Cement News tagged under: international
Local Banks Lend to Bim Son24 July 2006, Published under Cement NewsFive local Vietnamese banks will jointly give a loan of VND3.4 trillion (US$213.8m) to the Bim Son Cement Company to build a new production line, according to the contract signed between the two sides on July 21. The 11-year loan account for 83 per cent of the total investment capital required for the project, which stands at the VND4.1 trillion. When operational by the end of 2008, the new production line will turn out 2Mt of cement per year. The syndicated loan is offered by a group o... |
Indonesia’s cement sales fall24 July 2006, Published under Cement NewsThe country’s cement sales dropped 4.1 per cent to 14.46Mt in the first half of 2006 from 15.08Mt in the same period last year. Data from the association of cement producers (ASI) show that sales in Java fell 10 per cent to 8.54Mt from 9.45Mt. ASI chairman Urip Timuryono predicted the trend will continue for the rest of the year due to the declining purchasing power of the people. Oil prices remain high and the interest rates have not declined significantly as expected resulting in weak pur... |
Nigerian cement war affecting prices24 July 2006, Published under Cement NewsA fight among the cement industry’s major stakeholders over bulk cement import allocations has forced government to cancel the importation of some 2.5Mt of cement, and may have resulted in local prices soaring to an unprecedented N1500 (US$11.74) per 50k bag around Lagos and Abuja and over N1700 (US$13.30) in other parts of the country – local reporters claim. With local production, and import supplement totaling 6,940,000t, which is apparently far short of national demand approaching 10Mt,... |
More on the Mysore deal21 July 2006, Published under Cement NewsHeidelbergCement has acquired a majority stake of 51 per cent in the Bangalore-based Mysore Cement for US$100m. The buyout will be followed up by an open offer to acquire a further 20 per cent share in the company from the open market. The sale price puts Mysore Cement’s valuation at US$119.34 per tonne. In January, Holcim acquired a 14.8 per cent stake in Gujarat Ambuja for Rs 2100 crore, putting the Indian company’s valuation at close to US$200 per tonne. Less than 18 months ago, more pro... |
Holcim New Zealand looks at new plant options21 July 2006, Published under Cement NewsHolcim New Zealand has begun consulting Oamaru residents over its plans to consider building a US$200m cement plant near the suburb of Weston. "We are seeking resource consents for the Weston site, but first need to do further research and technical investigation, as well as consulting with members of the local communities," Holcim New Zealand’s Christchurch-based spokesman Paul Commons said. Holcim was also talking to people at nearby Windsor, the site of a possible sand quarry. The earlie... |
Lafarge moves closer to Harleyville expansion21 July 2006, Published under Cement NewsAbout 70 people gathered at the Harleyville Community Center Tuesday night for a public hearing organized by the S.C. Department of Health and Environmental Control, according to Plant Manager Rafael Menendez. "We have spoken with our neighbors, employees and citizens through the local area and are receiving strong support for this project," Menendez said. "Lafarge is pleased that many people, including the mayor of Harleyville, the Dorchester County Council, a state representative from Aud... |
Lafarge: Black empowerment deal21 July 2006, Published under Cement NewsLafarge has announced a R1.1bn (EUR 120m) Broad-Based Economic Empowerment (BEE) deal, in line with the South African Government policy to transform the country, redress past racial inequalities and broaden the country’s economic base. Lafarge is one of the first international companies to undertake such a deal. The value of the deal compares well with local industry benchmarks and is based on Lafarge’s strong development and performance in this market since its arrival in 1998 and its high... |
Secil boosts Angolan sales21 July 2006, Published under Cement NewsSales from the Tecnosecil cement factory in the port city of Lobito, Angola, increased by 61 per cent last year to reach a value of Euro 13.4m due to expansion in the construction sector fuelled by Angola’s post-war reconstruction, industry sources said. Sales by volume rose 45 percent to 107,000t, more than double the 43,000t registered in 2003. Pre-tax profits of the Lobito venture were Euro 1.94m, over seven per cent more than the year before. Investment in the Tecnosecil factory was Eu... |
Semen Gresik: local cement sales increase20 July 2006, Published under Cement NewsIndonesia’s largest cement maker PT Semen Gresik’s first half to June domestic cement sales grew 3.4 per cent year-on-year to 6.91Mt from 6.68Mt a year ago, according to a report from the Indonesian Cement Association (ASI). However, its exports in the first half dropped 33.2 per cent to 586,609t from 878,530t a year earlier. The company recently cut its forecast growth for nationwide cement sales this year to a slower 4.5 per cent from the previously more bullish projection of 6.0 per... |
ACC Q2 net profit soars20 July 2006, Published under Cement NewsAssociated Cement Companies (ACC) posted a sharp growth in net profit for the second quarter as firm prices and gains from a non-operating transaction boosted the profitability of India’s second largest cement maker. ACC’s net profit of Rs 406 crore for the quarter ended June 30, ’06 includes an exceptional item of Rs 146 crore from company’s land sale. The company’s sales grew 29 per cent to Rs 1462 crore in the same period. During the period, ACC also sold certain non-core activities ... |