Cement News tagged under: international
Demand rises on increased home ownership, Kenya19 February 2009, Published under Cement NewsDemand for cement has gone up on the back of an increase in the number of middle class Kenyans constructing their first homes and increased government spending on civil works. This emerged amid concerns that the slowing economy was poised to hurt demand. Latest Central Bank of Kenya statistics show that cement consumption in the first 11 months of 2008 increased by 36 per cent from 1.86Mt, in the same period in 2007, to 2.5Mt. Report offers comfort to shareholders holding cement stocks as... |
Lafarge WAPCO Doubles Production Capacity19 February 2009, Published under Cement NewsLafarge WAPCO Cement yesterday said it intends to double its production capacity by 2.2Mta. Its Project Director, Mr Guy Chaperon, said this yesterday at the foundation laying ceremony of Lafarge Cement’s new plant, named, Lakatabu Cement, at Ewekoro, in Ogun State. Chaperon said, "in Yoruba Language, Lakatabu signifies the might of a big elephant. With this project, Lafarge Wapco is going to increase production capacity by 2.2Mta. This is twice the capacity of the existing Ewekoro Plant... |
Cement factories firms up sale18 February 2009, Published under Cement NewsJordan Lafarge Cement Factories Company (JCFC) generated JD49.3m profit in 2008, about the same level it posted in the previous year. The company said in a statement that despite a four per cent drop in demand on cement due to lower construction activities and housing projects, the company upped its sales by 24.4 per cent to JD321m. However, the company’s profit remained even as a result of costly fuel prices and electricity charges as well as high inflation rates. |
Portugal’s CGD Buys 9.584% Cimpor stake18 February 2009, Published under Cement NewsCimpor said late Monday that state-owned bank Caixa Geral de Depositos acquired a 9.584% stake in Cimpor for about EUR306 million. CGD bought the stake from Cimpor’s major shareholder Investifino at EUR4.75 per share in an over-the-counter deal, according to a filing with stock market regulator CMVM. CGD added that Investifino has an option to buy back the shares over the next three years. |
Jidong Cement to Acquire Qinling Cement18 February 2009, Published under Cement NewsJidong Cement Co., Ltd, one of the largest cement producers in China, is acquiring Shaanxi Qinling Cement (Group) Co., Ltd. (SHSE: 600217), a strategic step toward its expansion in northwest China. State-owned Yao County Cement Plant, which takes a controlling 25.71 percent stake in Qinling Cement, is in talks with Jidong Cement about transfer, said Qinling Cement on Tuesday. Therefore, Qinling Cement, the largest cement producer in Shaanxi Province, suspended its share trading on the Shang... |
Egypt takes steps to hold cement prices18 February 2009, Published under Cement NewsThe Egyptian government has announced new measures to control the retail price of cement, the state news agency Mena said. With effect from Thursday, the Ministry of Trade and Industry will require all cement producers to fix a maximum price at every stage of the distribution process, including the maximum price consumers should pay, it said. The producers must stop dealing with distributors who do not observe the maximum prices, it added. Distributors will also have to report to the minis... |
Siam Cement sets four-year bond at 5.15 per cent18 February 2009, Published under Cement NewsSiam Cement PCL, Thailand’s largest industrial conglomerate, said on Thursday it had set a coupon of 5.15 per cent on a bond issue of up to THB20bn (US$566m) to refinance maturing debt. The four-year bonds, rated "A" by Thailand’s Fitch Ratings, would open for subscription to existing bondholders and the public from March 2 to 27, the company said in a filing with the Securities and Exchange Commission. The coupon was set at about 284 basis points over comparable government bonds. The pri... |
Ciments Francais to be absorbed by Italcementi17 February 2009, Published under Cement NewsItalian cement group Italcementi will acquire the remaining stock it doesn’t already own in French affiliate Ciments Francais at an exchange premium of 12.9 per cent, the companies said Monday. Italcementi will swap 8.25 of its shares for every one Ciments Francais share under the transaction. In a conference call after the announcement, Ciments Francais Chief Executive Yves-Rene Nanot said the deal is beneficial for shareholders because it will preserve cash as there is no cash element in... |
India: Steel and cement companys may see surge in demand17 February 2009, Published under Cement NewsSteel and cement companies are expected to see a surge in demand due to fund allocation to the Bharat Nirman scheme, a time-bound plan for building rural infrastructure. But the companies are clear that this can only happen if projects take off on time. The interim budget has allocated INR40,900 crore to the scheme. "The two major inputs that go into almost every infrastructure project are cement and steel, and Bharat Nirman is all about providing facilities to the people. Work on new steel... |
Nigeria: Federal Government turns down request for cement import ban17 February 2009, Published under Cement NewsThe Federal Government, on Monday, turned down a request by the Cement Manufacturers Association of Nigeria to ban the importation of cement into the country. It will be reacalled that the Federal Government, in a bid to bridge the gap between demand and supply of cement in the country, had last year granted licences for importation to some firms with a view to reducing the cost to end users. The Minister of Commerce and Industry, Chief Achike Udenwa, who played host to stakeholders in the... |