Cement News tagged under: international
Chavez: Nationalisation agreements on schedule25 November 2008, Published under Cement NewsPresident of Venezuela Hugo Chavez says Venezuela has settled its payment plan for a steel company nationalised in May and is making progress in other negotiations. He did not disclosed the price decided for steel-maker Sidor, owned by Argentina’s Ternium SA. Chavez says talks with Mexican cement giant Cemex for its Venezuelan subsidiary are ongoing. He says Cemex should expect less than its asking price because its plant will require investment to meet environmental standards. Chavez say... |
GCC cement makers Q3 profits down24 November 2008, Published under Cement NewsThe GCC cement sector saw a 15 per cent decline in profits in the first three quarters of 2008. The profitability of the GCC cement sector listed companies was US$1.46bn (AED5.35bn) in the third quarter 2008 compared with US$1.72bn in the third quarter last year. This is a decline of 15 per cent. The two main sources of the decline were Kuwait, where profitability went down a massive 74 per cent, and the UAE, where profits fell 15 per cent. "If these figures are for the first nine months... |
China cement prices fall in cold season24 November 2008, Published under Cement NewsChina’s cement market remains volatile as the effect from economic stimulus policy has not spread to the sector, said analysts. Cement prices in Beijing and Tianjin dropped an average of CNY10/t early in November as it is getting cold there. Especially cement price in Beijing fell CNY10-20/t. Analysts at China Cement Association and Digital Cement said that Beijing’s demands for cement remained weak as a whole in spite of a slight rise than before. Suspension of some real estate developmen... |
Net profit of Egypt’s Misr Beni Suef Cement increases by 5.6% in Jan-Sep.24 November 2008, Published under Cement NewsThe net profit of Egypt’s cement company Misr Beni Suef increased by 5.6% to EGP 223.3m (US$40.3m) for the first nine months of this year, the stock exchange said in a statement on its website without giving further details. Earlier this year, the company said that a new production line would be added to bring the total production capacity from 1.5Mt to 3Mt which would help increase the company’s exports from cement. Misr Beni Suef Cement is an Egypt-based company engaged in the producti... |
Five Banks ready to provide US$800m fund to Semen Gresik24 November 2008, Published under Cement NewsFive banks jointly in the syndication readied to disburse US$800m or IDR9.2 trillion loans to PT Semen Gresik Tbk for new plant construction. President Director of Semen Gresik Dwi Sutjipto said the company will have negotiation with some banks with their commitment so as to meet the required funds amidst the tightened bank liquidity. "The committed banks here are from state owned and national private banks. However, we will select overseas bank to get the loan," he said this week adding t... |
Lafarge CEO: energy price drop positive in 2009 if it continues24 November 2008, Published under Cement NewsThe recent drop in energy prices will have a positive impact on Lafarge in 2009 if the trend continues, the company’s chief executive, Bruno Lafont, told a shareholders’ meeting Saturday. "It’s clear that the current trend will have a positive impact if it continues and if the (lower) price of oil has a quick and direct impact on coal and fuel costs," Lafont said. In 2008, the high costs of energy has led to a strong rise in cement prices, he said. The cost of energy for Lafarge has risen... |
China Resources may defer listing of cement unit24 November 2008, Published under Cement NewsChina Resources (Holdings) might postpone an initial public offering for its cement operation until early next year in the face of the soured investment climate, said chairman Song Lin. The company had filed its listing application with the Hong Kong stock exchange and an approval hearing was scheduled for next Thursday, Mr Song said. "The overall market for initial public offerings has nearly come to a standstill. We are likely to defer the listing to early next year from late this year,"... |
EBRD support for largest greenfield investment in Albania24 November 2008, Published under Cement NewsIn one of the largest foreign direct investments in Albania, the EBRD is extending EUR29.4m in a debt and equity financing to Antea Cement to construct and operate a new plant north of the capital Tirana. Antea Cement is a subsidiary of the Greek cement manufacturer Titan Cement. The Bank’ finance will consist of a EUR12.6 million in equity for a 20 per cent stake in the company and a loan of EUR16.8m. The International Finance Corporation (IFC) will provide a parallel equity investment an... |
Government allows export of cement by IDEP projects21 November 2008, Published under Cement NewsThe government today gave its approval to engineering and construction firm IDEB Projects Ltd for exporting cement to Maldives. The firm has been allowed to export 41,000 cement bags of 50 kg each to Maldives through Tuticorin Port for construction of Indian-Maldives Friendship Faculty of Hospitality and Tourism Studies Centre, according to a Directorate General of Foreign Trade notification. |
The rise and fall of cement, construction - Carib Cement 3Q loss drags down parent TCL21 November 2008, Published under Cement NewsCaribbean Cement Company Limited is predicting that the market for cement will remain soft into December and that demand will likely hit four-year lows, tracking with a downturn in construction activity reported at the top of the week by the Planning Institute of Jamaica (PIOJ). Within the September quarter when the PIOJ reported that economic activity in the construction sector declined in real terms by 1.8 per cent, Caribbean Cement also reported that its sales had fallen by 6.5 per cent ... |