Cement News tagged under: international
BoI fines Taiheiyo18 November 2005, Published under Cement NewsThe Philippine Board of Investments (BoI) has revoked the certificate of registration of Taiheiyo Cement Philippines Corp (formerly Grand Cement Manufacturing Corp) and slapped the firm with over P1.1 million in penalties for its late disclosure in 2005 that Japanese nationals own 88 per cent of the company since April 2001. Through Board Resolution No. 28-25 S-2005, the BoI said it resolved to cancel the cement firm’s BoI registration due to its alleged failure to maintain the mandatory ... |
Swiss want to set up cement plants18 November 2005, Published under Cement NewsThe Ambassador of Switzerland to Pakistan, Dennis Filed Mayor, has said that Swiss businessmen are keen to invest in various sectors of Pakistan and particularly in Balochistan. During a meeting with Balochistan Chief Minister Jam Mir Mohammad Yousuf on November 16, the Swiss envoy expressed great interest in investment opportunities in the country. They also discussed foreign investment issues in the province and reviewed the possibility of making investment in various sectors. "Swis... |
Grasim, Lafarge in race for UP cement unit18 November 2005, Published under Cement NewsGrasim and Lafarge are apparently set to compete for the assets of the UP State Cement Corporation (UPSCCL). They have competed earlier also, the only difference being that this time they are not alone. There are two others in the fray. These are Dalmia Cement and Jaypee Industries, turning the battle into at least a triangular contest, if not a four-cornered one. The reserve price for auction has been kept at Rs 271 crore, which is Rs 40 crore higher than the price at which the previous dea... |
CP Cimento mulls partial sale17 November 2005, Published under Cement NewsBrazil’s seventh largest cement producer, CP Cimento has hired investment bank Goldman Sachs to find a buyer for part of its business, newspaper Valor Econômico reported. The reason behind the decision is due to pressing short-term debt, which at June this year reached 500m reais (US$228m). The company is believed to be worth US$500-600m, the paper said. In October ratings agency Standard & Poor’s (S&P) downgraded its rating on CP Cimento’s corporate credit to brBB+ from brBBB, with a ne... |
Indonesia’s Oct cement sales down17 November 2005, Published under Cement NewsIndonesia’s domestic cement sales volumes, an indicator of economic activity, fell 6.1 per cent in October to 2.78Mt from a year earlier, the country’s largest cement maker said on Wednesday. State-controlled PT Semen Gresik Tbk gave no reason for the decline when issuing the data, but the drop comes at a time of sharply rising inflation and interest rates in Indonesia. Domestic sales for Gresik, 25.5 per cent owned by Cemex, fell 11.7 per cent to 1.18Mt. Including exports, its sales we... |
Cement consumption in Spain up17 November 2005, Published under Cement NewsCement consumption in Spain rose by 4.98 per cent year-on-year to 42.2Mt in the first 10 months of 2005, the Spanish cement makers association Oficemen said on November 15, 2005. Cement consumption in the 12 months to October 2005 totalled 49.95Mt, up 5.7 per cent year-on-year. Cement output in Spain stood at 41.2Mt in the first 10 months of 2005, rising by 5.6 per cent year-on-year. Cement production increased by 5.5 per cent year-on-year to a total 48.8Mt in the 12 months to October 2... |
New cement factory to be set up in Abu Dhabi17 November 2005, Published under Cement NewsA new Dh 200m (US$54m) cement plant will be set up in Abu Dhabi, local investors revealed as reported by a local daily on Wednesday. The Abu Dhabi-based Al-Ittihad Arabic daily quoted Abdulrazzaq Mohammad Al Mohammad, Managing Director of the factory, as saying, " the factory signed a contract with an Austrian-German joint venture company in order to build the factory, the construction of which will take approximately 13 months and will be ready for commissioning by the fourth quarter of next... |
Cruz Azul starts new plant construction in Mexico16 November 2005, Published under Cement NewsMexican cement maker Cruz Azul and Polysius, a unit of German heavy industry giant ThyssenKrupp, started the construction of a cement plant in Palmar de Bravo, eastern Mexico, on a 575 hectares area, almost half of which is located in the Tehuacan-Cuicatlan biosphere reserve, it was reported on November 15, 2005. Cruz Azul has asked authorisation for an environmental impact studies for 195.6 hectares of the area, located outside the protected zone, according to Jose Antonio Diaz Garcia, a... |
Indonesian cement consumption16 November 2005, Published under Cement NewsCement consumption in Indonesia rose 6.2 per cent in the ten months to October to 26.80Mt from 25.25Mt consumed in the same period last year, according to the Indonesian Cement Association (ASI). Over the same period, cement exports grew 5.3 per cent to 2.75 mln tons, the ASI said in a report. In October alone, domestic cement consumption dropped 6.1 per cent year-on-year to 2.78Mt while exports fell 35.9 per cent to 190,413t. Among the major markets, cement consumption in Jakarta increas... |
Cement industry needs more workers16 November 2005, Published under Cement NewsVietnam’s cement industry is estimated to need around 10,000 workers to operate production lines between now and 2010, according to the Vietnam Cement Corporation (VNCC). Of the total, engineers account for some 3500 or 35 per cent of the workforce and the remainder are technical workers. The corporation said the cement industry’s workforce demand will increase in the years to come when many cement projects that are now being implemented become operational. To ensure the workforce for... |