Cement News tagged under: international
Cemex US debt rises by some US$378m15 August 2011, Published under Cement NewsWith the imminent exercise of the put option held by the privately owned Ready Mix USA, Cemex will have to pay Ready Mix USA about US$350m and also consolidate some US$28m of the joint-venture’s debt. Ready Mix USA had given notice last year that it intended to exercise this option upon the expiry of the five years of the joint-venture agreement. It follows the US cement market having declined in every single year since the joint venture has formed and in 2008 and 2009 the drop was well in... |
INC expects to invest US$86m in modernisation, Paraguay15 August 2011, Published under Cement NewsIndustria Nacional del Cemento (INC) plans to invest a total of US$86m for projects including the switching of fuel in its kilns, increased clinker production, a new cooler, and installation of bagging equipment. These plans were presented last week at their meeting of the INC officials and businessmen from the Paraguayan Industrial Union (IPU). |
Indocement to invest US$1.17bn12 August 2011, Published under Cement NewsIndonesia’s second largest cement maker PT Indocement Tunggal Prakarsa said it will invest US$1.17bn up to 2016 to expand its production capacity. The company will expand its production capacity to 27.1Mta from 18.6Mt at present. Its has three factories located in Citereup near Bogor, Palimanan in Cirebon and Tarjun in South Kalimantan. Company’s president Daniel Lavalle said the plan is to be carried out in four phase to start with the expansion of the factory in Palimanan by 1.5Mt. The... |
Quinn Group rejects EUR200m offer, Ireland12 August 2011, Published under Cement NewsThe Quinn Group has rejected an offer of about €200m for parts of the business from a consortium headed by Liam McCaffrey, who led the company for many years under Seán Quinn’s stewardship. The Irish Times reported that the bid, which was lodged in early July, focused on Quinn’s cement and related activities, as well as the radiators division. The bid was backed by KKR, a New York-based private equity player. Sources familiar with the bid said KKR was prepared to finance the transaction a... |
Lafarge Zambia sales up 35%12 August 2011, Published under Cement NewsLafarge Cement Zambia sales volume has risen by 32 per cent over the first-half of this year, driven by the booming construction and mining industries in the country. Apart from the rise in sales of cement, the company recorded increased revenue of more the K360bn which represented a 23 per cent rise from what the company had made in similar period of 2010. Lafarge Cement Zambia finance director Harriet Kapekele said in a statement that the company performed well at its Lusaka and Ndola p... |
UK construction output figures revised for 2Q1112 August 2011, Published under Cement NewsConstruction output figures for the second quarter of 2011 were today revised upwards by the Office of National Statistics, from 0.5 per cent to 2.3 per cent. Yet despite this improvement the underlying direction continues to cause widespread concern as public sector cuts are only just beginning to affect these figures. Commenting on the ONS revision, Kelly Forrest, senior economist at the Construction Products Association said: ‘Although these figures for 2Q indicate a slight improvement f... |
Votorantim in new Uruguay cement plant venture12 August 2011, Published under Cement NewsVotorantim Cimentos has reached an agreement in partnership with Uruguay state-run ANCAP for the construction of a 0.75Mta cement plant. The facility involves an investment of US$146m and is to be built in the district of Treinta y Tres, 286km from the Uruguay capital Montevideo. The new greenfield plant is scheduled for completion in 2014. "Uruguay is a country with deposits of high quality and a strategic location. With this development, the country becomes an exporter of cement to th... |
Indian companies see pressure for 2-3 quarters11 August 2011, Published under Cement NewsIndian manufacturers are facing increased production costs while prices are declining, putting pressure on margins and analysts see the margins pressured for the next 2-3 quarters. While domestic coal prices have increased almost 30%, freight costs have also gone up in tandem with fuel prices. And with demand projections for the rest of the fiscal too staying sluggish, the passage of input cost rise seems difficult. In a recent earnings call, Grasim Industries reduced its demand growth gu... |
Akmenes boosts exports 50%, Lithuania11 August 2011, Published under Cement NewsAkmenes Cementas, Lithuania’s only cement manufacturer, said that its exports soared almost 50 per cent this year. "We have diversified and have many markets now, including Lithuania, Scandinavia, Russia and Belarus. Our exports increased by nearly 50 per cent this year," Akmenes Cementas CEO Arturas Zaremba told BNS. The Lithuanian market, to which the company sold 208,000t of cement, or 53 per cent of its total production output, during the first half, is recovering "little by little," h... |
Demand for construction materials rises, Japan11 August 2011, Published under Cement NewsConstruction material demand is rising as the nation begins the enormous task of rebuilding the areas devastated by the March disaster, while redevelopments projects in Tokyo also push up cement and steel prices. Tokyo cement prices have risen this month to around JPY10,600/t from roughly JPY10,100, the first increase in two years. Taiheiyo Cement Corp, Sumitomo Osaka Cement Co, Tokuyama Corp. Demand for construction projects involving office buildings and hotels in central Tokyo has also ... |