Cement News tagged under: international
Rain Commodities to buy back 4.56M shares31 March 2009, Published under Cement NewsHyderabad-based cement manufacturer Rain Commodities Limited (RCL) stated that its board has approved buy-back of up to 4.56m shares accounting for 11.58 per cent of the paid-up equity share capital of the company. |
UAE: Cement price to fall 22 per cent31 March 2009, Published under Cement NewsCement companies in the UAE have been asked to reduce the price of cement by 22 per cent with effect from April 1. The new price has been fixed at Dh280 for a tonne of bulk cement and Dh14 for a bag. Most factories have been selling bulk cement at about Dh330 to Dh360 per tonne, while bags are priced at Dh16 and an additional dirham is levied as transport charges. The Ministry of Economy, in co-ordination with the Cement Producers Group, has decided to revise the cap on prices, in keeping ... |
Grasim commissions 33Mt clinker facility31 March 2009, Published under Cement NewsGrasim Industries Ltd on Monday announced the commissioning of its 3.3Mt clinker facility at Andhra Pradesh, India reports the Economic Times of India. This new clinker facility is expected to add 3.3-4Mt in despatches in FY10, depending upon the company’s blending ratio. Grasim’s total cement despatches, on stand alone basis, were 11.9Mt in the first nine months of FY09, a growth of 4.4 % YoY. |
Austrian Asamer buys stake in Libyan joint venture31 March 2009, Published under Cement NewsBuilding-materials produced Asamer in Upper Austria will pay EUR110m for an interest in three cement plants in Libya, according to reports from local press. Asamer will have a 56 per cent interest in a new joint venture, with the remainder to be held by Libyan state fund ESDF. Asamer, based in Ohlsdorf in Gmunden district, announced today (Mon) that Raiffeisen Zentralbank (RZB), Raiffeisenlandesbank Oberösterreich, Sparkasse Oberösterreich and Raiffeisenlandesbank Niederösterreich-Wien wou... |
Anhui Conch 2008 net profit rises 5%31 March 2009, Published under Cement NewsAnhui Conch Cement Co said Monday its 2008 net profit rose 5% on strong sales volume growth and higher cement prices. China’s largest cement producer by output posted net profit of CNY2.61bn for the 12 months ended Dec. 31, up from CNY2.49bn the previous year. |
Venezuela Court: return Cemento Andino assets to Argos31 March 2009, Published under Cement NewsColombia’s largest cement company, Cementos Argos SA can now negotiate with the Venezuelan government for compensation after the expropriation of Venezuelan cement plant Cemento Andino, Argos said Monday. The assets of the Venezuelan plant, which changed hands a few times in the past three years, have been ruled by Venezuela’s Supreme Court of Justice as belonging to Argos. "Cementos Argos is pleased with this important ruling as it reverts the unfair decision against us," Argos said in a ... |
Misr Beni Suef Cement 2008 profit up 4.8 per cent30 March 2009, Published under Cement NewsEgypt’s Misr Beni Suef Cement posted a 4.8 percent rise in net profit to E£202.4m (US$35.9m) in 2008, the company said in a note to the stock exchange. The firm had made EE193.1m a year earlier, the note said, giving no further details |
Vietnam: cement industry urged to boosts exports30 March 2009, Published under Cement NewsPrime Minister Nguyen Tan Dung has asked the Vietnam Cement Industry Corporation (VICEM) to work out a concrete strategy for a regional and international VICEM trademark. The Government leader made the request at a working session with VICEM on March 26, urging the corporation to achieve the status of a national cement industry group. It is imperative to put on additional 18 cement factories into operation this year, capable of producing over 20 million tonnes a year. VICEM has therefore t... |
EBRD prepared to provide EUR170m to Azerbaijan project30 March 2009, Published under Cement NewsThe European Bank for Reconstruction & Development (EBRD) is ready to look at financing Kiln Line 6 for Azerbaijan’s, Garadagh Cement OJSC. The Bank informs that the EBRD Board of Directors is prepared to consider the issue financing of EUR 170m for this project valued at EUR330m. The EUR 170 million structured corporate loan with a senior A/B loan of EUR150m, of which approximately 50% will be offered to commercial banks (B lenders), and a EUR20m subordinated C loan for EBRD’s account. An... |
ACC calls for further hike in prices30 March 2009, Published under Cement NewsACC has insisted that cement should be sold at Rs 300 per bag in the retail market if it needs to go ahead with its growth plans for 2010, reports Economic Times. This is the first instance that any cement company has called for such a big hike in prices. Today, the average price per bag hovers at Rs 250 per 50 kg bag on a pan India basis. The company said that prices need to go up to Rs 300 per bag because current prices do not support ACC`s plans to invest in creating new capacities. I... |