Cement News tagged under: international
Holcim Philippines may hike prices08 December 2009, Published under Cement NewsLocal manufacturer Holcim Philippines Inc may hike prices of its products owing to higher costs of coal, oil and electricity. Ian Thackwray, Holcim chief operating officer, said that because oil, costs and electricity make up 60 percent of the company’s expenses, the company may have to adjust the prices of its cement. “There are continuous small price adjustments. It may be necessary to hike prices because of...increase of input cost. In Asia, the most expensive electricity is in the Phil... |
Votorantim, Camargo Correa mull Cimpor investment08 December 2009, Published under Cement NewsVotorantim and Camargo Correa are interested in investing in Cimpor, weekly newspaper Expresso said, without saying where it got the information. Investment bankers representing the Brazilian companies met with leading Cimpor shareholders last week to determine if they’re willing to sell shares in the Portuguese cement company, Expresso said in its Dec. 5 edition. Votorantim and Camargo Correa would invest independently of one another, the newspaper said. Expresso said an unidentified Voto... |
Heidelberg Cement attracts investors’ attention08 December 2009, Published under Cement NewsHeidelberg Cement is gaining investor fancy of late. As per the buzz, the company is looking to acquire some cement capacities in Central India given the ‘cheap valuations’ based on EV/TONNE method. It has gained close to 18% in the past one month. The stock closed at Rs 43, almost flat from the previous close. According to market talk, some savvy investors have been active in the counter on expectations of some developments. When contacted, a senior company official said, “We do not comme... |
Thermal power plants must set up flyash based cement units07 December 2009, Published under Cement NewsAccording to Mr George Mathew chairman of Grouppe Utilitie Private Ltd based at Chennai, all generating thermal power will be well advised to set up downstream cement units to dispose of fly ash which is proving to be a major ecological hazard. In an interview Mr Mathew said that Grouppe Utilitie had in the first week of November signed an agreement with a Chinese consortium of Chongquing Gear Box Co Ltd and Hefei an international cement machinery manufacturer to set up cement plants in In... |
Tanga to postpone expansion on imports07 December 2009, Published under Cement NewsThe Tanga Cement Company has put its planned multi-million expansion on hold, depriving the regional economy of the multiplier effects of an injection of $200 million. This follows an influx of subsidised, imported cement, owing to the removal of 35 per cent import duties under the East African Community’s Customs Union (See The EastAfrican, Page 31, November 30 - December 6). Juerg Fluehmann, managing director of Tanga Cement, said they decided to put off the $200 million investment in ... |
Cemex to appeal tax consolidation law07 December 2009, Published under Cement NewsCemex will appeal a new tax consolidation law that will further damage the company’s profits, Mexico City-based financial group IXE analyst Patricio Rivera told BNamericas. The new law, which will take effect in 2010, means that all deferred taxes attributed to fiscal consolidation will have to be paid within a five-year period. Under the existing law, companies can indefinitely consolidate losses, and taxes generated by those losses. "It’s likely that the firm will appeal against thes... |
China to rein in cement overcapacity in 12th Five-Year Plan07 December 2009, Published under Cement NewsIn an effort to curb the cement industry’s production overcapacity, the China Cement Association has changed its development policy for the cement industry. Accordingly, the association will step away from the 11th Five-Year Plan (2006-2010)’s vigorous development of new dry process cement production technology towards appropriate development in the 12th Five-Year Plan (2011-2015). According to statistics released by the Ministry of Industry and Information Technology, China’s cement out... |
Conflict in Jurong Cement board, Singapore07 December 2009, Published under Cement NewsIt was not just a matter of wanting to trim costs when Jurong Cement Limited (JCL) announced last month that five directors would resign to cut expenses. Following a query from the Singapore Exchange (SGX) on how much cost has been saved, JCL yesterday surprised with a clarification that there had in fact also been an ’ongoing conflict of interest’ issue relating to certain directors and ’irreconcilable differences’ between two controlling shareholders. These arose because JCL’s two cont... |
Saudi Tabuk Cement 9-month net profit down to US$25.5m07 December 2009, Published under Cement NewsSaudi cement producer Tabuk Cement Company (TCC) registered a decline in its net profit for the first nine months of 2009 to SAR 95.6m (US$25.5m) from SAR 142.3m a year ago. The decrease was chiefly due to a decline in average sales prices during the nine-month period, TCC said without giving exact figures. The earnings per share (EPS) stood at SAR 1.06, down from SAR 1.58. For the third quarter of 2009, the company’s net profit rose to SAR 24.2 million, up 45% year-on-year. |
County brings lawsuit against Holcim07 December 2009, Published under Cement NewsSte. Genevieve County is bringing a lawsuit against Holcim(US) Inc. for contract issues involving the Chapter 100 Agreement. The agreement was signed when a tax abatement was given to Holcim. The county claims Holcim has not lived up to the contract it has signed, including the issuance of a certificate of completion for the Ste. Genevieve cement plant project. The Ste. Genevieve County Commission reviewed a letter on Nov. 16 from Dennis Hoffman, regional counsel for Holcim(US) Inc., that ... |