Cement News tagged under: international
Cemex divests investment in Cementos Bio Bio, Chile27 April 2005, Published under Cement NewsCemex announced that it has divested its 11.92 per cent interest in Cementos Bio Bio, S.A. for approximately US$6 m or an implied enterprise value to EBITDA of nine times. The proceeds from the sale will be applied towards debt reduction and the extraordinary gains from this transaction will be reflected in net income. Cemex acquired this holding for US$34m in June 1999. |
Japanese cement sector outlook ’stable’27 April 2005, Published under Cement NewsThe general outlook for the Japanese cement sector continues to be stable, comments Moody’s Investors Service in a new report. The Moody’s-rated sector companies’ capital structure improvement is set to continue, it notes; however, the pace may slow due to ongoing challenges in the operating environment, and risks associated with overseas expansion are growing in importance. Remarkable improvements in sector operating performance in the fiscal year to March 2006 are unlikely, notes the r... |
Indonesia’s Semen Cibinong to raise production, reduce exports27 April 2005, Published under Cement NewsIndonesia’s PT Semen Cibinong aims to produce 7.25Mt of cement this year, up from 6.22Mt in 2004, its president Timothy David Mackay said. The company has set aside US$30m to expand its production capacity, Mackay said. He said the company has reduced its export target to 1.5Mt this year from 2Mt last year as the price of cement has declined in international markets. He said to make up for an increase in production cost as a result of the rise in the price of coal fuel, the compan... |
GCC profits fall 17 per cent on domestic construction slowdown27 April 2005, Published under Cement NewsMexican cement maker Grupo Cementos de Chihuahua reported a MXP124m(US$11.2m) net profit in the first quarter of 2005, dropping 17.1% from 1Q04, company CEO Manuel Milán said during a conference call. Cement sales in the US increased 11% in volume during the quarter. Combined with an average 7% price hike, revenue grew 22.7% over the same period to MXP367m in the US, he said, which "boosted top-line performance." However, in Mexico there were fewer working days due to the Easter holida... |
Polimix invests R$70m in new cement plant27 April 2005, Published under Cement NewsThe Brazilian Polimix Concretos is investing R$70m until the end of 2006 in a cement plant with a capacity of 1.2mil mtpy in Rio Branco do Sul (Parana) to supply the domestic market. The plant is being designed with technology developed in the country and with modern equipment imported from China. Investments in the acquisition of equipment demanded R$20m. Polimix has three industrial cement sites in Brazil and 130 distribution facilities. The Sergipe-based unit, for instance, has a capacity... |
Cemex Asia keen to build cement factory in Indonesia26 April 2005, Published under Cement NewsCemex Asia Holdings Ltd said it wants to invest in Indonesia’s cement industry to help the country cope with a cement supply shortage expected in 2007-2008. Minister for State Enterprises Sugiharto said Cemex, which still has an unsettled dispute with the government over state-owned cement maker PT Semen Gresik, has conveyed its interest to the government. Sugiharto said the move shown by Cemex could be a sign that it would drop its lawsuit filed with an international arbitration... |
TCL plans US$220mn expansion projects , Caribbean26 April 2005, Published under Cement NewsThe Caribbean’s leading producer of cement and ready-mix products, TCL Group, expects to spend up to US$220mn to expand operations at its subsidiaries throughout the region, Daily Nation reported. The bulk of TCL’s investments will be to double cement production to 1.2Mta at Jamaican subsidiary Caribbean Cement (CCC). The estimated US$120m capital expenditure program for 2005-2009 in CCC includes upgrading furnaces to increase clinker manufacturing capacity, upgrading current cemen... |
Cement prices go up 3% on housing boom, India26 April 2005, Published under Cement NewsDomestic cement companies raised prices in Mumbai by about three per cent as a housing boom and government spending on roads and bridges fueled demand, distributors said. Shares of cement companies gained. Companies including ACC raised prices by about Rs 5 a 50kg bag, said Nikesh Shah of Harjivandas Mohandas & Co, which sells its cement. Associated Cement raised prices to about Rs 177 ($4) a bag, he said. Prices of cement are rising because of an increase in demand for homes spurre... |
St Lawrence Cement abandons Greenport construction25 April 2005, Published under Cement NewsAfter the negative determination from the New York State Department of State (DOS) the board of directors of the Canadian Holcim Group company has decided not to pursue the project to build a new cement plant in Greenport,New York State. The company continues to produce and distribute cement for the market region New York from Catskill, located only a few kilometers from the planned new cement plant. According to a media release of St Lawrence Cement the accrued project costs of CAD 37m w... |
Cemex names new CEO of Croatian arm25 April 2005, Published under Cement NewsCemex has appointed Juan Carlos Ernesto Rincon Restrepo as chief executive officer of its Croatian subsidiary Dalmacijacement. The new CEO will replace Vinko Janjak, who is retiring, Dalmacijacement public relations officer Morana Mratovic told SeeNews. The change comes after Cemex completed the acquisition of U.K.-based RMC Group, the Croatian cement manufacturer’s parent company, last month. Dalmacijacement’s net profit for 2004 fell 29 per cent to 150.7 million kuna (US$26.7m). |