Cement News tagged under: international
Federal Government of Nigeria grants five import licences17 June 2008, Published under Cement NewsThe Federal Government yesterday granted six firms new permits to import and produce cement locally. The allocations allow the firms to import bagged cement into the country, in the short-tern, and, in the medium, begin local production. The companies include Minaj Holdings Limited, Enugu, owned by Senator Mike Ajegbo; Made Well Products, Sapele, promoted by Mr. David Iweda and Bua International Limited, Kano, owned by Isiaku Rabiu. Others are NICA Limited, Maiduguri promoted by Alhaji Has... |
Spain cement sales fall on rain, housing crisis17 June 2008, Published under Cement NewsSales of cement in Spain fell 12.4 per cent from January to May after one of the wettest springs in memory further sapped sales already hurt by a sharp slowdown in the housing sector, figures showed on Monday. Spain is the European Union’s biggest consumer of cement and the fifth biggest in the world, thanks to a decade-long house building boom. Last year the country built more than 600,000 homes, equivalent to the combined output of Britain, Germany and Italy. In May alone, cement sales... |
Cemex provides guidance for second quarter 200817 June 2008, Published under Cement NewsCemex announced today that it expects EBITDA for the quarter ending June 30, 2008 to be close to US$1.4bn, an increase of about 23% versus the same period last year, while operating income is expected to be about US$960m, 19% higher than the same period a year ago. Sales for the second quarter are expected to be in excess of US$6.4bn, an increase of about 31% versus the same period last year. For the first six months of the year, CEMEX expects EBITDA of about US$2.3bn, while revenue is expect... |
Pakistani cement ‘highest taxed worldwide’16 June 2008, Published under Cement NewsAizaz Mansoor Sheikh, Chairman, All Pakistan Cement Manufacturers Association, has said that the increase in taxes has made Pakistani cement highest taxed cement in the world. Excise duty has been increased from Rs 750 per ton to Rs 900 per ton, along with additional excise duty at one per cent, he said. Increase of general sales tax from 15 per cent to 16 per cent has increased the menace of double taxation as general sales tax is charged on excise duty paid value, he said. "We urge the go... |
BNP Paribas in US$40m cement loan16 June 2008, Published under Cement NewsQatar National Cement Company said it has signed a loan agreement with BNP Paribas for a term loan of US$40m to cover the remaining cost for parts of Plant 4 and other projects in progress. The cement company is 43 per cent owned by the government of Qatar, 1.3 per cent by Qatar Insurance Company, with the rest, amount to 55.7 per cent, publicly held. It is listed on the Doha Securities Market where it currently sells for QR 157.40, up 3.83 per cent from Thursday. It owns 33 per cent of a g... |
Ciments Francais President, COO Resigns16 June 2008, Published under Cement NewsFrench cement company Ciments Francais, a unit of Italy’s Italcementi SpA, Monday said its president and Chief operating officer Rodolfo Danielli has resigned. |
Lifeline for new cement factory, Bahrain16 June 2008, Published under Cement NewsInvestors of a new cement factory in Hidd have been thrown a lifeline after councillors agreed to reconsider a decision taken nine months ago to reject it. Its fate now depends on an environment impact assessment report, which the Muharraq Municipal Council has asked the Public Commission for the Protection of Marine Resources, Environment and Wildlife to conduct. The factory is being built in the Hidd Industrial Area, over which the Industry and Commerce Ministry said in September it has s... |
Cement and steel costs to come down, Kenya16 June 2008, Published under Cement NewsFinance minister, Amos Kimunya has proposed a raft of measures aimed at bringing down the cost of construction materials. The minister proposed the reduction of import duty payable on cement from 40 per cent to 25 per cent, a decision welcomed by key movers in the sector. "This is a step in the right direction as it will check the ever rising prices of cement," said Mr Wilberforce Oundo, the chief executive of Regent Management Limited, a real estate firm. According to the Economic Survey... |
India’s Binani Cement to invest in China plant16 June 2008, Published under Cement NewsBinani Cement Ltd of India plans to invest US$100m more into the Chinese cement company Shandong Rong’an Group, in which it bought a 49% stake for US$110m in July 2007, sources reported. Binani was said to intent to tap the debt market for funding the China venture. Though holding a minority stake, Binani is given the right for management control, and it aims to rise its holding in the venture to 70% by September and to enhance the company’s capacity to 2.2 million tones per year in the ne... |
Suez Cement supports the National Project for Housing16 June 2008, Published under Cement NewsAs part of its social responsibility strategy, today Suez Cement representatives signed a Memorandum of Understanding with the Minister of Housing, H.E. Eng. Ahmed el- Maghraby. Under this Memorandum Suez Cement will support the National Project for Housing by donating 50,000t of cement and sell additional 150,000t of cement ex-work price. "Suez Cement is very proud to be a partner in community-building and support the noble governmental efforts aiming to guarantee all people the right to ... |