Cement News tagged under: international
Cemex seeks settlement12 December 2003, Published under Cement NewsMexico's Cemex has filed for international arbitration to recover the $290m it paid for a 25 per cent stake in Indonesia's largest cement maker, Semen Gresik, after years of stalled negotiations over a move to majority ownership. However, the company yesterday indicated it remained interested in the investment and would drop the suit if Semen Gresik's controlling shareholder, the government, acceded to its demands. Cemex bought the 25 per cent stake in 1998 on the understanding it would be a... |
DTI plans to cut import duties12 December 2003, Published under Cement NewsLocal cement manufacturers have failed to convince the Department of Trade and Industry (DTI) to retain the safeguard duty on imported cement. Cement imports are currently charged with a definitive duty of P20.60 per 40-kg bag to help protect domestic industries. After reviewing the definitive duty imposed last July, however, DTI has decided to reduce the amount after concluding that cement companies have abused the safeguard duty. "We have reviewed that data and we have concluded that rec... |
DTI plans to cut import duties12 December 2003, Published under Cement NewsLocal cement manufacturers have failed to convince the Department of Trade and Industry (DTI) to retain the safeguard duty on imported cement. Cement imports are currently charged with a definitive duty of P20.60 per 40-kg bag to help protect domestic industries. After reviewing the definitive duty imposed last July, however, DTI has decided to reduce the amount after concluding that cement companies have abused the safeguard duty. "We have reviewed that data and we have concluded that re... |
Fortune Cement to merge12 December 2003, Published under Cement NewsFortune Cement Corp is set to merge with its wholly owned unit Premier Cement Corp. The merger, approved by Fortune Cement's board of directors on Dec. 10, is seen to improve operational efficiency. Fortune Cement will be the surviving entity after the merger. "The merger will simplify the legal structure and promote significant cost efficiency improvements, such as substantial use of spare equipment and machinery by the company, single statutory audit, and reportorial requirements," said ... |
TPI Polene offer12 December 2003, Published under Cement NewsThai cement-maker TPI Polene PCL will hold its long-delayed share offering of 300 million new shares from January 12-16, 2004, the company said in a statement Tuesday. The share offering has been delayed twice so far this year, with the company blaming inauspicious market conditions. "By then, the situation in the stock market should have returned to normal," Wanchai Manosutthi, MD of Tisco Securities, the issue's underwriter, said in the statement. TPI Polene, the country's third biggest ... |
Jordanian Cement Prices fall12 December 2003, Published under Cement NewsThe Jordanian Government has successfully intervened to decrease the cement prices in the country, which reached their average on December 10, 2003. Cement prices began to drop from the high level of 70 Jordanian dinars ($98..9/87.7 euro) per tonne several days ago to 58 dinars ($81.9/72.7 euro) per tonne as on December 10, 2003. The cabinet has intervened twice over the past weeks to stop cement exports to regional markets in order to meet local market demands, the Jordanian Ministry of In... |
Jordanian Cement Prices fall12 December 2003, Published under Cement NewsThe Jordanian Government has successfully intervened to decrease the cement prices in the country, which reached their average on December 10, 2003. Cement prices began to drop from the high level of 70 Jordanian dinars ($98..9/87.7 euro) per tonne several days ago to 58 dinars ($81.9/72.7 euro) per tonne as on December 10, 2003. The cabinet has intervened twice over the past weeks to stop cement exports to regional markets in order to meet local market demands, the Jordanian Ministry of Ind... |
Holcim`s Romanian spend12 December 2003, Published under Cement NewsRomanian cement, concrete and aggregates producer Holcim Romania, plans to invest an additional Euro 40m ($48.7m) by 2006, company officials said. The company has invested over Euro 250m in its Romanian operations, fulfilling its commitments to the Romanian state that were undertaken as part of the sell-offs of the three cement plants owned by Holcim in Romania. The largest part of the funds were used to upgrade the production facilities, logistics, environmental protection and working cond... |
Cement firms extend production break11 December 2003, Published under Cement NewsMany Indian cement companies have decided to extend their 10-day production holiday across the country, following delay in the expected rise in demand and prices. The production halt, already in its 13-day, will be extended by at least another week, senior industry officials said. Industry sources said, "The companies had decided to freeze output to push up prices and to reduce their huge inventory pile-up. But since the expected demand increase has not taken place, production is likely to ... |
Greek Titan11 December 2003, Published under Cement NewsGreek cement producer Titan Cement will raise to 94.8 per cent its stake in Macedonian cement company Cementarnica Usje, buying the 46.5 per cent, held by Swiss cement maker Holcim, Titan said on December 9, 2003. The acquisition, which is in line with Titan's plans for expansion in the Macedonian market, follows a Titan-Holcim deal under which Titan sold to Holcim 99.9 per cent in Bulgarian cement company Plevenski Cement. In line with its expansion plans to the international cement market... |