Cement News tagged under: international
PCA revises cement forecast downward10 November 2008, Published under Cement NewsThe weak economy and tight credit conditions, coupled with severe job losses and the resulting decline in state government revenues, will translate into significant weakness for the construction industry through 2010, leading the Portland Cement Association (PCA) to again adjust its cement consumption forecast. The latest PCA forecast of cement, concrete, and construction predicts a 12.8 percent decline in cement consumption in 2008, followed by 11.9 percent and 2.1 percent declines in 2009... |
Saudi Arabia: Real estate sector expected to regain vibrancy10 November 2008, Published under Cement NewsThe real estate market in Saudi Arabia is expected to return to its former vibrancy following the drop in the prices of building materials, such as iron and cement, a key market player said. He added that the sector would soon pick up and that realtors would resume building housing units for all levels. Al-Shallash, who is the CEO of Dar Rakan Real Estate Development Company, was talking to the press after signing a sponsorship and strategic partnership contract with the Jeddah Economic Fo... |
Malawi cement producer train builders10 November 2008, Published under Cement NewsAccording to local press reports, Lafarge Cement Malawi, has said there is need to equip artisans, builders and masons with vocational skills in order to improve the quality of structures that are constructed in the country. Lafarge Managing Director Sjoerd Grueter said in the capital, Lilongwe at the launch of the Umisili Partnership programme which seeks to equip builders that have little technical training with skills of how they can effectively use the company’s Kumanga cement. Some... |
Lafarge WAPCO records N32bn Q3 turnover10 November 2008, Published under Cement NewsDespite the harsh operating environment in recent times, Lafarge WAPCO Plc, within the first nine months of this year, grew its turnover by nine per cent to close the third quarter with N31.9 billion. Also, the company will pay the last tranche of its N10.5 billion debt this November, thus making it a debt free entity. Mr. George Lourandos, WAPCO’s Managing Director, made these disclosure at a media briefing in Lagos, stating that, though the company faced some operational challenges in th... |
Vietnam: building booms as construction costs drop10 November 2008, Published under Cement NewsA building boom is taking place throughout Vietnam as contractors take advantage of falling prices for materials to complete delayed building projects. The boom is aided by falling interest rates and a call by the State Bank for all banks to give priority to real-estate projects that are feasible. The building and real-estate industries are now expected to revive from a long slump and keep busy for at least a year. Buyers have also shown renewed interest as the price per square metre of ... |
Lower profits in Italy and Turkey hit Italcementi10 November 2008, Published under Cement NewsItalcementi’s underlying turnover for the first nine months improved by 3.5% to €4419m, though in absolute terms there was a 4.2% reduction because of the non-consolidation of Calcestruzzi, and the running EBITDA declined by 18.5% to €906.0m. The trading profit fell by 26.5% to €577.8m and the net profit by 30.2% to €325.2m, with the profit from associates being hit by a reduced profit from Vassiliko Cement on Cyprus. The net debt at the end of June stood at €2,581.4m, which represents a ge... |
Cemex sells Canary operations to Cimpor10 November 2008, Published under Cement NewsIn its latest attempt to reduce debt, Cemex has negotiated the sale of its activities on the Canary Islands to Cimpor for an amount in the region of €165m. The deal is dependent on the approval of the competition authorities and the extent to which Cemex’ joint venture partners do not exercise their pre-emption rights with respect of the INPROCOI mortar plant on Tenerife and Cementos Especiales de las Islas. Cementos Especiales de las Islas owns a 1.5Mta grinding station on Gran Canaria,... |
India cement prices to plunge by December-end07 November 2008, Published under Cement NewsCement prices in the country are likely to fall by Rs 10 from December-end onwards on account of deteriorating demand, say industry players. Meanwhile, some dealers in Mumbai have started offering a discount of Rs2-3 per bag due to weak demand. A 50kg bag of cement at present costs between Rs 244 to Rs 255 in Mumbai. “There is no demand and we are seeing a dip of 40% in our business this year against last year, which is forcing us to sell cement at a discount,” said a Mumbai-based stockist... |
Calls for State support for Russian cement industry07 November 2008, Published under Cement NewsRussia’s Regional Development Ministry is working on anti-crisis measures for the cement industry. Officials and industry experts have two months to write a new federal targeted programme for cement industry development to 2011. According to the Ministry’s preliminary estimates, this program could include around 200 billion rubles of state support for cement producers, provided for the purpose of building factory infrastructure and interest rate compensation on loans. But while the volume ... |
India: NTPC to set up four cement plants07 November 2008, Published under Cement NewsState-owned power generation company NTPC plans to set up four fly-ash-based cement plants across the country over the next few years. It has recently sought expressions of interest from prospective joint venture partners to set up a company to manufacture cement. This is NTPC’s first step towards forward integeration, wherein it plans to use fly-ash generated by its power plants. |