Cement News tagged under: international
Bamburi Cement posts 42 per cent jump in pretax profit04 March 2008, Published under Cement NewsKenya-based Bamburi Cement whose majority shares are owned by Lafarge, has posted a 42 per cent jump in pre-tax profits to $77 million (Shs13 billion) for last year. The company also reported that its turnover had surged by 34 per cent to Shs55 billion, fuelled by a 15 per cent increase in cement sales. Bamburi sold 2Mt of cement in 2007, according to a press statement issued on February 26. Bamburi’s chairman Richard Kemoli said; "despite the challenging business environment across... |
CRH full year 2007 pretax rises04 March 2008, Published under Cement NewsCRH PLC posted a higher pretax profit and said the outlook for Europe materials in 2008 is good. The Dublin-based cement and aggregates company said its pretax profit for the year ended Dec 31 rose 19 per cent to EUR1.9bn from EUR1.6bn while revenues grew 12 per cent to EUR20.99bn from EUR18.74bn. The company lifted its final dividend to 48 cents from 38.5 cents, thus raising its total dividend to 68 cents from 52 cents last year. It added its organic growth is unlikely to be as strong as... |
Bulk cement prices up in western India03 March 2008, Published under Cement NewsBulk cement prices have gone up by INR4-7/50kg bag in western India with effect from March 1, a trade official said on Monday. However, retail prices have not been raised, said Sanjay Ladiwala, president, Cement Stockists and Dealers’ Association of Mumbai. The revision is mainly to factor in the impact of excise duty changes made in the budget last week, he said. Last week, Finance Minsiter Palaniappan Chidambaram had proposed an excise duty of INR400/t or 14 per cent ad-valor... |
Gulf Cement plans to allow non-Qataris 49 per cent of shares03 March 2008, Published under Cement NewsGulf Cement Co., a Qatari maker of building materials, will allow international investors to own 49 per cent of the company’s shares. Shareholders have approved the new foreign ownership limit, the company said in a statement posted on the Web site of the Doha stock exchange. |
Siam City Cement expects no domestic sales recovery, Thailand03 March 2008, Published under Cement NewsSiam City Cement (SCCC) expects domestic demand this year to stay flat at best despite the government’s acceleration of mega-projects. Demand has yet to increase this year, due to the uncertainty about the mega-projects and low purchasing power caused by skyrocketing oil prices, Chantana Sukumanont, executive vice president for marketing and sales at the country’s second-largest cement maker, said yesterday. Demand would remain at 29Mt and supply at 54Mt, she said. "We would lik... |
Holcim buys land near proposed plant site, New Zealand03 March 2008, Published under Cement NewsHolcim is buying land around its $200m cement plant at Weston, sand quarry at Windsor and opencast coal mine at Ngapara to provide a buffer zone for its proposed operations. The company, which will not make a decision until later this year, at the earliest, whether to build the plant, has bought an 8.722ha lifestyle block opposite the cement plant on the Weston-Ngapara Rd and has other sales pending. It has approval from the Overseas Investment Office (OIO) for the purchase of the ... |
Baticim in talks for taking over Afyon Cimento, Turkey03 March 2008, Published under Cement NewsCement maker Baticim Bati Anadolu Cimento unveils its plans to establish a consortium to bid for cement company Ayfon Cimento. In the statement issued to the Istanbul Stock Exchange, Baticim notes that it already started works for a consortium and there will be further public announcements regarding the progress. Baticim and another ISE-listed cement maker Batisoke placed a bid for local cement firms of Ciments Francais. Ciment Francais is selling out four cement plants, one cement gr... |
India: increase in excise duty likely to be passed on to customers03 March 2008, Published under Cement NewsThe cement industry, which is expected to grow at a robust rate during FY09, driven by rising demand from the real estate and infrastructure sectors, is disappointed with no benefits being announced for the sector in the Union Budget 2008. Finance minister P Chidambaram in his budget speech made two announcements related to the cement sector, ie, bulk cement will now attract excise duty of Rs 400/t or 14% ad valorem, whichever is higher, and cement clinkers will be liable to excise duty of... |
JSW Bengal to build 3Mt cement plant at Salboni03 March 2008, Published under Cement NewsSajjan Jindal-owned JSW Steel Group will be setting up a 3Mt cement plant at Salboni in West Bengal, where it has already decided to develop a 10Mt integrated steel plant with an investment of Rs 35,000 crore. "We have planned a 3Mt cement plant. JSW Bengal will construct the cement plant prior to the steel plant as part of the project," JSW Bengal Managing Director Biswadip Gupta said. "As per the environment clearance for the project we cannot throw any solid waste out of project area. T... |
Tanzania cancels cement import licences for 14 firms03 March 2008, Published under Cement NewsTanzania has cancelled cement import licences for 14 companies that had applied to import quantities from East African countries and elsewhere. The decision comes after months of foot dragging by importers who were issued with licences to cover cement deficit that had sent prices souring. Late last year, the Ministry for Industries, Trade and Marketing issued licenses for importers to bring into the country 100,000t of cement from East African countries at zero duty. The ministry iss... |