Cement News tagged under: international
ACC to decide on Shiva Cement warrant conversion this week15 December 2008, Published under Cement NewsACC, India’s single-largest cement maker and part of Holcim, is likely to decide this week on conversion of equity warrants in Shiva Cement. The conversion could substantially increase ACC’s equity stake in the Orissa-based cement company. ACC, which currently owns about 14.45% in Shiva Cement- as per information available with the BSE- could see its shareholding in Shiva go up to about 25%, after the conversion of warrants. Such a move would trigger an open offer by ACC as its shareholdin... |
Ohorongo imports arrive, Namibia15 December 2008, Published under Cement NewsThe first consignment of 1000t of cement for the Ohorongo Cement Plant was delivered at the Port of Walvis Bay last week. Due to the current shortage of cement in the local market - Namibia’s second attempt at a cement factory - Ohorongo Cement has had to import from its parent company to build its new cement factory earmarked for a site between Otavi and Tsumeb. The first consignment of 1000t of cement arrived last Friday at the Walvis Bay harbour from the Schwenk Cement Company in Bernb... |
Laos: Laos’ largest cement plant to be built next year15 December 2008, Published under Cement NewsLaos’ largest cement plant with an annual capacity of 750,000t will be built in a joint venture with China’s YongFa Company by the beginning of next year. Under an agreement, inked on December 10 between the Lao government and YongFa Company, the US$77m plant will be completed after two years of construction in Vientiane province. At present, Laos has four cement plants and two grinding units which can not meet the increasing demand in the domestic market, especially when Laos is going to ... |
Cemex Drops as Morgan Stanley Says It May Post Loss15 December 2008, Published under Cement NewsCemex SAB fell to a one-week low in New York trading after Morgan Stanley said the largest cement maker in the Americas may report its first quarterly loss since at least 1996 in the fourth quarter. Cemex’s American depositary receipts plunged 5.5 percent to $8.16, bringing its two-day decline to 25 percent, the steepest since Oct. 16. The Mexican company may post a loss of 7 cents a share including a $431 million loss on derivatives, Morgan Stanley analyst Nicolai Sebrell wrote. The San P... |
Serbian unit to delay expansion12 December 2008, Published under Cement NewsThe Serbian unit of Holcim will delay an EUR80 m project aimed at doubling its cement production due to the global economic crisis, Serbian state news agency Tanjug reported. The project will be delayed by one year as the company does not forecast a rise in cement demand during 2009, Tanjug quoted the head of Holcim Serbia, Gustavo Navarro, as saying on Wednesday. |
Afrisam ZAR900m in the red, South Africa12 December 2008, Published under Cement NewsAfrisam (formerly Holcim), the cement and aggregate producer controlled by a BEE consortium, has posted a loss of over R900m for the quarter ending September 2008 after financial and operating expenses bloated markedly. The poor performance is a blow to the BEE consortium that paid around R15bn for an 85% stake in the well known cement producer. Afrisam was formed when BEE investors acquired a controlling stake in Holcim SA from Swiss-based Holcim in late 2006. It was not long after Holcim... |
Sugar Creek planning commission denies rezoning application12 December 2008, Published under Cement NewsAfter months of often-emotional public hearings, authorities in Sugar Creek have said a new mining proposal should not go forward. That was the recommendation of the city’s planning commission Thursday night. The commissioners, in a 6-3 vote, denied a rezoning application for a subsurface limestone mining operation underneath a former dairy farm known as Cedar Crest. Lafarge Aggregates in August filed an application for the new operation. The approximately 165-acre site is surrounde... |
Recent order for ABB, Saudi Arabia12 December 2008, Published under Cement NewsABB Switzerland Ltd announced that it has won an order worth US$6.47m from Eastern Province Cement Company, Saudi Arabia, for the revamp of two raw mills and four cement mills. EPCCs factory lies about 165km north of Dammam, in Al Khursaniya. In total ABB will deliver six water cooled cycloconverters including the new control and regulation system AC800PEC. Two new water cooled cycloconverters with a power of 5900kW each will be implemented for the upgrade of the raw mills #1 and #2. Add... |
China Sinoma halts, cuts Nigeria cement projects12 December 2008, Published under Cement NewsChina’s Sinoma International said on Friday it had reached agreement with a Nigerian partner to suspend a cement project worth $1.45 billion and cut the size of another by nearly two-thirds – both in the African country. Sinoma and Nigeria’s Dangote Group had agreed to suspend one project involving six cement assembly lines, and cut the size of another project involving seven lines to $689.54 million equivalent from $1.81 billion, it said in a statement. Sinoma said the adjustments would n... |
Ultratech to open 400 retail outlets by 200912 December 2008, Published under Cement NewsLeading cement company Ultratech has plans to open 400 new unique retail outlets across the country. The company is also planning to open many more outlets in Orissa, reports Business Line. Ultratech Cement has opened five UBS retail outlets in Orissa`s Bhubaneswar, Puri and Cuttack. This was the first ever entry of UBS retail outlets in the growing construction markets of Orissa. Currently, the company`s 89 existing outlets has been operational in states like Gujarat, Haryana, Tamil Nadu ... |