Cement News tagged under: international
Oficemen sees cement consumption in Spain down 23.5%12 December 2008, Published under Cement NewsCement consumption in Spain is expected to drop by a record 23.5% YoY in 2008 to 43Mt, Jean Martin Saint Leon, head of cement makers’ association Oficemen, said on Wednesday. This means consumption will shrink to the levels from 2003. Saint Leon said the sector was going through a "complicated" situation which would not improve in 2009. Next year demand is seen declining by 20%. Cement consumption in Spain totalled 40.4Mt from January to November, down 23% in annual terms. Cement product... |
Santander on Cemtech Americas12 December 2008, Published under Cement NewsOn December 8 and 9, we attended the Cemtech Americas Conference in Orlando, Florida, where experts on the U.S. cement markets shared their expectations for the industry over the coming years. Their consensus is that the contraction in the construction markets is one of the worst ever and should be deeper and longer lasting than initially expected. Regarding the infrastructure program recently announced by President-Elect Barack Obama, consensus is that this is a positive measure; however, i... |
Cemex falls on debt swap , profit concerns12 December 2008, Published under Cement NewsCemex fell the most in 11 years in Mexico City after the company failed to refinance some debt and analysts predicted “very weak” results this quarter as the economy slowed. Cemex slid the most in the Bolsa Index, losing 19 percent to 11.42 pesos. It was the first decline in eight days and the biggest drop since October 1997, when the Asian financial crisis sparked a rout in global stock markets. The company yesterday exchanged about 17 percent of the debt it had offered to refinance, a r... |
Vietnam: Country likely to consume 36Mt of cement11 December 2008, Published under Cement NewsThe cement output in Vietnam will reach 36.4Mt, 91 per cent of the annual set plan, in the first 11 months of the year, according to the Ministry of Construction. Some 3.35Mt of cement were produced in November alone. Consumption volume reached about 36Mt this year. The ministry has predicted cement consumption to reach 40-41Mt in Vietnam this year. |
Foreign companies contracted to renovate plants, Iraq11 December 2008, Published under Cement NewsAn Iraqi delegation to the Jordanian capital has signed two agreements with a number of foreign companies to renovate two cement factories in Anbar and Ninewa provinces, the Iraqi Ministry of Industry and Minerals said on Saturday. "Led by a legal advisor to the prime minister, Fadhil Mohammed Jawad, a Ministry of Industry and Minerals delegation has negotiated a deal to renovate a number of factories," according to a statement received by Aswat al-Iraq. The statement quoted Jawad as saying... |
Global cement majors eye stake in Andhra Cements11 December 2008, Published under Cement NewsLeading cement makers, such as Lafarge, CRH and Italcementi, are said to be in the race to buy stake in Andhra Cements (ACL), cement producer arm of the Duncan Goenka group, reports Economic Times. The deal will include a follow-on 20% open offer for ACL shareholders. It is expected that the acquirer could pay Rs 75 a share, or nearly Rs 9.25bn, for buying the promoters entire 73% stake and for the open offer. It is learnt that the Duncan Goenka group has appointed Ernst & Young as advisor... |
Indian cement cos concerned over slide in export prices11 December 2008, Published under Cement NewsAmbuja Cements Ltd (ACL) and Aditya Birla Group’s UltraTech Cement, the two biggest exporters of cement in India, have expressed concerns over prices coming down in the export market. “There is pressure on exports and prices are likely to take a dip by about $10 per tonne,” said KC Birla, CFO of UltraTech Cement Ltd. Export price of cement currently stands at $65 per tonne. UltraTech had decided to export the surplus cement after fulfilling domestic demand and had planned to export about 2... |
East Africa shareholders to forego dividends10 December 2008, Published under Cement NewsShareholders in East African Portland Cement Company will forego dividends for this year as the management ploughs back profit into projects meant to help the firm withstand increased competition. The decision not to pay the dividend despite a 40 per cent growth in operating profit is also informed by a foreign exchange loss of Sh415m incurred on a yen-denominated loan that has been straining the company’s cash flow for years. Despite unsuccessful efforts to amortise this loan, general fin... |
TXI Riverside Cement to layoff 88 workers10 December 2008, Published under Cement NewsTXI Riverside Cement, owned by Dallas-based Texas Industries will lay off the majority of its Inland work force starting Saturday. The company will lay off 88 people at its Rubidoux plant near Crestmore on Saturday and Dec. 19, said Frank Sheets, the company’s spokesman. In June, the South Coast Air Quality Management District fined the company $1 million in penalties for air quality violations at its plant near Riverside. In October, 285 people living nearby filed a lawsuit against the co... |
Villagers protest against new plant in Bhavnagar village, India10 December 2008, Published under Cement NewsThe proposed site for the upcoming Rs 900-crore Nirma cement plant at Padhiarka village in Mahuva taluka of Bhavnagar district has become a bone of contention between the company and the seven neighbouring villages. Bharat Narayan, the sarpanch of Dudheri, one of the affected villages, said: "The Salinity Control Department had constructed a control bund (Bandharo) at the proposed plant site in 1999 at an estimated cost of Rs 3.5 crore. This helped in building up a reservoir of sweet water ... |