Cement News tagged under: international
Investment in Guangxi cement plant fixed25 February 2005, Published under Cement NewsChina Resources Cement Holdings plans to inject 419 million yuan into a joint-venture cement plant in Guangxi province to boost output amid growing demand in the Pearl River Delta region. The capital injection, which aims at doubling the joint venture’s annual production capacity to 3.8Mt of cement, would allow the company to raise its interest in the project 17.5 per cent to 91 per cent, sources said. The deal underscores the group’s ambition to capture a bigger segment of the growing ce... |
Cement sector grows 3.07% in 200425 February 2005, Published under Cement NewsAfter having posted a negative result in 2003, the Brazilian cement products’ sector good results in 2004. According to data released by the Brazilian Cement Products Manufacturers Union (Sinaprocim) this Thursday, the sector’s companies ended 2004 with a R$ 4.533 bn revenue, up 3.07% compared to 2003. As a response to country’s economic rebound, the whole civil construction sector grew 5.7% last year against 2003. For 2005, the Sao Paulo State Construction Union (SindusCon-SP) forecasts a ... |
Titan Cement reports higher earnings25 February 2005, Published under Cement NewsTitan Cement Company SA, Greece said on Thursday that group operating EBITDA for full-year 2004 grew by 9.3 per cent to Euro323 million from a year earlier,with group net profit after minorities and taxes totalling Euro169 million, up 35%. Group turnover was Euro1,104 million, showing a 6.6% rise versus 2003, managementsaid in a statement.Operating results were adversely affected by a rise in the Euro in 2004,especially versus the US dollar. At constant exchange rates, turnover grew by... |
Orascom adds cement capacity24 February 2005, Published under Cement NewsOrascom Construction Industries announced that United Cement Company of Nigeria Ltd. (UNICEM) will construct a new greenfield cement plant with an annual production capapcity of 2.5Mt in Nigeria. UNICEM will be 70% owned by Egyptian Cement Company (ECC), a 53.7% owned subsidiary of OCI, and 30% owned Flour Mills of Nigeria Ltd., a well established local cement importer and distributor. The new plant will be located near the port of Calabar in Cross River State in southeastern Nigeria. UNI... |
Indonesia may study Mandiri stake sale24 February 2005, Published under Cement NewsThe government may study a proposal to divest a 10 per cent stake in PT Bank Mandiri to raise funds for settling its long-standing dispute with Mexican cement maker Cemex SA over a failed put option deal in PT Semen Gresik, Deputy State Enterprises Minister Roes Aryawijaya said. He made the comment in response to Bank Mandiri president ECW Neloe’s suggestion that the government should sell a further 10 per cent stake in the bank for funding a buyback of Cemex’s 25.53 per cent stake in Sem... |
China Resources Cement to expand capacity24 February 2005, Published under Cement NewsChina Resources Cement Holdings Ltd plans to invest 500 million yuan to double production capacity at its cement plant in China’s southern province of Guangxi, a source close to the deal said on Thursday. The investment will boost China Resources Cement’s stake in the Guangxi plant to about 91 per cent from 73.5 percent, the source said. Existing annual production capacity of the plant is 1.9 million tonnes, he added. Trading in the company’s share was suspended on Thursday, pending an annou... |
India Cements puts off AP units sale plan24 February 2005, Published under Cement NewsBuoyed by a heavy dose of funds from overseas investor Asia Debt Management, India Cements, South India’s largest cement manufacturer, has decided to shelve the plan to sell its Andhra Pradesh-based manufacturing units - Raasi Cement and Vishaka Cement - which have a combined capacity of 3.4Mt The ailing Chennai-based India Cements, which struck a deal late last year to raise Rs 655 crore through a mix of debt and equity by privately placing different financial instruments with the Hong Kong... |
Q & A session with Cemex’s Gilberto Perez24 February 2005, Published under Cement NewsIn a recent Houston interview, Gilberto Perez, the president of US operations for Cemex, gave a few insights into Cemex plans for its US operations Q: What’s the status of Cemex’s appeals to lift the dumping complaint against Mexican cement? A: I would not dare say the dumping issue would be resolved in the near future, but I would say that we are closer than we ever have been before. What we’re saying is that there has been a change in circumstances. We have invested more than anybody else... |
Siam City Cement looking to acquire stakes in local cement companies , Thailand23 February 2005, Published under Cement NewsSiam City Cement Plc (SCCC), the country’s second largest cement producer, plans to acquire stakes in other local cement makers, according to managing director Leo Mittelholzer, according to local press. "We are continually looking for business opportunities to acquire some stakes in the companies that are involved in our core businesses," he said. Mr Mittelholzer declined to comment directly on market rumours that SCCC was considering acquiring Jalaprathan Cement, a ready-mixed conc... |
Cementos Argos investment, Colombia23 February 2005, Published under Cement NewsColombia’s largest cement producer Cementos Argos invested US$15m in capacity increases in 2004, the company said in a statement. Cementos Argos also constructed a port in Savannah, Georgia, USA, with a capacity of 800,000t, and acquired three ships with a capacity of 25,000t each and launched programmes for the improvement of electricity supply to its facilities. The capacity of Cementos Argos’ ground vehicles increased to 700,000t in 2004. The company also started the construction... |