Cement News tagged under: international
Senate proposes cement futures market to resolve price war, Colombia06 September 2005, Published under Cement NewsCemento Andino recently launched legal action against Holcim, Cemex and Argos, accusing them of selling their products at artificially low prices to damage competitors and eventually enable them to buy them out. During the meeting, Cemento Andino president Federico Molina repeatedly asserted that current cement prices in Colombia do not even cover production costs, so smaller domestic companies will certainly go bust if the situation continues unchecked. The big three companies, wh... |
Cement companies may cash in on export boom06 September 2005, Published under Cement NewsCement companies that have milked gains from the current rosy export scenario may have to make all the hay they can while the sun still shines. Mr Kumar Mangalam Birla, Chairman of UltraTech, one of the larger beneficiaries of the export boom, did not mince words when talking of the future at the company’s AGM last week. UltraTech had recently reported bumper export sales. "The export boom to the West Asia is subject to commissioning of over 30Mta new capacity in that region over the... |
Cement producers appeal SC decision06 September 2005, Published under Cement NewsThe Cement Manufacturers Association of the Philippines has asked the Supreme Court to look into its final decision last month declaring the safeguard measures against imported gray Portland cement illegal. Last Aug. 3, the SC affirmed with finality its previous decision voiding the provisional measure of P20.60 per 40 kg bag that the Department of Trade and Industry imposed on imported gray Portland cement for three years, starting November 7, 2001. In its ruling, the high court sai... |
Firm warns of slump; as cement profits fall05 September 2005, Published under Cement NewsThe mainland’s cement sector should brace for a slump in the next two years in the wake of anti-inflation measures, China Resources Cement Holdings says. Expressing the group’s pessimism on the near-term prospects for the sector was vice-chairman and general manager Shi Shanbo, who cut the cement maker’s full-year sales target after a 96.36 per cent slump in net profit to US$1.53m in the six months to June. He said the industry could slip into losses after recording a 76.5 per cent ... |
YTL Cement buys Singapore rival05 September 2005, Published under Cement NewsYTL Cement Bhd, a cement producer that is a unit of YTL Corp Bhd, has agreed to buy a fifth of Singapore rival Jurong Cement Ltd (JCL) as it seeks to grow its business abroad. The deal comes as YTL Cement expanded its local operations by buying over competing cement makers and turned associates into subsidiaries amid a sluggish construction sector. "The proposed acquisitions will enable YTL Cement to develop its presence and market share in the cement industry in Singapore and China... |
Italian Italcementi Mulls Asia Expansion - Chairman05 September 2005, Published under Cement NewsItalian cement producer and distributor Italcementi is studying expansion in Asia, the company’s chairman Giampiero Pesenti said. Italcementi’s expansion target for Asia includes acquisition of local companies, Pesenti added. The Italian cement group, which is already active in India and Thailand, is currently considering setting foot in other Asian countries as well. Italcementi also targets to expand its cement facility in India, Pesenti said. Italcementi’s takeover bid for Egyp... |
Romania Buys 49% of Thermo Eco Rec05 September 2005, Published under Cement NewsHolcim Romania, a unit of Swiss cement company Holcim Ltd, has bought a 49 per cent stake in the local waste recycling company Thermo Eco Rec from Austrian company REP die Recycling und Entsorgungs Profis for an undisclosed sum. The Austrian company held 51 per cent in Thermo Eco Rec. Thermo Eco Rec was set up in 2004 and specialises in recouping, collecting and sale of all recyclable non-metal waste. Holcim Romania processes over 100 types of waste in its cement plants in Campulung an... |
Shiva Cement gets nod for debt revamp plan05 September 2005, Published under Cement NewsThe Rourkela-based Shiva Cement Ltd has received in-principle approval for its debt restructuring plan from its consortium leader, IFCI Ltd. The other lenders ICICI Bank, Bank of India, Bank of Baroda, Allahabad Bank and others have already cleared it. The company’s debt restructuring proposal was approved in December 2004. With the formal approval of the consortium leader, the debt restructuring exercise is almost complete. "With sanction from IFCI, the company is inching towards... |
Binani to sell 25% of cement arm to investor05 September 2005, Published under Cement NewsBinani Industries Ltd. said on Friday it would sell 25 per cent in subsidiary Binani Cement Ltd to a foreign investor and swap up to 50 per cent of its own shares for a holding in Binani Cement and Binani Zinc. "Consequent to such swap, shareholders of the company will receive shares of Binani Cement and Binani Zinc, while their shareholding in Binani Industries will stand cancelled," the company told the stock exchange. Shareholders of Binani Industries will receive 25 shares each ... |
Spain Cementos Molins posts EUR41.6m net profit05 September 2005, Published under Cement NewsSpanish cement maker Cementos Molins posted a net profit of EUR41.6m (US$51.9m) for the first half of 2005, a 3.7 per cent YoY increase, the company reported. EBITDA totalled EUR73.7m (US$91.9m), an 8.7 per cent rise. Turnover of the company stood at EUR284.4m (US$354.8m), up 11.6 per cent. The revenue increase was attributed to higher sales of Cementos Molins’ foreign units, such as Argentine Cementos Avellaneda and Mexican Corporacion Moctezuma, as well as the increase in the company’s ... |