Cement News tagged under: international
Cemex 2Q Results Expected To Show Impact Of US Housing Slump17 July 2007, Published under Cement NewsThe continuing correction in the U.S. housing market is expected to hurt the second-quarter results of Cemex though the company should still register a on-year revenue gain and steady profit. Cemex is expected to post a net income similar to last year’s second-quarter profit of $579m, analysts said. Some downside risk is seen to the second-quarter guidance the company provided last month for a 2% decline in earnings before interest, taxes, depreciation and amortization - or Ebitda... |
Qatari Gulf Cement Posts $3.6m net profit in 200717 July 2007, Published under Cement NewsQatar’s cement producer Gulf Cement Company posted a net profit of QAR13.2m (US$3.6m) in the first half of 2007, according to the company’s statement published on July 15, 2007. The company’s profit for the period from its establishment in April 2006 until December 31, 2006 totaled QAR19.8m (US$5.4m). Earnings per share (EPS) stood at 0.16 riyals ($0.044/0.032 euro). The bulk of Gulf Cement’s total income of 15.8 mln riyals ($4.3 mln/3.1 mln euro) came from short-term deposits... |
St. Lawrence board recommends higher Holcim bid17 July 2007, Published under Cement NewsSt. Lawrence Cement said on Monday its board had unanimously recommended that shareholders accept a sweetened takeover offer of C$43.50 a share from Swiss cement maker Holcim . Holcim’s made its revised C$681 million ($653 million) offer on Friday, up from its previous bid of C$630 million, or C$40.25 a share, which had also been endorsed by the board of Montreal-based St. Lawrence. |
Steppe Cement says BlackRock holds 8.71 per cent in co17 July 2007, Published under Cement NewsAIM listed Steppe Cement Ltd said BlackRock Inc became a substantial shareholder, as it holds 8.71 per cent, or 9.32m shares. On July 4, BlackRock bought 6.87m shares in the company at 3.35 stg a share, Steppe said. |
China National Building Material may buy two cement plants17 July 2007, Published under Cement NewsChina National Building Material Company Limited plans acquisition of two cement manufacturers. China National Building Material Company Limited (CNBMC) announced that its parent company, China National Building Material Group Corporation, will acquire at least 90% of Zhejiang Hushan Group Company Limited. CNBMC may exercise its pre-emptive right to replace the parent company to buy the equity of Hushan Group. Hushan Group has three production lines with a daily clinker capacity of 2,500 t... |
OCI Invests in North Korea16 July 2007, Published under Cement NewsOrascom Construction Industries, Egypt, has announced that it has signed an agreement with the state-owned Pyongyang Myongdang Trading Corporation to acquire a 50 per cent stake in Sangwon Cement which owns and operates the cement plant nearest to Pyongyang, the capital city of the Democratic People’s Republic of Korea (“DPRK”). The plant, which is originallysupplied by German equipment supplier KHD, has two dry-process production lines with a combined design-based nominal capacity of 2.... |
First cement kiln manufactured in Vietnam16 July 2007, Published under Cement NewsThe Machinery Installation Mechanical Company has manufactured a 2.4Mt kiln for the Thang Long Cement Plant in the northern province of Quang Ninh. The kiln, which is the first of its kind produced in Vietnam, is 78m in length and has a diameter of 5.2m. According to engineer Nguyen Tuan Cuong from Thang Long plant, over 300 tonnes of the kiln cover equipment have so far been handed over for installation in early August. The Thang Long cement project includes a major plant with a dai... |
Peru to have a new cement facility16 July 2007, Published under Cement NewsA new cement facility with a production capacity of 1.2Mta will be set up in the department of Puno, province of Macusani. The unit has a reported investment of US$160m to be made by Peruvian Cementos Interoceanicos in partnership with a Latin American group. |
Delayed Indian cement projects not to get extension16 July 2007, Published under Cement NewsThe Andhra Pradesh government has decided to cancel the limestone leases held by those who failed to set up cement units as per the schedule to make way for others. Chief minister YS Rajasekhara Reddy, who held a review meeting with the officials of mines and geology department on Saturday, asked them to send notices to those companies which delayed the execution of cement units proposed by them. “No more extension of time. Either they have to immediately start work on their project or ... |
Qatar cement demand put at 20,000tpd16 July 2007, Published under Cement NewsThe Gulf Cement Company (GCC) said on 15 July that the demand for cement in the country was estimated at 20,000tpd. This meant that 60 per cent additional capacity needed to be built, the company’s General Manager, Dr Omar Ibrahim Yagi, said at a news briefing held to announce half-yearly financials. Estimates of the additional demand, he said, were based on studies. "Our plant, therefore, comes at the right time when construction activity in the country is booming," he stressed. Yag... |