Cement News tagged under: international
Taiheiyo Cement’s US profit may fall as much as 20%23 April 2008, Published under Cement NewsTaiheiyo Cement Corp., Japan’s biggest producer, said profit at the U.S. unit may fall as much as 20 percent this year "in a worst-case scenario". Operating profit at the US unit, which accounts for a third of the Tokyo-based company’s earnings, may decline from last year’s $180m, said President Keiji Tokuue, adding that the unit can at best match 2007’s result. Taiheiyo is scheduled to report fiscal annual earnings on May 13. "`We’re caught in the turbulence of the U.S. market,’’ said Tok... |
Indonesia Rajawali considers selling Gresik stake23 April 2008, Published under Cement NewsThe Rajawali Group is considering selling its 24.9 per cent stake in PT Semen Gresik hoping to earn a gain after two years investing in the country’s largest cement maker. Rajawali has selected a number of foreign investment banks to become its financial advisors in the divestment plan, an industrial source told the newspaper Bisnis Indonesia. Rajawali paid US$336.7m to former shareholder Cemex Asia Holding for the stake in July 2006. |
Ultratech FY net profit up on revenues23 April 2008, Published under Cement NewsUltratech Cement Ltd. reported a higher full-year net profit and said continuous government intervention has resulted in an uncertain price environment, which together with a significant increase in input costs will have an adverse impact on its margins in the current year. For the year to March, net profit rose to INR10.08bn from INR7.82bn last year, while revenues, including sales, rose to 55.09 billion rupees from INR49.11bn. Overall cement demand in the country is expected to grow by n... |
ACC inaugurates new 6,000tpd clinker line at Ramliya, Egypt23 April 2008, Published under Cement NewsArabian Cement Company (ACC) inaugurated its new 2Mta greenfield clinker plant in Ramliya, Egypt. ACC is a joint venture between Cementos La Union of Valencia, Spain and local Egyptian partners. The event was attended by the Ambassador of Spain in Egypt, Mr Antonio Lopez, the Consellera Industria de Valencia, Mrs Belen Juste Picon, as well as senior management from CLU and ACC, and delegates from Egypt, Spain and the UK. The plant represents an investment of US$180m and was built under full... |
China National Building Material to double cement production capacity22 April 2008, Published under Cement NewsChina National Building Material Company Limited (CNBM) plans RMB13.8bn expenses for cement plants and will double cement production capacity to 186Mt in 2008, up from 60Mt in 2007. CEO Cao Jianglin reveals the company plans RMB14.6 billion of capital expenditure in 2008 and 95% will be allocated for acquiring cement plants. The company will develop up to 90 cement plants by the end of June 2008, becoming the second largest cement producer in the world and a major player in China. Cao fo... |
Saudi Arabia’s Cement production expands 17% in 1Q22 April 2008, Published under Cement NewsSaudi Arabia’s cement production expanded 17 per cent in the first quarter as demand for building materials increased in the kingdom, the largest economy in the Middle East. Saudi cement companies produced 8.4Mt of cement in the first quarter, which included new supplies from two factories, according to Jeddah-based National Commercial Bank, the kingdom’s largest bank by assets, in a research note received by e-mail today. Cement production in 2007 increased 12 per cent to 30.2Mt, while l... |
Andhra asks cement cos to check prices22 April 2008, Published under Cement NewsWithin four months of the Tamil Nadu government’s intervention to control cement prices, Andhra Pradesh has asked cement companies to check prices and keep them at Rs200 per 50kg bag. This price tag is below than the current national average, which is Rs220-230 per bag. Top officials in the cement industry said any such artificial restrictions would be unfair and harmful for the industry. Andhra Pradesh, which houses the maximum capacity of around 30Mt, has not seen much rise in cement ra... |
Binani investment plans both home and away22 April 2008, Published under Cement NewsBinani Cement said it would double its capacity to 12Mta by 2012. “We are looking at both organic and inorganic routes to double our capacity to 1Mta by 2012. This will require investment to the tune of INR2000 crore,” the company’s deputy managing director Vinod Juneja said. Binani Cement, he said, would contruct a 2Mta greenfield plant near the coastal Gujarat with an investment of INR800 crore. “We will invest around Rs 350 crore from our own (resources) in the proposed plant,” Ju... |
DJ Anhui Conch Cement 1Q net profit CNY449.6m22 April 2008, Published under Cement NewsAnhui Conch Cement Co, China’s largest cement producer by output, said Monday its first-quarter net profit doubled from a year earlier on an expansion in its production capacity and a higher average selling price. The company said in a statement its net profit in the three months ended March 31 was CNY449.6m, up 99% from the same period last year, under Chinese accounting standards. The Hong Kong- and Shanghai-listed company said its first-quarter revenue rose 27% from a year earlier to ... |
Cemex 1Q net profit up 18% to US$470m22 April 2008, Published under Cement NewsCemex said its net profit rose 18% in the first quarter to $470 million, helped by financial gains, while sales were boosted by the acquisition last year of Australia’s Rinker. Cemex said its sales last quarter grew 26% to $5.4bn. "The integration of Rinker and better supply-demand dynamics in most of our markets contributed to higher sales," Cemex said. EBITDA, rose 10% from the year-ago period to $951 million. Operating profit fell 17%, however, to $461 million. Cemex said it face... |