Cement News tagged under: international
Emissions row forces Lafarge to suspend investment22 February 2008, Published under Cement NewsLafarge has suspended 0.1bn (£755m) in new cement plant projects in Europe until it has more details on new European Union CO 2 emissions, according to reports from New Civil Engineer. Uncertainty and "a lack of visibility" in the EU Emission Trading Scheme (EU ETS) was preventing the company from going ahead with planned capital expenditure according to Group Lafarge chairman and CEO Bruno Lafont. The recently published draft directive for phase three of the emissions trading schem... |
Colombia’s Cementos Argos 2007 net up 39%22 February 2008, Published under Cement NewsCementos Argos SA, Colombia’s largest cement company, said its consolidated net profit rose 39% in 2007 to COP212bn (US$111m) from COP153bn in 2006. Operating revenue increased 10% to COP3.79 trillion from COP3.43 trillion, the Medellin-based company said in a filing to the securities regulator. Revenue from Colombia rose 29%, while that from the U.S. rose 22%. In 2005 and 2006, Cement Argos spent $692m to buy two cement companies and a ready-mixed concrete company in the U.S. Ce... |
Gas shortage hurts profits of UAE cement companies21 February 2008, Published under Cement NewsA shortage of energy – particularly gas – combined with high oil prices and inflation in local and global economies – has contributed to a fall in profits of most UAE cement companies. They said profits fell even though revenue increased on the back of rise in sales. The companies said the cost of production increased greatly as factories switched from scarce natural gas to high-cost diesel and heavy fuel oil to generate electricity. Officials said the price of cement – which is capped by ... |
Heidelberg’s Bosnian unit 2007 net profit rises 118%21 February 2008, Published under Cement NewsTvornica Cementa Kakanj (TCK), a Bosnian cement factory owned by Germany’s Heidelberg Cement, said on Wednesday its 2007 net profit rose 118% to 35.48 million marka ($26.6m) on the back of increased sales last year. “As a result of the increased … demand for cement on the Bosnian market, the volume of sales rose by 71,000t, or 11.2%, which led to a 40% rise in sales revenue and 118% rise in net profit,” TCK said in its annual financial report filed to the Sarajevo Stock Exchange (SASE).... |
Lithuania’s Akmenes sales rise 23.2 per cent21 February 2008, Published under Cement NewsAkmenes Cementas (Akmene Cement), the sole Lithuania’s cement manufacturer, reported LTL13.8m (EUR 4m) in sales for January, a surge of 23.2 per cent versus the year-earlier figure of LTL11.2m. Virginija Berezniak, the company’s CFO, attributed the rise to stronger sales of cement. "We sold the largest share of output in Lithuania and exported some volumes to Latvia," she said. In January Akmenes Cementas sold 58,000t of cement, including 54,400t or 93.8 per cent in Lithuania and the res... |
Egyptian Cement Co 2007 Net Profit Up to $281.7m21 February 2008, Published under Cement NewsEgyptian Cement Company (ECC) booked a net profit of E£1.548bn (US$281.7m) in 2007, up from E£1.269bn (US$231m) a year ago, according the company’s financial statement, published on February 19, 2008. ECC sales increased to E£3.208bn (US$583.8m) from E£2.459bn (US$447.5m), and total operating profit amounted to E£1.642bn (US$298.8m), up from E£1.375bn (US$250.2m). |
India Cement firms move Court against MRTPC decision21 February 2008, Published under Cement NewsAbout 17 cement companies, including the Cement Manufacturers Association (CMA), have gone on appeal to the Supreme Court against the Monopolies and Restricted Trade Practices Commission (MRTPC) decision on cement cartelisation. The MRTPC, after looking into complaints of price fixing and restrictive practices by cement companies, found that the cement companies adopted restrictive practices and a cartel existed. It sent notices to about 42 companies, including the Cement Manufacturers ... |
Shree Cement denies investment plans for MP plant21 February 2008, Published under Cement NewsShree Cement on Wednesday said its board has not cleared any investment plans for a cement plant in Madhya Pradesh, as reported by local media. The company further clarified that it has not even secured the limestone mines for the above project, although it is making efforts in this direction. The media last week carried reports of Shree Cement planning to invest Rs 2,000 crore in a new plant in Madhya Pradesh, and had the option of increasing the capacity by 1Mt at a later stage. ... |
Cimpor confirms analysing investment in Jordan21 February 2008, Published under Cement NewsCimpor is analysing a possible investment in a new cement plant in Jordan but no decision has been taken yet, the company said confirming press reports. In a statement, Cimpor said it is still analysing the quantity and quality of available raw materials and the perspectives for growth of the cement market in the Middle East. Press reports earlier this week said that Cimpor was in talks to build a cement factory in Jordan in a joint venture with a local partner. The reports said t... |
Lime key to further profit growth says Adelaide Brighton21 February 2008, Published under Cement NewsCement and lime supplier Adelaide Brighton Ltd has posted an 11.5 per cent increase to a record full year profit and forecasts further growth in 2008 driven by increases in lime demand. Adelaide Brighton announced net profit in 2007 of $113.9m, up from $102.1m in 2006. Investors liked the news, sending the firm’s shares up 17 cents, or 5.01 per cent, to $3.56 by day’s end. Managing director Mark Chellew said the record annual result was due to the company’s "very heavy alignm... |