Cement News tagged under: international
China first-quarter output rises 7.3%, prices fall27 April 2012, Published under Cement NewsAccording to the latest statistics released by China’s National Development and Reform Commission China cement output grew only 7.3% YoY in the first three months of this year slowing from an 18.1% increase in the same period of 2011. The price of cement continued to fall in March. The average ex-factory price at major cement enterprises dropped CNY18.2/t from February or CNY9/t from a year earlier to CNY363.4/t. At the end of last month, the cement inventory of these major cement enterpr... |
Lucky Cement to construct Iraq grinding plant27 April 2012, Published under Cement NewsPakistan’s Lucky Cement is to construct a 0.87Mt grinding plant in Iraq through a joint venture, according to reports by the Associated Press of Pakistan. The company is to invest US$15m in the cement plant which is estimated to cost US$30m. The technical and financial evaluation of the proposed project has already been carried out by the team of experts. Similarly, the board also decided to invest in the equity of its newly incorporated associated company Yunus Energy Ltd, a 50MW wind fa... |
Irish Cement workers to vote against CRH directors26 April 2012, Published under Cement NewsIrish Cement workers will use their voting rights as shareholders in CRH to oppose the re-election of the company's existing directors at its Annual General Meeting (AGM) scheduled for 9 May 2012. The workers are in the fourth week of their strike action at production plants owned by Irish Cement Ltd which is a wholly owned subsidiary of CRH. The dispute concerns the company’s refusal to honour a Labour Court recommendation relating to the payment of outstanding monies due to its emplo... |
Oman Cement to increase capacity26 April 2012, Published under Cement NewsOman Cement Company (OCC), the Sultanate’s second largest cement producer, is planning to increase its cement grinding capacity. A consultancy agency has been engaged to study the feasibility of further expansion, according to reports in the Times of Oman. The company has also said it posted a 23.9 per cent growth in first quarter profit at OMR5.14m, against OMR4.15m for the same period last year. Sales were up by 13.78 per cent at 558,495t of cement for the first quarter from 490,865t fo... |
Stable prices boost India Cements 4Q profit26 April 2012, Published under Cement NewsIndia Cements reported a five per cent rise in net profit attributed to stable cement prices and improved realisations. Business Line India reports that for the quarter ended March 31, 2012, the company posted a net profit of INR64.92 crore on a total income of INR1122.95 crore. During the corresponding quarter in the previous year, the net profit was INR56.31 crore on a total income of INR941.52 crore. A noticeable recovery in demand and a higher average realisation during the year... |
Vietnam likely to produce 17.8Mt of cement in Jan-Apr26 April 2012, Published under Cement NewsCement producers in Vietnam are estimated to have made 17.8Mt of cement in the first four months of this year, down 6.6% from a year earlier. In April, the country is likely to have produced 5.7Mt of cement, up 2.7% YoY, the government’s General Statistics Office said on a monthly report released late Wednesday. In 2011, Vietnam produced and sold 49.3Mt of cement. The country also imported 1.15Mt of clinker and exported 5.5Mt of cement and clinker during the period, the Ministry of Cons... |
Venezuelan builders urge US$60bn for infrastructure25 April 2012, Published under Cement NewsThe Venezuelan Construction Chamber said Tuesday the country needs to spend US$60bn on maintaining existing infrastructure and to double investment in new projects. "A country's development cannot be promoted without investment in infrastructure," the group's head, Gilbert Dao, said, noting that Venezuela is currently devoting no more than 3% of GDP to infrastructure. During one of the organisation's seminars, Dao emphasised that other countries in the region such as Chile, Colombia and ... |
Risk to China cement stocks ‘more on the upside’25 April 2012, Published under Cement NewsUBS said that last week, cement prices in most regions of China remained flat and cement inventory levels fell in many regions due to better sales. The house says it is not expecting cement industry fundamentals to turnaround materially in the short term, but the macro-economic recovery and policy easing should remain the key positive drivers for the sector. UBS reiterates its positive view on the sector, believing the cement industry has returned to an upward trend in 2Q12 and "the risk to... |
Genea Angola’s cement factory will be expanded25 April 2012, Published under Cement NewsFollowing ICR’s news yesterday’s about Angola’s new Cimenfort factory, due to launch production in May, it is now reported that a second line will be built at the plant. Angolan news agency Angop reported that in a second phase the cement factory would be expanded by installing another kiln, which would increase production to 1.2Mta. The factory, which is the result of an investment of US$100m by Angolan company Genea Angola, which operates in the real estate and construction sector, is... |
India: collusion ruling looms large over cement makers24 April 2012, Published under Cement NewsIndian cement makers’ stocks fell on fears that the Competition Commission of India (CCI) will rule against the sector as it deliberates on whether companies have colluded to push up prices. On Monday, the CCI imposed hefty penalties against agrichemical manufacturers, sparking fears similar action will follow regarding cement producers. |