Cement News tagged under: international
China’s Dongguan to close most cement plants23 February 2004, Published under Cement NewsDongguan city in the prosperous southern Chinese province of Guangdong has decided to close down 47 of its 48 cement plants to improve environmental conditions, Beijing Wen Wei Po reported. The city, a manufacturing base in the Pearl River Delta, will close 33 of the plants by the end of March and another 14 by the end of 2005, the paper said without disclosing its sources. The municipal government would pay 350m yuan (US$42.27m) in compensation for the loss of the plants, most of whic... |
Conch largest shareholder completes restructuring23 February 2004, Published under Cement NewsAnhui Conch Cement Co Ltd has said its largest shareholder, Anhui Conch Group Co Ltd, has been restructured into a joint-stock company with approval of the Anhui provincial government. State-owned company Anhui Investment Co Ltd holds a 51 per cent stake in Anhui Conch Group with total investment of 408m yuan, while Anhui Conch Investment has a 49 pct interest with total investment of 392m yuan. Anhui Conch Group still holds a 49.57 per cent stake in the listed company. |
Philippine Cement companies told to reduce prices23 February 2004, Published under Cement NewsThe Department of Trade and Industry (DTI) has given cement firms until end of the month to toe the line by reducing their prices to reasonable level otherwise a decision would be issued reducing the safeguards tariff to a level that would encourage entry of imported cement. This developed as the National Price Coordinating Council, which is chaired by Trade and Industry Secretary Cesar V Purisima, noted that the price reduction in cement prices was not acceptable. "If it does not impr... |
Indian cement demand to grow 7-8 per cent in medium-term23 February 2004, Published under Cement NewsThe Indian cement industry, which has been witnessing a surplus position for a long time, is likely to see a decline in the extent of the surplus in the immediate to medium-term. This will be more pronounced in the northern and eastern regions as compared to the southern and western regions, according to a recent report by credit rating agency Icra. While this coupled with recent consolidation in the sector may suggest a price correction, Icra does not expect a significant change on the ... |
Regulators approve Holcim offer for Apasco23 February 2004, Published under Cement NewsMexican regulatory authorities have authorised the US$750m buyout offer from Holcim Ltd, the world’s No two cement firm, for the rest of its Mexican unit Holcim Apasco that it does not already own. Mexico’s Federal Competition Commission said it had approved the transaction "as long as it does not change the structure of the markets that Holcim Apasco SA de CV participates in." Swiss-based Holcim said on January 22 it would buy the remaining 31.1 per cent of the company it does not own... |
Ramco new plant23 February 2004, Published under Cement NewsRamco Industries is adding a sixth cement plant at Kharagpur in West Bengal to its five-strong cement plant network, three in Tamil Nadu and one each in Andhra Pradesh and Karnataka. The five plants together produce 60 lakh tonnes of cement. The Kharagpur plant, costing Rs20 crore, will produce 400tpd from April 2004. |
Memorandum of understanding for cement workers23 February 2004, Published under Cement NewsThe management and staff of the Caribbean Cement Company will this week meet with trade unions to begin working out details for a Memorandum of Understanding. The National Workers’ Union, the Union of Clerical and Supervisory Employees, and the Caribbean Cement Company Staff Association - which represent more than 150 workers - will be the players at this week’s meeting. The plans for the MOU were announced last week, on the heels of the historic signing of a similar pact between the G... |
Hanson’s profits hit by California and the dollar20 February 2004, Published under Cement NewsHanson PLC, the global leader in aggregates, generated a turnover of €5,723.5m, a decline of 1.1 per cent entirely because of the weakness in the US dollar. The operating profit at the EBITDA level emerged 7.1 per cent lower at €954.8m and the trading profit was down by 5.9 per cent at €673.7m and the running profit before tax fell by 8.7 per cent to €462.5m. Capital expenditure rose by 45.4 per cent to €301.2m, while €221m was spent on acquisitions, the biggest of which was the US$152m pu... |
Bamburi’s Pre-Tax Profit Falls20 February 2004, Published under Cement NewsKenya’s largest cement-maker has reported a 16 per cent decline in pre-tax profit for the year ending December 2003. Bamburi Cement Company, which is partly owned by Lafarge, is also reaping the effects of a price war with East African Portland for most of last year and a corresponding price freeze in the halting Ugandan economy. The profit before tax and minority interest was down from Sh2 billion to slightly over Sh1.7 billion. This was despite growth in turnover from Sh10 billion to Sh1... |
Holcim and HeidelbergCement to split Belgian concrete business20 February 2004, Published under Cement NewsAs first highlighted by ICR in October last year, HeidelbergCement and Holcim have now decided to split up the jointly owned ready-mixed concrete producer Inter-Beton and are currently negotiating how to divide up the 44 batching plants. It is the intention that both groups should end up with operations fairly evenly spread across Belgium. Inter-Beton is currently the largest ready-mixed concrete producer, but its market share has roughly halved from some 70 per cent thirty years ago to ar... |