Cement News tagged under: international
Calcestruzzi problems delay Italcementi’s results14 March 2008, Published under Cement NewsItalcementi has postponed the announcement of its annual results, originally scheduled for the 18th of March, until the 26th of March to allow more time for the assessment of the accounting treatment of the illegal activities that went on in Calcestruzzi, the Italian ready-mixed concrete and aggregates arm, infiltrated by the Sicilian Mafia. Earlier this year, the chief executive of Calcestruzzi was arrested and the company’s assets were seized by the court. Calcestruzzi represents around ... |
Republic, Lafarge partner with CAC14 March 2008, Published under Cement NewsOfficials of the consortium of Republic Cement Corporation and Lafarge Holdings (Philippines), Inc. recently inked a Memorandum of Agreement with Concrete Aggregates Corporation (CAC) for the consortium’s acquisition of aggregates assets and the operation of CAC’s basalt quarry in Angono, Rizal. Department of Environment and Natural Resources (DENR) Secretary Jose ‘Lito’ Atienza witnessed the ceremonial signing ceremony. The transaction reinforces the position of Republic Cement, a Lafarge... |
Taiheiyo Cement to see 38% profit drop in FY0714 March 2008, Published under Cement NewsTaiheiyo Cement Corp is now expected to report a 38% drop in group pretax profit to around 42 billion yen for fiscal 2007, worse than the 28% drop to 49 billion yen that was previously projected. Sales are seen dipping 2% to 920 billion yen due to lackluster cement orders for large public works projects such as roads and bridges. Private-sector orders, which has been driving growth, have been hurt by the drop in new plant and housing starts that resulted from tougher construction regulation... |
Cementir FY net rises 23.1 per cent14 March 2008, Published under Cement NewsCementir SpA said full-year net profit rose 23.1 per cent to EUR140.4m thanks to measures to increase the efficiency of its plants and that it will pay a dividend of EUR0.12/share, up 20 per cent from a year earlier. Looking ahead, the company said it is difficult to make forecasts given current economic uncertainty but added it will increase its cement production capacity in emerging countries by 10 per cent Cementir said revenues rose 9.4 per cent to EUR1.152bn and EBITDA rose 10.8 per c... |
Zambezi Portland suffers delay, Zambia14 March 2008, Published under Cement NewsZambezi Portland Cement Limited (ZPCL) will not meet its projected target of commencing preliminary cement production next month. ZPCL has invested a total of US$50m in the construction of the cement plant in Ndola. ZPCL managing director, Antonio Ventriglia attributed the delay to the marooned electrical cables imported from India that are at South African and Tanzanian ports of Durban and Dar-es-Salaam respectively. Mr Ventriglia said in an interview that the electrical cables were order... |
Solid growth forecast for Pakistan cement sector14 March 2008, Published under Cement NewsCement sales are expected to rise in the remaining months of fiscal year 2008 (FY08) with rising exports and stable local dispatches, a research report said. Industry sources said that the cement industry is set to increase its sales due to high production and high export orders. With the advent of the peak local cement demand season in the country and soaring regional prices, demand for Pakistani cement is set to rise further. “Hence, it is likely that in remaining months of FY08, we might... |
CRH splashes out another EUR348m in the USA14 March 2008, Published under Cement NewsCRH is spending EUR348m (US$540m) on a major expansion of its US architectural products activities in buying the Texas-based Pavestone Group on an EBITDA multiple of 8.3 times, assuming regulatory approval is secured. Further payments may follow, depending on future profitability. Pavestone, generates sells some 70% of its turnover into the D-I-Y market has 16 concrete paver plants across the United States and also has bagging plants for decorative stone at 14 of these locations. As CRH al... |
’FG should declare state of emergency in cement industry’13 March 2008, Published under Cement NewsThe West African Portland Cement Company PLC has called on the Federal government to declare a state of emergency on the cement industry, according to local press reports. Recently the federal government endorsed the importation of bulk cement into the country in order to bridge the supply deficit estimated at 11.5Mt in the demand for the product. The decision of the government was followed by a sharp increase in the price of cement by almost 80 per cent, with a bag going for N2300 as agai... |
New Lithuanian plant to be postponed?13 March 2008, Published under Cement NewsAkmenes Cementas (Akmene Cement), Lithuania’s only cement producer, said it might postpone construction of a new LTL300m (EUR87m) plant. Sigitas Leminskas, Akmenes Cementas deputy CEO, was quoted in a specialised publication, Cementininku Zinios, saying that the construction was likely to be postponed since more time was needed on design specifications. “We need to know the parameters, the weight and other data of new installations before we sign a contract with the contractors du... |
Holcim to invest $800m in Mexico over three years13 March 2008, Published under Cement NewsHolcim Ltd plans to invest about US$800m in Mexico between 2008 and 2010, the government said Wednesday. President Felipe Calderon met with Holcim Chief Executive Markus Akermann, the presidential press office said in a statement. The investment over the next three years includes $400m for a new 1.6Mta cement plant under construction in the northwestern state of Sonora. Holcim’s Mexican unit Holcim Apasco operates six cement plants with annual capacity of 11.3Mt. |