Cement News tagged under: international
India cement industry seeks removal of import duty on coal12 January 2010, Published under Cement NewsThe Indian cement industry has sought for abolition of import duty on coal. Apart from coal, the industry has also asked for similar cuts in duties in petcoke and gypsum. Currently, coal and petcoke attract an import duty of five per cent and top cement majors are dependent on imported fuel as indigenous coal is inadequately available. Industry opined that the cement is being imported without any duty where as the cement makers have to pay import duty on inputs. “This leads to anomaly in wh... |
Siam Cement: QoQ earnings drop expected in 4Q0912 January 2010, Published under Cement NewsA QoQ drop is anticipated in Siam Cement’s (SCC) 4Q09 net profit due to lower earnings on the petrochemical side and from seasonal factors. The delay in opening its new petrochem plant at Map Ta Phut following the court injunction would affect its earnings in 2010, but Buy rating is maintained as its earnings growth potential from 2011F remains intact. Forecast of a normalised profit of Bt5.6bn in 4Q09 implies a drop of 18.9% QoQ but a turnaround from the Bt3.5bn loss in 4Q08. The projected... |
Canada: construction industry’s uptrend is expected to continue12 January 2010, Published under Cement NewsCanada’s construction industry has been gaining jobs since August and the uptrend will continue as more infrastructure projects kick in, renovation and maintenance markets strengthen, and housing improves, the Construction Sector Council said yesterday in Ottawa. "Construction didn’t take the recessionary hit that some other industries took and it’s well positioned to lead the way out of the downturn," said the council’s executive director, George Gritziotis. "Government infrastructure pro... |
Nepal factories face clinker shortage11 January 2010, Published under Cement NewsNepal’s cement factories have been facing a shortage of clinker after Indian Railways imposed a quota on its import through Raxaul station. Indian Railways has permitted import of 12 racks of clinker per month through Raxaul from last month. A rack holds 3500-4000t of clinker. The factories that are dependent on clinker imported through Raxaul consume around 58,000t of clinker a month, but they are getting only 42,000t in a month. There are 10 clinker-based cement factories in Parsa and B... |
DTI ready to sue cement makers, Philippines11 January 2010, Published under Cement NewsThe Department of Trade and Industry (DTI) could take the cement industry players to court for profiteering as prices of cement have reached to as much as P270 per 40kg bag from only P205 before December last year. According to DTI Undersecretary Zenaida C. Maglaya, there is planned price control on the commodity. In this planned court case, the DTI would be acting as complainant on behalf of the consumers. Should the DTI make its threat good, this would be the first time that it would pr... |
Cement demand picks up in Andhra Pradesh11 January 2010, Published under Cement NewsDefying logistics problems and other disruptions due to the month-long agitation for a separate Telangana state, the cement dispatches in Andhra Pradesh have shown good growth. “Except for a few companies, which had limitations due to logistics problems, the industry witnessed good growth in demand,’’ Mr Srikant Reddy, Executive Director, Sagar Cements Ltd, told Business Line. While the difference between the inventories and actual deliveries was yet to be ascertained, there were huge disp... |
Ecuador: Government creates Cementera del Ecuador11 January 2010, Published under Cement NewsPresident Rafael Correa signed the creation of Empresa Publica Cementera del Ecuador, to be based at Riobamba, Chimborazo province, and building up from the cement assets of Cementos Chimborazo. The new state run company would be the government arm in the industry. |
Cemex Croatia planning new investments11 January 2010, Published under Cement NewsCemex Croatia is planning new investments in 2010. In an interview in the daily Slobodna Dalmacija, Cemex Croatia head Trpimir Renic did not deny that 2009 had been a tough year because many infrastructure projects had been stopped, orders from abroad been cut and the country been faced with more insolvencies than ever. He said the biggest problem had been that cement imports had increased. He said: "It is unacceptable that our domestic cement is less competitive than imported cement, whi... |
Lucky Cement signs MoU with UK firm08 January 2010, Published under Cement NewsLucky Cement Limited has signed memorandum of understanding (MoU) with M/S Oracle Coal Fields PLC for the supply of indigenous coal for its cement plants. The coal will be mined by Sindh Carbon Energy Limited, a subsidiary company of Oracle Coal Field, who has been granted exploration license by the Director General Mines & Minerals Department, Government of Sindh at Block-4, Thar Coal Field, District Tharparkar, Sindh. It may be mentioned here that due to the surge in oil and gas prices mo... |
Texas Industries second quarter results08 January 2010, Published under Cement NewsTexas Industries, Inc today reported financial results for the quarter ended November 30, 2009. Net income was a loss of US$3.7m and included after tax gains from sales of emission credits of US$2.1m. Net income for the quarter ended November 30, 2008 was $3.1 million ($.11 per share). "We were able to maintain our gross profit margin compared to last year despite sales being down 36%," stated Mel Brekhus, President and Chief Executive Officer. "Abnormally inclement weather in our Texas mar... |