Cement News tagged under: international
Global Construction 2020 report released13 November 2009, Published under Cement NewsGlobal Construction Perspectives and Oxford Economics have in a conference call, announced the release of Global Construction 2020, a global forecast for the construction industry over the next decade. The project has been sponsored by Cemex, Holcim, Lafarge and Orascom Construction Industries and extensively investigates the current nature of the global construction sector as well as examining its future prospectives from global, regional and country level perspectives. The authors careful... |
PPC profit falls 25%, South Africa13 November 2009, Published under Cement NewsSouth African cement producer Pretoria Portland Cement (PPC) on Wednesday reported a 25 per cent drop in net profit for the 2009 financial year to R1.1bn. PPC had recorded a R1.5-billion net profit in the 2008 financial year, but warned, in October, that a finance charge related to a broad-based black economic empowerment deal would impact on its earnings. The group’s revenues increased by 8 percent to R6.8-billion in the year ended September 30, 2009, compared with R6,2-billion the year ... |
Lafarge-Shui On in US$600m spin-off of cement unit, China13 November 2009, Published under Cement NewsLafarge and Shui On Construction and Materials Ltd are set to spin off their cement joint venture, aiming to raise US$500m-$600m from a Hong Kong initial public offering in 2010, sources close to the matter said. The IPO will join a long line-up of listing candidates hoping to raise money from a revival in Asian stock markets. "The company plans to start preparation work in January, and expects to list in second to third quarter of 2010," one of the sources said. "Regarding our cement bus... |
Egyptian police, bedouin clash in Sinai over cement12 November 2009, Published under Cement NewsEgyptian police and Sinai bedouin tribesmen clashed on Wednesday after police seized cement they said was bound for Gaza via smuggling tunnels, and 11 police were injured, security sources said. The sources said dozens of bedouin pelted police with stones after authorities confiscated goods including 200t of cement in a raid on a storage facility near the Gaza-Egypt border. The bedouin, who say the confiscated goods were destined for the local market and not Gaza, later opened fire in the ... |
Capitol to sell coal ash to cement firms12 November 2009, Published under Cement NewsCoal ash generated from the plant to be operated by the Korean Power Corp.-Salcon Power Corp. (Kepco-SPC) in Naga City will be sold to cement factories to be used as additives, Capitol officials said yesterday. Provincial Legal Officer Marino Martinquilla said amendments approved by the Provincial Board last Nov. 9 to the coal ash facility agreement signed by the Capitol and the firm allowed for the sale of the coal ash to the cement factories. The amendments also stated that this arrangem... |
Cemex begins swap of up to US$951m in securities12 November 2009, Published under Cement NewsCemex offered on Wednesday to replace commercial paper with up to MXP12.5bn in convertible securities as part of its debt refinancing. Cemex convinced its creditors to refinance US$15bn in bank and bondholder debt until 2014, but has agreed to sell assets and raise capital via equity and bond issues. "The amount of the offer is for a minimum of MXP3bn and a maximum of MXP12.5bn," the company said in a statement to the Mexican stock exchange. The company said the offer would be from Novemb... |
Pakistan’s DG Khan plans expansion12 November 2009, Published under Cement NewsDG Khan Cement Ltd., Pakistan’s second-biggest producer, plans to invest PKR30bn (US$360m) to build a factory at home and in Sri Lanka, aiming to double capacity and tap demand in South Asia and East Africa. The company plans to invest as much as PKR10bn to build a 2Mt plant in Sri Lanka in partnership with the government, Chief Executive Officer Mian Raza Mansha said in an interview in Lahore today. Another 20 billion rupees will be spent to build a 3Mt factory at Hub near Karachi to incre... |
Taiheiyo Cement eyes 30% cut in domestic output12 November 2009, Published under Cement NewsTaiheiyo Cement Corp said Wednesday that it plans to reduce domestic production capacity 30% by the end of fiscal 2010 to cope in part with the slow rebound in private-sector demand for condominiums and other structures. With 12 domestic plants, including those of group firms and subcontractors, the cement maker has an industry-leading output capacity of 23.63Mt. But it is bracing for excess capacity of some 8Mt, or 30%, next fiscal year because of sluggish demand. Taiheiyo Cement could co... |
Pakistan urges export of cement via land route12 November 2009, Published under Cement NewsThe Lahore Chamber of Commerce and Industry (LCCI) has urged the Indian government to facilitate export of cement through land route. Pakistani exporters are facing multifarious problems due to limited railway interchanges, absence of parking facilities and modern security scanning equipment for consignments on the Indian side. The demand was raised by LCCI delegation in an exclusive meeting with Indian High Commissioner, Sharat Sabharwal on Wednesday. The LCCI delegation was of the view ... |
Indian prices fall on poor demand and oversupply12 November 2009, Published under Cement NewsThe fall in Indian cement prices, which started in August, is gaining momentum in southern India. Despite strategies to counter this, the two southern cement companies—Madras Cements Ltd (MCL) and India Cements Ltd (ICL)—will take a hit in revenue realizations and profitability during the next two quarters. Due to poor demand and oversupply, cement prices fell by nearly Rs15-23 per bag in the south in the last fortnight. Hyderabad has been the worst hit, where prices fell by 15%. According ... |