Cement News tagged under: international
Russia backs tariff-free cement imports to Oct ’0922 August 2008, Published under Cement NewsThe Russian government has called for tariff-free imports of cement to continue for a year until October 2009, ignoring the complaints of local producers as the country grapples with rampant inflation. Russian cement firms, notably market leader Eurocement, have said they are rapidly losing market share as foreign suppliers, mostly from Turkey, have flooded the market after a five per cent import tariff was lifted for nine months as of January. "Things are going to get really hard for us a... |
FLSmidth increases estimates on new capacity orders in 200822 August 2008, Published under Cement NewsFLS, the world’s largest manufacturer of cement plants, earlier today increased its estimate of the amount of new annual cement capacity that will be ordered in 2008, outside of China. It now expects 150Mt of new capacity to be ordered. Previously it had been forecasting 125-150Mt (reports JP Morgan analysts). FLS estimates that 30% of the cement capacity ordered so far in 2008 was for Africa, 25% for India, 13% for Europe, 11% for the Rest of Asia and 10% for Russia. The main change th... |
ABG International to set up plant in MP21 August 2008, Published under Cement NewsABG International, which has a 56.16% promoter stake in ABG Shipyard, is setting up cement capacities totalling 4.6Mt in Gujarat, that should be commissioned in two years, via the unlisted ABG Cement. Analysts said it was possibly for the first time in the history of India Inc, that a group focussed on the shipping sector was expanding into the cement sector. Also, in a strategy that has been employed for more than a decade by Ambuja Cement, ABG Cement plans to leverage its group synergies ... |
Ash Grove buys stake in Eagle Materials21 August 2008, Published under Cement NewsAsh Grove Cement Co. of Overland Park has taken a five per cent stake in Eagle Materials Inc. Dallas-based Eagle Materials also provides recycled paperboard and aggregates. A filing with the Securities and Exchange Commission said Ash Grove, one of the largest cement manufacturers in North America, spent $53.5m for 2.2m shares of stock. |
Ash Grove buys stake in Eagle Materials21 August 2008, Published under Cement NewsAsh Grove Cement Co of Overland Park has taken a five per cent stake in Eagle Materials Inc. Dallas-based Eagle Materials also provides recycled paperboard and aggregates. A filing with the Securities and Exchange Commission said Ash Grove, one of the largest cement manufacturers in North America, spent $53.5m for 2.2m shares of stock. |
Record half-year for AdBri21 August 2008, Published under Cement NewsIncreased demand for cement has helped Adelaide Brighton to a record half-year profit of almost $48m, a rise of seven per cent on the previous corresponding period. Adelaide Brighton says cement sales grew in all its main markets, resulting in a 10 per cent increase in volume. The company’s lime sales grew by eight per cent. The company says a record profit was achieved despite $4.5mof higher maintenance costs, due to a shutdown of its Birkenhead plant in Adelaide. Adelaide Brighton ... |
Cemex looks to regain assets21 August 2008, Published under Cement NewsCemex said yesterday it could turn to international arbitration to resolve a dispute with Venezuela’s government, which seized the company’s unit there in a nationalisation drive. "It’s one of several [options]," said Rodrigo Trevino, Cemex chief financial officer. Hugo Chavez, the Venezuelan President, took over plants owned by Cemex, the world’s No. 3 cement maker, on Monday as part of his bid to run key industries in the South American oil-producing nation. Cemex, unlike European riva... |
Holcim 1H Net profit down 56% on items; cuts guidance21 August 2008, Published under Cement NewsHolcim lowered its full-year outlook after reporting a 56% decrease in first-half net profit on special factors, high raw material costs and currency-exchange rate effects. The company said it is maintaining a long-term target of 5% EBITDA, but didn’t repeat that target for the whole of 2008. This year, the company said it is aiming to match the level of operating EBITDA posted in 2007 on a like-for-like basis. Net profit for the six-months ended June 30 declined to SwFr1.07bn ($982m... |
Malaysia: ‘Govt should further explain cement liberalisation’20 August 2008, Published under Cement NewsThe Masters Builders Association of Malaysia (MBAM) has welcomed the suggestion that the government needs to further explain to market players about the approval process for liberalisation of cement and steel products. This is because contractors are still finding it difficult to import steel bars even after the liberalisation of steel products from May 12, it said in a statement Tuesday. The association said several thousand metric tonnes of steel bars are stranded in Johor Causeway becau... |
’We’re determined to maintain 30 per cent profit margins’20 August 2008, Published under Cement NewsGovernment-directed prices, rising fuel and freight costs have severely impacted the cement industry’s prospects after more than four profitable years. The industry’s average margin has reduced to a little over 20 per cent as compared with 40 per cent a year ago. In a tête-à-tête with Chandan Kishore Kant, the country’s third largest cement-maker Ambuja Cements’ 73-year-old managing director, A L Kapur, says he is determined to maintain his company’s 30 per cent margins. How do yo... |