Cement News tagged under: international
Thailand’s TPI Polene (TPIPL): The worst isn’t over19 September 2008, Published under Cement NewsForecast for TPIPL’s 2008 earnings was revised down to a net loss of Bt4.9bn from a net profit of Bt1.8bn as the company recorded provision expenses for the Bt6.9bn fine over stock manipulation in its 2Q08 financial statement. On the valuation side, the negative impact of the huge fine to DCF target price is greater than expected because the company recorded the fine as a liability in its balance sheet in 2Q08 versus previous estimate of cash outflow for the fine payment in 2012 (assuming ... |
India: fal in cement output helps companies hold prices19 September 2008, Published under Cement NewsThe sharp fall in cement production in August seems to have helped companies hold the prices despite the slump in demand in select pockets. Production in August was down 10.23 per cent at 13.16Mt 14.66Mt in July as capacity utilisation dropped to 77 per cent against 87 per cent in July, while it was 88 per cent in August 2007. Incidentally, cement production at Aditya Birla Group companies – Grasim Industries and UltraTech Cement – as down 8.87 per cent at 2.12Mt in August while dispatches... |
Lafarge North America to increase 2009 US cement prices19 September 2008, Published under Cement NewsLafarge North America Inc announced today that, due to significant continuing cost challenges, the company will raise cement prices in the United States by US$15/t. The increase will take effect January 1, 2009. The company said that 2007 and the first three quarters of 2008 saw increased operating and energy costs, and this, when combined with a sharp decline in construction activity, has made for a very challenging environment in the North American market. While prices of competing buildi... |
Adani Power to tie in with cement manufacturer, India18 September 2008, Published under Cement NewsAdani Power is trying to rope in a cement manufacturer to ensure an environment friendly as well as economically-beneficial utilisation of fly ash be generated by 4620-MW Mundra thermal power plant whose first unit is due for commissioning in the first quarter of 2009. Initial estimates suggest that the plant will generate approximately 1Mt of ash ever year once all its nine units become operational in 2011. But what causes concern is that almost an equal quantity of fly ash is likely to be... |
UAE cement prices to dip 10%18 September 2008, Published under Cement NewsCement prices in the UAE are set to decrease by five to 10 per cent following the drop in the price of diesel and a reduction in consumption, according to some industry sources. Steel prices have fallen to Dh3,800 per tonne and are expected to drop by a further Dh200 over the next 10 days. And industry experts believe these reductions, coupled with the drop in international oil prices, could lead to a reduction in the overall cost of construction. A tonne of cement now costs between Dh400 ... |
Saudi Yanbu Cement net profit down to US$84.8m 1H0818 September 2008, Published under Cement NewsSaudi cement producer Yanbu Cement Co (YCC) said its net profit declined to SAR318m (US$84.8 m) in the first half of 2008, down 14.5 per cent YoY. The earnings per share (EPS) decreased to 3.54 riyals ($0.94/0.67 euro) for January to June 2008. The company booked an operating profit of SAR320m in the first six months of 2008, a decrease of 13.04 per cent YoY. The lower operating profit was attributed to a decline in sales volumes due maintenance of some of the company’s facilities. In the... |
Coal to ease cost pressure for [Indian] cement manufacturers18 September 2008, Published under Cement NewsBL reported that the recent fall in coal prices may bring some relief to the margins of cement companies compared to the preceding quarters. Having taken cues from falling oil prices, global coal prices have corrected by 23% to US$150/t levels from the record high of US$195/t. The cement industry’s coal consumption is on a steady increase with coal accounting for nearly 15% of the total expenditure of the cement companies. With coal prices having doubled since last year, cement manufacturer... |
China’s Runji Cement’s new line achieves production targets18 September 2008, Published under Cement NewsChina Runji Cement Inc, a leading producer and distributor of cement in Anhui Province, PRC, today announces that its newly built second cement clinker line of 2500tpd has been put into production, and achieved designed standard production capacity on September 8, 2008. On August 28, 2008, Runji’s second cement clinker production line of 2500tpd was successfully put in trial production, and on September 8, 2008, the newly built second production line successfully achieved designed productio... |
Mexico says talks advance between Cemex and Caracas, Venezuela18 September 2008, Published under Cement NewsMexico said that talks between Cemex and the Venezuelan government about a price for company assets expropriated by President Hugo Chavez are advancing positively. "At this time we are in a negotiating space in which the company and Venezuelan authorities are working out the value of Cemex’s assets," Mexico’s Foreign Minister Patricia Espinosa said in a meeting with legislators. "There are indications that things are advancing in a positive way," she said. Chavez ordered the nationalizati... |
Spanish cement consumption down 18.6%18 September 2008, Published under Cement NewsIn the first eight months of the year, cement consumption in Spain fell 18.6 per cent on a year earlier to 31.2Mt. There appears to be a consensus that measures announced by the government to stimulate activity in the property sector, such as the creation of listed property investment companies, or REITs, will not be enough to breathe life into the sector. According to observers, this is because potential buyers should be the focus of assistance, not developers. |