Cement News tagged under: international
Holcim selling shareholdings in Panama and Caribbean31 July 2009, Published under Cement NewsIn connection with the nationalization in Venezuela, Holcim announced it is selling shareholdings in Panama and the Caribbean to joint venture partner Argos, Holcim announced in a statement. As a consequence of the nationalization of Holcim Venezuela, the long-term economics of supplying Holcim produced clinker and cement to the grinding stations and terminals in Panama and the Caribbean is no longer viable. , the company said. For this reason, effective July 30, 2009, Holcim is selling ... |
Strong Middle East results from Lafarge contrast weak Europe31 July 2009, Published under Cement NewsLafarge saw its first half turnover fall by 11.9% to €7,991m, with the EBITDA declining by 19.7% to €1,700m and the trading profit dropping by 29.8% to €1,131m. The net attributable profit showed a 59.4% reduction to €370m. Net debt at the end of June was down by 11.2% to €15,388m, with the gearing having come down from 124.6% a year ago to 97.0%. Capital expenditure was down by 19.6% to €817m, with all of the reduction taking place in maintenance expenditure, which was cut by 61.8%, whil... |
JSW to invest in cement plants, India30 July 2009, Published under Cement NewsJSW Cement, part of the OP Jindal Group, plans to set up a cement ventures near the group’s steel plants at Kurnool, Andhra Pradesh, and Vijayanagar, Karnataka, reports Business Line. The units will have a combined capacity of 5.5Mta. Mr Seshagiri Rao, Joint Managing Director and Group Chief Financial Officer, said of the project cost of INR1900 crore, JSW Cement, closely held by the promoters, would invest INR400 crore. “The company has already tied up debt for the remaining INR1500 cror... |
Israel to allow cement into Gaza for first time since war30 July 2009, Published under Cement NewsIsrael will allow a one-time transfer of cement into Gaza for the first time since its war in the Hamas-ruled enclave and amid a new US peace push in the region, officials said on Wednesday. Prime Minister Benjamin Netanyahu and Defence Minister Ehud Barak okayed the transfer of more than 310 tonnes of cement for rebuilding a flour mill, a sewage treatment facility and the British cemetery, one defence official said. The one-off consignment will also include some steel and is expected to b... |
Venezuela creates state cement conglomerate30 July 2009, Published under Cement NewsVenezuelan President Hugo Chavez ordered the creation of a state-run cement company on Wednesday, a year after seizing control of 90 per cent of the local industry in a wave of expropriations. The decree said the Corporacion Socialista de Cemento was being established with ten million bolivars (4.65 million dollars) capital "for the production, sale and marketing of cement and its derivatives." In August 2008, the Venezuelan government ordered the expropriation of Cemex’s local subsidiary,... |
Tanzania sees cement output capacity rising in 200930 July 2009, Published under Cement NewsTanzania’s cement production capacity will rise to 2.97Mt by the end of the year from 2.47Mt, thanks to the expansion of its three plants, the trade minister said on Wednesday. Mary Nagu said in a ministerial presentation that domestic consumption is expected to hit 2Mta, up from industry estimates of 1.5Mt last year. Analysts say they use cement consumption, among other indicators, as a measure of economic strength in many African countries where official data can be haphazard. Source: R... |
Nigeria’s Benue Cement Q2 net profit leaps30 July 2009, Published under Cement NewsNigeria’s Benue Cement Company saw net profit jump to NGN9.67bn (US$65m) from NGN1.14bn in its second quarter to June, the company said on Wednesday. Turnover at Benue Cement, a unit of local conglomerate Dangote Group, also grew to NGN19.59bn from NGN4.10bn in the same period a year ago, the company said in a filing to the Nigerian Stock Exchange. |
HeidelbergCement sells Israeli operations30 July 2009, Published under Cement NewsHeidelbergCement has agreed the sale of its concrete, aggregates and asphalt-based Israeli operations to Mashav Initiating & Development, which forms part of the domestic conglomerate IDB Group. The deal, which has yet to be finalised, is worth in the region of €120m. The business consists of 26 batching plants, three quarries and two asphalt plants and came to HeidelbergCement with Hanson, which in turn had acquired it when it bought Pioneer Concrete of Australia. The deal with IDB, ... |
New President for ERMCO30 July 2009, Published under Cement NewsERMCO, the European Ready-Mix Concrete Organization which gathers all the national concrete associations in Europe, has elected Andrea Bolondi to serve a three-year term as the new President. Mr. Bolondi is COO of UNICAL SpA - a Buzzi Unicem company, leader in the ready-mix concrete sector in Italy - and already serves as the Vice President of Atecap, the Italian Ready-Mix Concrete Association, and as Coordinator of the "Progetto Concrete". Founded in Munich in 1967 and now headquartered in... |
GCC reports second quarter 2009 results29 July 2009, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) of Mexico today announced consolidated results for the quarter ended June 30, 2009. Consolidated net sales rose 3.6% and 8.6% in the second quarter and first half of 2009, respectively, compared to the same periods of last year, driven by higher sales in the United States and Bolivia. In addition, free cash flow was 225.7% greater than in the second quarter of 2008. Sales in Bolivia rose 76.0% in the second quarter of 2009 compared to the same quarter of l... |