Cement News tagged under: international
India: 4Q may be the best in FY0927 March 2009, Published under Cement NewsThe Indian cement industry is set to see some relief in the March quarter, according to a report by Business Standard. Industry analysts and market players feel that the current quarter will turn out to be the best in the current financial year in terms of revenues, margins and profitability. Higher prices, significant despatches resulting from better-than-expected demand, declining input costs, favourable government decisions such as cutting excise duty and re-imposition of counter-vailing... |
Holcim successful bond issue27 March 2009, Published under Cement NewsHolcim Ltd has successfully placed EUR500m of a five-year bond with a coupon of nine per cent and will use proceeds to refinance existing debt and for general corporate purposes. Holcim said in a statement the bond will increase the weighted average nominal interest rate of financial liabilities by around 0.2 percentage points from 3.8 percent at the end of 2008 and lengthen the average maturity. It added it has refinanced around SwFR1.7bn (US$1.52bn) in 2009 and successfully maintained it... |
Lafarge sees growth for Morocco cement market27 March 2009, Published under Cement NewsMorocco’s cement market is likely to grow slightly this year as state-backed social housing projects offset delays and cancellations in commercial real estate, the local subsidiary of Lafarge said. Morocco experienced a construction boom in recent years as the government built new roads, rails and ports and drew record foreign investment in hotels and resorts to cater for growing numbers of tourists. Inward investment has tumbled since mid 2008, clouding the outlook for cement companies li... |
Gansu Qilianshan invests in new line, China26 March 2009, Published under Cement NewsGansu Qilianshan Cement Group Co, the largest cement maker in Gansu province and a specialty cement manufacturing base in northwest China, agreed to input RMB90m into Gangu Qilianshan Cement Co., Ltd., its wholly unit, to construct a 3000tpd new dry-process line, the company announced on March 9th. The project needs a total investment of RMB454.68m, with construction expected to take 12 months. Also, Gansu Qilianshan agreed to buy a 100% stake in Gansu Tianshui Yuanyang Cement Sales Co, Lt... |
Cement truck enters Gaza, "first since Nov. 2008"26 March 2009, Published under Cement NewsThe UN’s Office for the Coordination of Humanitarian Affairs (OCHA) in the occupied territories, reported on Wednesday that a 50t cement truck managed to enter the Gaza Strip last week, and added that this is the first shipment that makes it into Gaza since November of 2008. The cement is meant to be used in fixing the destroyed water networks. |
Lafarge recalls workers to Bath plant, US26 March 2009, Published under Cement NewsFifty full-time workers who were laid off from the Lafarge cement plant in Bath six weeks ago will be back on the job Monday. "It’s great news for everyone involved," said Lafarge spokesperson Rob Cumming. "Our group of people here much prefer to be producing cement. It’s what the plant is here for and we’re looking forward to everyone coming back." The employees, who represent about half the plant’s workforce, were laid off Feb. 6, mainly because of the downturn in the economy. Cumming ... |
India prices rise despite duty cut26 March 2009, Published under Cement NewsCement prices have gone up by about Rs10 a 50kg bag in March owing to an increase in demand and transportation constraints, reports The Hindu Business Line. However, dealers expect demand to plateau at the current level, indicating that there will not be any further price increase for some time in major markets. The Centre cut excise duty by four percentage points to eight per cent in February. Prices were hiked by Rs3-5 a bag in the first week of March and again by Rs5 a bag between March ... |
India Feb sales up 8.2 per cent25 March 2009, Published under Cement NewsIn February 2009, India’s domestic cement consumption grew by 8.2% YoY. The growth was due to acceleration in infrastructure activity ahead of the election scheduled over next two months. Consumption in Eastern (13.8% YoY), Central (10.2% YoY) and Northern (9.6% YoY) region continued to grow at robust pace. Consumption in Western region was disappointing with muted growth of 1.3% YoY on account of lower demand in Maharashtra. |
Holcim announces Catskill workforce reduction25 March 2009, Published under Cement NewsCatskill - The Holcim cement plant in Smith’s Landing has announced a reduction of 26 positions, with 24 current employees being affected. "Business is not as good as anybody anticipated," said plant manager Tom Campion. "Productivity needs to increase." Employee reductions were made across the board in every department of the plant, according to Human Resources Manager Tony Madrazo. Seven have already been reduced, with the remainder to leave before June. |
Cemex rises to highest in a month on agreement speculation25 March 2009, Published under Cement NewsCemex rose to the highest in a month in Mexico City on speculation the company will reach an agreement with creditors to refinance US$14.5bn of debt, reports Bloomberg. Cemex gained the most in the Bolsa index, rising nine per cent to 8.85 pesos at 3:14 p.m. New York time in Mexico City. “There is speculation they’ll reach agreement with creditors,” delaying principal payments that are coming due, said Francisco Suarez , head of equity research at Actinver SA in Mexico City. The Mexican g... |