Cement News tagged under: international
KKS cement factory likely to begin operations, Sri Lanka19 April 2010, Published under Cement NewsThe KKS cement factory, which has been closed for the last 30 years, is likely to begin operations within the next few months, Jaffna commander Major General Mahinda Hathurusinghe said. He said preliminary steps have been completed under the directive of the pioneer Uthuru Vasanthaya program on the guidance of President Mahinda Rajapaksa and Defence Secretary Gotabhaya Rajapaksa to recommence the factory and that renovation work has commenced. “Production will start within the next few mon... |
Saudi Cement first quarter profit rises 16%19 April 2010, Published under Cement NewsSaudi Cement Co said first quarter profit rose 16.2 per cent as sales increased in the kingdom. Net income rose to SAR176.6m (US$47.1m) or 1.73 riyals/share, fromSAR152m or 1.49 riyals/share in the year earlier period, the company said in a statement on the Saude bourse. NCB Capital forecast Saudi Cement to achieve a profit of SAR178m. “The reason for the rise is the increase in sales volumes compared to the same quarter the previous year…and that is due to increased local demand during ... |
USGS preliminary results, February 201019 April 2010, Published under Cement NewsPreliminary figures from the US Geological Survey (USGS) for February 2010 show that domestic cement consumption remains weak, but lead indicators are promising future growth. Portland and blended cement sales in the United States stood at 3.4Mt in February, a fall of 26.1 per cent on 2009 sales and 48.7 per cent lower than the five-year average, according to the USGS figures. February sales also saw a 1.2 per cent monthly drop against January 2010 figures, reflecting the continued contrac... |
Holcim Philippines net incomes rises 138%19 April 2010, Published under Cement NewsHolcim Philippines posted a 138 per cent rise in net profit in 2009 as infrastructure spending, especially in Mindanao, boosted sales volumes to record levels. Net income reached PHP3.1bn (US$69.7m) compared to PHP1.3bn in the previous year, as sales grew 16 per cent, outpacing nationwide growth. Last week the Cement Manufacturers Association of the Philippines (Cemap) said the cement market grew 11 per cent in 2009, the highest growth posted since the Asian financial crisis in 1997. In a... |
Derba MIDROC factory will address shortages: Deputy PM19 April 2010, Published under Cement NewsEthiopia’s Deputy Prime Minister Addsiu Legesse has said the Derba MIDROC Cement Factory, currently under construction, would ultimately address the shortage of cement in the country. The 8000tpd cement plant is expected to commence production within 11 months. Senior government officials led by the Deputy PM on Saturday visited the ongoing construction of the factory. He said the local people would benefit from social-economic facilities constructed by the project. Addisu sa... |
Continental Cement to lay off 26 by month-end, USA16 April 2010, Published under Cement NewsFor the second consecutive year, Continental Cement will be laying of employees. J Scott Conroy, vice president of the company acknowledged Thursday morning that 26 employees at its operations will be laid off by the end of April. The layoff of 13 salary and 13 hourly employees will reduce the number of employees to just under 150. It is possible that the laid off workers could return. “It (layoff) is due to decreased demand for cement. As the demand for cement increases then we’ll conti... |
Shuangma Cement to buy cement assets from Lafarge16 April 2010, Published under Cement NewsSichuan Shuangma Cement Co Ltd announced Thursday that it has received approval from China’s National Development Reform Commission to issue 296 million shares to Lafarge China in exchange for a 50 per cent stake worth CNY2.26bn in Lafarge Dujiangyan Cement Co. On Sep. 12, 2008, the Shenzhen-listed firm announced that it would issue 400m shares for RMB 7.61 apiece to buy the same 50% stake, which was valued at CNY2.8bn. The purchaser on January 6, 2010 reduced its valuation to CNY2.35bn. ... |
China Resources boosts presence in southeastern China16 April 2010, Published under Cement NewsChina Resources Cement Holdings said on Thursday it has agreed to buy a cement production plant and a grinding unit in southeastern China for CNY830m (US$122m) to boost its presence in the region. The cement group will buy a cement plant in Longyan City, Fujian province, from San Teh (China), a unit of building materials maker San The. The facility has two clinker production lines with an output capacity of 1.4Mta and three cement grinding lines with a capacity of 2.4Mt. The company has a... |
Vicat set to buy Bharathi Cement16 April 2010, Published under Cement NewsFrench-based producer Vicat, is in advanced buyout discussions with Bharathi Cement of Hyderabad, according to local press reports. An investment banking source said a deal, to be priced around US$200/t, is likely to be sealed in the next few weeks. At Bharathi’s current capacity of 2.5Mt, the deal could cost US$500m. Bharathi’splant is at Nallalingayapalli village in Kadapa. The company has a long-term blueprint to set up 5Mt capacity. |
Lafarge Zambia sees rising demand16 April 2010, Published under Cement NewsLafarge Cement Zambia is anticipating seeing increased demand for cement during the second quarter of 2010. Demand declined from November 2009 when the rainy season reached its peak. And Lafarge Cement has recorded a 103 per cent pretax profit from K125bn in 2008 to K255bn in 2009 which was driven by higher volumes and the efficiencies from the Chilanga two plants. The company’s revenue also increased from ZMK430bn in 2008 to ZMK737bn in 2009 and its operating profit also increased to ZMK2... |