Cement News tagged under: international
Holcim hikes offer for St Lawrence minority shareholders13 July 2007, Published under Cement NewsHolcim said it will increase its offer to minority shareholders of St Lawrence Cement Group to C$43.50 in cash per share, from C$40.25, taking the total value of the revised offer to C$681m. The Swiss cement maker said the offer has been extended to July 30. The revised offer represents Holcim’s best and final offer to SLC’s minority shareholders and the offer will not be further extended if the minimum tender is not met, the group said. Today’s offer represents a 44 pct premi... |
India’s June cement sales up 4.6 per cent on year13 July 2007, Published under Cement NewsCement sales in India rose 4.6 perc ent in June from the same month a year ago to 13.55Mt. Production rose 5.6 per cent to 13.66Mt last month, against 12.94Mta earlier, according to provisional figures compiled by the Cement Manufacturers’ Association (CMA). Cement production has lagged demand, which trade analysts expect to rise by about 10 per cent in the year to March 2008, as Asia’s third-largest economy builds infrastructure capable of sustaining average annual economic expansion ... |
Australia’s Rinker to be suspended from trading July 18 on Cemex takeover13 July 2007, Published under Cement NewsAustralian construction materials group Rinker Group Ltd said on Friday that its shares will be suspended from trading on the Australian Stock Exchange on July 18 following its takeover by Mexico’s Cemex SA. Cemex, the world’s third-largest cement company, is moving to a compulsory acquisition of outstanding shares after gaining more than 90 per cent of Rinker’s issued capital via its US$14.25bn. Cemex launched its bid for Rinker last October, saying it wanted to expand its presence... |
Ghacem not shut down, Ghana13 July 2007, Published under Cement NewsThe Director in Charge of Strategy and Corporate Affairs, Dr. George Dawson-Ahmoah has refuted the publication in the Vanguard paper captioned "Ghacem Shuts down" and describes it as "entirely false and misleading calculated at deceiving our valued customers and the general public. In a formal complaint to the Executive Commission of the Media Commission, the management of Ghacem expressed its strongest disapproval to the article in question, which is not only correct but written withou... |
Vinashin cement plant construction begins13 July 2007, Published under Cement NewsThe Vietnam Industrial Shipbuilding Corporation (Vinashin) began construction of a cement plant in northern Ha Nam province on July 10, as part of its development strategy until 2010. Located on 54ha in Thanh Tan commune, Thanh Liem district, the plant has a designed capacity of 2,500tpd of clinker, equivalent to 910,000tpa of cement. The construction of the VND1.3 trillion VND (US$81.2m) plant is also in line with a master plan of the cement sector until 2010 and a 2020 development... |
Colombia Portland cement sales up13 July 2007, Published under Cement NewsSales of Portland cement in Colombia reached 4.3Mt in the first half of the year – a13 per cent YoY growth, said ICPC (Instituto Colombiano de Productores de Cemento). Sales for 2007 are forecaste to reach 8.5Mt of Portland cement, an increase of 7.3 per cent compared with 2006. |
ACC says sells Nihon Castings for $7.4m13 July 2007, Published under Cement NewsACC has sold its stake in a steel castings unit for INR300m (US$7.4m) as part of a move to exit non-core activities. The company said its sold ACC Nihon Castings Ltd. to the Hindustan Udyog Group. It said the deal would not have any significant impact its results. |
Indian cement cos likely to report Q1 profits12 July 2007, Published under Cement NewsCement companies are expected to put up a good show in the June quarter. With companies working above 90% capacity and since no major additions have taken place this quarter, Anagram Stock Broking expects the sector to achieve earnings growth on the back of higher realisations rather than volume. After the finance minister announced the dual tax structure in the 2007-08 Budget, many cement manufacturers increased prices to pass on the excise burden to consumers. The brokerage expects India ... |
South Africa: Sephaku to build R2.5bn cement plant12 July 2007, Published under Cement NewsMining empowerment company Sephaku Holdings yesterday announced its first cement project, worth R2.5bn, in North West in a bid to get a slice of the booming construction industry. Chief financial officer Morrison Smit said the company had acquired the rights to a substantial limestone deposit in North West where it planned to construct a new 2Mta cement plant, subject to a bankable feasibility study to be completed before the end of the year. The construction phase is to start by the midd... |
Cement shortage pushes retail price to sh25,000, Uganda12 July 2007, Published under Cement NewsCement retail prices have reached a record high of sh25,000 per bag, the first in several years due to the booming construction industry. But exports to South Sudan, where there are urgent rehabilitation works after the region returned to peace and stability are also to blame. Other export destinations include Rwanda, Burundi and the DR Congo. Cement has been selling between sh18,800 and sh20,000 since the beginning of the year. The only two cement manufacturers, Tororo and Hima, do not h... |