Cement News tagged under: international
Court rejects Russia Partners claim17 May 2006, Published under Cement NewsThe Moscow Arbitration Court rejected Tuesday a 3.35 billion ruble lawsuit filed by US-based investment fund Russia Partners against Russia’s Eurocement Group. The court rejected the lawsuit as it was drawn up in such a way that contradicted Russian law. Russia Partners is seeking compensation for alleged profit stripping by Eurocement Group. The investment fund filed the lawsuit through two of its subsidiaries, Kolden Holdings Ltd and Serpell Holdings Ltd, which hold a 44.4 per cent ... |
No effective way to curb cement prices17 May 2006, Published under Cement NewsShort of bringing Indian produced cement under the Essential Commodities Act which would be seen as "too anti-free market" there is no other way to meaningfully and effectively control the retail price of cement in a sustained way, said industry experts. Cement manufacturers might drop their price, but there are close to 70,000 retail outlets across the country. When there is such a demand as of now, the prices at which the retailers sell will follow market dynamics and cannot be contro... |
Construction pushes up production in Tanzania17 May 2006, Published under Cement NewsConstruction of houses and other infrastructural facilities in Tanzania have pushed up cement production, reaching 35,000 tons in the first quarter of this year, local media reported on Wednesday. The quarterly production was a 9.2-percent increase upon the previous three months, according to figures released by the East African Cement Producer Association - Tanzania Chapter. In 2005, Tanzania produced 1.6Mt of cement through its three cement plants that combine to boast of an annual produc... |
Southern firms to hike cement prices17 May 2006, Published under Cement NewsGoing against instructions from the commerce ministry to reduce cement prices, companies in the south have actually hiked prices, saying that prices will always remain a function of the demand and supply dynamics. All those stern warnings of Commerce Minister Kamal Nath to cement companies haven’t fazed those companies one bit. Cement prices in Tamil Nadu and Kerala will increase by Rs 5/bag on May 19, while a second hike by Rs 5/bag will come into effect on June 1. "Cement prices are a fun... |
IFC offers loan to Chinese cement producer17 May 2006, Published under Cement NewsThe International Finance Corporation (IFC), the private sector arm of the World Bank Group,signed a US$50m loan agreement with Shanshui Group, a leading cement producer in east China’s Shandong Province. IFC said the loan will be used by the cement group in debt restructuring and for installation of energy efficient technology. Lars Thunell, IFC executive vice preisdent, said Shanshui Group’s investment in environmentally friendly technology should serve as a model for other companies in k... |
Cotu warns EAP over lay-offs17 May 2006, Published under Cement NewsThe umbrella workers’ union yesterday accused a local cement manufacturing firm of arbitrarily dismissing 115 workers. Cotu secretary general, Francis Atwoli, accused the management of the Athi River-based East African Portland Cement Company of allegedly turning almost all its staff into casual workers, "fundamentally negating the principal of a Kenyan-owned firm, which should be creating jobs for its people." Mr Atwoli added: "Besides, it is absurd that the managing director, Mr Zakayo... |
Indian prices under official pressure16 May 2006, Published under Cement NewsUnder pressure from the government, cement companies on Monday decided to offer five per cent discount on ruling prices to Central government departments. Central government purchases account for 10 per cent of the total cement output. The companies also agreed to maintain the current price level and not increase cement prices in the near future. The decision was taken at a meeting between commerce and industry minister Kamal Nath and major cement companies. Coming out from the meeting, Mr... |
Cement companies to work at full capacity16 May 2006, Published under Cement NewsThe cement cartel has decided to eliminate quota among local cement manufacturers ands cement manufactures have decided to utilise 100 per cent of their production capacity, according to sources in the Pakistan cement industry. Presently, the local cement factories are running at around 80 per cent to 86 percent capacity utilisation, and it has been decided to take the capacity utilisation to 100 per cent in order to keep prices down or at the current levels and to prepare for the competiti... |
Tarmac plans to make more of mortar, UK16 May 2006, Published under Cement NewsTarmac in the UK is announcing plans to invest more than UK£20m over five years in the strategic development of its national mortar business in a move that will transform the UK mortar market. In the first phase of this investment, Tarmac has invested in the expansion of its Dry Silo Mortar (DSM) business, with the creation of a fifth DSM plant at Colchester Quarry. The company is also investing in the development of a further plant south of the Thames and construction is expected to start ... |
YTL Cement on firm foundations, Malaysia16 May 2006, Published under Cement NewsResilient earnings and high dividends have kept YTL Cement Bhd shareholders smiling in the last five years, in the face of plunging cement prices and industry-wide losses. Between 2001 and 2005, YTL Cement paid 45 sen in dividends and saw its share price more than quadruple in value. YTL Cement is the lowest cost cement producer in the country and demand from its sister construction and property development companies, say analysts, are the main reasons for the company’s steady showing. ... |