Cement News tagged under: international
Ashaka board recommends Lafarge buy-out offer to minority shareholders29 December 2014, Published under Cement NewsThe board of directors of Ashaka Cement has advised minority shareholders to accept the buy-out mandatory tender offer (MTO) by Lafarge Africa. Lafarge Africa has offered to buy out minority shareholders in Ashaka Cement following the merger of Lafarge's Nigerian and South Africa's businesses. Under the offer, Lafarge Africa is making an MTO to minority shareholders to buy 927 million shares, representing 41.39 per cent of the company. Shareholders who accept the offer will receive 57 ... |
Greenfield plant in Turkmenistan announced29 December 2014, Published under Cement NewsTurkmenistan plans to build a 1Mta cement plant in the Koytendag region of the Lebap province, the country's industry ministry has said. The plan comes under the 'Program for Development of Construction and Industrial Sectors in 2012-16,' which is designed for the diversification and modernisation of the building materials infrastructure. The Koytendag region has rich reserves of raw materials and railway infrastructure has been established, which will allow for increased export opport... |
India: CMA calls for lower tax on cement24 December 2014, Published under Cement NewsIndia’s Cement Manufacturers Association has urged the government to lower the overall tax on cement by 20-25 per cent. In a pre-Budget representation, the industry body said despite being a core industry, overall taxes hover around 60 per cent, comparable with luxury goods while other key industries such as coal and steel are subject to considerably lower tax rates. Excise duty is levied at 12 per cent apart from an additional INR120/t, while duty on other core items is around five per c... |
Ibeto and Nigercem ownership dispute rages on23 December 2014, Published under Cement NewsThe Ebonyi State Government in Nigeria has warned the Ibeto Cement Company over an alleged illegal entry into the premises of Nigercem cement premises located at Nkalagu. The entry has been perceived as an act of provocation by Governor Martin Elechi of Ebonyi State, as Nigercem is still subject of an ownership dispute in the courts. He said: “We recall that the following dispute between the state government and Ibeto Group on the ownership of Nigercem, Ebonyi State Government exercised... |
US consumption growth 4.2% in 201323 December 2014, Published under Cement NewsUS cement consumption growth reached 4.2 per cent in 2013, according to the latest assessment of the sector by the Portland Cement Association (PCA). In its publication entitled "2013 Apparent Use of Portland Cement, State & Market Report”, the PCA notes that annual growth was driven by residential and non-residential building, up 17.2 and 11.9 per cent, respectively. Meanwhile, the public sector shrank by four per cent, placing a drag on overall growth rates. |
World Bank expected to provide US$200m for Vietnam WHR systems23 December 2014, Published under Cement NewsThe World Bank is expected to provide US$200m for Vietnam's cement companies to invest in technology to collect heat from their kilns to generate power, according to the Vietnam National Cement Association (VNCA). VNCA said the financing pledge is part of the international lender’s programme to finance efficient energy consumption for the local cement industry and the step can help save some 30 per cent of electricity used in cement production. The association’s chairman, Nguyen Quang Cu... |
India Cements: INR370kg/bag isn't viable23 December 2014, Published under Cement NewsProducing cement in southern India at the current price of around INR370 (US$5.83)/50kg is not viable, according to N Srinivasan, India Cements' vice-chairman and MD. Against a background of falling demand, interest, freight and other manufacturing costs were steadily increasing, pushing cement producers into losses. “Cement is treated as a commodity, but it is actually a manufactured product but doesn’t get the benefits of a manufactured product,” he said. “Over the last eight years, ... |
Vietnam cement sales on track to exceed full year target22 December 2014, Published under Cement NewsVietnam’s total cement sales are estimated to hit 70Mt in 2014, surpassing the full-year target by 6Mt, the Ministry of Construction said. The volume includes 50.5Mt of domestic cement sales and 19.5Mt of exports. The volume of cement exports surpassed the whole-year target by 4Mt. The average exporting prices of the cement amounted at US$43.15/t, rising five per cent or US$2/t from a year ago, the ministry noted. Vietnam currently has 74 cement production lines with a combined annua... |
Wärtsilä to supply 11 power plants to Eurocement22 December 2014, Published under Cement NewsWärtsilä has been contracted to supply power plants for 11 cement factories of Eurocement Group in Russia. The project is part of a modernisation program of the factories which focuses on energy efficiency and environmental upgrading. Eurocement Group, making up almost 40 per cent of the Russian cement market, is one of the largest cement producers in the world. The contract was signed in November 2014. "Eurocement Group modernisation program is based on energy efficiency and best inter... |
Cemex to increase capacity of Costa Rica cement works19 December 2014, Published under Cement NewsCemex Latam Holdings (CLH) is to increase cement capacity of its plant located in Colorado, Costa Rica by approximately 25 per cent, reaching a capacity of 1.1Mta by 2017. The total investment is expected to be approximately US$35m over a three-year period including the construction of a new grinding mill, as well as several capacity enhancing projects on its clinker production line. “With this increased capacity we will strengthen our position in Costa Rica, reiterating our commitment t... |