent in 2015. According to the Jakarta Post, Mr Kartawijaya highlighted government investment in infrastructure and falling interest rates as the key drivers of higher demand. The Indonesian government has allocated IDR313.5trn (US$23.51bn) to infrastructure projects in 2016, up eight per cent on the previo... |
PT Semen Padang issued new forest mining licence11 May 2016, Published under Cement NewsPT Semen Padang has been granted land use of a forest area covering an area of 243.3ha in Indonesia. In accordance with IPPKH and Permit Mining limestone (IUP 412ha) owned since 1996, PT Semen Padang can continue its activities in excavating limestone in the Bukit Tarjarang area and in Bukit Karang Putih as it has done since 1910. The mining of limestone in Bukit Tarjarang is particularly associated with need for raw materials for the Indarung-VI cement plant, located at Indarung, distr... |
India: ECO Cement to produce for Prism Cement11 May 2016, Published under Cement NewsCogencis EquityWire reports that ECO Cement (ECL) and Prism Cement have reached an agreement whereby the former will manufacture and supply cement to the latter. "The arrangement with ECL is expected to help the company optimise its logistic costs as well as improve local availability in its strategic markets of Bihar," Prism Cement said. ECL operates a cement-grinding plant with a capacity of 0.6Mta in Bihar's Bhabhua district. |
India: Sagar Cements ordered to stop mining in Sulthanpur forest10 May 2016, Published under Cement NewsSagar Cements have been ordered by the National Green Tribunal (NGT) to cease mining activity in Sulthanpur forest in Telangana following a complaint that the company was encroaching on forest land. According to reports in the Hindu, Sagar have been accused of illegally mining in the forest reserve. The Director of Mines and Geology has asked the firm to cease activity in the reserve area. The NGT has asked the director to submit an action taken report during the next hearing slated fo... |
Ireland: Irish Cement challenging compulsory land purchase10 May 2016, Published under Cement NewsA High Court challenge has been set in motion by Irish Cement, opposing an order allowing the compulsory purchase of its Co Limerick lands to expand the harbour facilities at Foynes. The compulsory purchase order (CPO) covering 37.5ha of Irish Cement’s property was granted to Shannon Foynes Port Company in March. Denis McDonald, counsel for Irish Cement, has said that An Bord Pleanála did not properly assess his client's constitutional property rights when reaching the decision to gra... |
North America: Lehigh Hanson and Essroc closer to integration10 May 2016, Published under Cement NewsIntegration of Lehigh Hanson and Essroc Cement is one step closer, with a scheduled mid-summer closing, as reported by Aggregate Research. With the merger of HeidelbergCement and Italcementi, the amalgamation of two of the US cement subsidiaries is moving ever closer. Shareholders of both firms were informed of Competition Bureau of Canada approval, as well as the forthcoming US Federal Trade Commission clearance of a combined Lehigh Hanson and Essroc Cement business, at the recent Heidelbe... |
India: Dalmia removes barrier to Lafarge-Holcim merger10 May 2016, Published under Cement NewsAn application for withdrawal made by Dalmia Cement Ltd has been accepted by The Competition Appellate Tribunal (COMPAT). Dalmia Cement had previously challenged an approval given for the merger by the Competition Commission of India (CCI). Dalmia Cements cited recent developments in the Mines and Minerals Act and uncertainties in legislation regarding mining and prospecting licences as reasons for the appeal being unwarranted. A representative of the CCI did not object to the withdrawal,... |
Pakistan: Bestway Cement pretax profits up 45%09 May 2016, Published under Cement NewsIn an earnings statement released today, Bestway Cement announced that its pretax profits for 9MFY2016 were PKR12.64bn (US$121m), up 45 per cent on the same period last year. After tax, the firm’s profits were up 49 per cent, to PKR9.24bn (US$88m). According to a report in the Nation, Bestway’s turnover rose by over 49 per cent to PKR32.91bn (US$314m). The scale of the increase was attributed to Bestway’s acquisition of Pakcem and increasing domestic demand. This was offset to a degree... |
India: Birla sees Q4 profit rise to US$17m09 May 2016, Published under Cement NewsBirla Corporation has released its earnings figures for the three months to 31 March 2016, during which time the firm achieved a profit of INR1.16bn (US$17.4m), up fourfold on a year earlier, the Hindu reports. Revenue for the quarter rose by nine per cent to INR8.7bn (US$131m). Full-year earnings saw total income rise by two per cent to INR32.7bn (US$492m), while profits were down 10.3 per cent at INR1.57bn (US$24m). Chairman, H V Lodha, said that both the cement and jute divisions pe... |
India: Grasim and UltraTech well positioned for growth09 May 2016, Published under Cement NewsGrasim Industries, a subsidiary of UltraTech, has announced impressive results and signs of a recovery in cement demand growth, which is estimated at ~11.5 per cent for the current quarter. Meanwhile, UltraTech outpaced the industry with domestic volume growth of 15 per cent. Revenue for the quarter was INR69.2bn (US$bn1.04bn) vis-à-vis INR65.95bn (US$991m) in 4Q15. EBITDA was up by three per cent at INR14.78bn. helped by enhanced volumes and lower fuel prices. Net profit was INR7.23bn co... |