Cement News tagged under: international
HeidelbergCement shows good margin improvement07 August 2007, Published under Cement NewsHeidelbergCement raised turnover by 12.5% to EUR4,810.8 in the first half of 2007m, with the EBITDA advancing by 19.7% to EUR 974.5m. The trading profit rose by 28.0% to EUR 719.7m and the net attributable profit jumped by 247.4% to EUR 1302.7m. The net interest charge increased by 5.9% to EUR 112.2m, with net debt at the end of June standing at EUR 4,498m to giving a gearing level of 58.9%. Capital expenditure in six months amounted to EUR 385m, in increase of 80.8%, wh... |
China National Building Material plans to buy stakes in 10 China cement firms07 August 2007, Published under Cement NewsChina National Building Material Co Ltd (CNBM) said it has signed letters of intent (LOI) to acquire stakes in 10 cement companies in China. Under the LOI, CNBM will acquire 80% stakes in Zhonglida Group Holding Co. Ltd., Zhejiang Lima Cement Co. Ltd., Zhejiang Yaya Cement Co., Zhejiang Shenhe Cement Co. and Zhejiang Tongxing Cement Co., 100% stakes in Anhui Feida Cement Co. and Zhejiang Tianji Cement Co. and at least 50% stake in Hejiashan Cement Co. Ltd. These eight cement companies can pr... |
Binani Cement to invest US$100m in China plant07 August 2007, Published under Cement NewsBinani Cement Ltd plans to invest US$100m more into the Chinese cement company Shandong Rong’an Group, in which it bought a 49% stake for US$110m earlier in July, sources reported. Binani was said to intent to tap the debt market for funding the China venture. Though holding a minority stake, Binani is given the right for management control, and it aims to rise its holding in the venture to 70% by September and to enhance the company’s capacity to 2.2 million tones per year in the n... |
Italcementi’s Asian profits grow by 39%06 August 2007, Published under Cement NewsItalcementi’s first half turnover increased by 5.6% to EUR3073.1m, but the EBITDA declined by 1.7% to EUR 726.9m and the reduction at the trading level increasing to 5.1% to EUR 508.2m. The net interest charge was 10.5% higher at EUR 57.5m, but exceptional costs were lower and the income from associates rose, giving a 5.8% decline in the pre-tax profit to EUR 453.4m. Net debt at the end of June was 9.2% lower that a year earlier, giving a gearing level of 48.8%. Capital investm... |
Kenya cement merger on the cards06 August 2007, Published under Cement NewsThe Kenya government has received a proposal for the merger of the two largest cement producers in Kenya, Bamburi Cement Ltd and East Africa Portland Cement Ltd, marking the beginning of what could be the most comprehensive restructuring of the cement industry in Kenya in years, with ramifications likely to be felt throughout East Africa. If the proposal for the merger — which, incidentally, is supported by East Africa Portland Cement — is approved, French cement conglomerate Lafarge, the m... |
Carib Cement recovers from cement crisis06 August 2007, Published under Cement NewsThere has been a major turnaround in the financial performance of Caribbean Cement Company Limited. The company has fully emerged from the 2006 cement crisis which pushed it into a loss position. Revenue for the first half of its financial year increased by $400 million to $3.6 billion. This led to Caribbean Cement earning a net profit of $251 million for the six months to June 30 compared to a $234 million loss last year. It managed to realize a profit despite the presence of imported c... |
Mexico’s Moctezuma to build new cement plant06 August 2007, Published under Cement NewsMexico’s Corporacion Moctezuma plans to build a new cement plant in the Gulf of Mexico state of Veracruz, to meet growing demand. The plant will have an annual capacity of 1.3Mt and will require an investment of $150m, Moctezuma said in a statement on Friday. Mexico has experienced a nation-wide housing boom in the last few years as banks have started to offer more lending options from banks and the government has sponsored programs to access credits and mortgages. Builders an... |
Venezuela takes step to expropriate cement company assets06 August 2007, Published under Cement NewsVenezuela has declared the assets of the Corporacion Cemento Andino of public utility and social interest, according to a notice in the latest official gazette. The resolution, a step previous to actual expropriation, becomes effective immediately and includes all the assets, such as "machinery, buildings...owned by Cemento Andino SA," located in the mid-west state of Trujillo, according to the notice. Cemento Andino’s assets in Venezuela are owned by Cementos Argos, the Colombian l... |
Jaiprakash Associates to invest in cement units06 August 2007, Published under Cement NewsInfrastructure major Jaiprakash Associates (JAL) will invest Rs 4,000 crore by 2009 to increase its cement capacity by more than three-fold to 25Mt. The company has a combined cement capacity of 7Mt at its four plants in Madhya Pradesh and Uttar Pradesh. It will scale up the capacity to 25Mt, after setting up new plants in Himachal Pradesh, Haryana, Gujarat and Madhya Pradesh, by December 2009, Jaiprakash Associates Executive Chairman Manoj Gaur said. The company had acquired UP ... |
China’s investment in cement industry surges 54.27% in H106 August 2007, Published under Cement NewsChina’s investment in cement industry surged 54.27 per cent in the first half of this year, according to the latest statistics announced by the National Development and Reform Commission (NDRC) on July 17. The statistics show that spurred by the demand of capital construction, China’s cement industry has demonstrated brisk production and sales this year, but having big difference by region. |