Cement News tagged under: international
Pakistan five-month cement exports decline22 December 2011, Published under Cement NewsPakistan cement exports during first five months of current financial year 2011-12 (July-November) were 3.33Mt with a value of US$186.780m compared to 3.975Mt at US$194.615m in the corresponding period. This shows that cement exports fell by 16.22 per cent and 4.03 per cent in terms of quantity and value in dollar respectively over the corresponding period last year, according to data released by Pakistan’s Federal Bureau of Statistics. However, in terms of Pakistani currency, exports decli... |
Readymix sells some non-core land assets, Ireland22 December 2011, Published under Cement NewsReadymix PLC, an Irish cement company, has agreed the sale of certain non-core land assets at Cahir, County Tipperary to three independent purchasers and separately the disposal of assets at Ballitore, Co Kildare. In consideration of transferring the assets at Ballitore, KTK Sand & Gravel Ltd have agreed to assume the ongoing liabilities of the company in respect of a number of royalty agreements. Readymix said the transaction will not have a significant impact on the cash position of the ... |
HeidelbergCement not to bid for US Vulcan22 December 2011, Published under Cement NewsHeidelbergCement will not place a counter bid for US competitor Vulcan after US Martin Marietta offered US$4.8bn (EUR 3.6bn) for Vulcan, HeidelbergCement’s CEO Bernd Scheifele said in an interview. Scheifele told daily Frankfurt Allgemeine Zeitung, HeidelbergCement will wait until the deal is closed and will observe if any assets will be put up for sale. Scheifele does not expect any big consolidation moves in the industry, because companies are not financially capable at the moment, as th... |
Lafarge seeking to sell South African unit22 December 2011, Published under Cement NewsLafarge is seeking a buyer for its cement operations in SA in a transaction that may be worth up to US$800m, according to media reports. Potential bidders may include Indian industrial conglomerate Aditya Birla Group, the reports said. Lafarge is the third largest producer in the South African market and has recently completed its 1Mta new line at the Lichtenburg works and a new grinding station in Randfontein, west of Johannesburg. It also has a small grinding plant at Richards Bay in Kwa... |
Oman Cement receives approval to export surplus22 December 2011, Published under Cement NewsOman Cement Company has announced that it had received government approval to export surplus cement after it increased its capacity. Jamal Shamis al Hooti, CEO of Oman Cement Company, said that the company will undertake a comprehensive study to determine the actual market needs at this time, the surplus quantities and will identify target markets. Oman Cement Company produces currently 8000tpd of clinker after the commissioning of the third kiln in the second half of this year, with a c... |
Lafarge WAPCO inaugurates new Ewekoro plant, Nigeria22 December 2011, Published under Cement NewsThe President of Nigeria has inaugurated a 2.5Mt cement plant built by Lafarge WAPCO plc at Ewekoro, Ogun State. The official inauguration of the cement plant known as “Lakatabu” was carried out by President Goodluck Jonathan at the Ewekoro II plant. In his address, the President said that government was committed to partnering the private sector to grow the economy and ensure success of the cement sub sector in Nigeria. During his speech, chairman of Lafarge, Bruno Lafont thanked Nigeria... |
FAS extended term for consideration of application of Gazmetallproyekt21 December 2011, Published under Cement NewsRussia’s Federal Antimonopoly Service (FAS) extended the term for the consideration of the application of Gazmetallproyekt LLC for the acquisition of the rights to act as an exclusive body for OJSC Verkhnebakanskiy Cement Works, FAS informed. The reason for FAS to extend the term was the necessity to obtain additional information on the transaction applied for. CJSC Inteco has been the owner of Verkhnebakanskiy Cement Works since 2006. |
Prices jump 50% in Medina, Saudi Arabia21 December 2011, Published under Cement NewsCement prices in the Muslim holy city of Medina jumped to SAR23 (US$6) a bag in the past week, from an average of SAR15, Al-Madina reported, citing contractors and landlords. Cement prices in Jeddah on the Red Sea rose 25 per cent to SAR19 over the same period, the newspaper added. |
Pakistan central bank reviews cement industry’s FY11 performance?21 December 2011, Published under Cement NewsA review of the Pakistan cement industry’s performance in FY11 (July 2010 – June 2011) by the State Bank of Pakistan (SBP) shows that foreign direct investment increased markedly compared to the previous year, but exports have decline for the second year in a row. Meanwhile, production costs have risen while capacity utilisation rates have dropped. Pakistan’s cement industry received US$65.2m worth of Foreign Direct Investment (FDI) in financial year 2010-11 (July-June) compared to nil in ... |
Approval for AfriSam takeover, South Africa21 December 2011, Published under Cement NewsSouth Africa’s Competition Tribunal has given conditional approval for the Public Investment Corporation’s (PIC’s) takeover of empowered cement maker AfriSam, which is struggling under the burden of billions of rand of debt. The tribunal’s approval follows a high court ruling on December 2 that allows the PIC, representing the Government Employees Pension Fund, to convert ZAR4.7bn in debt it holds in AfriSam into equity, becoming the majority shareholder. But AfriSam shareholders, empowerm... |