Cement News tagged under: international
Portugal Regulator OKs CSN Bid Sweetener For Cimpor18 February 2010, Published under Cement NewsPortugal’s stock market regulator, the CMVM, said Tuesday it has authorised the sweetened bid by Brazilian steel major Companhia Siderurgica Nacional (SID) for Cimpor. CSN Friday raised its takeover bid for all of Cimpor 7.5% to EUR6.18 for each Cimpor share, valuing the Portuguese cement maker at EUR4.15bn. The revised bid is conditional on approval from the regulator and on CSN securing at least one-third of Cimpor’s shares. Cimpor shareholders have until Feb. 22 to accept the revised of... |
Cement output down 12.3% in Spain18 February 2010, Published under Cement NewsCement output in Spain totalled 1.62Mt in January 2010, down 12.3% in annual terms, the Spanish cement makers association Oficemen said today. Cement consumption in Spain plunged by 15.6% YoY to 1.57Mt in January mostly due to the construction sector crisis. The adverse weather conditions during the month also affected the consumption, Oficemen said. By comparison, the consumption crash was of 52% in January 2009. The clinker output suffered a 19.5% decrease in January 2010. Despite the c... |
Adelaide Brighton forecasts profit drop in 201018 February 2010, Published under Cement NewsAdelaide Brighton Ltd has forecast a drop in net profit in calendar 2010 on softer demand for concrete after managing slight profit growth last year. The cement and lime supplier expects demand for cement to fall by about five per cent this year due to continued weakness in the commercial construction sector. Although residential construction appears to be recovering, higher interest rates and the winding back of the first home owners grant may dampen activity, Adelaide Brighton managing d... |
YTL gets higher price for Jurong Cement stake18 February 2010, Published under Cement NewsThere has been a battle for control of Singapore-listed Jurong Cement Ltd (JCL) but in the end, YTL Cement Bhd managed to squeeze a higher price for its stake in the loss-making cement manufacturer. “YTL Cement’s move to accept Holcim Singapore’s offer confirmed our argument that its earlier move (by YTL Cement) to counter offer was just to extract a better offer from Holcim Singapore,’’ RHB Research Institute said in a report yesterday. YTL Cement told Bursa Malaysia last Friday that it h... |
Cimpor says CSN’s new offer still too low18 February 2010, Published under Cement NewsThe board of Portuguese cement producer Cimpor (CPR.LS) said on Wednesday a modified offer by Brazilian steelmaker CSN (CSNA3.SA)(SID.N) to buy at least a third of Cimpor at 6.18 euros a share did not reflect the company’s fair value. The board said it recommended to shareholders not to sell their shares in Cimpor, which is the target of stake purchases by two other Brazilian companies. Cimpor shares had closed 1.4 percent lower at 5.80 euros in Lisbon on Wednesday before the board stateme... |
Gujarat mining policy to boost cement production18 February 2010, Published under Cement NewsThe Government of Gujarat has decided to put its mining policy on the fast track, and this will boost the plans of eight cement companies that plan to add 22Mt of capacity. The companies include Reliance Cement, Ambuja Cement, Dalmia Cement, Binani Cement, JK Lakshmi and Shree Cement. Most issues regarding mining leases have been resolved and cement companies will now have to bid for limestone blocks to be put up for auction by Gujarat Mineral Development Corporation. |
Chettinad Cement plans pan-Indian presence18 February 2010, Published under Cement NewsChettinad Cement Corporation Ltd, which expects to grow its annual cement production capacity to 10Mt in Tamil Nadu by next year, has decided to double this capacity through its expansion in Karnataka. By the end of this decade Chettinad Cement aims to have a pan-India presence with units in Rajasthan, Himachal Pradesh and Chattisgarh. Addressing reporters at its Puliyur factory, about 35km from here, Mr C. Sudhakar, President, Chettinad Cement, said the company has over 8.2Mt production c... |
UAE firms urged not to hike cement price17 February 2010, Published under Cement NewsThe UAE Contractors’ Association has called on cement producers in the country to withdraw their decision of increasing the minimum price of loose cement to Dh220 per tonne. "We are against any increase in cement prices at present," Ahmed Al Mazroui, Vice-Chairman of the UAE Contractors’ Association, told Emirates Business. "This increase is useless and local factories will not succeed in implementing it." He added that any increase in the prices of locally produced cement will lead to an ... |
Jaypee to invest in Himachal cement plant17 February 2010, Published under Cement NewsCement and infrastructure firm Jaypee Group will invest Rs 1,250 crore on raising the cement grinding capacity of its plant in Himachal Pradesh, in line with its plans to become the third-largest cement producer in the country by 2012. "We will invest Rs 1,250 crore on enhancing our cement grinding capacity at our Solan plant (HP) and we hope it will take another two years to complete the project," Jaiprakash Associates, flagship company of Jaypee Group, Chief Financial Officer Rahul Kumar ... |
The Philippines: IPP draft eases rules for ‘strategic’ firms16 February 2010, Published under Cement NewsThe Government’s proposed framework for the 2010 list of business activities eligible for tax perks will ease the requirement for firms seeking to be qualified as "strategic." The policy shift should help the Philippines take advantage of firms’ investment decisions amid the recovery of the global economy, according to a draft released for public hearing yesterday at the Board of Investments (BoI). New entries in the 2010 Investment Priority Plan (IPP) also seek to encourage activities tha... |