Cement News tagged under: international
Indonesian government should stop interfering15 May 2006, Published under Cement NewsThe Indonesian government has not yet responded to Cemex SA’s decision to sell its stake in state-owned cement maker PT Semen Gresik (SG) to Rajawali Group, as it is still looking for ways to allow local administrations to have some of the shares. Vice President Jusuf Kalla told reporters Friday that the State Ministry for State Enterprises was still evaluating the offer and would come up with a comprehensive approach. Mexican-based Cemex recently signed a conditional sales and purchasing ... |
Italcementi set to buy 50 per cent in Zuari Cement12 May 2006, Published under Cement NewsIndia’s Zuari Industries is set to sell its 50 per cent stake in Zuari Cement to Italcementi for Rs 500 crore. The deal is expected to be finalised by the company’s board in its meeting on Saturday. Currently, Italcementi holds 50 per cent stake in Zuari Cement through its French subsidiary, Ciments Francais SA, France. The JV was inked in 2001. At that time, Zuari was a single-plant company with a capacity to produce 1.5Mta of cement. Later, it acquired Andhra Pradesh-based Shri Vis... |
Gresik ‘should get sale priority’, Indonesia12 May 2006, Published under Cement NewsState-owned Semen Gresik should get first refusal on purchasing shares in the local company being sold by Cemex, Indonesia’s Vice President Jusuf Kalla said Friday. The government has directed the Ministry of State-Owned Enterprises to ensure that Semen Gresik is prioritised as a potential buyer for Cemex’s proposed share sale ahead of any other firms, Kalla told reporters. "Cemex should offer the stake sale...to Semen Gresik first and then Semen Gresik has five days to decide," he ... |
Cement price update, Philippines12 May 2006, Published under Cement NewsCement firm Holcim Philippine Inc. has agreed to peg the retail price of a 40kg bag of cement at P178 here, the Department of Trade and Industry, regional office announced on Wednesday. The agreement came after Trade department and the cement firm monitored and observed a continuing increase in prices of some products, including cement, during the last two months due to shortage. |
India Cements signs deal for new plant12 May 2006, Published under Cement NewsIndia Cements Ltd, a private cement firm, has signed a deal with the Himachal Pradesh government today to set up a Rs 750 crore cement plant. The MoU was signed by representatives of both the parties. "The Chennai-based company will execute the Gumma-Rohana cement mines in the Chopal region some 100km from here," a spokesman of the state government said . "TS Raghupathy, senior president of India Cements Ltd, and Ashok Thakur, secretary, industries, Himachal Pradesh government, signed th... |
Cyprus sales increase12 May 2006, Published under Cement NewsAccording to the Statistical Service of Cyprus, total cement production increased to 155,000t in April 2006 compared to 149,000t in April 2005, up by 4.7 per cent. Local cement consumption decreased by 19 per cent YoY to 118,000t, while cement exports increased by 87.8 per cent compared to April 2005, reaching 11,000t. Data for the period January-April 2006 show that total cement production increased marginally by 0.8 per cent YoY to 578,000t. Local cement consumption decreased by 6.7 per c... |
Minister asks cement cos to bring down prices by Monday, India12 May 2006, Published under Cement NewsIndia’s Commerce & Industry Minister Kamal Nath Friday asked cement companies to come up with a proposal to reduce prices by Monday. "Government cannot and will not remain a silent spectator to this (rising cement prices)," Nath said at a meeting with cement manufacturers. According to a government study, average cement prices have risen 25% in the last four months. The retail price of cement has risen 62% since December to INR210 for a 50-kilogram bag due to burgeoning demand from the i... |
Five firms shortlisted in Uniland sale, Spain12 May 2006, Published under Cement NewsFive companies have been shortlisted for the sale of a 73.7 per cent stake in Barcelona-based cement maker Uniland, report local press. The stake is worth some EUR1.5bn and Lazard Ltd (LAZ) is advising Uniland on the operation, which is expected to be carried out before summer. The five companies include two Spanish firms - Fomento de Construcciones y Contratas SA’s (FCC) unit Portland Valderrivas, and Cementos Molins; a unit of Brazil’s Votorantim Celulosa e Papel (VCP); Greece’s Titan Ce... |
PPC planning further capacity boost, South Africa11 May 2006, Published under Cement NewsDouble-digit cement demand growth continues according to Pretoria Portland Cement Ltd (PPC) who released their interim results for six months to March. National demand growth of more than 13% over the comparable period last year has been spurred along by the buoyant domestic economy. The ongoing surge in building activity, especially in the residential sector, has been occasioned by the favourable interest rates. “Although the growth in the residential sector appears to be slowing slig... |
Cemex decision not in the national interest, Indonesia11 May 2006, Published under Cement NewsThe widely publicised decision by Cemex, to sell its 25 per cent stake in publicly listed PT Semen Gresik (SG), Indonesia’s largest cement company, to local business conglomerate Rajawali isa very bad advertisement for Indonesia’s investment climate - reports the Jakarta Post. Questions should be asked about why Cemex, with cement operations in almost 50 countries around the world, decided to quit Indonesia when demand for building materials in the country is expected to skyrocket during ... |