Cement News tagged under: international
CNBM forms JV to buyout assets from Dezhou Daba18 September 2007, Published under Cement NewsChina National Building Material Company said its wholly owned China United agreed to establish a joint-venture Dezhou China United for the future acquisition of certain cement assets and liabilities of Dezhou Daba. China United will contribute Rmb170 million to hold 85% of the JV company. Dezhou China United will be engaged in the manufacture and sale of cement and related products, subject to the approval of the relevant PRC authorities. Its business license is expected to be for a period... |
Semen Gresik expected top post strong profit growth until 200918 September 2007, Published under Cement NewsThe profit before interest and tax of state-owned cement manufacturer PT Semen Gresik is predicted to grow 14 per cent annually from 2007 to 2009. Growing domestic demand is the main driver for the increase in profit of the country’s largest cement maker, a research by Citigroup said. Its income is estimated to grow 11 per cent annually during the same period with cement prices forecast to rise 9 per cent, the research added. The company including its two subsidiaries PT Semen Padang and... |
Qinling Cement to create new power station18 September 2007, Published under Cement NewsShaanxi Qinling Cement (Group) Co., Ltd is to create a low temperature thermal power station jointly with China Energy Conservation (Hong Kong) Co., Ltd., announced the Tongchuan-based cement producer. The power station, with an investment of CNY 120 million, will output power by making use of the heat power of three new suspension heater type cement production lines of Qinling Cement. Its installed capacity is expected to reach 16,000 to 18,000 kilowatts hours. China Energy Conservation w... |
Cement prices rise in Western India18 September 2007, Published under Cement NewsCement has become more expensive in Western India with prices creeping up by as much as Rs 3 a bag. The key markets impacted are Mumbai and some parts of Gujarat. Prices in Mumbai for wholesale customers will now average around Rs 253. While retail price tags will be around Rs 268 per bag institutions will have to pay about Rs 242 for a bag of cement. Industry watchers believe that price hikes notwithstanding demand in this region will remain strong and so supply constraints are a big wor... |
German company completes takeover Lehigh Cement’s parent buys Hanson for $16 billion.17 September 2007, Published under Cement News |
German company completes takeover Lehigh Cement’s parent buys Hanson for $16 billion17 September 2007, Published under Cement NewsThe parent company of Lehigh Cement in Upper Macungie Township closed a $16 billion acquisition Thursday – the biggest ever takeover in the building materials industry – that will broaden the company’s geographic reach and diversify its product line. HeidelbergCement AG, a German cement maker and parent of Lehigh Cement, purchased Hanson PLC of the United Kingdom. The result is a powerhouse global company that owns cement plants, quarries and sells such cement products as ready-mixed concre... |
CRH In Talks to buy up to $4.5B Of Cemex assets17 September 2007, Published under Cement NewsIrish building materials group CRH PLC (CRH) said Monday it was in talks to buy up to $4.5 billion of assets from Mexican cement giant Cemex SA (CX). The assets include operations in Florida and Arizona which Cemex is required to sell by the U.S. Department of Justice following its acquisition in July of Rinker Group Ltd, Australia’s largest maker of building products. But Dublin-based CRH is also in discussions to buy Cemex’s concrete pipe business, parts of its U.S. materials and produc... |
KKR Completes $150 Mln Investment In China’s Tianrui Cement17 September 2007, Published under Cement NewsKohlberg Kravis Roberts & Co. L.P. said Monday it completed a $115 million financing in Tianrui Cement, a large cement producer based in China’s Henan province. Titan Cement Ltd., an entity controlled by KKR, acquired a minority stake with the $115 million. Tianrui also received $335 million in U.S. dollar and Chinese yuan commitments from International Finance Corp. and an international banking syndicate led by JP Morgan. The loan facility is the first sponsor-related, yuan-denominated lon... |
Nigeria: Between importation of cement and loan re-payments17 September 2007, Published under Cement NewsThe recent threat by the Federal Government to import cement in a bid to force the prices of cement down may mean different things to different people. Displeased with the high prices of cement by cement manufacturers in the country, President Yar’ Adua has threatened to embark on massive importation of the product if the manufacturers do nothing about the escalating prices. Charles Ugwu, Minister of Commerce and Industry, disclosed the intention of the FG at a meeting of the stakeholders ... |
India: cement prices to rule firm despite imports17 September 2007, Published under Cement NewsThe Indian cement industry would not be impacted by import of cement from Pakistan. A Macquarie Research report on cement said that cement prices should maintain their upward trend for the next 12-15 months, until some large greenfield projects come on-stream. The Pakistan cement industry has almost doubled its capacity to approximately 40m tonnes in the last two years and is believed to in a large surplus zone. Pakistan has witnessed 18% CAGR growth over the last six years and this year t... |