Cement News tagged under: international
Eagle Materials improves profit and balance sheet24 July 2009, Published under Cement NewsIn the first quarter of its financial year to 31st of March, Eagle Materials’ turnover dropped by 27.7% to US$127.9m, but the pre-tax profit jumped by 57.3% to US$17.2m, as a return to profit in the plasterboard operations and reduced interest payments more than made up for the reduction in profitability from cement, aggregates and concrete. The net interest charge dropped by 29.5% to US$5.6m as the net debt declined by 12.2% to US$421.9m and the gearing level came down from 123.4% to 96.6... |
Nexe group to make a bid for Cemex Croatian subsidiary24 July 2009, Published under Cement NewsCroatia-based Nexe Group has announced that it may make a bid for taking over some parts of Cemex Hungary subject to the fact that they are available for sale. The president of the group, Ivan Ergovic has expressed his interest in acquiring some of the cement factories in Hungary. Earlier this month, Strabag has staked its claim over Cemex’s Hungarian business - along with its operations in Austria, but later withdrew its offer. However, Cemex has still not acknowledged the withdrawal of ... |
Taiwan Cement mulls plant in Guangdong province, China24 July 2009, Published under Cement NewsTaiwan Cement Corporation, Taiwan’s largest cement producer, is evaluating setting up a cement plant in Shaoguan of Guangdong province, China, to further deploy in that lucrative market. The firm is expected to invest at least three billion renminbi to build the plant. A few days earlier, Taiwan Cement chairman Leslie Koo visited Shaoguan to study the feasibility of the plant construction. If the project is materialized, Taiwan Cement will aim for an annual production capacity of nine milli... |
ACC net up 85% on strong sales24 July 2009, Published under Cement NewsACC has posted a better-than-expected 85% rise in net profit in the June quarter on strong sales volumes, better price realisation and improved cost management. The company, controlled by the Swiss cement giant Holcim, has posted consolidated net profit of Rs 471 crore in the June quarter compared to Rs 255 crore in a year-ago period. The ACC board on Thursday announced interim dividend of Rs 10 per share. The ACC stock gained 5.80% to close at Rs 854.65 in a strong Mumbai market on Thursd... |
Cemex 2Q sales, profits seen down on economic weakness24 July 2009, Published under Cement NewsCemex probably had a difficult second quarter, with economic weakness in its major markets hurting sales and profits, according to Dow Jones Newswires Mexican results may be negatively affected by the Easter holiday, which came in April this year instead of March, and by an outbreak of influenza that interrupted economic activity at the beginning of May. Cemex is expected to report sales of $4.4 billion in the second quarter, down from $6.35 billion in the year-ago period, according to the... |
Will India’s cement production hold firm?24 July 2009, Published under Cement NewsIndia’s cement manufacture continues to climb with companies adding nearly 8Mta capacity in April 2009, taking total installed capacity to 219Mta. The industry is estimated to add 40-50Mt of capacity this fiscal year, a 21 per cent increase over the 212Mta installed capacity in 2008-09. Government ministers are hopeful that output could rise further to 236.16Mt in FY11 and touch 262.61Mt in FY12. The government has boosted cement consumption with various infrastructure projects, road netw... |
Binani Cement plans INR17bn of capex over three years23 July 2009, Published under Cement NewsIndia’s Binani Cement Ltd said Wednesday it plans INR17bn of capital expenditure over the next three years as it targets an annual production capacity of 15Mt by 2013. Binani Cement, which currently has a capacity of 8.75Mt, plans to invest INR8bn in a new plant in the western Indian state of Gujarat. "We are likely to start the work (on the plant) in October," managing director Vinod Juneja told reporters at a press conference. The cement manufacturer will also spend INR1bn in a ligni... |
Sri Lanka shares up, Lanka Cement draws interest23 July 2009, Published under Cement NewsSri Lankan shares ended firmer Wednesday, still riding the momentum generated by the government clinching a US$2.5bn International Monetary Fund loan, brokers said. The All Share Price Index rose 0.47 per cent (11.71 points) to end at 2,485.28 while the more liquid Milanka rose 0.89 per cent (24.55 points) to close at 2,773.63, according to provisional stock exchange figures. Turnover was INR658m. Srimal Liyanage, head of research at Lanka Securities, said investors were upbeat over the ... |
Holcim sues rivals in Azerbaijan23 July 2009, Published under Cement NewsHolcim, the leading cement producer in Azerbaijan (Garadagh Cement OJSC), has filed actions against small competitors. Garadagh Cement says that the Company applied to Baku Local Economic Court #2 with action against A .Emal Senaye Ltd. The subject of the suit is sale of output of AM Emal Senaye Ltd in Spesial cement bags produced by Garadagh Cement. This fact was revealed in the process of monitoring by the GC officials. Source: abc.az |
Kenya’s Athi River ventures into power production23 July 2009, Published under Cement NewsAthi River Mining, Kenya’s third-largest cement maker, intends to build a 29MW coal-fired power plant for about US$50m, managing director Pradeep Paunrana said on Wednesday. The company said it planned to import South African coal for the plant -- expected to be ready by December 2011. Some of the electricity will be used at its coastal plant, and the remaining 19MW offloaded to the Kenya Power & Lighting Company "The project is a clean coal-fired power plant. It will be set up next to o... |