Cement News tagged under: international
Cimpor buys 20 per cent of Shree Digvijay, India12 March 2008, Published under Cement NewsCimpor has announced its tender offer for 20 per cent of Shree Digvijay Cement Company Limited was successful, resulting in Cimpor acquiring around 28.2m shares in the Indian company for about EUR19.3m. In a statement, Cimpor said the result of the tender offer means it can now complete the acquisition of 53.64 per cent of the Gujurat-based Shree Digvijay, announced in December, thus hiking its stake in the company to 73.6 per cent. In December, Cimpor said Shree Dijvijay has an a... |
Taiwan Cement, Asia Cement expand output in Mainland China11 March 2008, Published under Cement NewsTaiwan Cement Corporation and Asia Cement Corporation, are continuously expand production capacities along with boosting production efficiency in the mainland. Faced with the aggressive expansion launched by these European cement producers, Taiwan Cement has announced it would invest US$1 billion to expand its annual production capacity to reach 50Mt in the mainland in 2012. Taiwan Cement vice president Huang Chien-chiang said Taiwanese cement firms have advantage over European pee... |
ACC Sells Unit For INR450m11 March 2008, Published under Cement NewsACC Ltd Tuesday said it sold its subsidiary ACC Machinery Co. to HNG Group for INR450m . The Indian cement manufacturer said in a statement that the unit earned a revenue of INR632.4m in 2007. The profit after tax for the same year was INR97.5m. Officials at ACC couldn’t immediately be reached for more details. |
Guaranteed foreign loans okayed for cement plant, Vietnam11 March 2008, Published under Cement NewsThe Prime Minister of Vietnam has assigned the Ministry of Finance to sign guaranteed letters for loan contracts of French banks Societe Generale and BNP Paribas and the Australian and New Zealand Bank (ANZ) to the Thang Long 2 Cement Plant project. The construction of the VND5.4 trillion plant has started in June 2006 in the northern coastal province of Quang Ninh and its product is expected to hit the market next month. The plant, the biggest of its kind so far in the country, h... |
New Cement Plant in Qena foundation stone laid11 March 2008, Published under Cement NewsThe Minister of Investment, Dr. Mahmoud Mohieldin and the Governor of Qena, General Magdy Ayob laid the foundation stone of El Nahda Cement Company in Qena, Egypt. The company is expected to start production in 2010 with a capacity of 1.6Mta. The new cement company is owned by the National Cement Company (30 per cent), the Holding Company for Chemical Industries (20 per cent), the Holding Insurance Company (20 per cent) and the Arab Contractors Company (30 per cent). Dr. Mohieldin ... |
More outdated cement facilities to be closed down in East China province11 March 2008, Published under Cement NewsChina’s biggest cement producer Shandong province plans to close down 37.34Mt of vertical kiln cement clinker production capacity in the 2008-2010 period, about 45 percent of the total production capacity of cement clinker of the province in the end of 2006. According to the provincial government, the province had 864 vertical kiln cement production lines in the end of 2006, posing an arduous task for the province in energy saving and reduction of pollutant discharge. The province ... |
Andhra Pradesh cement prices likely to go up11 March 2008, Published under Cement NewsCement prices in Andhra Pradesh are likely to go up soon due to an increase in input costs and buoyancy in construction activity. The industry is studying the impact of the hike in diesel price, which will affect inward and outward movement of raw materials and cement, according to Mr S. Srikant Reddy, General-Secretary, All-India Mini Cement Manufactures’ Association (AIMCMA). “Already price rises are happening in different parts of the country. The hike here could be between Rs 5... |
Oman Cement sales down 1.62 per cent in 200711 March 2008, Published under Cement NewsOman Cement Co said sales had fallen 1.62 per cent in 2007 from the previous year due to unusually bad weather. Oman’s al-Watan newspaper quoted Chairman Qahtan bin Yaroub as saying that cement sales had fallen to 1.878Mt in 2007 and Oman Cement’s market share had fallen 1.33 percent. Oman Cement posted its third consecutive decline in profit in the fourth quarter at OMR18.017m (US$46.80m) compared to OMR20.584m the previous year. Bin Yaroub said that Oman Cement plans to fina... |
South African cement sales up 11.7%11 March 2008, Published under Cement NewsCement sales grew 11.7 per cent to 1.163Mt YoY in February from 2.5 per cent YoY in January, data from the Cement and Concrete Institute showed on Monday. Sales are up 4.9 per cent to 2.057Mt so far this year compared with the same period last year, the institute said. Sales in Swaziland, Botswana, Lesotho and Namibia grew 9.5 per cent YoY in February to 83,252t. Sales, at 171,520t in those countries so far this year, are up 4.2 per cent on the same time last year. Exports to other countr... |
Africa provides strong growth at Vicat11 March 2008, Published under Cement NewsVicat increased turnover last year by 2.6% in absolute terms and by 4.3% on a comparative basis to EUR2,136m. The EBITDA improved by 5.1% to EUR593m as margins improved from 27.1% to 27.8%. The trading profit advanced by 8.7% to EUR480m and the net attributable profit by 6.1% to €299m. Capital investment increased by 38.8% to EUR311m and a further EUR156m went into acquisitions, while in 2008 capital expenditure should amount to some EUR220m in cement and EUR60m for the downstream busines... |