Cement News tagged under: international
Hyundai creditors agree debt workout04 June 2010, Published under Cement NewsCreditors of Hyundai Cement Co, a South Korean maker of cement and ready-mixed concrete, agreed on a debt workout for the company, bank officials said Friday. The creditors, led by the state-run Korea Development Bank (KDB), decided to reschedule Hyundai Cement’s debts by Sept. 3, and will discuss ways to help the country’s No. 3 cement producer get back on track, they said. The creditors have been seeking a debt workout scheme for the company as it is grappling with rising debt and a debt... |
Cemex’ priority is to reduce gearing04 June 2010, Published under Cement NewsAt its annual investor presentation, Cemex left the volume expectations for this year unchanged at 3% growth in cement and a 1% growth in aggregates, with ready-mixed concrete deliveries expected to be slightly lower than last year. EBITDA is expected to emerge in the region of US$2750m, some 3.5% higher than the US$2657m achieved last year. Capital expenditure this year is expected to amount to approximately US$630m, compared with US640m last year. Net debt remains high, at some US$18,... |
UOKiK’s activity in 2009, Poland03 June 2010, Published under Cement NewsAccording to the report on the activity of the Office for Competition and Consumer Protection (UOKiK) in 2009, the incidence unfair practices targeted against competitors is on the rise. Last year, the Head of the UOKiK issued 65 decisions concerning unfair competition practices. Among them was the decision concerning the so-called "concrete cartel", which was a secret agreement between a number of concrete manufacturers (LafargeCement, Gorazdze Cement, Grupa Ozarow, Cemex Polska, Dyckerho... |
Vietnam consumption update03 June 2010, Published under Cement NewsVietnam consumed 19.67Mt of cement in the first five months of this year, equalling 39% of its full-year target, the Ministry of Construction said without giving on-year comparative figure. The country’s cement sales fell to 4.31Mt in May from 5.01Mt in April, the MoC was quoted by the Thoi bao Kinh te newspaper as saying Thursday. Cement producers in Vietnam produced 4.36Mt in May, raising the country’s total cement output to 20.15Mt, fulfilling 40.3% of its full-year target. This year, ... |
Holcim’s Croatian unit temporarily idles ready-mix concrete plants03 June 2010, Published under Cement NewsThe Croatian unit of Holcim Group said on Wednesday it has temporarily suspended the operation of ready-mix concrete plants in Zabok and Bistra in response to the economic downturn. "The global crisis had a strong impact on the domestic construction industry. [...] Cement consumption on the local market fell 24% in 2009 and there is high probability for a 15% contraction this year," Holcim Hrvatska said in a statement. Given the current conditions, the management of the company was forced ... |
Roanoke Cement commended for safety, air quality03 June 2010, Published under Cement NewsState and county officials on behalf of the North Carolina Department of Labour and County of Forsyth, respectively, honoured Roanoke Cement Co.’s Winston-Salem terminal for outstanding safety and air-quality compliance. Roanoke Cement Co. is a subsidiary of Titan America LLC. Terminal management received the Department of Labor’s First Year Gold Safety Award for an injury-free year at the facility in 2009. To qualify for the award, an operation must sustain throughout the calendar year no... |
Sephaku to receive cash injection, South Africa03 June 2010, Published under Cement NewsNigerian manufacturing conglomerate Dangote is to invest ZAR779m in South African cement company Sephaku Cement, increasing its stake to 64%, from 19.8%. The capital injection followed on Dangot’s initial ZAR350m investment and would fully fund the equity requirement for the South African company’s ZAR3bn, 2.2Mta cement project. Sephaku Cement is building two new manufacturing facilities, including: the Aganang cement works in North West province and a cement grinding facility at Delmas in... |
Saudi cement and clinker sales rise03 June 2010, Published under Cement NewsCement and clinker sales in Saudi Arabia, including exports in April, stood at 3.91Mt, reporting an increase of 16.5 per cent YoY, NBC Capital said in its monthly report. However, sales decreased by 7.8 percent month-on-month compared to 4.24Mt in March, the report noted. Cement exports stood at 105,000t in April this year, up 47.9 per cent YoY. However, on a month-on-month basis, cement exports declined 1.9 per cent from 107,000t in March. In April 2010, cement production fell by 3.2 per... |
Asia Cement building presence in China03 June 2010, Published under Cement NewsAsia Cement Corp., a major producer of cement in Taiwan, announced a budget of US$127.32m to expand production capacity in China. The producer will expand capacity by 6Mt in central China via mergers and self-built plants. Asia Cement will budget CNY236m to buy 70% of Xinlinyun Cement Corp. in Wuhan, Hubei province through its China subsidiary-Asia Cement China Holding Co. Once finalised by the end of June, the acquisition will help Asia Cement boost annual output by 2Mt. Asia Cement’s par... |
UAE demand for cement falls 30 per cent02 June 2010, Published under Cement NewsDubai’s construction slowdown is cited as the main reason for drop with no sign of an early rebound The domestic demand for cement in the UAE has fallen by 30 per cent when compared with 2009 and by 45 per cent on 2008. MEED surveyed 10 producers in the UAE. On average, suppliers said they were now producing less cement than they were in 2009 because domestic demand has fallen. “The market for the whole UAE is down by about 30 per cent [compared to 2009],” an executive from a Fujairah-base... |