Cement News tagged under: international
Semen Gresik to invest US$10m in Papua, Indonesia23 December 2009, Published under Cement NewsPT Semen Gresik Group (SGG) is going to invest US$10m next year to develop a cement packaging plant in West Papua. The measure is taken as part of the state-owned cement company’s efforts to support its expansion plan to develop new cement in Papua with an investment value of US$341.6m. "The packaging plant is needed to cut the cost of cement distribution. In Papua, one sack of cement can sell for IDR800,000. Packaging plant plays a strategic role in the cement industry," told Minister of ... |
Cimpor to respond after CSN registers bid23 December 2009, Published under Cement NewsCimpor’s board plans to respond to the unsolicited takeover bid from Companhia Siderurgica Nacional SA only after CSN officially registers the offer with Portugal’s securities regulator, Jornal de Negocios said, without citing anyone. CSN has 20 days from the publication of its preliminary bid announcement to file for registration of the offer. It made the preliminary announcement on December 18. |
Tanga Cement wins finance award, Tanzania22 December 2009, Published under Cement NewsTanga Cement Company Limited emerged the overall winner of the best presented financial statement for 2008 at an award gala organised by the National Board of Accountants and Auditors (NBAA) held in Arusha recently. Speaking to journalists in Dar es Salaam today, Tanga Cement Ag. Managing Director, Jayne Nyimbo said the Award was a reflection that the company puts quality above the rest. "This is a great achievement and a true testimony that the cement company has gone an extra mile in qua... |
Indian prices may decline next quarter22 December 2009, Published under Cement NewsIndian cement prices are likely to fall early next quarter, especially in the weak southern market, as the Indian building commodity industry grapples with the near-term effects of additional capacity, said RP Gupta, chairman of mid-sized Shiva Cements told ET on Monday. "There will be pressure on selling prices due to large capacity addition...India’s (total) capacity could reach 270 million tonnes by (fiscal year) 2011," said Mr Gupta. The current total installed capacity of the Indian ce... |
IDB supports Loma Negra, Argentina22 December 2009, Published under Cement NewsArgentina’s leading cement producer, Loma Negra, will receive up to US$125m in medium-term financing from the Inter-American Development Bank (IDB) to support the company’s capital expenditure programme. Last year the IDB approved a US$100mA/B facility for Loma Negra, which is owned by the Brazilian conglomerate Camargo Correa. Due to a successful syndication and an oversubscription of the B loan, the financing was increased by US$25m, an IDB statement said. The transaction was structured ... |
Hanson and IDB sale cancelled, Israel22 December 2009, Published under Cement NewsAntitrust commissioner Ronit Kan will not approve the sale of building materials firm Hanson Israel to IDB group company Mashab, sources told TheMarker. Indications to this effect have been relayed in recent weeks to Mashab, which has begun exploring ways to get the NIS 450 million sale by Germany’s HeidelbergCement through the Antitrust Authority. Alternatives under consideration include acquiring only part of Hanson. The Antitrust Authority may have already rejected several options propos... |
Iraqi cement plant renovation22 December 2009, Published under Cement NewsJapanese trading house Marubeni Corp and Kawasaki Plant Systems Ltd., a subsidiary of Kawasaki Heavy Industries Ltd, agreed Sunday to participate in the renovation of a local cement plant affiliated with the Iraqi government. The two Japanese firms will offer technical assistance and supply parts to a local firm tasked with improving production at the cement plant in Kubaysah in western Iraq, which was built by Marubeni and Kawasaki Heavy in the 1980s. The concerned parties signed an agree... |
Camargo Correa: ‘Not preparing takeover bid for Cimpor’22 December 2009, Published under Cement NewsCamargo Correa said it isn’t preparing a takeover bid for Cimpor, adding that it’s “interested in studying opportunities.” Camargo Correa had informal talks with Cimpor shareholders about possible ways of working together with the Portuguese cement company, it said today in a filing with Portugal’s securities regulator. |
Rungta Mines plans Orissa plant, India21 December 2009, Published under Cement NewsIron ore mining firm Rungta Mines, the flagship company of SR Rungta group, has announced its plans to set up a 1Mt cement plant in the Indian state of Orissa. The company will invest around 600 crore in the setting up of the plant. Mr Siddharth Rungta president of privately held Rungta Mines said that "Cement project is currently in the evaluation stage and if finalised will be established in Orissa.” Rungta Mines plans to fund this project through a mix of debt and internal accruals. Thi... |
Russian cement production down 19.1%21 December 2009, Published under Cement NewsAccording to Russia’s State Statistics Service, Russia’s cement production amounted to 38.5Mt in Jan-Oct 2009, which is 19.1% less as compared to the same period 2008. |