Cement News tagged under: international
Shiva Cement gets green light to build power plant04 May 2010, Published under Cement NewsShiva Cement has received the approval from its board for the establishment of a 25MW power plant along with coal washery with capital outlay of about INR130 crore. The company has authorised managing director to obtain all statutory approvals. The board gave its approval for at its meeting held on April 29, 2010. The company has its plants located at Kalunga and Sundargarh in Orissa. |
Weak prices drag India Cements Jan-Mar net 59 per cent04 May 2010, Published under Cement NewsA sharp fall in cement prices in south India hit India Cements, with its Jan-March net profit falling 59% YoY to INR383.2m. Revenue for the quarter rose 8.7% YoY to INR9.64bn led by robust volume growth of 26.6%. However, this did not translate to an improved botomline due to lower cement prices. Net realization for the March quarter slipped 19.4 per cent to INR3120/t as prices in the company’s key market – Andhra Pradesh, Karnataka and Tamil Nadu – declined 20% from a year ago. A fall ... |
Lafarge forced to make changes in Seattle plant, USA04 May 2010, Published under Cement NewsDue to market conditions and a changing regulatory environment, Lafarge North America announced on April 29, 2010 that it will cease clinker production at its Seattle cement plant at the end of 2010 and put the kiln in a care and maintain mode. The facility will then become a facility dedicated to cement grinding, blending and shipping. Seattle plant manager Richard Sebastianell said: We are letting our people know now. Our best intention is to give us the maximum time available to find a s... |
Vietnam: securing new export markets04 May 2010, Published under Cement NewsPlans by Vietnamese cement producers to ease a surplus in the domestic market by ramping up exports of cement may be difficult to carry out, according to several experts from the sector. General director of the Cement Finance Company (CFC) Bui Hong Minh said that while expanding exports might in part help ease the cement surplus, securing new markets for Vietnamese cement would be a difficult task. "Exporters have to pay considerable costs for intermediaries, thus pushing prices higher," s... |
Holcim posts loss, hit by harsh winter, weak economy04 May 2010, Published under Cement NewsHolcim reported a first-quarter loss on slumping demand in Europe and North America. Net loss reached SwFr68m (EUR47m) for the first three months of the year, as the group was hit by a one-off charge of EUR182m for the restructuring of its North American business. "It was a mixed picture in the global construction markets during the first quarter of 2010," said the group. While sales fell by 11.7 per cent in Europe and 12.2 per cent in North America during the period, in Asia Pacific, they... |
Egypt opens bidding for two cement licences04 May 2010, Published under Cement NewsEgypt opened bidding for two cement production licences on Monday but will not allow existing cement firms in Egypt to bid in an effort to boost competition and bring down prices, the industrial authority said. The two licences will replace ones that had been held by El Wadi Cement and North Sinai Cement but which were cancelled late last year over start-up delays and financing shortfalls. Both firms were granted their licences in 2007. “Companies that were given licences in 2007 or are cu... |
Holcim Philippines plans to raise capital expenditure04 May 2010, Published under Cement NewsHolcim Philippines Inc. is planning to raise capital expenditures to PHP2.2bn this year as it invests in raising plant efficiencies amid stronger demand. In a briefing after the firm’s annual stockholders’ meeting Tuesday, Holcim chief operating officer Roland van Wijnen said that, in the past three years, they had been spending about PHP2bn each year. However, the firm lowered capex last year because of the global crisis which dampened demand. But this year, Wijnen said they will try to... |
Century may resume shipping business, expanding cement interests04 May 2010, Published under Cement NewsDiversified Century Textiles & Industries Ltd plans to restart its shipping business, which it had shut down about eight years ago, due to a buoyant shipping industry. "We had closed the business 7-8 years back due to market conditions. We are now considering restarting it," RK Dalmia, senior president at Century Textiles, told Reuters. "We had sold all our vessels back then, so we do not have any vessels at present," he said. Century, whose FY10 net grew 43% to Rs 339 crore on higher re... |
Pakistan cement sector posts nine-month loss03 May 2010, Published under Cement NewsThe Pakistan cement sector posted losses for the first nine months of the fiscal year 2010, mainly attributed to the fall in cement prices. A price of cement per bag was over PKR330 last fiscal year which has fallen to below PKR275 per bag this fiscal year. Financial costs also continued to be a major factor for the loss. The cement sector’s recorded cumulative losses of Rs3.3billion in the first nine months of the fiscal year 2010 compared to profits of Rs3.7 billion in the corresponding pe... |
Cemex eyes India market30 April 2010, Published under Cement NewsCemex is looking to enter the massive Indian cement market as it recovers from last year’s debt crisis and aims to sell off more assets to cut its arrears, the company said on Thursday. The Times of India reported on Wednesday that Cemex is in talks to buy a stake in south India-based Penna Cement to move into the world’s second-largest cement market. "We are looking all over the world. We would like to be in India, yes," Chief Executive Lorenzo Zambrano told a news conference in the com... |