Cement News tagged under: international
Weak private sector leads to continued pressure on Vulcan05 May 2010, Published under Cement NewsVulcan Materials’ first quarter turnover declined by 18.0% to US$493.3m and the EBITDA fell by 39.3% to US$58.8m. At the trading level the loss widened from US$1.3m to US$36.8m. With the net interest expense edging up by 0.4% to US$43.3m, the pre-tax loss widened by 72.8% to US$78.7m and the net attributable loss for the period was 18.2% higher at US$38.7m. Net debt at the end of the period was 1.5% higher than a year earlier at US$2365.2m, giving a gearing of 58.2%. Capital expenditure... |
Holcim Philippines may hike prices by July05 May 2010, Published under Cement NewsManagement at Holcim Philippines say it may hike prices of cement by July, in a bid to ease margin pressures caused by the power crisis in Mindanao and the need to import clinker from Japan, local press report. In a briefing following Tuesday’s stockholders meeting, newly appointed Holcim Philippines chief operating officer Roland van Wijnen said the company had already held off on jacking up prices in typhoon-hit areas last year, opting instead to hike prices in Northern Luzon and Mindana... |
Carib Cement sees further decline, Jamaica?05 May 2010, Published under Cement NewsCaribbean Cement Company Limited has released more disappointing financial results as it continues to be hit hard by the downturn in the Jamaican economy and increased competition. Local press reported that net profit for the three months ending March was JMD4.6m (US$52.3m) compared to JMD130m during the corresponding period last year. Caribbean Cement cited the continuing contraction in the economy and the resultant reduction in the demand for cement, along with the loss of local sales t... |
Bhilai Jaypee Cement project faces government block, India05 May 2010, Published under Cement NewsThe Chhattisgarh government has refused to grant permission to Bhilai Jaypee Cement Ltd as the company had allegedly violated norms while constructing structures for its plant in the Durg district, Business Standard reports. The cement plant is a joint venture between the Jaypee Associates and Steel Authority of India Limited (SAIL). The cement plant, attached to the SAIL’s Bhilai Steel Plant (BSP), aims to produce 2.2Mt of slag-based cement per year. Jaypee Associates has 74 per cent stak... |
Lehigh resumes full production mode for May, USA05 May 2010, Published under Cement NewsThe Lehigh Southwest Cement plant will be in production mode with a full labour force until the end of May, when the kiln and quarry again will go silent and employees will be laid off temporarily. “We’ll go through the same cycle as last year, with layoffs in the summer,” said Craig Mifflin, manager, environment and public affairs. “It will be a repeat close to 2009, off and on as needed for production. “Up and down, up and down – the same cycle.” Plant management restarted product... |
Oil well cement possible rig blow-out cause05 May 2010, Published under Cement NewsThe recently exploded US Gulf rig, Deepwater Horizon, may have been the result of faulty well cementing procedures. To prevent oil and natural leakage, rig workers pump cement down wells after they’ve finished drilling. This process requires a very particular type of cement and if it is flawed, it can crack or fail to set properly, allowing oil and gas to leak through. If gas escaped through the Gulf rig’s cement, it could have shot back up the well –what is known as a "blowout" – and ignit... |
Lafarge Nigerian unit sees 3Q profit down by half05 May 2010, Published under Cement NewsLafarge Cement Wapco, the Nigerian unit of the world’s biggest cement maker Lafarge, expects third quarter pre-tax profit to halve to NGN3.4bn from a year earlier. The company on Wednesday forecast turnover for the three months to September 30 at NGN14.6bn compared to NGN35.1bn reported in the same period last year. |
Irish Cement announces loss of 135 jobs04 May 2010, Published under Cement NewsDiscussions between unions and management at Irish Cement will continue next week after it was announced that 135 jobs are to be lost. The Irish Times reports a total of 70 jobs are to go at its facility in Limerick, with a further 65 in Platin, Co Meath. The job losses follow voluntary redundancies of 30 per cent of the workforce announced last year. According to Irish Cement, the restructuring plan is necessary due to the fall in demand. The company said in a statement, the company said ... |
Ambuja Cements reports higher April shipments04 May 2010, Published under Cement NewsAmbuja Cements, India’s No. 3 cement maker, reported April shipments rose 15.6 per cent from a year ago to 1.9Mt. The company, in which Holcim holds about 46 per cent, said production in April rose to 1.91Mt from 1.65Mt a year earlier. |
Tanga Cement suspends further expansion, Tanzania04 May 2010, Published under Cement NewsTanga Cement Company has announced suspension of further expansion projects in reaction to what it termed as unpredictable policies aimed at protecting local industries. According to Mr Fluhmann, the managing director of the company which last year commissioned a new cement mill and packing unit that led to increased cement production of up to 1.25Mta, removal of the suspended duties on cement has resulted in dumping of subsidised cement, mainly from Pakistan, into the local market. Mr F... |