Cement News tagged under: international
CAF approves loan to Soboce05 July 2006, Published under Cement NewsThe Andean Development Corporation (CAF) has approved a US$25m loan to Bolivia’s largest cement producer, Soboce, CAF reported in a release. Local banks Banco Mercantil, Banco Nacional de Bolivia and Banco BISA will fund an additional US$19.5m.The funding aims to support the company’s growth plan - in which Soboce has invested over US$140m during the last years - and to improve the rates it is paying on its current debt. CAF first granted Soboce US$25m funding during 1990s to finance the exp... |
HeidelbergCement to build major cement works in Russia04 July 2006, Published under Cement NewsHeidelbergCement is taking a majority stake in a new venture being formed in Russia with local investor Wolga-Deutsche Business Group NCP. The joint venture will take control of an existing cement works on the Volga at Volsk that was known as Kommunar in Soviet days. The Volks works is located some 150km to south-west of Saratov and around 1000 to the southwest of Moscow and has a current annual cement capacity of 0.21Mt. A new cement works is to be built in Volsk by the joint venture for c... |
Russia’s Eurocement reaches settlement with antitrust body04 July 2006, Published under Cement NewsRussia’s largest cement producer Eurocement has reached a settlement with the Federal Antimonopoly Service (FAS) on antitrust charges, Eurocement’s lawyer Dmitry Afonasiev and FAS’ deputy director Andrei Tsiganov said. Details on the settlement, which was reached June 30, were not provided. In addition, the Federal Arbitration Court for the Moscow court district postponed from Monday until Friday hearings of a complaint filed by the FAS seeking to oblige Eurocement to cease alleged an... |
Cemex, Rajawali delay closing transaction04 July 2006, Published under Cement NewsDiversified business group Rajawali failed Monday to wrap up its purchase of most of Mexican-based cement giant Cemex SA’s stake in state-owned cement maker PT Semen Gresik (SG). The delay was due to the fact that the government had yet to conclude its negotiations with Cemex over a number of requirements that had to be satisfied before the former would be willing to give its approval to the sale, Rajawali managing director Daryoto Setiawan said. "Cemex has given the government unti... |
Baltsem Ends 2005 With UAH 11m in profit04 July 2006, Published under Cement NewsBaltsem, one of three largest cement producers in the Ukraine, ended 2005 with a net profit of UAH 11m. This was disclosed in the Top-100 rating made by Invest Paper. According to the rating, in 2005, the company increased net revenues by 61.8% or UAH 150.32m, compared to 2004 to UAH 393.75m. As Ukrainian News earlier reported, the company ended 2004 with a loss of UAH 27.3m increasing its net revenues by 25.1% or UAH 48.773m, compared to 2003 to UAH 243.433m. |
Mid Europa Partners Acquires 92.4% of Croatia’s Istra Cement04 July 2006, Published under Cement NewsPrivate equity firm Mid Europa Partners said it has bought 92.4% of Croatian cement maker Istra Cement from Germany’s HeidelbergCement for an undisclosed sum. "The contract for the deal was signed on Friday," said Robert Knorr, a director of Mid Europa Partners, who led the transaction. Besides Heidelberg Cement’s 92.4% stake in Istra Cement the transaction includes two trading units based in Germany and the United States. Mid Europa Partners said it would use its presence in Croat... |
Cement demand forecast to recover, Indonesia03 July 2006, Published under Cement NewsIndonesian cement demand is estimated to recover in the second quarter this year after in the first quarter of 2006 saw consumption dipping by five per cent compared to the same period last year. Marketing Director of publicly listed PT Semen Gresik Chabib Bahari disclosed that the decrease in cement demand in the past few months was only temporary and demand would recover in the second quater this year. "In the second semester, the demands for cement will increase again. I believe we can ... |
UAE ministry stops bid to raise cement price03 July 2006, Published under Cement NewsThe UAE Ministry of Economy has thwarted an attempt by the country’s cement producers to raise cement prices by Dh10 (US$2.72) per tonne. According to the Gulf News, the Ministry of Economy will soon hold a second meeting with the cement producers to discuss the intention of cement producers. Sources in the cement industry said the first meeting which was held between the two parties on June 21 failed to reach an agreement. Cement producers have been pushing for a price hike citing the inf... |
Aditya Birla group June cement shipment up03 July 2006, Published under Cement NewsIndia’s Aditya Birla group on Monday said its cement shipment in June rose 9.4 per cent on year to 2.47Mt. The group, including flagship Grasim Industries Ltd. and UltraTech Cement Ltd, produced 2.42Mt June, up 6.1 per cent from a year ago, it said in a statement. |
IFC agrees $35m Yemen cement loan03 July 2006, Published under Cement NewsThe International Finance Corporation, the private sector arm of the World Bank Group, has agreed a $35m loan to the National Cement Company in Yemen. The loan is to enable the construction of a greenfield cement plant at Al Anad, 70km north of Aden. The plant will have a capacity of 1.6Mta and the project is one of the largest private sector investments outside of the oil sector. |