Cement News tagged under: international
Gresik dispute intensifies11 December 2003, Published under Cement NewsCemex is preparing to take the Indonesian government to court over its long-delayed plan to take over the country's largest cement maker. After years of delays, Cemex is expected this week to ask a panel of international arbitrators to rescind the purchase agreement and award damages to the Mexican-based company. "The central government looks like it doesn't have the credibility or power to exercise its rights as the owner of Semen Gresik," said Anton Gunawan, an economist at Citibank in Ja... |
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... |
Kenya import challenge11 December 2003, Published under Cement NewsFaced with high elecricity costs, local cement manufacturers are finding it difficult to compete with Egyptian imports. They have appealed to the government to impose duties on Egyptian imports on grounds that the cost of electricity had pushed their consumer prices 25 per cent higher than international figures. The local cement makers have also been hit by low capacity utilisation rates. Although the domestic market size is 1.2Mt, the installed capacity for the local companies is 3Mt, wh... |
Kenya import challenge11 December 2003, Published under Cement NewsFaced with high elecricity costs, local cement manufacturers are finding it difficult to compete with Egyptian imports. They have appealed to the government to impose duties on Egyptian imports on grounds that the cost of electricity had pushed their consumer prices 25 per cent higher than international figures. The local cement makers have also been hit by low capacity utilisation rates. Although the domestic market size is 1.2Mt, the installed capacity for the local companies is 3Mt, wh... |
Philippine Fortune11 December 2003, Published under Cement NewsPhilippine-listed Fortune Cement Corp said Thursday its board has approved the issuance of 708.3 million new shares to settle a loan from its parent Republic Cement Corp. Fortune Cement said it issued convertible notes to Republic Cement in February 1999 in exchange for a loan amounting to 2.125 billion pesos ($1=PHP55.39). Each share is valued at PHP3, it added. Fortune's board also approved a plan for the company to absorb its unit Premier Cement Corp. to simplify the "legal structure and ... |
HK`s Chia Hsin to raise US$55m11 December 2003, Published under Cement NewsHONG KONG (Dow Jones)--Chia Hsin Cement Greater China Holding Corp. said Tuesday it is seeking to raise HK$423.3m (US$55m) from its initial public offering. The company, which produces and sells cement, said in its prospectus it is offering 286 million shares at HK$1.48 apiece, of which 200.2 million are new shares and 85.8 million are existing shares. Of the total share offering, 257.4 million shares will be set aside for institutional investors, while 28.6 million shares are earmarked for... |
Market Surprises11 December 2003, Published under Cement NewsMarket surprises The dry bulk markets are back on a strong trend, after having taken a short breath during the first weeks of November. Thermal coal demand and a renewed interest in vessels taken for periods are part of the explanation of this unexpected rise. The BCI and BPI have regained some of the ground previously lost, with a rise of respectively 263 points at 6249 and 383 at 4443 points. Rates for periods are now back to their third highest level of the year, wi... |
Market Surprise11 December 2003, Published under Cement NewsThe dry bulk markets are back on a strong trend, after having taken a short breath during the first weeks of November. Thermal coal demand and a renewed interest in vessels taken for periods are part of the explanation of this unexpected rise. The BCI and BPI have regained some of the ground previously lost, with a rise of respectively 263 points at 6249 and 383 at 4443 points. Rates for periods are now back to their third highest level of the year, with some Panamax vessels reported above U... |
Holcim establishes new Foundation10 December 2003, Published under Cement NewsHolcim is setting up a worldwide prize competition for sustainable construction projects to promote future-proof solutions that meet the differing requirements of economic growth, environmental quality and social responsibility. To provide a framework for this objective, the company has established the Holcim Foundation for Sustainable Construction, domiciled in Zurich . The Holcim Foundation for Sustainable Construction promotes and supports initiatives and projects that identify c... |
Quarry battle10 December 2003, Published under Cement NewsLafarge Aggregates is still bidding to set up a super-quarry on the Hebridean island, in what has become Scotland 's longest-running planning dispute, dating back to 1991. The company was attempting to overturn a ruling made by the Scottish Executive in 2001 over the quarry in the Western Isles. At the Court of Session in Edinburgh , final submissions were heard from Colin Campbell QC, acting on behalf of Scottish Natural Heritage, co-respondents in the case. The judges, Lord... |