Cement News tagged under: international
Cemex unlikely to raise bid for Rinker02 April 2007, Published under Cement NewsExperts are becoming increasingly concerned about the likelihood of success for Cemex in its battle for Rinker Group, with a the brokering community generally believing that a share offer greater than US$13 per share will be needed. A deal which saw Vulcan Materials’ buy out Florida Rock last month for the equivalent of 11.3 times enterprise value has increased pressure on Cemex to raise its bid closer to the US$19.83 target price sharemarket analysts believe it can achieve. Deutsche Ba... |
CRH invests €210m in its Ukraine cement plant30 March 2007, Published under Cement NewsBuilding materials group CRH is to invest €210 million in a project to cut carbon emissions from its cement plant in Ukraine. The United Nations Joint Implementation Supervisory Committee (JISC) has registered CRH’s project to convert its cement plant at Kamenets-Podilsky in western Ukraine from a wet to dry process. CRH said it was the first joint implementation project to be registered by the committee and described the investment as a flagship project for the company in central a... |
ACC appoints Sumit Banerjee as Managing Director30 March 2007, Published under Cement NewsCement company ACC Ltd has appointed Sumit Banerjee as Managing Director, who will take charge on April 1. He would replace incumbent M L Narula, who will retire on March 31, and would serve as Managing Director till December 31 2011, ACC Chairman N S Sekhsaria said at the company’s AGM here today. Banerjee is currently the Chief Executive Officer (designate) and a director on the company’s board. Prior to joining ACC, he was Managing Director at Tube Investments of India Ltd. |
India lashes out at cement makers rising inflation30 March 2007, Published under Cement NewsIndia’s finance minister yesterday singled out cement producers for failing to support efforts to contain "politically unacceptable" levels of inflation that threaten to destabilise the country’s fast-growing economy. Annual inflation has climbed from 4 per cent last year to 6.5 per cent, with prices for politically sensitive foodstuffs, such as onions, rising faster. The rise has forced the central bank to increase interest rates, sparking worries -in the co-alition government ahead of ... |
Argentina construction activity Up 6.5 per cent YoY Feb 200730 March 2007, Published under Cement NewsThe construction activity of Argentina expanded 6.5 pct year-on-year and 2.4 pct month-on-month in February 2007, the national statistic institute INDEC said on March 28, 2007. The construction sector activity expanded 7.1 pct year-on-year in the first two months of 2007, INDEC said. The total area allotted for construction increased by 21.8 per cent YoY in February 2007, and in the first two months of 2007 registered a 19.7 per cent rise from the same period of 2006. Since the s... |
Thailand: SCC reduces stake in Siam Furukawa Co, Ltd30 March 2007, Published under Cement NewsSiam Cement Public Company Limited (or SCC) hereby announces that it has reached an agreement for a stake reduction in Siam Furukawa Company Limited (or SFC), from 29 per cent to 5 per cent, with the sale of the 24 per centstake to The Furukawa Battery Company Limited (Japan), an existing shareholder of SFC. This transaction is valued at approximately 100 million Baht and SCC is expected to record a net profit after tax gain of approximately 46 million Baht in Q1/07. This transaction is ... |
FFE Minerals Acquires Materials Handling Business of RAHCO International30 March 2007, Published under Cement NewsFFE Minerals, the minerals processing arm of FLSmidth, has acquired the materials handling business of US based RAHCO International, Inc., a world leader in the supply of mobile conveying solutions. The transaction, valued at approximately US$19.5 million, also includes RAHCO’s sales, design and service operation in Chile. The company will, from the effective date of 1 April 2007, trade under the name of FLSmidth RAHCO Inc. RAHCO designs, manufactures and services bulk handling s... |
BCA responds to BAA cement investigation29 March 2007, Published under Cement NewsRESPONDING to claims that the UK cement market is not functioning properly, the British Cement Association (BCA) has emphasized that, under the terms of the Cement Makers’ Code, signed by all UK cement manufacturers, its members are pledged to act competitively and within the full requirements of the law. The BCA’s response followed last week’s announcement by the British Aggregates Association (BAA) that it is to launch an investigation into the operation of the UK cement market followi... |
Semen Gresik to set up new holding company29 March 2007, Published under Cement NewsThe establishment of the holding state cement enterprise that will unite PT Semen Gresik, PT Semen Padang, and PT Semen Tonasa may be facilitated by IDR500 billion in taxes since the establishment process could be made through the transfer of Semen Gresik’s assets. The holding cement company, possibly to be called PT Semen Indonesia Tbk, is going to be created by transferring all assets of Semen Gresik to the new company. "The transfer of the assets can create tax obligations worth aroun... |
Lafarge re-launches Kumanga cement29 March 2007, Published under Cement NewsLafarge Portland Cement, Malawi major cement manufacturer, yesterday re-launched one of its products Kumanga Cement during a function in Blantyre where the company also drilled customers on how to use the product to get the best results. Kumanga Cement was initially launched in 2002 and enjoys about 20 per cent of the country’s construction market share. Lafarge general manager Sjoerd Grueter said due to Kumanga’s rapid growth, the company decided to help customers with proper product ap... |