Cement News tagged under: international
China sector outlook positive – JP Morgan23 June 2011, Published under Cement NewsReports by the Shanghai Securities News report that China’s top economic planner has issued guidelines allowing local governments to issue bonds to finance social housing construction, this is likely to boost cement going forward. JPMorgan estimates 36 million units of social housing will translate into around 400-450Mt of cement demand in 2011-2015, or on average 100-150Mta. "This volume is significant." The house remains positive on the sector’s long-term structure story, and its preference... |
Holcim US lawsuit won’t materially hit earnings23 June 2011, Published under Cement NewsHolcim said Wednesday a lawsuit filed in Maryland over emissions of sulphur dioxide won’t result in a material hit to the cement firm’s earnings, reports the Wall The Swiss firm said it is accused by US officials of illegally emitting sulphur dioxide from its Hagerstown, Maryland plant. "Our US subsidiary is of the opinion that we complied with the law and the risk of a fine isn’t material for the company," Holcim spokesman Roland Walker told Dow Jones Newswires. News of the lawsuit wa... |
TPCC suspends expansion plans, Tanzania22 June 2011, Published under Cement NewsThe Tanzania Portland Cement Company (TPCC) has suspended its expansion plans due to a decade-long dispute with illegal miners at Wazo Hill in Dar es Salaam. TPCC director for human resources and executive affairs, Ms Jayne Nyimbo Taylor, said 170 miners and other people, who invaded Cha Simba Village since 2002, had continuously been encroaching on the company’s area. They have been building houses and some have been mining stones. She also said such people had been acting violently and... |
Qatar cement prices expected to remain flat22 June 2011, Published under Cement NewsCement prices in Qatar are expected to remain flat because of fewer local players and government control over prices, according to Global Investment House.The cement sector continued to witness low demand in the first quarter of this year and the country was also “hurt” by influx of cheaper cement from neighbouring countries, said Global in its latest report. The sector witnessed a bottom line growth of 6.7% despite a 1.3% drop in the top line, it said, adding: “Of the two listed cement com... |
Gujarat cement prices fall, India22 June 2011, Published under Cement NewsCement prices in Gujarat have dropped by up to INR100 per bag (35%) from the peak on account of poor demand (particularly from the housing segment) coupled with intense competition, according to a recent report by IFL Institutional Equities, a part of the IIFL Group . In Gujarat retail markets, the price is INR220/bag, IFL states. "Prices in Mumbai have corrected by INR5 in the current week, taking the total decline to INR10 per bag in the past month; prices in city are currently INR260... |
JK Cement signs cricketer as brand endorser, India22 June 2011, Published under Cement NewsJK Cement has for the first time, brought on board a celebrity endorser for its various products. Cricketer Virender Sehwag has been signed for a two-year period. Nitish Chopra, brand manager, JK Cement, says: "JK Cement has been around for 35 years. With this comes a lot of experience. And, with Sehwag being one of the senior-most members of the Indian cricket team, there was this instant connect with the brand." Chopra adds, "Both JK Cement and Sehwag are performers in their own rights a... |
Lafarge Cement venture develops new silo cleaning system22 June 2011, Published under Cement NewsLafarge Cement and Silo Cleaning Services have developed a new cleaning system that improves the safety of its employees. The ‘Roof and Wall Master’ technology was invented by Silo Cleaning Services in response to a challenge Lafarge Cement faced at its Hope Cement Works in Derbyshire. Ashley Bryan, Lafarge Cement’s Hope Works manager explains: “We had a large amount of cement build up in the top of one of the cement silos, which needed to be cleaned in a safe manner. The usual cleaning ... |
Financiera y Minera sees further Spanish falls ahead22 June 2011, Published under Cement NewsFinanciera y Minera (FYM, the Spanish subsidiary of the Italcementi group) posted a turnover last year of EUR176m, representing a decrease of 22 per cent over the previous year. Despite this sharp fall, EBITDA stood at EUR31m, while net operating profit (EBIT) was EUR 7.7m. The company has reduced its turnover last three years, from the record set in 2007, but has managed to stay in the black. In 2010, FYM invested close to EUR11m, particularly spent on strategic improvement projects and e... |
Holcim Romania to invest EUR35m in 2011-1222 June 2011, Published under Cement NewsThe Romanian unit of Holcim will invest EUR35m in sustainable development in the next two years, Romanian state agency Agerpres reported. The funds will be spent on energy efficiency and environment projects and in equipment maintenance, the agency quoted the head of Holcim Romania, Daniel Bach, as saying. Holcim Romania invested more than EUR61m in 2009-2010 with the bulk of investments allocated to the modernisation of production facilities. |
Siam Cement: weak 2Q expected, growth to pick up22 June 2011, Published under Cement NewsPolitical uncertainty ahead of the July 3 election has been a key factor behind the recent decline in Siam Cement Co’s share price. However, TISCO Securities regard the pullback as an opportunity to Buy given its robust earnings growth in 2011-13F. Even though 2Q11F results should fall QoQ due to seasonal factors, earnings will improve in 2H11. Meanwhile growth momentum should gain pace in 2012F from better petrochem spreads and increasing contributions from HVA products. A positive view is... |