Cement News tagged under: international
Union leader slams cement import waiver18 March 2010, Published under Cement NewsNational Workers Union (NWU) President Vincent Morrison has knocked the Government for allowing the importation of 60,000t of cement, saying it is providing unfair competition to Caribbean Cement Company (CCC) and undermining tax revenue. "We believe that the policy of the Government of Jamaica to allow waivers to import cement at this time is flawed and counterproductive to what is really needed to stimulate the local economy," Morrison said in a letter Monday to Commerce Minister Karl Sam... |
HeidelbergCement full year down 91%18 March 2010, Published under Cement NewsHeidelbergCement reported on Thursday its 2009 net profit dropped 91% to EUR168bn from EUR1.92bn in 2008. Profit was hurt by a one-time charge of around EUR90m, incurred in connection with refinancing measures, restructuring costs, and non-cash goodwill impairment and depreciation on production facilities that resulted from low capacity utilisation, the German firm said. Full-year turnover fell 22% to EUR11.12bn. "The group anticipates worldwide growth in cement, aggregates, and ready-mi... |
Gresik to invest in two new plants, Indonesia18 March 2010, Published under Cement NewsIndonesia’s PT Semen Gresik said it will invest around US$765m to build two new cement factories and a power plant in the next two years. Corporate secretary Sunardi Prionomurti said the two cement factories with a combined cost of around US$630m, will be built in Java and Sulawesi. Sunardi said the management of the state cement maker may also need fund to acquired PT Kertas Kraft, a producer of kraft paper used for cement sacks in Aceh. Aceh Governor Irwandy Darussalam said Semen Gresik... |
Dalmia to split units into four parts18 March 2010, Published under Cement NewsDalmia Cement (Bharat) Ltd will split its business into four units, the Economic Times newspaper reported Thursday, citing a source. Business will be split into cement, power, sugar and refractory units, the report said without elaborating. The company’s board is due to meet later in the day to finalize the restructuring. |
Rain Commodities hives off cement business18 March 2010, Published under Cement NewsIndia-based Rain Commodities which produces cement, calcined petcoke and power, on Wednesday said it will hive off its cement operations to another subsidiary. The company’s board has approved "hiving off the cement operations to a wholly-owned subsidiary to enable possible induction of join venture partners in the future and to pursue value-accretive acquisitions," Rain Commodities said in a filing to the Bombay Stock Exchange. |
Holcim Romania sees 33 per cent turnover drop in 200918 March 2010, Published under Cement NewsHolcim Romania registered a turnover of EUR250m in 2009, down by 33 per cent against 2008, due to the economic crisis effects, general manger Holcim Romania Markus Wirth said on Wednesday. The company posted a 33 per cent drop in turnover in 2009, from EUR372m in 2008 to EUR250m in 2009, while the operating profit dropped by 29 per cent, from EUR76m in 2008 to EUR54m in 2009. The company made investments of EUR40m in 2009 compared to EUR133m in 2008, of which EUR32m was targeted to expans... |
DG Khan Cement to invest in Nishat Mills18 March 2010, Published under Cement NewsDG Khan Cement Company of Pakistan, has convened an extra-ordinary general meeting of shareholders on April 19, 2010 to get approval for an investment of PKR376.007m in the equity of Nishat Mills Ltd (a textile manufacturing company) by way of subscribing ordinary right share at premium. According to a statement sent to KSE, Nishat Mills has announced 45 per cent right share at PKR40 per share inclusive of premium of PKR30 per share for its existing shareholders. Having a shareholding of... |
JPMorgan invests US$13m into Guizhou producer17 March 2010, Published under Cement NewsJPMorgan Asset Management has invested about 15% of its US$860m Asian infrastructure fund to establish a joint venture cement manufacturer in the southwestern province of Guizhou. Established by JPM in 2007, Hong Kong-based Scitus Cement (China) Holdings Limited invested in building a number of dry-process lines in Guizhou, Sichuan and other places. The planned total investment value amounted to over RMB4bn before the end of 2009, reaching the targeted cement production capacity of over 10 ... |
Iran production up 17%17 March 2010, Published under Cement NewsIran produced over 47.44Mt of cement in the first 11 months of the current Iranian calendar year (beginning March 20, 2009). This translates into a 17 per cent increase to the same period in the previous year. Some 62.84Mt of clinker were also produced, 15 per cent more than the year before. |
Jaiprakash expects 40 per cent growth, India17 March 2010, Published under Cement NewsJaiprakash Associates expects its cement business to grow by about 40 per cent in 2010/11, Executive Chairman Manoj Gaur told news channel CNBC-TV18 on Wednesday. The engineering and construction firm, which also has interests in hospitality and power, has substantially raised capacity in 2009/10 and currently can produce 17.1Mta of cement. It had reported cement shipments in February jumped 61 per cent from a year earlier to 1.16Mt. |