Cement News tagged under: international
East African industry set for realignment22 March 2010, Published under Cement NewsThe East African cement market is set for major re-alignments as leading firms move to increase production capacity in coming months as new entrants roll out plants, paving way for a fierce price war. At least five cement manufacturers across the region — Kenya’s Athi River Mining, Tororo Cement (trading as Mombasa Cement in Kenya) and Hima (owned by Lafarge) in Uganda as well as Tanzania’s Tanga and Tanzania Portland Cement (producer of Twiga cement) — have already made their intentions o... |
GCC construction contracts up 11.4% in 200922 March 2010, Published under Cement NewsConstruction contracts awarded in the GCC increased a total of 11.4 per cent to reach US$142.4bn (Dh522.98bn) in 2009. Surprisingly, despite the gloom and doom scenario, Q4 2009 recorded the highest value of contract projects awarded in 2009, totalling US$61.6bn, a 63 per cent increase from Q3 2009. The months of December and July 2009 witnessed the largest single-months construction contracts awarded in terms of value (see table). Just December witnessed an immense $45.8bn of contracts wh... |
Lafarge denies violation of court order, Bangladesh22 March 2010, Published under Cement NewsLafarge Umiam Mining (LUM), has rubbished allegations of violating Supreme Court order on mining activities in Meghalaya. Shella Action Committee (SAC) was seeking justice from the apex court against Lafarge’s ’’violation of the Constitutional provision’’ against transfer over of tribal land in Meghalaya. The committee alleged that quarries operated by Lafarge would have long-term implications on the people of Meghalaya in having control over indigenous lands and using of sustainable res... |
Benin plans to import as power shortage curbs production22 March 2010, Published under Cement NewsBenin plans to import 18,000t of cement a month from neighbouring Togo after local production was curbed by power shortages, the government said. The West African nation, which consumes about 160MW of electricity, currently has a shortfall of as much as 60MW, Bertin Djahipo, technical adviser on electricity in Benin’s Power Ministry, said in an interview on March 17. Supplies from neighboring Nigeria have been reduced to 50MW from 75MW, while Benin no longer receives the 12.5MW it used to ... |
Monnet Cement in expansion drive, India22 March 2010, Published under Cement NewsMonnet Ispat & Energy (MIEL) will set up cement plants in Chhattisgarh and Gujarat with an investment of about Rs 2,400 crore, as it embarks on an expansion and diversification drive. Work on the two plants will begin in the October-December quarter under a new division of the company to be christened Monnet Cement, an industry executive familiar with the development said. The project is expected to become operational in three years, he said, requesting anonymity. The metals-to-energy con... |
Indonesia cement market outlook22 March 2010, Published under Cement NewsDomestic demand for cement may rise six per cent this year, said Christian Kartawijaya, finance director at PT Indocement Tunggal Prakarsa, the country’s second-largest cement company. The domestic sale of cement from January to May last year was “very low” because of the global recession, he said. “No wonder that the last two months the increases have been significant. We expect our sales target to exceed the market growth,” he said in Jakarta. Domestic cement sales last month rose 13.5 ... |
Shree Cement expects fourth quarter net drop19 March 2010, Published under Cement NewsIndia’s Shree Cement Ltd expects its fourth-quarter net profit to be 10%-15% lower than a year earlier because of higher fuel costs that hurt margins, its chairman said Friday. "Profits will be lower, because of all the cost increases that have not been passed on to the customer," HM Bangur, who is also its managing director, told Dow Jones Newswires over the phone. Shree Cement had posted a net profit of INR2.36bn in the fourth quarter of the last financial year ended March 31. |
China consolidates cement assets in 200919 March 2010, Published under Cement NewsChina consolidated cement assets whose combined production capacity reaches nearly 80Mt through mergers and acquisitions last year, according to the Ministry of Industry and Information Technology. Larger cement firms were created through business purchases, internal integration and overseas investment. In 2009, China National Materials Co Ltd acquired Gansu Qilianshan Cement Group Co Ltd to increase its control over the cement market in Northwest China. Tangshan Jidong Cement Co Ltd obta... |
Votorantim posts record profits in 200919 March 2010, Published under Cement NewsBrazil market-leader, Votorantim group posted record profits of BRL$4.6bn in 2009 compared to BRL$14.2m in 2008 having undergone a period or reorganisation, divesting in non-key assets and focusing in the core business. General manager Votorantim Industrial, Raul Calfat, says the 2010 results should be even better. Net income in 2009 decreased 18% to R$28.6bn, with cement, metals, pulp and paper and agribusiness accounting for 66% of it. Jose Roberto Erminio de Moraes president Votorantim ... |
Titan’s strong Egyptian performance19 March 2010, Published under Cement NewsTitan’s turnover declined by 13.8% last year to €1,360.6m, as the continued weakness in the United States and Greece was made worse by the deterioration in Bulgaria and elsewhere South Eastern Europe. The EBITDA held up fairly well and was off by just 13.2% to €329.8m. After a net financial charge that was 2.7% lower at €59.2m, the pre-tax profit fell by 24.7% to €158.1m. A return to a more normal tax rate left the net attributable profit 40.7% lower at €123.4m. Capital expenditure and... |