Cement News tagged under: international
Nigerian Lafarge unit eyes growth, cost cuts11 June 2009, Published under Cement NewsAshaka Cement Plc , a Nigerian unit of Lafarge, plans to expand output capacity while cutting costs as it fights to regain market share from new entrants. Ashaka, from the northeast of Africa’s biggest oil producer, said it aimed to extend capacity at its base in Gombe State to 1Mta from 850,000t within two years, and was considering adding further lines. "Nigeria in terms of per capita cement consumption is still quite low. The market is about ... 14-15 million tonnes, but even if you put... |
Southern African sales down 13.2 per cent10 June 2009, Published under Cement NewsMonthly and daily sales industry sales in the Southern African Union for May 2009 were down 13.2% YoY. Demand in Limpopo province showed growth while the Western Cape and Gauteng provinces displayed the biggest declines for May. The construction sector is continuing to benefit from current and new infrastructure projects with demand for May 2009 up 11% year on year, but this is being out weighed by declines in the other sectors including a 25% decline in sales to blenders. Industry im... |
HeidelbergCement cuts Indocement stake10 June 2009, Published under Cement NewsHeidelbergCement has raised about US$310m after cutting its stake in Indonesia’s PT Indocement Tunggal Prakarsa to around 51 per cent to reduce debt, two sources with knowledge of the deal told Reuters. HeidelbergCement sold 520.5 million shares at 6,000 rupiah a share to institutional investors, the sources said, a discount of 12 percent from Tuesday’s closing price of 6,850 rupiah a share. Shares of Indocement opened 2.2 percent lower in Jakarta following news of the stake sale, which cu... |
Cement manufacturers fail to comply with CFC order, Mexico09 June 2009, Published under Cement NewsCemex, Holcim Apasco, Cruz Azul and Corporación Moctezuma have failed to fulfill an order from the anti-trust commission (CFC) demanding they provide a definition of what they consider confidential information, paper El Semanario reported. The companies are being investigated by the CFC over alleged price-fixing, which the commission assures has been occurring since 1982. On May 28, CFC notified the companies they had five working days to comply with the requirement, which is based on arti... |
Pioneer Cement to build US$150m plant in Georgia09 June 2009, Published under Cement NewsPioneer Cement Industries will invest US$150 million in a new cement plant in two to three years, Nino Baratashvili, a head of National Investment Agency of Georgia, told Reuters. "Pioneer Cement Industries will invest $150 million but we don’t know yet what capacity the plant will have," Baratashvili said on Tuesday. Pioneer Cement Industries is a joint venture of RAK Investment Authorities from UAE (51 per cent) and Indian Penna Cement Industries (49 per cent). The company has already p... |
West China Cement wins two construction projects09 June 2009, Published under Cement NewsWest China Cement Limited, the AIM listed cement production and sales company located in Shaanxi Province, China, said Tuesday that it has won contracts on two projects in the area. The group has won the majority of contracts up for tender for the Shitian Expressway project. As at May. 31, Shitian Expressway had opened 64 tender sections, 51 of which are in Ankang Section and 13 in Hanzhong Section. WCC won 43 contracts in Ankang and 11 in Hanzhong, resulting in an overall number of 54 cont... |
Saudi Yanbu Cement plans 48 per cent output hike09 June 2009, Published under Cement NewsSaudi-based Yanbu Cement Co plans to spend SAR1.5bn (US$400m) to raise its production capacity by 48 per cent by 2011, its top executive said. At its current output capacity of 4.2Mt, Yanbu was not affected by a year-old ban on exports as the volume it produces is absorbed by local demand, Chief Executive Saud Islam told Reuters in an interview. But the firm will consider exporting once it had additional output becuase a growing local surplus in hitting prices. The expansion, which will b... |
’HeidelbergCement to sell Malaysia assets’09 June 2009, Published under Cement NewsHeidelbergCement is looking to sell assets in Malaysia for at least US$250m, two sources told Reuters, as the company tries to reduce debt. HeidelbergCement has been active in Malaysia since the acquisition of British rival Hanson in August 2007, producing ready-mixed concrete, aggregates and asphalt, according to its website. Standard Chartered is advising on the sale of these assets, said the sources, who declined to identified because the deal is not public. The sale, which may take a f... |
India May despatches up 10.7 per cent09 June 2009, Published under Cement NewsIndia’s cement industry maintained a growth rate of over eight per cent for the seventh consecutive month with a despatch growth rate of 10.7 per cent during May (YoY) at 16.45Mt. The industry produced 16.67Mt during the month, 11.95 per cent higher over the same period last year. However, the growth rate compared to April has slipped. In April, the industry witnessed a robust despatch growth rate of over 13 per cent. Industry analysts pointed out that performance is in line with expectatio... |
Southern Province reviewing growth plan08 June 2009, Published under Cement NewsA Saudi ban on cement exports may force Southern Province Cement Company (SPCC) to freeze expansion plans and prevent it from meeting contracts, its chief executive said. SPCC, which was the biggest Saudi cement firm by turnover last year, had been planning to expand one of its three factories by the end of 2010 but has now decided to wait until market conditions improve, Safar Dhufayer said. "As long as the ban exists we might consider delaying or changing the plan," he said. The firm pr... |