Cement News tagged under: international
China Resources to increase output24 March 2010, Published under Cement NewsChina Resources Cement Holdings Ltd plans to spend a total of HK$7.2bn in the next two years to increase the its output of cement, clinker and concrete, said President Zhou Junqing. The Hong Kong-listed firm will increase its investment in eastern and western Guangdong Province to increase its market share from the current 11% to 25% within three years, Zhou added. The enterprise, which has 19 production lines for cement and 10 for clinker, is expected to produce 65Mt of cement, 50Mt of cl... |
Emirates Cement Fujairah facility inaugurated, UAE24 March 2010, Published under Cement NewsSheikh Mohammed Bin Hamad Al Sharqi, Crown Prince of Fujairah officially inaugurated the new state-of-the-art facility for Emirates Cement Company, a joint venture between Dubai Group - a member of Dubai Holding, Lafarge Building Material and the Government of Fujairah. Located in Fujairah, the plant has an annual production capacity of 3.2Mt. Antoine Duclaux, CEO, Emirates Cement Company, said: "This is truly a momentous occasion for us. The company aims to significantly contribute to t... |
Buzzi hit by weaker Russia, Ukrainian, US & Italian markets24 March 2010, Published under Cement NewsOn a turnover that declined by 24.1% last year to €2,671.8m, Buzzi Unicem’s EBITDA fell by 41.3% to €541.7m and the trading profit was down by 53.7% to €323.0m. After net interest charges 50.6% higher at €99.9m, the pre-tax profit dropped by 63.8% to €235.2m and the reduction at the net attributable level was 64.7% to €139.5m. Net debt at the end of 2009 was 14.1% higher at €1,209.3m, while shareholders’ funds were 0.3% ahead at €2,712.2m, giving a gearing of 44.6%. Volumes declined by 2... |
Cemex wins battle for land rights in Texas, USA24 March 2010, Published under Cement NewsIn December 2009 Cemex was challenged to defend its property rights in the state of Texas. This resulted in the company being forced to head to court to fight for its land-removal rights. According to details of the lawsuit, prosecutors attempted to fine Cemex for a payment of US$558m. Justifying the suit, officials declared that the company had failed to pay the state of Texas for the eradication and subsequent sale of various natural resources and materials found on Cemex’s property. Wit... |
Egypt to cut down on energy subsidies from July24 March 2010, Published under Cement NewsBy July and Egypt plans to cease energy subsidies to industries that are not energy intensive. The Egyptian government had annulled a plan to cut down the subsidies three years back following the global meltdown. Rachid Mohamed Rachid, minister, said, "With the start of the new fiscal year, the government will resume the policy it laid down three years ago to eliminate energy subsidies to factories." Egypt’s fiscal year starts July 1. “The second half of the current year will witness the ... |
SGX reprimands Jurong Cement, Singapore24 March 2010, Published under Cement NewsThe Singapore Exchange (SGX) has reprimanded Jurong Cement Limited (JCL) for breaches pertaining to announcements made on the resignation of its two directors in November last year. According to SGX, Jurong Cement made false and misleading statements when it said that the directors nominated by substantial shareholder YTL Cement quit due to cost-cutting measures. But information received by SGX showed that the directors did not receive any fees or monetary rewards from JCL. So "the YTL di... |
Indian majors to tap rural markets23 March 2010, Published under Cement NewsIndian cement makers see overcapacity looming large from the next fiscal and are trying to compensate by targeting the rural heartland, small towns and villages to increase their sales and protect their bottomlines. Majors such as UltraTech, HeidelbergCement, ACC, Ambuja and mid-level players, including Shree Cement and Binani, have aggressive plans as they focus on the relatively untapped rural market to be the next growth driver. Shree Cement, the largest cement maker of North India, has ... |
Dominican Republic cement investments23 March 2010, Published under Cement NewsExecutives of the Dominican Portland Cement Producers Association have said the flow investments in the cement industry has reached US$1bn – 32 per cent of the total direct foreign investment in 1993-2008 period. The country’s installed cement capacity is 6Mt, while demand in 2009 topped 2.8Mt, according to Carlos Jacks, Francesco Cardi and Julissa Báez, representatives of the Dominican Portland Cement Producers Association, interviewed by news source hoy.com.do. |
Dyckerhoff cautious outlook for 201023 March 2010, Published under Cement NewsDyckerhoff CEO Wolfgang Bauer has said that while the company believes the worst is over for the construction markets in which it operates, it is cautiously optimistic about developments in 2010. In a statement the company said it struggled with the effects of the economic crisis in 2009, which took its toll on every one of its regions. Markets like Russia and Ukraine, which not long ago were among its growth drivers, went into free fall. In Germany, too, and in the USA, there was a sharp ... |
HeidelbergCement signals may miss rating23 March 2010, Published under Cement NewsHeidelbergCement signalled it may miss this year’s goal of getting finances in line with an investment-grade credit rating, BusinessWeek reported. Operating profit of more than EUR3bn and a debt-to-earnings ratio of below 2.8 are “mid-cycle” targets, investor relations manager Ozan Kacar said by telephone. The cement maker said in a Jan. 20 presentation that those were targets for this year. “Whether we will be able to reach that this year, or 2011, or 2012 will depend on the global market... |