Cement News tagged under: international
Job fears at Platin Cement, Ireland29 April 2010, Published under Cement NewsDiscussions are in progress between Irish Cement and its trade unions at Platin and Castlemungret in Limerick over a proposed restructuring by the company, according to local press reports. Yesterday (Tuesday) the company declined to comment on reports that between 40-50 per cent of its workforce in the two plants would be let go. Over 200 people are employed at the Platin factory, just outside Duleek. The company has confirmed that it met with the group of unions representing workers at P... |
Ultratech 4Q net profit drops, India29 April 2010, Published under Cement NewsUltraTech Cement, an Aditya Birla group company, has reported a 26 per cent drop in net profit at Rs 229 crore (Rs 309 crore) in the fourth quarter ended March 31. This is largely due to lower sales realisation in the southern region where it has a major presence. Revenues increased marginally by 3 per cent to Rs 1,909 crore (Rs 1,860 crore). The company produced five million tonnes (4.6 mt) in the quarter under review. It has announced a dividend of Rs 6 a share resulting in an outgo of R... |
Philippines: cement makers oppose incentives for clinker28 April 2010, Published under Cement NewsExtending incentives to clinker-based projects or to investments in cement grinding mills will negate the forward and backward integration that has been making the local cement industry a strong and consistent contributor to the national coffers, according to the Cement Manufacturers Association of the Philippines (CeMAP). According to a report in local newspaper, the Philippine Star, the association has argued that new investors looking to set up grinding mills will only make the local cem... |
Cemex in talks for Penna stake, India28 April 2010, Published under Cement NewsCemex is in talks to buy a stake in south India-based Penna Cement, the Times of India reported on Wednesday. The company has reportedly initiated dialogue with the Hyderabad-based Penna, the newspaper said, quoting unnamed sources. “We are looking for a strategic partner and are in early stages of discussions with a few people,” Penna Cement chairman P Prathap Reddy told the newspaper, but refused to comment directly on talks with Cemex. Penna operates three plants in Andhra Pradesh state... |
China: Anhui Conch reports rise in 1Q profit28 April 2010, Published under Cement NewsAnhui Conch, China’s largest cement producer by output, said Tuesday its first quarter 2010 profit rose 94% from a year earlier due to higher product prices. The company said in a statement its net profit for the three months ended March 31 was CNY792.3m (US$116m), up from CNY408.94m a year earlier, according to Chinese accounting standards. Revenue rose 18 per cent to CNY6.07bn from CNY5.15bn a year earlier. In March, Conch said its 2009 net profit rose 34 per cent due to increased sales... |
Holcim Indonesia to construct new plant28 April 2010, Published under Cement NewsPT Holcim Indonesia plans to invest US$400-500m in a new plant in Tuban, East Java, Reuters quoted a company director as saying on Tuesday. The expansion, which will add 1.6Mta of capacity, is subject to controlling shareholder approval from the Swiss-based Holcim Group, said Jannus Hutapea, Holcim Indonesia’s legal and corporate affairs director. “We already secured the area in Tuban for the factory,” said Mr Hutapea. “If we start the construction this year, it may take about 2.5 years fo... |
UltraTech plans to acquire 51% in Dubai-based producer28 April 2010, Published under Cement NewsThe Aditya Birla Group of India is set to acquire a 51 per cent stake in Dubai-based Star Cement LLC for an undisclosed sum, sources close to the move have said. Local press reported that the Indian conglomerate is set to acquire majority control of the Dubai-based company through its UltraTech Cement division, citing two unnamed people familiar with the development. The group is awaiting approval for the merger. The two companies have reportedly entered into an agreement for the deal on ... |
Court go-ahead for Nirma cement plant in Gujarat27 April 2010, Published under Cement NewsThe Gujarat High Court Monday gave conditional go-ahead to Nirma Limited, for the construction of a cement plant at Mahua, near Bhavnaga, which has been opposed by farmers citing environmental concerns. A division bench of chief justice S.J. Mukhopadhaya and Justice Akil Kureshi directed Nirma to return another 46ha or land, which constitutes as a water body, to the state government. The company has already returned 45ha out of 100ha of the disputed land. |
Supreme Court refuses Lafarge approval for mining, Bangladesh27 April 2010, Published under Cement NewsIn a major blow to Lafarge’s operations in Bangladesh, the Supreme Court refused to endorse the environmental clearance given by the ministry of environment and forests (MoEF) to the company to mine limestone in Meghalaya. The court said approval for resuming mining operations can only be given to the company after “proper study (of environmental impact) by specialised agencies”. On February 5, the apex court had restrained Lafarge from continuing mining operations for extracting limestone ... |
Kenya producers forecasts strong 2010 demand27 April 2010, Published under Cement NewsCement demand in Kenya is expected to remain strong throughout this year as a result of infrastructure projects and home building currently underway in the country, industry players say. Athi River Mining’s deputy managing director Surendra Bhatia said the cement market in this quarter continues to be strong and has maintained its growth trend. “In terms of ARM cement business – as compared with the same period last year – the trend has been positive. The cement market continues to grow and... |