Cement News tagged under: international
Semen Gresik seeks US$300m loan25 February 2009, Published under Cement NewsPT Semen Gresik Tbk seeks US$300m loans to finance the acquisition of cement manufacturer from Malaysia and Philippines. An executive knowing the plan said the Credit Suisse as the financial advisor of Semen Gresik in the acquisition predicted the state owned cement company here could acquire a cement firm worth US$150-250m. "The maximum is up to US$300m and it is still possible," he said to Bisnis yesterday. Credit Suisse recommended two cement companies of the Philippines and Malaysia, ... |
Acquisitions boost Titan’s turnover and cement tonnage25 February 2009, Published under Cement NewsTitan’s turnover increased by 5.4% in 2008 to €1,578.5m, helped by acquisitions and broadly unchanged at the underlying level. The weakness in the United States and in Greece was to a large extent offset by improvements in South Eastern Europe and in Egypt, which limited the decline in the EBITDA to 11.2% to €380.0m. Higher interest charges resulting from acquisitions let to a 30.1% reduction in the pre-tax profit to €210.0m. A lower tax rate was a result of falling US profits, a higher... |
AYCC to launch cement plant in Hadramout24 February 2009, Published under Cement NewsThe Arabian Yemen Cement Company AYCC has announced that 93% of the company’s cement plant in the eastern province of Hadramout has been completed. Preparations got underway to open the plant officially in the next few months, head of the board of directors of the company, chairman of the Bugshan Group Abdullah Bugshan said. The US$ 260m factory that covers 22km2 will produce Portland cement. Bugshan said that his group is currently implementing other investment projects in Yemen including... |
UAE cement makers call for reimposition of import duty24 February 2009, Published under Cement NewsUAE cement and steel producers feel the time is right for the reintroduction of customs duty on imports in an effort to protect the interests of local manufacturers, according to reports from Business 24-7. Several local producers fear that as global demand for construction materials declines, imports could glut the local market. However, some warn that a duty could result in higher construction costs and add to the pressures on the financing of the project. Mr Ajay Aggarwal CEO of RAK... |
Germany: 2008 indicates the end of the boom for construction equipment and building material machinery24 February 2009, Published under Cement News"The period of extraordinary growth in the construction equipment and building material machinery industry, which lasted for six years in a row, has now come to an end," says said Mr Dr Christof Kemmann, Chairman of the Construction Equipment and Building Material Machinery Industry’s Association (part of the VDMA). Speaking at a board meeting in Frankfurt Mr Kemmann said: "Never before have we seen such a sudden and drastic decrease in incoming orders happening at so many companies, in so m... |
HSBC cautious on Indian cement sector23 February 2009, Published under Cement NewsGiven the deteriorating macro economic outlook and expectations of softening GDP, the long term outlook for the cement sector remains difficult. HSBC in a report said that it is cautious on the sector. "Our key underweight stocks are ACC, Ambuja Cements, Madras Cements and India Cements. However, we are overweight on Shree Cements," the HSBC report said. High dispatch growth in January was due to a low y-o-y comparison (5% growth in January 2008). The figure was low last year as a severe wi... |
Cement prices to come down, Jamaica23 February 2009, Published under Cement NewsThe Caribbean Cement Company (CCC) Limited has announced there will be reduction in the price of cement, effective Monday. This price rationalisation, according to the cement company, will see prices reduced at all its distribution centres outside of Kingston. The cement company said in a release that customers could also expect to see its products being sold for one price islandwide. "The company has been able to hold its prices and offer this reduction to its customers, largely due to i... |
Slowdown signs -Ukrainian cement plants to reduce output23 February 2009, Published under Cement NewsMr Otto Lose GD of Dyckerhoff Zement has said that Dyckerhoff expects its Ukrainian cement plants to reduce production 20% in 2009. Without indicating the expected production volume for last year or this year that he said that "The year 2009 will be a difficult one and we are forecasting a roughly 20% drop in cement production at Ukrainian plants that are part of the group compared to 2008.” Mr Lose said earlier that “Last year’s production and sales were expected to remain at about the sa... |
EBRD’s exit from Lafarge Ciment, Romania23 February 2009, Published under Cement NewsLafarge last year bought the 20 perc ent stake that the European Bank for Reconstruction and Development (EBRD) held in Lafarge Ciment Romania, through holding company Lafarge Romania SA, for EUR215m. Therefore, the value of the local subsidiary exceeds one billion euros and is a multiple of 7.5 of the net profit of 2007, EUR132m, and a multiple of 3 of the turnover of the same year, EUR324m. Lafarge Ciment posted RON1.39bn (EUR380m) in turnover last year, an increase of 28.9 percent compa... |
Cemex proposes Barrington plant closure23 February 2009, Published under Cement NewsCemex has announced proposals to close one of its cement manufacturing plants in Barrington, Cambridgeshire, which could result in the loss of 87 jobs, according to reports from Contract Journal. The proposed move is part of a plan to rationalise the company’s manufacturing in the UK by transferring part of Barrington’s production to plants at Rugby in Warwickshire and South Ferriby in North Lincolnshire. Cement manufacturing at Barrington involves feeding wet raw materials, mainly limesto... |