Cement News tagged under: international
Enlarged Buzzi Unicem sells 6.1Mt of cement in first quarter17 May 2004, Published under Cement NewsThe first quarter turnover, consolidating Dyckerhoff for the first time, shows a 2.6% pro-forma decline to €544.9m, though when measured in local currencies there was an advance of 2.9%. Margins improved markedly as the operating profit at the EBITDA level rose by 8.1% to €95.5m, which represents an increase in local currency terms of 15.0%, and the trading profit shot up from €24.1m to €39.4m, a jump of almost 45%. The gearing level at the end of March stood at 71%. Cement deliveries dur... |
Grasim’s open offer in CemCo17 May 2004, Published under Cement NewsGrasim Industries, a part of the AV Birla Group, will make an open offer to shareholders of Ultra Tech CemCo, the demerged cement business of Larsen & Toubro (L&T), at a price of Rs. 342.60 per share. Grasim will offer to purchase up to 3.73 crore fully paid up equity shares of Rs. 10 each aggregating 30 per cent of the share capital of CemCo from the latter’s shareholders. The open offer issue will open on June 6 and close on June 21. D D Rathi, Group Executive President and Chief Finan... |
Chinfon cement to invest extra US$162m17 May 2004, Published under Cement NewsThe Chinfon Cement Haiphong Co, a joint venture between Vietnam and Taiwan’s Chinfon Group, said Monday its plan to invest another US$162m to double the capacity of its factory in Vietnam has been approved by the government. The money will be spent to build a second cement production line in Chinfon’s factory in the northen port city of Hai Phong. The factory’s current line is able to turn out 1.4Mta cement. The new funds will bring total investment by Taiwan’s Chinfon Group in the company t... |
Yasuj cement factory opened17 May 2004, Published under Cement NewsThe Yasuj Cement Factory with a production capacity of 700tpd of gray cement was inaugurated on May 16. Located 25 kilometers from Yasuj-Gachsaran road the inaugural ceremony was attended by the speaker of the Sixth Majlis Mahdi Karrubi and some provincial officials. The construction of this factory by domestic technicians and specialists is projected to save US$11m in foreign currency exchange per annum. The report added that the cost of establishing the factory was almost Rls.200 billion an... |
Cement Firm’s Objection Questioned14 May 2004, Published under Cement NewsRio Grande’s Tijeras plant in New Mexico faces stricter environmental pollution control legislation. Local public hearings in Bernalillo County have discussed the proposal to bring local ambient air quality standards in line with those required by the US Environmental Protection Agency since 1997. Brian McGill, environmental manager for Rio Grande Cement, said he’s not aware of another county in the United States that has adopted the challenged EPA emissions standards. Federal law requires s... |
Boral’s cement bid still alive14 May 2004, Published under Cement NewsBoral has refused to concede defeat in its $1.07 billion takeover bid for Adelaide Brighton, defying the Australian Competition and Consumer Commission by keeping its offer on the table. Investors were less confident, however, as Adelaide Brighton shares slumped 21 per cent in response to the competition watchdog’s rejection of the bid. In a further sign Boral may contest the decision in the Federal Court, the company said the offer to AdBri shareholders remained and it would give the ACC... |
Strong start to 2004 at Holcim14 May 2004, Published under Cement NewsHolcim has reported a good first quarter performance from all its geographical regions, with the strongest volume improvements coming from Europe and North America, where the first quarter results tend to be considerably influenced by the weather. Turnover rose by 11.9% to Sw.Fr.2,760m, which represents a 12.3% increase in local currency terms, or +20.8% in US dollars but only +4.8% in euros. The operating EBITDA advanced by 16.2% to Sw.Fr.694m. Sales of cement and clinker during the quar... |
Andhra’s mini-cement plants14 May 2004, Published under Cement NewsMini-cement plants in Andhra Pradesh, India recorded a growth of 14.23 per cent in despatches during the financial year 2003-04. The despatches inclusive of supplies to other states were 1.958Mt during 2003-03 and 1.714Mt in 2002-03. Exports to other states amounted to 300,000t last year. A mini cement plant in India is one having a total installed capacity of not exceeding 900tpd although most are below 500tpd. They are given concession in excise duty due to their economic benefits for the ... |
VNCC on price control14 May 2004, Published under Cement NewsThe Viet Nam Cement Corporation (VNCC) said it has had no intention of raising cement prices for the time being. However its Vice Director General Le Van Chung told Viet Nam News Agency that the VNCC reconsiders its pricing policy if the Viet Nam Coal Corporation goes ahead with its decision to increase coal prices in June. The Viet Nam Coal Corporation announced it will increase coal prices from 369,500 VND per tonne to 435,000 VND from June 1st, the fifth price rise in the last five year... |
L&T cement business demerger14 May 2004, Published under Cement NewsLarsen and Toubro said a formal scheme for demerging its cement business would come into effect from Friday 14th May 2004. Under the proposal, L&T would separate its 16.5Mt cement division into a different entity UltraTech Cemco, where it would divest 8.5 per cent stake to A V Birla group company Grasim Industries. Grasim Industries, which holds minority stake in the demerged company, would then make a public offer for additional 30 per cent stake in CemCo. The scheme of arrangement for... |