Cement News tagged under: international
Russia: Mordovcement to invest 1.2bn06 September 2016, Published under Cement NewsHead of Eurocement Group, Mikhail Skorokhod, announced that Mordovcement has plans to invest RUB1.2bn (US$18.5m) over the next 18 months in development projects. RUB250m will be allocated to the development of a new quarry, which is set to commence preparation in 2017. |
Ghana: limited 0.3% volume growth in 1Q1606 September 2016, Published under Cement NewsHigher levels of infrastructure investment in the coming months should help Ghana’s construction industry rally after a slow start to 2016, although rising costs risk squeezing profit margins. The industry grew by only 0.1 per cent QoQ and by just 0.3 per cent YoY in the first quarter of the 2016, well below the annualised GDP increase of 4.9 per cent, according to data released by the Ghana Statistical Service in late June. By contrast, Ghana’s construction sector expanded by 6.2 per cent... |
Russia: new general director appointed at Mordovcement06 September 2016, Published under Cement NewsKarel Okleshtek has been appointed the new general director of the Mordovcement plant (included in Eurocement Group). Previously, he headed a plant of the international group Heidelberg Cement. |
India: Assam cement companies bring down prices05 September 2016, Published under Cement NewsFollowing an initial reluctance, cement companies in Assam, India, have started to lower cement prices, according to reports in The Telegraph. Cement producers including TopCem Cement, Star Cement and Dalmia Cement announced a price reduction of INR25-35/bag in the Indian state. There had been protests by organisations like the Krishak Mukti Sangram Samiti (KMSS) after the companies recently decided to hike price by around INR20-40/bag. The rise in cement prices was seen as detriment... |
Nigeria: cement price rise will impact house building05 September 2016, Published under Cement NewsCement dealers in Umuahia have spoken out against the rise in the retail price of cement, which have been raised by almost 50 per cent recently. The hike was caused by the high foreign exchange rate with NGN420 (US$1.33) exchanging for one dollar. It is argued by the deladers that the government should give concession to cement manufacturers, reports the News Agency of Nigeria (NAN). The dealers claim that such a concession would help them to import materials for cement production. The... |
Indian cement producers to appeal CCI fines02 September 2016, Published under Cement NewsLafargeHolcim, India Cements and Ramco Cements have said that they will appeal against yesterday’s ruling by the Competition Commission of India (CCI) which levied fines totalling INR67bn (US$1bn) against 11 firms, the Press Trust of India reports. Four of the other affected companies – UltraTech, Shree Cement, Jaiprakash Associates and JK Cement – have said they will seek legal advice and may subsequently submit appeals of their own. LafargeHolcim has said it believes it has a strong ... |
Competition Commission of India imposes US$944m fine for cartelisation01 September 2016, Published under Cement NewsThe Competition Commission of India (CCI) has levied a fine of INR63.2bn (US$944m) on 10 cement companies whom it accuses of conspiring to fix prices in contravention of competition law. In addition, the Cement Manufacturers Association has been ordered to pay a INR7.3m fine. Of the 10 companies, four – Jaiprakash Associates, UltraTech, Ambuja Cements and ACC – will bear the brunt of the penalties, accounting for 76 per cent of the total fine. The other firms fined today are Lafarge, Cent... |
Australia: Adelaide Brighton sees power bill rise by US$2.2m01 September 2016, Published under Cement NewsThe price spike in July added around AUD3m (US$2.26m) to Adelaide Brighton's power bill, mainly attributed to operations at its Birkenhead plant. This surge in costs led the company to temporarily scale back its production and increase the use of imported product. Managing Director, Martin Brydon, commented on how the company had the capacity to turn off its grinding process at the times of high power prices but urged that continuing power prices needed to be addressed. The Council of ... |
India: My Home Industries set for 10Mta capcity01 September 2016, Published under Cement NewsWith its 1.5Mta Tuticorin plant, Tamil Nadu, expected to be commissioned in January 2017, My Home Industries is set to see its production capacity increase to 10Mta. Speaking of its ambitions in the sector, J Rameswar Rao, chairman of My Home Industries, said, “We want to go in for acquisitions in north, central and western India to further increase the capacities.” My Home Industries became a major player in the sector following its acquisition of Shriram EPC’s 3.2Mta plant in Kurnool... |
Colombia: consumption falls 20% YoY in July31 August 2016, Published under Cement NewsColombia saw its cement market contract by 19.7 per cent YoY in July to 924,900t, according to the latest figures by Dane, the country’s statistics office. A round 68.2 per cent of this total was delivered as bagged cement and 31.8 per cent in bulk. Nearly 75 per cent of bulk cement was supplied to ready-mix companies and a further 17 per cent to construction companies and contractors. Domestic production contracted by 17.6 per cent to 915,200t in July when compared with the same mont... |