Cement News tagged under: international
Thai TPIPL slumps, revised results show huge loss20 August 2008, Published under Cement NewsShares in TPI Polene, Thailand’s third-biggest cement firm, fell 11 per cent to a 10-year low on Wednesday after it revised its second-quarter results to show a huge loss after a provision for a court fine. Late on Tuesday the company reported a net loss of THB6.8bn (US$200m) for the April-June quarter after setting aside 6.9 billion baht for a court fine imposed in December after it was found guilty of stock manipulation in 2004. Last month the company reported a preliminary second... |
ASEC in Ethiopian purchase19 August 2008, Published under Cement NewsEgyptian company ASEC Mining (Ascom) said it was taking a 20 per cent stake in a new company that will produce cement in Ethiopia. In a statement released through the Egyptian stock exchange, it said the Ethiopian venture, in conjunction with ASEC Cement, would be the company’s first investment in cement production. It said the unnamed Ethiopian company would have a capital of $100,000 and would build and run cement plants, own limestone quarries, and export clinker and other products. |
Ambuja Cements to hike prices by INR20 a bag19 August 2008, Published under Cement NewsAmbuja Cements (ACL) has decided to raise cement prices by Rs 20 per 50kg bag in two tranches. The first hike is expected to be effective from October while the second one will come in early January. Post hike, the retail prices of cement will go up to Rs 265 per bag. When contacted, ACL managing director AL Kapur told ET, "We are unable to increase prices due to the government pressure. Our margins are under pressure due to spiralling input prices. A hike of Rs 20 per bag will help us mai... |
Holcim Romania hikes prices by 10-12%19 August 2008, Published under Cement NewsHolcim Romania has hiked cement prices by 10-12% since January, the company’s general manager Markus Wirth told a press conference Monday. Wirth added producer sale prices differ from market prices, given that certain dealers charge more in areas with high demand. The increase in cement prices is driven by the increase in costs, mainly electricity costs, Holcim said. Wirth also said the cement demand is on upward trend, mainly on the residential and infrastructure segments; therefore, ... |
Akcansa profit drops 31.5% YoY in 1H0819 August 2008, Published under Cement NewsConsolidated profit of Turkish producer Akcansa fell 31.47% YoY to TRY70m (EUR40m) in 1H08. The company’s sales in the same period rose 18% y/y to TRY 405mn, according to Akcanca financials filed with the Istanbul Stock Exchange. |
Venezuela nationalises cement industry19 August 2008, Published under Cement NewsVenezuela’s government extended its control of the economy with accords to take majority stakes in the local units of Lafarge and Holcim and by physically taking over the factories of Cemex. The government took control of the plants of Cemex, the largest producer in Venezuela, after failing to reach an agreement with the company, Energy Minister Rafael Ramirez said at a midnight ceremony at a Cemex plant in the state of Anzoategui shown on state television. President Hugo Chavez said in A... |
PCA downgrades 2008 demand forecast19 August 2008, Published under Cement NewsAn increasing unemployment rate, higher inflation, and low consumer sentiment will combine to have lingering negative effects on the US economy and, hence, on cement consumption and the construction industry. The latest Portland Cement Association (PCA) forecast of cement, concrete, and construction predicts a 12 per cent decline in cement consumption in 2008, followed by another six per cent drop in 2009. The combination of high home inventories, weak economy-wide demand conditions, and p... |
Taiwan’s Asia Cement China plants outperforming sector18 August 2008, Published under Cement NewsAsia Cement Corp is posting utilisation rates higher than the industry average for its plants in China, the Economic Daily News reported, citing the company’s head of mainland operations. The group’s China plants have a 119 pct utilization rate, the report said, with operations averaging 345 days a year, compared with 300-330 days at plants owned by competitors. Chang Tsai-hsiung, chief executive officer of Asia Cement’s Hong Kong-listed unit Asia Cement (China) Holdings Corp, was quoted a... |
Sri Lanka: resumption of KKS factory will ease cement shortage18 August 2008, Published under Cement NewsThe shortage of cement will ease in Sri Lanka as steps have been take to recommence work at the Kankesanthurai Cement factory shortly, said Minister of Construction and Engineering Services Dr. Rajitha Senaratne. He was speaking at the inauguration the ‘Construct’ Exhibition 2008 on Friday at the BMICH. “There will be sufficient cement in the country and the possibility of exporting to the Maldives and other countries in the region could be looked into”, Dr. Senaratne said. A program has ... |
Indian cement makers’ woes to continue till monsoon ends18 August 2008, Published under Cement NewsEven as the agreed moratorium has come to an end, the woes of cement industry is likely to continue till the end of the monsoon as it finds difficult to pass on the raw material costs to consumers due to slackening in demand. "Forget about hiking price. Cement makers have actually reduced price by Rs 3-5 per 50 kg bag in the northern and western markets. This is because of poor demand. They will have to wait till sales pick up after the monsoon," an industry official said. Monsoon usually ... |