Cement News tagged under: international
China’s cement market warms up29 April 2008, Published under Cement NewsChina’s cement price in March went up 11.94 per cent year on year and 4.67 per cent month on month despite the first quarter being the traditional off season for cement consumption, causing industry observers to predict an early onset of the peak consumption season this year. According to Digital Cement, 22 out of 30 Chinese cities and regions reported rise in cement price in March, while none reported price drop. Leading the price rises are Chongqing, Chengdu, Guangzhou, Xi’an and Changsha... |
President cites confidence of Taiheiyo cement firm in Philippines29 April 2008, Published under Cement NewsPresident Gloria Macapagal-Arroyo thanked officials of Taiheiyo Cement Philippines Inc. (TCPI) for their continued confidence in the country as shown by their decision to invest an additional P105.6 million in their Cebu cement manufacturing operations. Immediately upon her arrival here from Bogo City, where she opened the Polambato Roll-On, Roll-Off (RO-RO) Port, the President cut the ribbon of TCPI’s newly-completed Cement Silo, an 18 meter x 30 meter concrete structure that can accommoda... |
Holcim to take total control of India’s ACIL29 April 2008, Published under Cement NewsHolcim will take complete control of Ambuja Cements India Limited (ACIL) by buying the remaining 11 per cent from Ambuja Cements Ltd, a Holcim spokesman said on Monday. Holcim said the deal, worth around SwFr150m ($145.3m), would be effective from April 30. Ambuja Cements, in which Holcim owns about 46 per cent, is India’s third largest cement maker. Holcim is pursuing an aggressive takeover policy as the building materials sector consolidates and benefits from strong demand in emergin... |
Thailand’s TPI Polene 1Q08 earnings review in-line results29 April 2008, Published under Cement NewsTPIPL announced a 1Q08 net profit of Bt955mn, up 24.3% YoY and 224.6% QoQ. Stripping out FX gains from its loans of Bt399m, normalized profit was Bt556m, up 11.6% YoY and 161.6% QoQ. The improved results were attributable to the price adjustment for its chemical and cement products, and higher cement sales volume from strong seasonality for construction in the first quarter. Its 1Q08 earnings accounted for 30% of 2008 earnings forecasts. 1Q08 sales were Bt6.9bn, up 19.7% YoY and 10.9% QoQ,... |
Oman Cement Q1 profit falls29 April 2008, Published under Cement NewsOman Cement Co , the country’s biggest cement firm by market value, posted its smallest profit in five quarters, missing analysts’ forecasts, as production fell on less availability for raw materials. Its shares plunged as much as 10 per cent after it said net income in the three months to March 31 declined 19.3 per cent to OMR3.99m (US$10.36m), compared with OMR4.95m in the year-earlier period. The profit missed all three forecasts in a Reuters survey last month that ranged from OMR5.02m ... |
Italcementi consolidates its position in Kuwait29 April 2008, Published under Cement NewsAt yesterday’s annual general meeting, Italcementi announced the acquisition of two further ready-mixed concrete businesses in Kuwait for a total of approximately US$30m. These are Gulf Ready Mix, with a sales volume of some 0.20m m³ in 2007, and Al Mahaliya, which sold 0.33Mm³ last year. With an earlier finalised in March, that of Kuwait German Company for Ready Mix Concrete, Italcementi now has a share of around 15% of the Kuwaiti ready-mixed concrete market, making it the largest part... |
APCMA condemns raid, vows to lodge protest28 April 2008, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA), Chairman, Aizaz Mansoor Sheikh has said that the action of Competition Commission has sent a negative signal to the business community and shattered their confidence. In a press release issued here, the Chairman condemned the action of the Commission saying it will lodge protest at all levels of the government. The association is also seeking legal advice as regards the action to be taken against the highhandedness of those responsible... |
Cement no longer scarce but costly, Tanzania28 April 2008, Published under Cement NewsCement may no longer be a scarce product but its prices still hurts consumers, according to local press reports. Earlier, it was claimed that the shortage of cement was driving prices high, but with the problem of shortage resolved, one would have expected prices to come down. Yet they have remained unchanged. Two months ago, retail prices of cement stood at TZS14,500-15,000/50kg bag in Dar es Salaam, but latest survey shows the item now selling at TZS15,500/- and 16,000/-. In some upcoun... |
Vietnam’s US$295m Cam Pha cement plant put into operation28 April 2008, Published under Cement NewsThe Vinaconex Cam Pha Cement Plant, with a capacity of 1.89Mta, was put into operation in Quang Ninh province on April 27. The plant is the main part of the VND 4.74 trillion (US$295.50m) Cam Pha Cement Project, which has a designed capacity of 2.3Mta invested by the Vietnam Construction Import Export Joint Stock Company (Vinaconex JSC). Built on a 75 ha area in Cam Pha township, Vinaconex Cam Pha Cement Plant turned out its first batch of clinker last month. The Cam Pha Cement Project, ... |
Azerbaijan Investment Company to pay 10% equity stake in Garadagh Cement28 April 2008, Published under Cement NewsThe realisation of the agreement signed in Baku February 14 between Azerbaijan Investment Company (AIC) JSC and Holcim is nearing completion. Under the agreement AIC acquires a 10% equity stake in Garadagh Cement (GC) capital for AZN 13.7m. AIC executive director Anar Akhundov said that they are finishing the last formalities for payment of this block of shares. “I think we are going to cover our equity stake in GC for period of 5-9 years,” Akhundov said. On September 18, 2007 the Ho... |