Cement News tagged under: international
Lehigh Cement cuts production13 May 2009, Published under Cement NewsLehigh Cement Co. has reduced most of its employees’ work week to 32 hours, a company spokesman said Tuesday. About 101 hourly employees are affected by the reduction, which went into effect Monday. “What we’re doing there is really just a temporary thing,” said Jeff Sieg of Lehigh Hanson Inc., Lehigh’s Texas-based parent company. “We anticipate that we can bring people back to production, to their normal working schedules.” Sieg said the reduction reflects a decreased national demand for... |
Semen Gresik to sign US$604.8m loan for expansion13 May 2009, Published under Cement NewsSemen Gresik (SG), will sign a loan agreement worth IDR6.3trn (US$604.8m) with a number of local banks this month, an executive says. SG finance director Cholil Hasan said Tuesday the signing would be the follow up to a memorandum of understanding signed in December with Bank Mandiri, the lead arranger for the loan agreement. "The loan will be used to finance part of capital expenditure," of $1.3 billion to be spent within five years, from 2008 to 2014, Cholil said. Mandiri, the country’s... |
Turkish Akcansa posts Q1 loss of TRY3.3m13 May 2009, Published under Cement NewsTurkish cement manufacturer Akcansa posted a first quarter loss of TRY3.3m which resulted from financial costs generated by exchange rate fluctuations, it said on Tuesday. It posted a net profit of TRY8.2m in the same period last year. Akcansa, jointly owned by Sabanci Holding and HeidelbergCement Group said it had sales of TRY135.5m in the first quarter. Operating profit in the first quarter was TRY16.9m. "Despite the profit fall, resulting from exchange rate changes, we are maintainin... |
Eagle Materials resignation of Chief Financial Officer12 May 2009, Published under Cement NewsEagle Materials Inc announced that Mark V. Dendle, Eagle’s Executive Vice President - Finance & Administration and Chief Financial Officer, will resign effective June 12, 2009 in order to pursue other interests. Mr. Dendle has advised Eagle that he will remain in his position through June 12, 2009 to assist with transition items as well as the filing of Eagle’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009. |
PPC’s first-half profit declines12 May 2009, Published under Cement NewsPretoria Portland Cement’s first-half profit declined by 85 per cent, the cement maker said on Tuesday. Net income fell to R103 million from R674 million in the previous year, the company said. However, management said it remained confident that "a solid performance reflecting strong operating cash flows" would be reported for the full year. Positive signs included further expected reductions in South African interest rates which would generate some resumption of activity in the residenti... |
Vietnam south’s cement plants fail to meet demand11 May 2009, Published under Cement NewsThe south will still need 12-12.5Mt of cement transported from the north, even though the region has more cement production factories. The Viet Nam Cement Association said demand for the product in the southern market often reached 17.5-18Mt, but total production capacity of cement makers in the area was 7.3Mt. Makers expected to produce 5.5Mt of cement this year. At present, there are five cement production factories in the south that use local materials: Ha Tien 2, Holcim Viet Nam, Tay N... |
Carib Cement employees to resume work11 May 2009, Published under Cement NewsStaff at the Caribbean Cement Company have been ordered to resume work this morning after the Industrial Dispute Tribunal (IDT) intervened in a labour disagreement. Labour Minister Pearnel Charles told The Gleaner that the matter was brought before the IDT on Sunday after unions representing workers at the cement company failed to show up for meetings at the ministry. Charles said union representatives had failed to honour his requests to attend a number of the meetings at his offices on No... |
New Eagle cement plant update, Philippines11 May 2009, Published under Cement NewsEagle Cement Corp, a company owned by San Miguel Corp chairman Eduardo Cojuangco and president Ramon Ang, will start producing cement by the second quarter of 2010, reports the Manila Standard. Eagle Cement is putting up a PHP6.7bn cement plant in Akle, San Ildefonso, Bulacan to supply the requirements north of Manila, a company official said Friday. “Metro Manila is a market saturated with many cement plants already. Geographically there is no cement plant in the north. That’s why we want ... |
Cemex subsidiary to invest in limestone quarry11 May 2009, Published under Cement NewsRinker Jamaica Limited, the local subsidiary of Cemex, plans to invest US$300m to build a limestone quarry and port in Clarendon parish’s Rocky Point, on the island’s southern coast, the National Planning and Environment Agency (NEPA) reported on its website. The project includes the processing, transport and export of the limestone. Rinker Jamaica already has conducted an EIA covering the development of the port and the associated transportation mechanism (conveyor belt) from the processi... |
India industry on steady growth path, says industry body11 May 2009, Published under Cement NewsThe economic slowdown and slump in the housing sector notwithstanding, the cement sector continues to be steady with another 50Mt capacity to be added this year, industry body Cement Manufacturers’ Association (CMA) has said. The demand for cement has not come down. However, it remains to be seen what infrastructure policies are pursued after a new government takes over, CMA President HM Bangur said on the sidelines of Green Cementech 2009. If the country’s GDP grows at seven per cent, the... |