Cement News tagged under: international
Japan cement makers dread sting from depreciation rules20 April 2007, Published under Cement NewsJapan’s largest cement maker, Taiheiyo Cement Corp, and No. 3 firm Sumitomo Osaka Cement Co. are both bracing for sluggish earnings from domestic operations this fiscal year because changes in depreciation rules are expected to raise their costs. Under previous asset depreciation rules, 95 per cent of a company’s fixed-asset investments could be written off. Revisions to the tax law in April allow firms to write off the remaining 5 per cent on existing facilities over five years. ... |
Italy Cementilce to open cement plant in Bragno20 April 2007, Published under Cement NewsThe new cement facility, built in Bragno, the northern Italian municipality of Cairo Montenotte, by Cemex, Cementilce, will start operations in July 2007. Cementilce has invested EUR25m (US$34m) in the plant. The facility will specialise in the production of clinker, an intermediate material used for cement extraction. The project of Cementilce adds to the one, already launched by Turin-based Mana in the areas of Cairo Reindustria. The two plants will have a combined production cap... |
Russian court throws out Russia Partners’ suit vs Eurocement Group20 April 2007, Published under Cement NewsThe Moscow Arbitration Court Friday threw out a lawsuit filed by affiliates of US investment fund Russia Partners against Russia’s Eurocement Group over alleged profit stripping. The companies that filed the lawsuit have decided to withdraw it, according to earlier reports. Russia Partners’ affiliates Kolden Holdings and Serpell Holdings accused Eurocement Group of stripping profits from Russian cement producer Eurocement in 2004 and wanted Eurocement Group to pay RUB3.349bn in compensatio... |
Lafarge increases stake in Heracles19 April 2007, Published under Cement NewsLafarge said it has acquired a further 26 per cent stake in Greek cement producer Heracles for EUR321.6m, increasing its holding in the company to 78.7 per cent. Lafarge bought the stake from the National Bank of Greece. Lafarge said in a statement that the transaction would be immediately accretive to its earnings per share. |
Republic Cement approves merger with Fortune Cement, 2 other units19 April 2007, Published under Cement NewsRepublic Cement Corp said its board has approved its merger with three of its units, including Fortune Cement Corp, with Republic as the surviving entity. Republic owns 99.24 pct of Fortune, 98.86 per cent of FR Cement Corp and 100 per cent of Lloyds Richfield Industrial Corp. Both Republic and Fortune are listed on the Philippine Stock Exchange. Republic is 39 per cent owned by Lafarge. “The merger will further simplify the legal structure and makes for a positive synergy among t... |
Cemento Polpaico investment plans19 April 2007, Published under Cement NewsChile’s Cemento Polpaico plans on investing US$15m this year, local paper La Segunda quoted Polpaico’s general manager, Óscar Parada as saying. A total of US$8m will be invested in the company’s cement division, while US$7m will be invested in pre-mixed concrete, said Parada, adding that this will allow the company to maintain its 34% market share. Although the year kicked off with a slow start, company executives predict an 8.5% growth rate in the construction industry, with cement ... |
Iranian cement prospects upbeat19 April 2007, Published under Cement NewsIran’s cement industry will enjoy considerable growth this year with new projects set to increase total domestic production by 10Mt. The Secretary of the Iranian Cement Employers Trade Union announced that new development projects will comence in several northern cities including Zanjan, Neka and Saveh. In an interview with Fars News Agency Wednesday, Mohammad Hassan Pour-Khalil said the projects include the establishment of new plants and the setting up of new production lines in older pl... |
Lafarge Indonesia looks to 23 per cent increase sales19 April 2007, Published under Cement NewsThe world’s largest cement producer, Lafarge, sees a growing market in Indonesia, and predicts its Aceh subsidiary will book a 23 per cent increase in sales this year to 1.6Mt from 1.3Mt last year. "Many studies, including ours, say that the average increase throughout the country will be around six percent. But Aceh and other regions near it are still actively involved in reconstruction," PT Semen Andalas Indonesia’s senior vice president for commercial and logistics Haryanto Chandra told ... |
Above Rs 190, CVD will hit foreign cement19 April 2007, Published under Cement NewsTurns out, imported cement may not be cheaper after all, if a government clarification to its own notification and the Finance Bill are anything to go by, according to DNA of India. The clarification specifically states that if the declared retail sales price of cement exceeds Rs 190/bag, countervailing duty (CVD, in lieu of excise) will apply. Logically retail price will have the same meaning as specified in the Finance Bill (including freight & other related items), wrote Urmik Chhaya an... |
Holcim Maroc net profit up 24 per cent19 April 2007, Published under Cement NewsMorocco’s Holcim Maroc Group increased its net profit by 24 per cent last year compared to the previous year on a construction boom in the North African country, its chief executive said. Its net profit was MOD439m (US$53.27m) in 2006 compared with MOD354m a year ago as turnover expanded 14 per cent to MOD1.9bn, Dominique Drouet said. Net profit per share was 24 per cent higher last year to MOD104 from the previous year. Holcim Maroc benefited from Morocco’s strong construction growt... |