Cement News tagged under: international
Prosperity Minerals Q3 pretax up 67 per cent; sees full year results in line15 April 2008, Published under Cement NewsProsperity Minerals Holdings Ltd. reported a 67 per cent higher third-quarter pretax profit on a 120 per cent rise in revenues and said that it expects its full year results to be in line with market expectations. The China-based cement and iron ore business posted a pretax profit of US$25.5m for the three months to Dec. 31, 2007, compared with US$15.3m in the comparative quarter of 2006, on revenues of US$174.8m compared with US$79.3m. For the nine-month period to Dec. 31, 2007, Prosperit... |
Indonesia’s March cement consumption up 15.4 per cent14 April 2008, Published under Cement NewsIndonesia’s domestic cement consumption rose 15.4 per cent to 2.99Mt in March from a year ago, the country’s largest cement maker, PT Semen Gresik , said on Monday. Semen Gresik also said its cement sales jumped by 19 per cent to 1.34Mt helped by strong sales of its unit in Sulawesi, Semen Tonasa, and a 20 per cent rise in its main market in Java. The March sales took first-quarter domestic cement consumption to 8.78Mt, up 16.8 per cent from the year-ago period, while Gresik’s domestic s... |
Federal government okays cement imports for Sabah and Sarawak, Malaysia14 April 2008, Published under Cement NewsThe federal government has agreed to issue import licences (APs) for cement to the Sabah Housing & Real Estate Developers Association (SHAREDA) and its Sarawak counterpart SHEDA to overcome the shortage of the material in the two states. Announcing this today, Deputy International Trade & Industry Minister Datuk Liew Vui Keong said the move takes effect immediately. Member companies need to apply through the associations, and the validity of the APs is until Dec 31, with any need for the... |
Saudi Southern Cement Q1 profit surges on new plant14 April 2008, Published under Cement NewsSouthern Province Cement Co posted a 47.8 per cent rise in first-quarter net profit after the launch of a new unit amid strong demand. Southern Cement made a net profit of SAR235m, or 1.68 riyals per share, in the three months to March 31, 2008 against SR159m, or 1.16 riyals per share, in the year-earlier period, it said in a statement posted on the bourse’s Web site. "The rise in net profit stemmed from increase in sales and production," it said, adding that it started operating a third... |
GHACEM to transport cement by rail14 April 2008, Published under Cement NewsGhacem is to transport an estimated 600,000tpa of cement through the Ghana Railway Company Limited (GRCL). A delegation from GHACEM, including Dr. George Dawson-Ahmoah, the Strategy and Corporate Affairs Director and Mr. Eric Westerberg, the Commercial Director, made this known at a meeting with the Minister of Harbours and Railways, Professor Christopher Ameyaw-Akumfi in Accra on Thursday. The delegation said the transportation of cement by rail would "significantly reduce" the price of th... |
Analysts: Cemex to negotiate total exit14 April 2008, Published under Cement NewsCement industry analysts expect that Cemex will negotiate its total exit from Venezuela amidst the nationalisation drive launched by President Hugo Chávez on April 4, paper El Norte reported. Venezuela’s nationalisation program aims to control 60% of the local assets of Cemex, Holcim and Lafarge. Cemex corporate policy is to have controlling stakes in its companies and, due to growth limitations, the company may try to get the government to buy 100% of its local assets, the report said. ... |
RAK Cement profit drops 63 per cent on fuel cost14 April 2008, Published under Cement NewsRas Al Khaimah Cement Co first-quarter net profit fell 63 per cent on higher fuel cost and a 21-day annual shutdown. With gas scarce, cement makers in the UAE are turning to imported coal to fire their furnaces to cope with surging demand for cement as the government of the world’s sixth-largest oil exporter invests petrodollars in infrastructure projects. Net income for the three months to March 31 was AED10.2m (US$2.78m), compared with AED27.6m in the year-earlier period, it said in a ... |
Indian government bans cement exports14 April 2008, Published under Cement NewsThe Indian government has decided to ban export of cement to arrest rising prices. "We have banned the export to take care of mismatch between supply and demand of cement," Minister of Commerce and Industry Kamal Nath said. The cement prices have been increasing at regular intervals for the last two years, prompting government to take several steps without much success. The steps included scrapping the import duty and allowing purchase from Pakistan. Commenting on the decision, Cement... |
Divestment plan of Semen Gresik unit approved14 April 2008, Published under Cement NewsThe Ministry of SOE approved the plan of PT Semen Gresik Tbk to restructure its three units through divestment program so that it will focus on the core business. The Deputy of SOE Ministry on Mining, Strategic Industry, and Telecommunication Roes Aryawidjaja said that the divestment will be the corporate action aimed at maximizing the business performance. "This is a corporate action so there is no problem. If it is beneficial for the company, it will be beneficial for the country," he ... |
Taiwan Cement Hikes product prices 20% in Mainland China11 April 2008, Published under Cement NewsTaiwan Cement Corporation, one of Taiwan`s largest cement producers, recently decided to hike selling prices of cement produced in Jiangsu and Fujian provinces by 20%, to CNY300/t from CNY200. In the meantime, Taiwan Cement is expanding its production capacity in both Jiangsu and Fujian provinces. After the expansion projects in these two provinces are completed, the company will see an additional shipment of approximately 5Mta. C.C. Huang, Taiwan Cement vice president, said the cement pri... |