Cement News tagged under: international
Namibia cement project advances19 May 2008, Published under Cement NewsThe joint venture cement project at Sargberg in the Otavi district recently entered its final phase before actual construction, after the government issued an Environmental Clearance certificate. Ohorongo Cement is a joint venture project between Schwenk Namibia and the Namibia Investor Group to explore and mine a limestone deposit 17km north east of Otavi. The project was announced last year. Ohorongo Cement, which is expected to be completed at an estimated N$1.2 billion, acquired its EPL ... |
China cement industry to raise prices16 May 2008, Published under Cement NewsChina’s cement industry plans to lift prices for the fourth time in the October to December period, 2008 as a result of eliminating 600Mt of backward production capacity and increasing industrial concentration, China Securities Journal reported. Guo Jingbin, executive director of Anhui CONCH cement Co., Ltd, said that the company has lifted the price three times this year. The price went up 9.25 per cent year on year in the first quarter and up 8-10 per cent quarter on quarter in the second... |
Taiwan’s Asia Cement plans HK$400m in China acquisitions16 May 2008, Published under Cement NewsAsia Cement Corp is ready to invest some HK$400m to acquire cement companies based in China, the Commercial Times reported, citing a company official. The funds will come from proceeds of an initial public offering by unit Asia Cement (China) Holdings (743.HK) in Hong Kong, the official said. The report said Asia Cement (China) is selling 375m shares, at HK$4.95 each, and will start trading on May 20. Including a greenshoe option of 56.25m shares, the IPO is expected to raise HK$2.13bn. ... |
Buzzi Unicem expands in Texas16 May 2008, Published under Cement NewsAlamo Cement Company, a wholly owned subsidiary of Buzzi Unicem, is in the process of acquiring a 50% stake in Dorsett Bros. Concrete Supply of Houston, Texas. Dorsett Brothers, which was established in 1977, operates 19 batching plants and seven plants for stabilised materials in Texas, principally in the Houston / Galveston area. Last year, the business generated a turnover of US$108m from selling 1Mm³ of ready-mixed concrete and 0.65Mt of stabilised materials. Alamo Cement, which ha... |
Lafarge Malayan Cement reports 13.2% lift in pre-tax profit16 May 2008, Published under Cement NewsLafarge Malayan Cement Berhad on Thursday reported first quarter pre-tax profit of RM66.293 million (US$20.7 m), an increase of 13.2 per cent YoY thanks to higher domestic sales. For the three months ended 31 March 2008, its revenue rose 10.1 per cent to RM559.607 million from RM508.277 million for the same period a year earlier, it said in a filing to Bursa Malaysia on May 15. Its earnings per share surged to 7.30 sen from 3.20 sen previously. It said the higher profit was mainly due ... |
Indocement Prepares IDR6.71trn for expansion15 May 2008, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk is going to spend US$608m-US$730m or IDR5.59 trillion- IDR6.71 trillion for the next four years to develop cement plant. President Director of Indocement Daniel Lavalle said the company would keep boosting production capacity and prioritize the domestic market than the export one. According to him, the increase in production capacity would also increase the company’s margin. "The surge in domestic cement consumption compels Indocement to improve its pla... |
Adelaide Brighton forecasts profit growth of 9.7 per cent15 May 2008, Published under Cement NewsAdelaide Brighton Ltd has forecast full year profit growth of nearly 10 per cent as infrastructure and engineering projects spur demand for construction materials. The rosy outlook for 9.7 per cent earnings growth sent shares in the cement and lime supplier more than four per cent higher to its strongest level in a month. Managing director Mark Chellew said the company expected earnings this calendar year to improve to between $118m and $125m, compared with $113.9m in 2007. "Cement de... |
Cementir’s weak first quarter15 May 2008, Published under Cement NewsCementir’s first quarter turnover increased by 3.2% to EUR245.1m in 2007. Harsher weather conditions, particularly in Scandinavia, the temporary closure of the Edirne works in Turkey to allow for the capacity expansion and higher energy costs as well as the situation in the Italian ready-mixed concrete market, combined to reduce the EBITDA by 13.2% to EUR38.7m. The effect of these negative factors was more accentuated at the trading level, where there was a 26.2% decline to EUR20.3m. Highe... |
Lafarge buys leading Indian concrete producer15 May 2008, Published under Cement NewsLafarge is paying EUR226m to acquire L&T Concrete from the Indian engineering group Larsen & Toubro. When Larsen & Toubro sold its cement business to Birla in 2003, who renamed it UltraTech Cement, the engineering group kept the ready-mixed concrete business. L&T Concrete is the largest producer of ready-mixed concrete in the rapidly growing Indian market. At present, only about 3% of the Indian cement consumption goes into ready-mixed concrete. The business currently operates 66 ba... |
UK: Cemex makes recycling pallet-able15 May 2008, Published under Cement News |