Cement News tagged under: international
Cement prices to rise in some parts of India02 July 2008, Published under Cement NewsCement prices are likely to go up by Rs3 per bag in Mumbai, Gujarat and the southern markets from Monday. Other markets in the country are expected to follow suit later. This is a rare development as cement prices usually go down in the rainy season. Cement makers attribute the hike to rising raw material prices and higher transportation costs. The cement makers have increased prices by 4% in the past one year, with the last hike coming five months ago. In Mumbai, a 50-kg bag of cement now... |
CRH spends EUR740m on first half acquisitions02 July 2008, Published under Cement NewsCRH has spent EUR740m in the year to date on acquisitions and is indicating a pre-tax profit for the first six months of around EUR600m, compared with EUR670m last year. For the full year, CRH is currently expecting a pre-tax decline in high single figures after a 15 years of consecutive profit and earnings growth, with the falling dollar reducing profits by around EUR80m. In heavy building materials, a strong start in Poland and the Ukraine and some recovery in Portugal have more than c... |
Holcim Romania to boost production by 30 per cent01 July 2008, Published under Cement NewsThe Romanian unit of Swiss cement producer Holcim said it has recently completed a EUR120m project to modernise its cement plant in Campulung, southern Romania, which increased its total production capacity by 30 per cent, the company said on June 30, 2008. The company plans to invest an additional EUR75m to further optimise its production, CEO Markus Wirth said. Holcim Romania targets to boost its turnover by up to 20 per cent on the year in 2008, from 990m Romanian lei (EUR271.2m) in 2... |
Gresik fires Rizal Ramli over alleged link to violent protests01 July 2008, Published under Cement NewsThe shareholders of state-owned cement producer PT Semen Gresik have fired president commissioner Rizal Ramli, following news he was allegedly involved in masterminding a student rally over fuel price rises that led to a riot. At a meeting on Friday shareholders concluded that Rizal, who was coordinating minister for the economy during President Abdurrahman Wahid’s administration, was guilty of "ethical violations and unprofessional conduct". In a brief statement after the meeting, preside... |
Credit crunch slows India expansion plans01 July 2008, Published under Cement NewsCostlier raw material and tight credit conditions have slowed down Indian cement companies’ ambitious Rs50,000 crore expansion plan to add 80-90 million tonnes capacity in three years. Adverse economic factors and problems in land acquisition have made expansion almost impossible, industry officials told ET. Some of them said they will be happy if even half of the proposed expansion goes through. Holcim executive committee member Paul Hugentobler told ET that “not many companies who had an... |
EIB loan for Derba Midroc cement factory, Ethiopia01 July 2008, Published under Cement NewsDerba Midroc Cement company (DMC) in Ethiopia has benefited from a EUR29m loan from the European Investment Bank (EIB). The loan to this private sector company will help to build and operate a 2.1Mt cement factory, an adjacent limestone quarry and other related infrastructure in the area. The project will contribute to Ethiopia’s economic growth and the reduction of unemployment in the country. The DMC cement plant is located in Derba, about 70km South of Addis Ababa, a region with limited ... |
Lafarge’s valuation trimmed on likely slowing demand01 July 2008, Published under Cement NewsAseambankers Equity Research has adjusted its price target for Lafarge Malayan Cement Bhd given a cloudy outlook on demand despite higher selling prices of cement. The target price was revised down to RM4.50 from RM4.80 to reflect the clouded outlook for overall demand amid competitive pricing, it said in a research note yesterday. The new target price pegged Lafarge’s valuation at CY09 price to earnings of 12 times, down from 13 times previously. Aseambankers said it has lowered the v... |
Anil Singhvi to set up cement business at Reliance Natural30 June 2008, Published under Cement NewsAnil Singhvi, former managing director of Ambuja Cements, has joined Anil Ambani’s Reliance Natural Resources (RNRL) as its vice-chairman. Mr Singhvi, who was working with Notz Stuck as a partner for the past one year after leaving Ambuja Cements, will also help the group set up its cement business. Mr Singhvi confirmed the development to ET, but declined to share details about the group’s plans in the cement sector. The four-member RNRL board comprises Anil Ambani (chairman) and three d... |
Holcim to establish training facility in Switzerland30 June 2008, Published under Cement NewsHolcim said it has commissioned a new training centre in the Swiss town of Holderbank. Comprising research laboratories, additional office space and a generously sized training center, the 15,000m2 building complex will allow the Group to increase its current workforce in Holderbank to more than 800 from 550. The company will invite several architects both from within and outside Switzerland to tender studies. The project selected by an international jury is to be presented to the author... |
Brazil: Votorantim expands cement distribution30 June 2008, Published under Cement NewsVotorantim Cimentos, engaged in a BRL $2bil cement capacity expansion investment to add 8Mta by 2010, is also looking to expand and modernise its distribution ring in Brazil. Plans include 10 new distribution centers until mid 2009 investing BRL$50m; in 2007 it has set up 10 units and other five so far in 2008, the last facility just dedicated at Campinas (Sao Paulo) with investments of BRL$6m. Since mid 2007 Votorantim has added 2Mta to its capacity of 25Mta and logistics market Fred J... |