Cement News tagged under: international
Vietnam produces estimated 36.31Mt in Jan-Oct30 October 2009, Published under Cement NewsVietnam’s cement production output is estimated at 36.31Mt in the first 10 months of this year, including 3.55Mt in October. The country is forecast to have used 35.82Mt of cement during the period, the Thoi Bao Kinh Te newspaper reported Thursday, citing the Ministry of Construction. In October, the country’s total cement consumption rose slightly to 3.51Mt, said the ministry without giving exact comparison. The ministry estimates Vietnam will use between 3.8Mt and 4Mt of cement in Novem... |
CRH considers €676m sale of US distribution unit30 October 2009, Published under Cement NewsCRH could be considering the sale of a US unit for as much as $1bn (€676m), reports said yesterday. The Irish Independent reported that CRH is considering the sale of Allied Building Products which accounts for about seven per cent of group sales, according to Mergermarket.com which tracks mergers and acquisitions. The New Jersey-based distribution business had earnings before interest and taxes last year of $55m on sales of $1.8bn. Such a sale could raise between €730m and €1.1bn for... |
Holcim Indonesia to invest in East Java factory30 October 2009, Published under Cement NewsIndonesia’s third largest cement producer PT Holcim Indonesia said it would build a new factory at a cost of US$500m in Tuban, East Java. Eamon Ginley, the president of the Indonesian units of Holcim Ltd, said construction is expected to start in April and it is to be completed in a year. Ginley said the new factory is needed to meet growing demand expected in the coming years. Another executive of the company Rusli Setiawan predicted Indonesia’s cement consumption will grow 7 per cent-10... |
UAE declining profits30 October 2009, Published under Cement NewsCement firms in the region and especially in the UAE will continue to announce below par results until the end of 2010, senior industry officials said yesterday. Cemex yesterday said sales figures fell in most markets, including the Middle East, bringing down its third-quarter net income for a sixth straight quarter. On Tuesday UAE-based Union Cement announced that its third-quarter profit plummeted 69 per cent as sales halved. A senior official of a RAK-based cement firm told Emirates Bu... |
Pakistan’s Lucky Cement profit rises on higher sales30 October 2009, Published under Cement NewsLucky Cement Ltd., Pakistan’s biggest producer of the building material, said first quarter profit rose 14.5 per cent, aided by higher sales and lower costs. Net income rose to PKR1.1bn (US$13.2m), or 3.41 rupees a share, in the three months ended September 30 from PKR962.9m, or 2.98 rupees, a year earlier, the Karachi-based cement maker said today in a statement to the stock exchange. Sales rose 2.6 per cent to PKR7.04bn. “The lower prices in local and international markets capped the inc... |
CRH builds up its cash pile but for what purpose?30 October 2009, Published under Cement NewsCRH could be considering the sale of a US unit, Allied Building Products for as much as $1bn (€676m). Allied accounts for about seven per cent of group sales. The New Jersey-based distribution business had earnings before interest and taxes last year of US$55m on sales of $1.8bn. Such a sale could raise between €730m and €1.1bn for CRH, Goodbody Stockbroker analyst Robert Eason said in a note yesterday. "Overall, such a deal could make sense providing CRH gets a price that reflects mid-cycle... |
HeidelbergCement India 3Q net profit up, expansion projects29 October 2009, Published under Cement NewsHeidelbergCement India Thursday reported a more than two-fold surge in third quarter net profit on higher sales. Net profit for the July-September quarter rose to INR270.5m from INR100.5m a year earlier, the cement maker said in a note to the Bombay Stock Exchange. Net sales of the company, formerly known as Mysore Cements Ltd., soared 75% to INR2.08 billion from INR1.19 billion. HeidelbergCement India also announced it will increase cement production capacity from existing from 1.8Mta t... |
India Cement net up two per cent29 October 2009, Published under Cement NewsCement manufacturer India Cement Wednesday said its net profit for the quarter ended September 30 rose two per cent to Rs.136.94 crore from Rs.134.27 crore it logged in the like quarter last year. Total income of the company has increased 6.56 percent to Rs.994.92 crore in the quarter under review from Rs.929.64 crore a year earlier. Earnings per share stood at Rs.4.86 per share in the quarter, up from Rs.4.77 per share in the year-ago period. |
US housing data spooks the market29 October 2009, Published under Cement NewsUS stocks tumbled in a broad sell-off on Wednesday, sending the benchmark S&P 500 lower for a fourth straight day, after weak data on new home sales heightened concerns about the pace of the economic recovery. "The housing data definitely created an additional leg down in the market," said Mike O’Rourke, chief market strategist at institutional brokerage firm BTIG in New York. "A lot of people realize that we’re correcting right now and are being cautious." Among home builders, Beazer Homes... |
Peru’s construction, real-estate boom still strong28 October 2009, Published under Cement NewsInvestors are continuing to fuel Peru’s already fast- growing construction and real estate sectors, propelled in good part by political stability and rising levels of public spending for the better part of the last decade. The construction sector has taken off alongside a strong expansion in gross domestic product, which grew a red-hot 10% in 2008. Real estate sales have followed suit as demand for housing and office buildings continues to boom. Despite a weakening of growth this year, the... |