Cement News tagged under: international
Indian cement companies have had a good run in Q312 February 2007, Published under Cement NewsCement makers continued their good run in the third quarter. The year-on-year net profits of companies rose 219% and net sales were up 47%. The combined net profit of the top 20 companies rose to Rs 2,212 crore in the quarter against Rs 694.5 a year ago. YoY net sales rose to Rs 12,285 crore from Rs 8,357. Operating profit (net of other income), a measure of industry pricing power, jumped 158% Y-o-Y to Rs 3,480.5 crore during December ’06, compared to Rs 1,350.4 crore a year ago. The gro... |
Court postpones hearing Russia Partners’ suit vs Eurocement Group12 February 2007, Published under Cement NewsThe Moscow Arbitration Court Friday postponed until March 22 hearings of a lawsuit filed by U.S. investment fund Russia Partners against Russia’s Eurocement Group over alleged profit stripping. Russia Partners’ affiliates Kolden Holdings and Serpell Holdings have accused Eurocement Group of stripping profits from Russian cement producer Eurocement in 2004. Eurocement Group holds 55.6% in Eurocement, while Kolden Holdings and Serpell Holdings hold a combined 44.4% stake. The investm... |
Cement price fixed at Rs.260 per bag in Pakistan12 February 2007, Published under Cement NewsFederal Ministry for Industry & Production has fixed the price of cement at Rs.260 per bag while Minister for Industry & Production Jehangir Khan Tareen has said that severe action would be taken against traders responsible for hoarding hike in cement price. He was talking to media after holding an important meeting with the All Pakistan Cement Manufacturers Association in Islamabad. Jehangir Khan Tareen said that the meeting was successful as the Government cleared on the manufacturers th... |
Contract signing with Lafarge imminent12 February 2007, Published under Cement NewsThe Azerbaijan Minister of Economic Development, Heydar Babayev, said on February 8, 2007 that the negotiations with the French cement producer Lafarge are already at the level of signing contract, Trend reports. According to him, the technical experts recently visited Azerbaijan and collected all necessary information. After concluding contract, the Company will begin the construction of the second cement plant in Azerbaijan and it will allow creating competition with the only cement produ... |
Buzzi boosted by Eastern Europe, Mexico09 February 2007, Published under Cement NewsBuzzi Unicem increased turnover by 8.6% to EUR 3205m in 2006, which represents an increase of 12.2% on a like for like basis. The net debt declined by 42.2% to EUR 610m at the end of December, compared with EUR 1,051m a year earlier. Cement deliveries rose by 3.3% last year to 33.3Mt, while ready-mixed concrete shipments advanced by 5.7% to 16.5Mm³. Italian turnover increased by 6.8% to EUR 1004.0m, as cement shipments, including exports, were helped by mild and dry weather in... |
Russian cement plant to boost output09 February 2007, Published under Cement NewsConstruction of a fifth processing line has been put underway at Sukholozhskcement, Russia to boost the plant’s capacity by 50%. This will allow the plant to produce around 3.6Mta of cement by 2009 |
Cemex Offers homebuying program to Mexican immigrants In US09 February 2007, Published under Cement NewsCemex (CX) is getting into the housing business, helping Mexican immigrants in the U.S. obtain mortgages and build houses in Mexico. After a pilot project involving 150 homes showed that its customers in the U.S. are comfortable turning to the cement maker to coordinate the process of building a home from start to finish, Cemex is launching a formal program with a goal of building 1,200 homes this year, Hector Ureta, the company’s director of social programs, said. "We are learning t... |
Lafarge completes raw material study in Azerbaijan09 February 2007, Published under Cement NewsRepresentatives from Lafarge have completed conducting cement market research and studying raw cement fields in Azerbaijan. Economic Development Minister Heydar Babayev the company has collected required information to submit it to the management. "We await signing of the contract soon. Lafarge is likely to build a second cement plant with a capacity of 1Mta" said the minister. The project value is estimated at around EUR100-150m, according to him. |
India cement prices may fall from mid-200709 February 2007, Published under Cement NewsCement prices, which rose sharply in 2006, is expected to start declining from the second-half of 2007, due to capacity-addition, according to credit rating agency Fitch. ‘‘Fitch expects prices to start softening from the second half of calendar year 2007, driven by capacity addition which are expected to go on stream during next fiscal year and 2008-09,’’ the agency said in a release. Fitch estimates capacity expansion to be large during FY08 and FY09, with most of the burden on operating... |
Pakistan contractors give government two weeks to cut cement prices09 February 2007, Published under Cement NewsWhile blaming the manufacturers of forming cartel for increasing the cement prices, the All Pakistan Contractors Association (APCA) has given the government two weeks deadline to bring cement prices at Rs 180 per bag and avoid halting of construction work at development projects. APCA Chairman Engr Ahmed Ghazal Usmani, who was flanked by his 12-member team, told a press conference here that the contractors would stop work on all development and other projects if the government did not fu... |