Cement News tagged under: international
Plantation, mining booms give cement market a boost28 April 2008, Published under Cement NewsThe cement market grew 17 per cent in the first quarter, with eastern parts of the country recording the highest growth, a business executive says. PT Semen Gresik Tbk corporate secretary Sunardi said sales growth reached 36 per cent in Indonesia’s eastern regions, including Maluku and Papua, during the first three months of the year, while markets in Sulawesi and Nusa Tenggara grew 28 per cent. "For several years, the highest sales growth has not been in Java, but rather in eastern Indone... |
Philippine cement prices up PHP828 April 2008, Published under Cement NewsCement prices have risen by at least PHP8 per bag following the recent increase in the prices of coal in the world market, particularly in Indonesia, Vietnam and Australia. Holcim Philippines Inc., considered to be the largest of the country’s six cement companies, reportedly now buys coal at $85 to $100 per ton, compared to only $38 per ton late last year. “So, we have no choice but to increase the prices of our cement because of the over 200 percent increase in the prices of coal,” a com... |
Colombia Cementos Argos seeks acquisition targets in US28 April 2008, Published under Cement NewsColombia’s largest cement maker, Cementos Argos SA, is seeking new acquisitions in the US, chief executive Luis Alberto Velez said Friday in a conference call. "We are looking at opportunities in the US to consolidate our presence," Velez told investors and analysts during a conference call. Cementos Argos may try to take advantage of the trouble facing some of the company’s US rivals amid a construction-industry slump there, said Rupert Stebbings, a Medellin-based analyst with local bro... |
Ambuja Cements 1Q08 net slips 42 per cent28 April 2008, Published under Cement NewsLeading cement maker Ambuja Cements’ net profit has dipped by 42 per cent to Rs 326 crore in the first quarter of FY 2008 compared to Rs 566.25 crore in the year-ago period owing to higher operating costs and indirect tax burden. "The company is facing an unprecedented increase in major operating costs, in particular for coal, power, raw materials and logistics, and a higher indirect tax burden due to a slew of fiscal impositions by state and central governments," the company’s Managing Di... |
Russia’s Basic Element mulls purchase of plants in China28 April 2008, Published under Cement NewsBaselCement, which manages the cement business of Oleg Deripaska’s Basic Element (BasEl), is considering the possibility of acquiring cement plants in China, said Douglas Land, the co-chief of the holding’s construction sector. Cement production in China is much cheaper than in Russia and the purchase of a plant could help in resolving the issue of price, he said. It is more advantageous to ship prepared cement to Russia than it is to produce it here, he said. The company is also conside... |
GCC: profit down 41.8% in 1Q0825 April 2008, Published under Cement NewsMexican cement maker Grupo Cementos de Chihuahua (GCC) reported a 41.8% fall in profits to MXP167m (US$15.9mn) in the first quarter of 2008, compared to MXP288m in the same period of 2007. Although the company did not refer to the results directly in its quarterly report, the income statement shows a plunge in sales and operating income, as well as a 79% rise in financing costs. GCC’s financing costs went up to 55mn pesos in the first quarter of this year, compared to MXP31m in the 2007 p... |
Colombia’s Cementos Argos mulls sale of coal mine assets25 April 2008, Published under Cement NewsThe board of Colombia’s largest cement maker, Cementos Argos SA, authorised the company’s management to hire the investment banking unit of Bancolombia SA (CIB), the country’s largest bank, and Credit Suisse (CS) to evaluate the sale of its coal assets, it said Thursday in a filing to the stock and bond regulator. The company’s board decided to hire the two banks "to evaluate the convenience to sell or not some of the assets related to the coal industry," the statement said. It added tha... |
ACC, Ambuja Cement merger ruled out25 April 2008, Published under Cement NewsPutting to rest speculation about a merger of ACC and Ambuja Cement, the managing director of ACC has ruled out any such possibility. "There are no plans of merger," Sumit Banerjee, managing director of ACC told DNA Money on Thursday. There has been market speculation that ACC and Gujarat Ambuja will be merged to compete better in the cement sector, which is becoming increasing consolidated. Holcim controls both ACC and Ambuja Cement. |
Ambuja Cements aims to double capacity in five years25 April 2008, Published under Cement NewsAmbuja Cements, a part of the Holcim group, is planning to double its capacity to 35Mt in the next five years. The country’s second largest cement maker is already in the process of expanding its capacity. At a time when other comparatively smaller players were doubling and even tripling their capacities in the next few years, it was crucial for Ambuja to maintain its presence in the domestic market, said a company official. “In another two years, we will have a capacity of 27Mt. Two yea... |
Indonesia’s Gresik posts 38 per cent rise in net profit25 April 2008, Published under Cement NewsThe net profit of state-owned cement maker PT Semen Gresik shot up 38% to Rp455.29bn (US$50m) in the first quarter of this year, from Rp329.92bn in the same period last year. The country’s largest cement producer recorded Rp2.52 trillion in income in the three-month period, up 20% year-on-year, on larger sales and price hike, the newspaper Bisnis Indonesia reported. The paper quoted company sources as attributing the increase in its sales to growing property sector and brisk development ... |