Cement News tagged under: international
Russia’ OJSC fails to arrange funds for buying out assets of Set22 October 2008, Published under Cement NewsChairman of cement maker Set Group Holding, Adnan Ignebekcili, informs that Russian OJSC Holding Company Sibirskiy Cement could not manage to raise funds to complete the buyout of the group’ assets until the given deadline of Oct 20. In April, Italcementi, through its French sub-holding Ciments Francais, agreed to sell cement assets in Turkey , including Set Group, Set Cimento, Set Beton and Ayfon Cimento, to Sibirskiy Cement for a total of EUR 600mn in cash and stock. Afyon Sigorta issued... |
Mangalam Cement Jul-Sep net profit down 20%21 October 2008, Published under Cement NewsMangalam Cement’s net profit declined 20 per cent to Rs 22.3 crore in the quarter ended September 2008 from Rs 27.80 crore year ago. While the expenditure has gone up by 18 per cent from Rs 93.67 crore to Rs 110.75 crore YoY, Mangalam recorded 11 per cent dip in profit before tax and depreciation at Rs 35.94 crore from Rs 40.82 crore recorded in the same quarter last year. The company registered a growth in net sales of 6 per cent from Rs 133.48 crore to Rs 140.84 crore YoY. Interestingly... |
Demand for cement in Azerbaijan to reach 4.3Mt in 200821 October 2008, Published under Cement NewsAzerbaijan’s leading producer Garadagh Cement OJSC, forecasts further growth in domestic demand for full year 2008. Horia Adrian, general director of Garadagh Cement, said that since 2002 cement demand in Azerbaijan has grown 2-4 fold. “In 2008 we expect it to rise up to 4.3Mt,” Adrian said. Meanwhile, Garadagh said it hopes to attract the European Bank of Reconstruction and Development (EBRD) to to help finance reconstruction of an old factory. Holcim has allocated EUR 300m for new pr... |
Indonesia Sept consumption down 4.5 per cent21 October 2008, Published under Cement NewsIndonesia’s domestic cement consumption in September fell 4.5 per cent to 2.97Mt from a year ago, industry data showed on Monday. The data shows that the country’s largest cement producer, PT Semen Gresik Tbk, recorded a 10.4 per cent fall in its total cement sales, including exports, to 1.33Mt in September. |
Croatian-Russian JV to build new plant in Russia21 October 2008, Published under Cement NewsA joint-venture company between Croatian building materials producer Nexe Grupa and Russian company Karbonat will build a cement factory in Russia in which it will invest between EUR180m and EUR300m, Croatian daily Poslovni reported on Monday. The new factory will be located in the town of Gus-Khrustalny, some 170km east of the capital Moscow, and will have an annual production capacity of 1Mt of cement, Poslovni reported. Nexe Grupa will provide the equipment for the cement production. A ... |
Sale of Italcementi Turkish unit not closed21 October 2008, Published under Cement NewsThe sale of the Turkish business of Italy’s biggest cement maker Italcementi has not been completed despite a deadline of October 20, Italcementi’s subsidiary Ciments Francais said in a statement to the Istanbul stock exchange on Tuesday. It did not give a reason for the delay. Italcementi unit Ciments Francais was due to sell Set Group in Turkey for EUR600m in cash and stock to Sibirskiy Cement. |
Holcim Philippines reports flat growth rate21 October 2008, Published under Cement NewsThe cement industry in the Philippines has been experiencing a flat-rate growth in the last few months due to the impact of the global financial crisis. Ian Thackwray, chief operating officer of Holcim Philippines, admitted on Monday that the company has been on a zero growth since the second quarter of the year, a huge decline compared with the 5-6 per cent growth at the beginning of 2008. “What we are seeing now is a strong slowdown in the cement demand because people are being cautious ... |
SNIC comments on Brazil 2009 growth projection comment20 October 2008, Published under Cement NewsThe executive secretary of Brazil’s national cement industry union SNIC, Josétáio Carvalho, is not changing sector projections for this year, state news service Agêcia Estado reported. The sector has an accumulated increase of 15% up to August and should close 2008 with 52Mt, Carvalho said, adding: "For 2009, we were projecting a growth of 8% but that is certainly not going to happen." Cement firms in Brazil are in an investment phase, he said, which could be complicated if the financial c... |
South Korean investor plans to develop Indonesian plants20 October 2008, Published under Cement NewsTwo South Korean investors have sounded plans to develop new cement plants in the Indonesian province of Papua with a total capacity of 3Mta. Their total investment is estimated to reach US$350m. "The South Korean investors are really enthusiastic and interested in developing cement plants in Papua. One of them is seeking local partners," told Minister of Industry Fahmi Idris yesterday. According to him, the Department of Industry was reviewing the plans. The review covered identification ... |
Egypt cancels tax on cement and steel exports20 October 2008, Published under Cement NewsThe state news agency MENA said that the Egyptian government has cancelled the tax on exports of cement and iron and steel products. It said that “The decision by Trade and Industry Minister Mr Rachid Mohamed Rachid was in response to the possibilities of an international economic slowdown, which would hit Egyptian exports.” MENA quoted Sayed Abu Qumsan Deputy Trade and Industry Minister as saying that This measure was taken in the framework of the ministry’s efforts to deal with the reper... |