Cement News tagged under: international
Sichuan’s cement sector over-invested following quake07 August 2008, Published under Cement NewsThe China Cement Industry Association (CCIA) has warned that overinvestment in Sichuan province’s cement industry to meet a short-term rebuilding need following May’s 8.0 magnitude earthquake could lead to an oversupply of cement in the long term, the China Securities Journal reported. According to a report by the association, demand for cement in the province is expected to hit 98.9Mt this year, 101.93Mt in 2009 and 90.6 million tons in 2010. However, local capacity will mean a 40Mta sh... |
Vulcan’s aggregate prices continue to rise07 August 2008, Published under Cement NewsThanks to the initial consolidation of Florida Rock, Vulcan Materials’ first half turnover increased by 20.8 per cent to US$1,737.7m. The EBITDA did improve by 3.9 per cent to US$498.8m, but the pre-tax profit dropped by 34.1 per cent to US$226.0m. Capital investment in the period increased by 4.8 per cent to US$246.0m. The turnover from aggregates increased by 4.4 per cent to US$1,215.3m, but the tonnage declined by 5.3 per cent to 95.52Mt (105.29Mst) as the average price increased by 8.3... |
Cemex explores sale of certain Australian assets07 August 2008, Published under Cement NewsCemex announced today that it is exploring the sale of certain assets in Australia. The proceeds from the potential asset sale will be used for debt reduction. The assets being considered for sale operate under the Humes brand name and consist of 16 concrete pipes and products manufacturing facilities located throughout Australia. Humes sold over 580,000t of product in 2007, generating revenues of approximately A$255m (US$234m). Cemex has mandated Merrill Lynch as its financial advisor... |
HeidelbergCement affected by US and British housing06 August 2008, Published under Cement NewsHelped by the consolidation of Hanson, HeidelbergCement’s turnover first half rose by 66.5% to EUR6927.7m and the EBITDA increased by 45.8% to EUR1276.5m. The trading profit improved by 36.8% to EUR887.7m, but after a 234.6% increase in the net interest charge EUR372.3m, the pre-tax profit dropped by 60.5% to EUR578.8m. Net debt at the end of June stood at EUR12,389m to giving a gearing level of 144.2%, down from 193.4% at the year-end. Capital expenditure in six months amounted to EUR452m... |
India sees slowdown in cement consumption06 August 2008, Published under Cement NewsThe Indian cement industry is expecting a slowdown with the GDP growth rate on a slippery path yet over 70Mt of fresh capacities in the pipeline over the next two years. The industry added capacity worth 30Mt in FY08 and is estimated to add 45Mt and 30Mt in FY09 and FY10 respectively. Top industry players have voiced concerns regarding production growth rates and slowing consumption. “As substantial capacity is being build, there will be losses. The consumption growth will not be equally r... |
Taiwanese factory thrives in central Vietnam06 August 2008, Published under Cement NewsA wholly Taiwanese-owned cement factory in Vietnam’s central Thua Thien-Hue province has been allowed to raise its total capacity to 4Mta. The factory will invest US$130m in assembling a 5000tpd production line to reach the target. The factory’s products, named Kim Dinh, were sold throughout provinces and cities from the central Quang Binh province to Ho Chi Minh City. These products were mostly used for transportation and irrigational works and sold well in central provinces as well as i... |
Holcim US announces Nevada mining rights option05 August 2008, Published under Cement NewsHolcim (US) announced it has acquired a long term lease option to the mining rights on a 1760-acre site located in Clark County, Nevada situated 40 miles east of Las Vegas. Holcim will soon begin the testing process to confirm the viability of the limestone reserves as raw material for cement production. "This site has the potential to significantly increase Holcim’s cement production in the area and support the future growth of the Nevada and Utah markets," said Paul Harrington, Senior Vi... |
Turkish investors intends to construct plant in Saratov region05 August 2008, Published under Cement NewsRepresentatives of Turkish company Yurt Chemento Phanan ve Tidgaret A.S. have addressed Saratov region’s authorities to inform them of their intention to construct a cement plant in Volskiy district. Aslan Yaman, the company’s vice-president, has met Minister of investment policy Kirill Semenov. The plant isi expected to have a cement capacity of 1.5Mta and will be constructed on the right bank of Volga near Rybnoye. |
Barbados cement firms unlikely to hike prices05 August 2008, Published under Cement NewsBS reported that Indian cement majors, which had agreed in May to hold prices for three months to help the government contain inflation, could find it difficult to raise rates when the moratorium ends on August 14th 2008. Top producers say the current market condition is not buoyant enough to absorb a price hike. This means the cement industry may have to continue absorbing the input cost for a major period of the current quarter. Mr AL Kapur MD of Ambuja Cements said that "I would want pr... |
Ash Grove Cement buys Holliday Sand05 August 2008, Published under Cement NewsAsh Grove Cement Co bought Holliday Sand & Gravel Co. for an undisclosed price, Ash Grove announced Monday. Overland Park-based Ash Grove called its purchase of Lenexa-based Holliday Sand & Gravel a strategic deal, expanding Ash Grove’s Midwest market presence and offering “significant long-term” sand and gravel reserves throughout the region. “This acquisition complements Ash Grove’s existing operations and will strengthen our market position as the leading supplier of cement and other bu... |