Cement News tagged under: international
Siam City Cement’s 2003 results13 February 2004, Published under Cement NewsThailand’s second biggest cement maker, Siam City Cement, reported lower fourth-quarter profits on Friday as expected after a stronger baht and higher shipping fees ate into exports. But the company, 32 percent owned by Swiss giant Holcim, still made a record full-year operating profit in 2003 due to higher cement prices during a house construction boom. This year, an increase in government spending is likely to increase domestic cement demand 10-15 per cent and in 2005, analysts say, fu... |
Taiwan Cement group plans M&As13 February 2004, Published under Cement NewsTaiwan Cement group will adopt an aggressive mergers and acquisitions strategy and will invest 8-10 bln yuan in five years in China to boost its cement capacity, the Commercial Times quoted Taiwan Cement Corp chairman CY Koo as saying. It plans to build cement plants with annual capacity totalling 20Mt in southern China. Pretax profit of the group’s Hoping power plant in Taiwan is expected to rise to 4 bln twd this year from around 3 bln last year. The group also plans to build two new pow... |
TJCC to Set Up Joint Venture in Liaoning13 February 2004, Published under Cement NewsTangshan Jidong Cement Co., Ltd., TJCC , announced on February 8 that the company intended to inject investment in Chengxing Cement Company, a subsidiary of Liaoning Liaodong Cement Group, and will become the controlling shareholder of the latter. In particular, TJCC will inject CNY 71.825 million (USD 1 = CNY 8.2770) into Chengxing Cement Company and set up a joint venture named Liaoyang Jidong Cement Chengxing Co., Ltd. on the base of the former Chengxing Cement Company. After these prod... |
Chinfon plans extra investment of US$160m12 February 2004, Published under Cement NewsVietnamese-Taiwanese cement joint venture Chinfon Haiphong has proposed increasing its investment capital by US$160m to build a second line to double its output capacity. The Ministry of Planning and Investment has written to the Government asking for a stamp of approval for the venture’s proposal, said a ministry official. Chinfon’s current line is able to turn out 1.4Mta. The joint venture is doing good business, according to the ministry. |
Govt tries to stop Cemex exit12 February 2004, Published under Cement NewsThe government said it will try to prevent Mexican-based cement giant Cemex SA from leaving the country by offering a settlement to resolve a protracted dispute over the company’s investment in this country. "I cannot reveal what option the government will take now, because it is confidential. For sure, we will try to offer Cemex a lucrative solution, so that they don’t leave the country," State Minister of State Enterprises Laksamana Sukardi said on Wednesday. Speaking after a hearing with t... |
Bombay stock prices12 February 2004, Published under Cement NewsIn the limelight again was cement with cement stocks having a smart rally on news that domestic cement prices may be raised. Grasim zoomed by 4.27 per cent to Rs1154.75; ACC appreciated 3.9 per cent to Rs275.20; L&T was up by 2.47 per cent to Rs517.80; and Gujarat Ambuja gained 2.40 per cent to Rs 309.55. Mangalam Cements also rose 5.05 per cent to Rs 15.39 on news that Lafarge and a Thai cement group have shown interest in buying the company’s plant. |
RMC - no surprises say Merrill Lynch12 February 2004, Published under Cement NewsPost the trading statement in December, there should be few surprises in 2003, says analysts at Merrill Lynch, although the precise timing of the Adelaide Brighton sales, inter-co debt repayments could mean some changes to forecast details. But Merrill expects attention to focus on the state of the German price recovery (how have cement prices risen, ready-mix prices have lagged?) and even volume prospects. New CEO David Munro is likely to be queried on future size and shape of the group... |
Palastinian cement sales to Israel?12 February 2004, Published under Cement NewsAn inquiry has opened into allegations that Palestinian companies have been supplying cement to make the concrete slabs that form the contentious separation barrier in the West Bank. A Palestinian parliamentary committee will begin an investigation today into whether Egyptian cement destined for projects in the West Bank and Gaza was intercepted by Palestinian middlemen and sold on to an Israeli company for use in the barrier. The legislators will travel to Egypt to examine whether three... |
Morocco cement sector gains strength12 February 2004, Published under Cement NewsMoroccan cement firms are set to publish some of their best results ever due to the government’s drive to build housing for the poor and develop the country’s infrastructure, traders and analysts said . Ciments du Maroc, the second largest operator, set the tone this week by announcing a 36 per cent rise in net profit to 556 million dirhams ($63.7m) in 2003. Turnover rose 11 per cent to 1.87 billion dirhams. The firm, which is owned by Italcementi, has proposed a dividend of 31 dirhams, up f... |
Iranian cement industry set to be privatised11 February 2004, Published under Cement NewsAccording to "Tehran Times", all governmental cement production units are to be completely privatized by the end of the Third FiveYear National Economic Development Plan on March 20, 2005. In 2000, some 20 per cent of the countrys cement was produced by state-run companies, but now a large share of the Kurdistan and Hegmataneh cement factories have been sold to the private sector, resulting in a 15 per cent decline in cement production by state-run companies. In light of the growth in private... |