Cement News tagged under: international
Rising input costs dent mid-cap cement firms quarter, India30 April 2010, Published under Cement NewsRising input costs are expected to dent the bottomlines of Indian mid-cap cement firms during the Jan-March quarter, despite part of the hike being passed on to consumers, industry watchers said. "Last year (in comparable quarter) realisation was on the higher side, and in this quarter there is an input cost pressure," Rupesh Sankhe, an analyst with Angel Broking told Reuters. The input cost pressure has impacted the sector by around 350 basis points. This was mainly due to rise in coal ... |
Holcim to seek tender bids for NZ plant this year30 April 2010, Published under Cement NewsHolcim seek tenders for construction of a new plant on New Zealand’s South Island before making a final investment proposal for the project. Tenders will be sought later this year, though the exact timing is yet to be settled, Mary Pauwels, a spokeswoman for Holcim New Zealand said. The company is refining the costs of the project and aims to put its proposal to its Swiss parent by year-end, she said. Holcim has been considering the project near Oamaru since 2006 to replace its ageing We... |
Argos consolidated net profit falls, Colombia30 April 2010, Published under Cement NewsCementos Argos, Colombia’s largest cement company, said Thursday its consolidated net profit in the first quarter fell 82% in dollar terms from the same period a year ago to US$18m, reports Dow Jones Newswires. The company attributed the net-income decline to a one-time revenue in the first quarter of 2009 from the sale of coal assets to Brazilian mining giant Vale do Rio Doce (RIO). Cementos Argos received US$300m for the sale of its coal assets during the first quarter. The company’s c... |
UltraTech buys 51% stake in ETA Star Cement, Dubai30 April 2010, Published under Cement NewsAditya Birla Group’s cement arm, UltraTech Cement, has announced the acquisition of Dubai-based ETA Star Cement Company, a move that will give the group entry into markets like the UAE, Bahrain, Bangladesh and Sudan. The cost of the acquisition was not disclosed. The acquisition will be carried out by capitalising UltraTech Cement Middle East Investments, a wholly-owned subsidiary of UltraTech Cement in the UAE. The subsidiary will acquire management control and equity stake at all locatio... |
China sees recovering cement exports – Ministry30 April 2010, Published under Cement NewsChina exported 4.28Mt of cement and clinker in the first quarter of this year, 20.6% more than in the same period of 2009, according to statistics released by the Ministry of Industry and Information Technology. In the first three months, the country exported 2.03Mt of clinker, translating into a 19.4% increase in the same period last year. Cement exports were 2.25Mt in the first three months, up 21.7% YoY. The ministry said the exports of cement and clinker in the first quarter were sti... |
Votorantim expansion update, Brazil29 April 2010, Published under Cement NewsBrazil’s leading cement producer, Votorantim, will open eight new cement factories by 2013 as part of its BRL5bn (US$2.84bn) investment plan for 2007-13. The new factories will be built in the states of Paraná, Bahia, Ceará, Maranhão, Goiás, Mato Grosso and Pará (two plants), news service Agência Estado reported. By 2013, the company will have a total of 35 plants and a production capacity of 42Mta. The total number of plants would have been 38 but the company will hand over three fact... |
Reliance ADAG plans 5.5Mta plant, India29 April 2010, Published under Cement NewsReliance Anil Dhirubhai Ambani Group (ADAG) is planning to set up a 5.5Mta cement plant in Karnataka, India with an investment of INR1500 crore. “The company has shown interest to build the cement plant in Chittradurga district,” VP Baligar, principal secretary of the commerce and industries department, government of Karnataka, said. According to official sources, the Karnataka government is expected to sign a Memorandum of Understanding with Reliance during the forthcoming Global Investo... |
China Shuangji Cement sees strong domestic demand29 April 2010, Published under Cement NewsChina Shuangji Cement, a leading producer in the Shandong and Hainan provinces in China, announced that it sees increasing demand for its high-grade bulk cement as China’s economic expansion continues to surge and inflation remains in check Mr Wenji Song, chairman and president of China Shuangji Cement commented: “China’s construction industry continues to experience strong demand for new buildings and infrastructure, resulting from the country’s strong economic growth in the first quarter... |
Siam Cement confident of reaching revenue target, Thailand29 April 2010, Published under Cement NewsDespite political uncertainty, the Siam Cement Group remains confident of achieving its revenue growth target of 10 per cent this year, The Nation reports. This is thanks to higher paper prices and continued momentum in chemical products. President and CEO of the company, Kan Trakulhoon on April 28 said first quarter revenue increased 24 per cent YoY on increased sales volumes of subsidiaries SCG Paper and SCG Building Material and improved income contributions from SCG Chemicals’ associat... |
Alexandria Cement plans US$422m rights issue29 April 2010, Published under Cement NewsEgypt’s Alexandria Cement received the go-ahead for a E£2.45bn rights issue scheduled to begin May 19, the stock exchange said on Wednesday. The transaction will pave the way for Alexandria Cement’s main shareholder, Greek cement maker Titan, to sell a 16 per cent stake in Alexandria to the International Finance Corporation (IFC) for EUR80m. The company will use the proceeds of the rights issue to buy 95 per cent of another Egyptian cement maker, Beni Suef Cement Co, which is also owned ... |