Cement News tagged under: international
Cement shortage becoming increasingly serious13 June 2005, Published under Cement NewsSpeaker of Parliament Sheikh Abdullah bin Hussein revealed on Saturday a presidential order to end cement price escalations resulting from high demand. Yemen has been suffering a cement shortage as demand has increased dramatically due to an augmentation in the building industry, particularly in the major cities, since last year. The cement shortage peaked at the beginning of this year when the price of a 50kg bag rose to YR1, 200 on the black market. Government-run cement corporation... |
China’s cement production plant in Hamedan13 June 2005, Published under Cement NewsPreliminary agreement on the construction of a cement production plant in Iran’s western city of Hamedan was signed between the mayor of the city and the representative of the Chinese company CNEEC. Given the abundance of raw materials in the vicinity, there exist good conditions for implementation of numerous projects in the region, noted Hamedan Governor General Zabardast, Iranian Students News Agency (ISNA) reported. He also said other projects in the region including steel producti... |
Italcementi to buy stake in Egypt cement firm13 June 2005, Published under Cement NewsEgypt’s Arab-Suez Company for Engineering (ASEC) said on Sunday it had initialled a deal for Italy’s biggest cement firm Italcementi to buy its 68 per cent stake in ASEC Cement Co. Italcementi would offer to buy the stake and the remaining 32 per cent of ASEC Cement Co. through the stock exchange within two months of the deal’s initialling last Wednesday, ASEC Chief Financial Officer Ahmed Khalifa told Reuters. "They want to acquire 100 percent," he said. "The average price per share w... |
Rising cost could crush plan for cement plant13 June 2005, Published under Cement NewsAfter years spent fighting environmentalists and getting the necessary permits, Holcim Inc. says the sprawling cement plant planned for a site 40 miles south of St. Louis might never be built because of soaring construction costs. Planned for 3,900 acres on the banks of the Mississippi River in Ste. Genevieve County, south of the Jefferson County line, the plant was proposed in 2000 at an estimated cost of US$600m. Since then, prices for building materials such as steel and lumber, as wel... |
Sale of Acel shares by MRL cleared13 June 2005, Published under Cement NewsThe Delhi High Court has allowed Modi Rubber Ltd (MRL) to sell its holding of 23.1 lakh shares of Ambuja Cement Eastern Company Ltd (ACEL) to Holcim Cement Pvt Ltd. It has directed that proceeds of the sale be deposited in a non-lien account of IFCI Ltd, a secured creditor of MRL after obtaining directions from the Board for Industrial and Financial Reconstruction (BIFR). The Court has overruled objections raised by an unsecured creditor, Morgan Securities and Credit Pvt Ltd, to the sale. |
Cement shortage fears rise13 June 2005, Published under Cement NewsA booming construction industry is starting to strain Gulf contractors who are running short of cement supplies, according to Construction Week magazine. It comes as billions of dollars are being invested into the construction of new cement plants throughout the GCC. But that investment will not help to alleviate expected shortages in the coming months. In Oman, the price of cement has jumped by 25 per cent since January. Saudi Arabia has already been hit by massive cement price incre... |
Saudi Tabuk Cement Co, Qassim Cement Co plan joint plant10 June 2005, Published under Cement NewsSaudi cement producers Tabuk Cement Company (TCC) and Qassim Cement Company (QCC) have signed a memorandum of understanding (MoU) to carry out a feasibility study on a project which envisages the establishment of a cement plant in the northern part of Saudi Arabia, it was reported. The two companies will participate with equal stakes in the new project, the Saudi Stock Exchange said, without providing financial details. TCC, one of the eight listed cement companies operating in Saudi A... |
Egyptian National Cement Co reports US$11.4m net profit July 2004-Mar 200510 June 2005, Published under Cement NewsEgyptian cement producer National Cement Company (NCC) posted a net profit of 66.4m Egyptian pounds ($US11.4m/€9.4m) for the first nine months of the fiscal 2004/2005, ending June 30, 2005, up 260 per cent YoY With the addition of the 242.21m pounds (US$41.8m/€34.1m) resulting from the sale of shares in the local Suez Cement Company, NCC’s profit for the period July 2004 to March 2005 reached 308.64m pounds (US$53.3m/4€3.5m), the company said in a statement. NCC produced a total of 2.2... |
Greek Titan Cement targets expansion, considers Turkish market10 June 2005, Published under Cement NewsGreek cement maker Titan Cement considers entering the market of neighbouring Turkey as part of an expansion move, the company said. Titan Cement reiterated its forecast for a drop of between five per cent to nine per cent in sales on the Greek market in 2005, while sales on the US and Bulgarian markets are expected to register a growth. Sales in Serbia, Macedonia and Egypt are seen flat on the year. Greek brokerage Sigma Securities has recently upgraded its recommendation on Titan Cem... |
Chilean cement industry seen to register four per cent growth in 200510 June 2005, Published under Cement NewsChilean cement industry is seen to register a growth of four per cent in 2005 in comparison with 2004, the general manager of the Chilean cement maker Polpaico, Oscar Parada. Polpaico is controlled by Holcim. Polpaico will make investments totalling US$14m (€11.43) in 2005, Parada added. Polpaico has a market share of 34 pct on the local cement market at present. The cement industry in 2005 is expected to be boosted by the growing cement demand in the country in the last few months. Th... |