Cement News tagged under: international
IFC, KKR consider buying stake in China cement maker13 March 2007, Published under Cement NewsPrivate-equity firm Kohlberg Kravis Roberts & Co. and International Finance Corp. may take stakes in a Chinese cement maker planning a US$720m expansion, according to a statement on IFC’s Web site. The statement, dated Feb. 14, said IFC, the World Bank’s private-sector investment arm, may take a stake in Henan province-based Tianrui Cement for up to US$30m to help it secure the long-term financing it needs to expand organically and through acquisitions. A deal would also include loans... |
India cement price freeze won’t cut coal demand13 March 2007, Published under Cement NewsCement makers attending the Coaltrans India coal conference in Mumbai said that they had been willing to cooperate with the government and freeze cement prices to curb inflation which has been fuelled by property boom. "Cement prices have already doubled during the past year and we are making a good margin at current prices," an executive of one major cement maker said. "We will continue to see extremely strong demand for cement, especially within India and therefore we will see increasing... |
Ciments Francais plans EUR1.5bn investments12 March 2007, Published under Cement NewsCiments Francais, a unit of Italian cement group Italcementi, plans investments worth EUR1.5bn (US$1.964bn) in the next few years to increase its production capacity and modernise its industrial equipment, in order to maintain a record high level of operating profits, the company’s chairman, Yves Rene Nanot, said. Ciments Francais will focus on geographical diversification and plans to set foot also on the Chinese market. The company closed 2006 with a net profit of EUR502m (US$65... |
Iran nominal cement production capacity to grow12 March 2007, Published under Cement NewsIran is planning to increase its annual nominal cement production capacity to 72Mt by the end of the Fourth Five-Year Socioeconomic Development Plan (2005-2010), Minister of Industries and Mines Alireza Tahmasbi said, MNA reported. However, he announced, the real cement production projections for the end of the nation?s development plan is something between 60 and 65Mta. Increased by 9 to 10%, the country’s production hit around 32.5Mt in the past Iranian calendar year (ended March 20, 200... |
Saudi tycoon sets up $19.5m cement firm in Ethiopia12 March 2007, Published under Cement NewsEthiopian-born Saudi magnate Sheikh Mohammad al-Amudi paid on Thursday 8 March close to US$19.5m on behalf of Derba-MIDROC (Muhammad Investment Development Research Organization Company) Cement Factory, a subsidiary company of MIDROC-Ethiopia, which has hired China National Building materials (CNBM) to build the largest cement factory in Ethiopia. Established with a capital of 2.4bn birr, Derba-MIDRIOC is the largest investment in the pipeline. Eighty per cent of the company is owned by She... |
Cimpor denies involvement in Brazilian cement/concrete cartel12 March 2007, Published under Cement NewsCimpor said that to the best of its knowledge it is not involved in any cartel to fix prices in the Brazilian cement and concrete business, currently under investigation by the authorities since March 8. This morning, Diario Economico reported that Cimpor runs the risk of losing EUR68m or 30 per cent of its 2005 sales, if it is found guilty of the accusations it is facing of price fixing in Brazil. |
Zenith Bank Wins Award for project finance, Nigeria12 March 2007, Published under Cement NewsRecognition for quality service came the way of Zenith Bank Plc again at the weekend with the award to the bank of the Year for its prominent role in the loan facility to United Cement Company Limited (UNICEM) based in Calabar, Cross River State. The award by Project Finance, a publication Euromoney is in recognition of the bank’s role in the loan arrangement that was hailed at the time as the boldest move to revive the production of cement in the country and help develop the Nigerian real ... |
Italcementi looks forward to another good year09 March 2007, Published under Cement NewsOn the back of a 17.1% increase in turnover to EUR5,854.1m, Italcementi pushed up the EBITDA by 26.2% to EUR 1,434.5m and the trading profit rose by 32.2% to EUR 1012.3m. Higher financing costs reduced the increase in pre-tax profit to 24.8% to EUR 918.3m and a higher tax rate left the net profit 20.5% higher at EUR 651.4m. Capital investment was 8.5% higher at EUR 504.0m, while a further EUR 269.2m were spent on acquisitions. The acquisitions consisted mainly of buying... |
Indian cement makers to hold prices for a year09 March 2007, Published under Cement NewsIndian cement makers have agreed not to raise prices for one year from Friday, Commerce Minister Kamal Nath said. "Cement manufacturers have agreed to hold the price line at current levels for one year. They have committed to absorb all input costs and levies," he told reporters. If there is a duty cut, cement manufacturers have agreed to pass it on to the customers, he said. |
Lafarge continues to reduce its Greenhouse Gas Emissions and Registers a Third ’’Clean Development Mechanism’’09 March 2007, Published under Cement NewsAn initiative launched by Lafarge in India with the aim of reducing its greenhouse gas emissions has been registered as a Clean Development Mechanism (CDM) by the CDM Executive Board, in line with the framework established by the Kyoto Protocol. The project, launched at Lafarge’s Arasmeta cement plant located in the Indian state of Chhattisgarh, involves replacing a proportion of the clinker (a component of cement) with fly ash, a by-product of coal-fired power plants. This proce... |