Cement News tagged under: india
HASLE Refractories opens India subsidiary04 March 2013, Published under Cement NewsHASLE Refractories A/S, former FLSmidth company, has established a subsidiary in Hyderabad, India. HASLE Refractories India Pvt Ltd will be headed by Mr Sumanta Mukhopadhyay, who has more than 20 years of experience in industry. Harpreet Singh, former agent for HASLE Refractories in India, has been designated as group senior advisor with special tasks in the Middle East. Owner of HASLE Refractories Mr Michael Bladt, Denmark, was at the opening of the office in Hyderabad in India, an... |
Pakistan exports volumes fall, rise in value terms28 February 2013, Published under Cement NewsPakistan exports during the first seven months of the current fiscal year (FY12-13) fell 0.52 per cent to 5.076Mt, according to data released by Pakistan’s Federal Bureau of Statistics. In terms of value, however, exports rose by 24.67 per cent to US$273.33m. The average export price of cement increased by 25.31 per cent to US$67.12/t in the seven months from US$53.56/t of 7MFY 2011-12 In January 2012 alone, Pakistan exported 488,884t of cement and earned US$36.25m compared to 90... |
India: cement industry worried over move on freight tariff27 February 2013, Published under Cement NewsThe Indian cement sector has expressed concern about the Railway Ministry’s proposal to pass on the rising costs of fuel on to the freight tariff. Apart from the potential to drive up freight costs, industry representatives were worried about the “uncertainty” this would introduce into the freight cost. N Srinivasan, vice-chairman and managing director of India Cements, said the move “leaves the industry in suspense” on the “frequency and basis of hike.” It is as if the freight hike will be... |
India’s COMPAT hears petitions on cartel ruling25 February 2013, Published under Cement NewsIndia’s Competition Appellate Tribunal (COMPAT) has begun hearing the petitions filed by cement firms on a US$1.1bn penalty imposed on them by the Competition Commission of India on grounds of cartel practices. A COMPAT bench, headed by its chairman Justice VS Sirpurkar, began hearing the petitions last week and the hearings are expected to resume today (Monday 25 February) and be carried out on a fast-track basis this week, the Economic Times of India reports. The Competition Commissi... |
Italcementi launches five-year bond, Italy25 February 2013, Published under Cement NewsItalcementi, the fifth-largest cement producer in the world, has launched a five-year bond of EUR350m at an issue price of EUR99.477 and a coupon of 6.125 per cent, according to reports in La Stampa. At the closure of the placement, orders exceeded EUR 2.5bn. Credit rating agency Moody's has rated the Italcementi bond Ba2 with a "negative" outlook. For 2013, Moody's expects Italcementi to face challenging market conditions in its key markets Egypt and France and, to a lesser extent, in Mor... |
Zuari Cement recognised for marketing activities25 February 2013, Published under Cement NewsZuari Cement has won the 2012 Zee Business brand excellence award for Marketing Communications. This annual award is endorsed by the World Brand Congress & Asian Confederation of Businesses and entrants are judged by a jury. The award gives recognition to those brands and marketeers who have achieved success through innovative and effective marketing practices, with regard to particular circumstances of different industries, budgets and the diversity of marketing programmes.This year's... |
Sanghi Industries 2QFY13 sales up 26%22 February 2013, Published under Cement NewsSanghi Industries reported a 26 per cent rise in turnover for the second quarter of the year ended 31 December to INR286.3 crore. According to reports in the Business Standard of India, Sanghi Cement's net profit rose to INR21.6 crore in the second quarter as against a net profit of INR3 crore in the corresponding quarter of the previous fiscal. For the first half of the year, net profit stood at INR 39.8 crore against a net loss of INR 34.3 crore in the first half of the last year. Comme... |
Binani Industries plans to sell 40% stake in cement arm, India21 February 2013, Published under Cement NewsBinani Industries in talks to sell up to a 40 per cent stake in its subsidiary Binani Cement to raise capital to cut debt and expand cement capacities. The company is said to be in talks with potential financial investors such as JP Morgan and state-owned funds, according to latest reports by the Economic Times. Ernst & Young (E&Y), Braj Binani’s group banker for the transaction, has been in talks with prospective investors, two sources disclosed. In response, Sunil Sethy, executive v... |
CMA calls for a reduction in excise duty, India21 February 2013, Published under Cement NewsAhead of the government’s forthcoming Budget, the Cement Manufacturers Association of India has called for a reduction in the current excise duty on cement to bring it more in line with other core industries. It has also requested a revision to duties on imports of cement and on raw materials for cement production. The Economic Times of India published a statement by the CMA stating: “To encourage the cement industry and to bring it at par with other core infrastructure industries, the ex... |
HeidelbergCement India increases cement capacity to 6Mta19 February 2013, Published under Cement NewsHeidelbergCement confirmed yesterday that it has successfully completed the expansion of its clinker and cement grinding capacity in Central India. The plants are located in Damoh district (Narsingarh and Imlai facilities) in Madhya Pradesh and in Jhansi, Uttar Pradesh. Trial runs of the expanded plants were successfully conducted between November 2012 and January 2013 and the production capacities were now officially commissioned. Capital expenditure for the project amounted to €216m. W... |