Cement News tagged under: international
Indian cement prices to soften29 December 2008, Published under Cement NewsIndia’s Economic Times has reported that cement prices are expected to soften by about INR7 to INR12 per bag in the first week of January, due to a slowdown in the housing sector and cheap imports of cement from Pakistan. Currently, a cement bag cost around INR215 to INR235 on an average in country. Senior industry officials said that companies such as Ambuja Cement, Shree Cement, Binani Cement, Dalmia Cement are likely to cut prices by INR 7 per 50kg bag due to the slowdown and increased s... |
Nigerian prices and imports in the spotlight again29 December 2008, Published under Cement NewsEvery day, news about high cost of cement makes headlines in the Nigerian press and while some blame the present government for lack of political will to enforce government policy to check possible abuses in the sector, others are pointing accusing fingers at some big players in the cement sector for the formation of a monopolistic cartel. However, the media has criticised present governmental efforts to stall the soaring prices of cement in the market and the granting of import app... |
Tank-Weld imports from Vulcan in US29 December 2008, Published under Cement NewsTank-Weld has signed a contract with US construction firm vulcan Materials to supply cement to the Jamaican market. Under the agreement, Tankweld will be importing cement from Vulcan, presumably from its own Florida Rock operations and distributing it from its Rio Bueno port plant in Trelawny. Tankweld, in a press release last week, said that the product is Portland slag cement. The product will be available to the local market as of February. ... |
Cemex to sell TCL shares24 December 2008, Published under Cement NewsCemex, plans to sell its 20 per cent stake in Trinidad Cement Limited (TCL) in response to difficult times the company has been hit with during the global economic dowturn, including nationalisation of a portion of its assets held in Venezuelan. TCL notified the Jamaica Stock Exchange (JSE) yesterday that "there have been developments in the financial fortunes of the company’s largest shareholder, CEMEX, as a consequence of the global financial crisis". "While the board of directors of TCL... |
CNBM sees benefit of stimulus packages - UBS24 December 2008, Published under Cement NewsCNBM said its parent is to acquire 85.17 per cent equity interest of Inner Mongolia Wulan Cement. UBS cited management confirming that Wulan Cement is not going to be injected into listco in near term. The investment house also citied CEO Mr. Cao indicating that the cement industry will benefit from the government stimulus packages despite both cement and clinker prices have corrected sharply from September to November. |
JK Cement eyes 6Mta greenfield unit In Himachal Pradesh23 December 2008, Published under Cement NewsRich limestone deposits and the state government not averse to having more cement plants is attracting more players with JK Cements being the latest entrant, vying for setting up a large greenfield plant in Himachal Pradesh. Industry department officials disclosed that JK Cement has put up a proposal for setting up a 6Mt capacity plant in Sirmaur district that would involve an investment of about INR6000 crores. “The proposal is under examination,” Arun Sharma, state geologist said. Cemen... |
Competition office launches probe into Strabag takeover of Cemex units23 December 2008, Published under Cement NewsHungary’s Competition Office (GVH) said on Monday that it will launch a detailed two-phase investigation of Austrian construction company Strabag’s acquisition of the Hungarian and Austrian units of Mexican cement company Cemex. GVH said that preliminary investigation found that both the individual and combined market shares of Strabag and Cemex surpass the critical limit in the case of at least one product in Hungary, while the merger would increase market concentration in several geograph... |
Cemex says banks agree on refinancing deal23 December 2008, Published under Cement NewsCemex said on Monday its banks had agreed to refinance nearly US$2.2bn in debt maturing in 2009 and 2010, edging it away from default. Cemex, under pressure from investors with slumping sales and US$6bn in debt maturing in 2009, said that debt will now be payable in February 2011. Monterrey-based Cemex, which operates in more than 50 countries, said creditors had also agreed to extend almost half its US$3bn syndicated loan facility due in December 2009. Investors have been worried the com... |
Overcapacity to reduce cement prices in Saudi22 December 2008, Published under Cement NewsOvercapacity will push down cement price in Saudi Arabia from SAR255 (Dh250) to SAR200 per tonne in the next five years, according to a recent HSBC Saudi cement sector report. The eight Saudi incumbent cement operators are ramping up capacity just as six new players enter the market – and the government has banned exports, as well as setting a ceiling on prices in Saudi Arabia. Between 2002 and 2007, cement consumption rose to 6.5Mta. By 2010, there will be an additional 13.5Mta of c... |
Equipment for Ba-tis cement factory arrives in Aden22 December 2008, Published under Cement NewsThe necessary equipment for the Ba-tis cement factory arrived in Mo’ala seaport on Monday. The equipment for the cement factory to be established in Abyan governorate totaled 6344t, according to a report from the seaport. The report also said that about 5380t of cement, 38t of wheat and about 2500 head of sheep have been unloaded in the port. |