Cement News tagged under: international
Cement firms to maintain growth rates20 July 2007, Published under Cement NewsCement companies in northern India saw good sales but static prices in April-June quarter, while those in southern and western parts saw sluggish volume growth but better prices, analysts said. Consequently, the profit growth of all these companies was likely to be just about maintained compared to previous quarters, they said. India Cements Ltd. was forecast to post a net profit growth of 10 per cent to INR1.55bn. The company would gain from the merger of Visaka Cement with i... |
UK cement producers rubbish cartel claims20 July 2007, Published under Cement NewsCement makers have reacted angrily to further claims from independent quarriers and concrete producers that the sector is anti-competitive. The cement manufacturers said that efforts by cartel busters - acting on behalf of the British Aggregates Association - to encourage the Office of Fair Trading to look into the sector showed the investigation was flagging. The BAA has written to the OFT calling for an investigation into the cement supply industry after its members expressed con... |
Taiheiyo Cement may revive U.S. acquisition talks20 July 2007, Published under Cement NewsTaiheiyo Cement Corp. may revive talks to acquire a ready-mix concrete maker in the United States for which negotiations broke down last month, the president of Taiheiyo’s international company said. In an interview with Reuters, Keiji Tokuue also said the profit of its U.S. operations was about 10 percent below its forecast for the April-June quarter, hit by a weak housing market. Taiheiyo, Japan’s largest cement maker, announced last month that it had failed to clinch a deal to b... |
China National Building Material to expand production capacity20 July 2007, Published under Cement NewsChina National Building Material plans to raise cement clinker production capacity to 30Mt. Chang Zhangli, company secretary of China National Building Material Company Limited (CNBMC), said the company plans to expand its cement clinker production capacity to 30Mt from the current 25Mt through acquisition. CNBMC’s cement production capacity in the provinces of Shandong, Jiangsu, Henan and Hebei has increased from 11Mt to 30Mt. CNBMC may acquire Zhejiang Cement and Hushan Cemen... |
India’s ACC says Q2 net profit falls 14 per cent19 July 2007, Published under Cement NewsACC Ltd, India’s second-largest cement producer, on Thursday reported a 14 per cent fall in the June quarter profit from a year ago, when its earnings had been boosted by one-time gains. ACC, in which Holcim controls nearly 41 per cent, said net profit for its fiscal second-quarter was INR3.51bn (US$87m), compared with INR4.06bn, including extraordinary gains of INR1.47bn, a year earlier. Net sales for the quarter rose to INR18.68bn from INR14.62bn a year earlier. |
Semen Gresik Seeks Shareholders’ Approval on Bonds19 July 2007, Published under Cement NewsPT Semen Gresik Tbk has planned to arrange extraordinary general meeting of shareholders (EGMS) at the end of September to ask for approval to issue some bonds. Semen Gresik plans to issue US$200m-300m bonds to meet the need on capital expenditure to develop new cement facility. The Vice President Commissioner of Semen Gresik Darjoto Setyawan said that the EGMS also would talk about the corporate restructuring plan. "The EGMS will talk about several issues including on financi... |
Bids for HeidelbergCement’s Maxit value unit At EUR2bn19 July 2007, Published under Cement NewsHeidelbergCement AG has received bids for the auction of its Maxit unit that value the unit around EUR2bn, Financial Times Deutschland reports ahead of publication Thursday, citing several sources. A HeidelbergCement spokeswoman declined to comment on the report. According to the newspaper, the bidding process is in the last round, and PAI, Texas Pacific Group and Cinven Group Ltd. are among the remaining bidders. HeidelbergCement plans to use the proceeds of the sale of the M... |
Albania gives Titan go-ahead for plant construction19 July 2007, Published under Cement NewsAlbania’s government said on Wednesday it has given the green light to Titan for the construction of a cement plant worth some EUR250m. The plant will be built near the town of Kruje, which lies close to Albania’s biggest Adriatic port of Durres. Last October Titan applied for a licence to built the plant. According to the Albanian government the plant will be constructed within the next three years and will produce some two millions tonnes of cement per year initially with p... |
MSP group plans cement unit in north-east19 July 2007, Published under Cement NewsMSP group is planning to set up a 1Mt cement unit in north-east India, according to its director Saket Agrawal. The total investment in the unit, which will include a manufacturing plant and a captive power station, would be around Rs 600 crore, Agarwal said. "We are scouting for suitable land in the area and have already started talking to banks and financial institutions for financing the project," he said and added that the group would create a separate company for the cement business. ... |
Strike at Lafarge’s Sichuan cement plant ends; aimed at former proprietes - CEO19 July 2007, Published under Cement NewsProduction has resumed at Lafarge Shui On Cement Ltd plant in Sichuan province after a strike which lasted more than two weeks was aimed at the former proprieters, Sichuan Shuangma Investment, according to the firm’s chief executive officer. ’The strike started before we took over the plant, it was not against us,’ Lafarge Shui On Cement CEO Cyrille Ragoucy told XFN Asia. ’It happened when the local government was organizing a settlement plan changing Shuangma from an SOE to a private enter... |