Cement News tagged under: international
Lafarge Halla pulls out of Tong Yang Cement10 December 2003, Published under Cement NewsLafarge’s Korean cement arm, 39.9% owned by Lafarge and the remainder by financial investors, has sold its 25% stake in Tong Yang Cement Corporation to Tong Yang Major Corporation for US$138m. This compared with the US$100m that Lafarge Halla invested in this company on its formation almost exactly two years ago. However, when measured in euros, Lafarge’s accounting currency, the gain is less pronounced. Tong Yang Cement Corporation, previously 75% owned by the Korean... |
Sales fall at Gresik Indonesian cement maker09 December 2003, Published under Cement NewsPT Semen Gresik said Tuesday cement sales for the first ten months of this year fell 4.6% on year to 11.83 million metric tons due to a drop in exports. Semen Gresik's domestic cement sales during the period were unchanged at 10..1 million tons, but exports slumped 26% to 1.7 million tons, from 2.31 million tons a year earlier. Gresik didn't offer any comment on its sales performance. Semen Gresik is 51% owned by the government and 25.53% owned by Cemex. According to data fro... |
Rains in Maine08 December 2003, Published under Cement NewsMaine is opposing the construction of a cement plant in upstate New York. Critics said the plant will emit 20 million pounds of air pollutants each year that will make their way to Maine. State environmental officials are scheduled to meet Monday to determine how to respond to the proposed coal-fired Saint Lawrence Cement plant. The plant is proposed for the east bank of the Hudson River south of Albany. James Brooks is director of the Bureau of Air Quality at the Maine Department of Envir... |
Fuel recycling at Shree Cement08 December 2003, Published under Cement NewsShree Cement, India is planning to set up mini-fuel recycling plants in collaboration with KHD Humbolt Gmbh, Germany. Aiming at sustaining its top position in the north, the company has embarked on a major cost-cutting drive from its fuel expenditure. "This is what we will be targeting in the coming months in order to sustain our bottomline," Mr Singhi added. Savings to the tune of 4-5 per cent in the fuel costs are expected on account of use of recycled fuels, he said. The new project, wh... |
VN Cement Corporation08 December 2003, Published under Cement NewsA Ministry of Trade official said there would be no considerable price hike in the domestic cement market even as demand increased during the final days of the year. Hoang Xuan Tho said the country¹s largest cement maker, Viet Nam National Cement Corporation, could take some of the credit for stable prices. The company had kept reserves of between 2.8-2.9Mt of cement since this year¹s third quarter, said Tho. The company had imported clinker ‹ material needed in the production of cement ‹ an... |
Indian prices08 December 2003, Published under Cement NewsRetail cement prices across the country are set to increase of Rs5 per 50 kg bag from next week. Domestic cement companies Gujarat Ambuja, The Associated Cement Companies, Larsen & Toubro and Grasim Industries are looking at increasing the price of the 50kg bag by Rs5 in Mumbai, to take the price of the 50kg bag to Rs 160. Prices in Andhra Pradesh and Karnataka could also increase by Rs5 - Rs7 per 50 kg bag, while in Gujarat, retail cement prices are likely to rise by Rs5 to touch Rs117 p... |
Caribbean debate08 December 2003, Published under Cement NewsCaribbean Cement Company Limited has instructed its lawyers to take legal action in response to what it has described 'as inaccurate, mischievous and defamatory statements' made in the media by rival cement importers. In a release issued Wednesday, Carib Cement observed that on Tuesday's edition of Nationwide, Paul Burke of Jamaica Cement Consortium Limited, and Senator Norman Horne of ARC Systems Limited, made serious allegations that Carib Cement had indulged in unethical business practice... |
Hima Cement safety08 December 2003, Published under Cement NewsAfter winning a silver medal as Uganda's best investor of the year, the management and staff of Hima Cement celebrated two years of no lost time accident (LTA) at their factory. According to the company's Safety Officer, Mr Serapio Ibaale, the plant used to record many accidents and the workers would miss work for several days. "Things only changed recently when the current (Lafarge) management took over and introduced the safety campaign," he said. Hima Cement is a subsidiary of Bamburi Cem... |
Lafarge: raising price targets08 December 2003, Published under Cement NewsDeutsche Bank is raising its target price for Lafarge to Euro 65.0 from Euro 60.5. On its new target price Lafarge would trade on a 2005E PE of 11.2x, 16 per cent below its 10-year historical average. Given Deutsche Bank's long standing concerns over Blue Circle and the fact that Lafarge has a blank cheque in the form of the Euro 1.3bn rights issue from June this year, it believes that this is discount is warranted. The investor day at Lafarge's research centre in Lyon revealed no n... |
Iran cement sale.04 December 2003, Published under Cement NewsIran has sold a state-run cement producer in a public auction in an important step towards loosening Tehran's control over industry, even though the buyer is publicly owned. Aybek Cement Company beat local rivals with a bid worth $248 million bid for a 96 per cent stake in Khuzestan Cement Company, the largest ever stake in a company sold by the state, a Privatisation Organisation official told Reuters on Thursday. Abyek, which paid 2.06 trillion rials ($248 million) for Khuzestan, compared... |