Cement News tagged under: international
Ambuja Cements acquires stake in Nepal producer07 June 2011, Published under Cement NewsAmbuja Cements today said it has acquired 85% stake in Nepal’s Dang Cement Industries for INR19.13 crore (US$4.3m). In a stock exchange filing, the domestic cement maker said it was also in the process to acquire an additional 5% stake in the Nepalese firm for INR1.13 crore. Dang Cement Industries holds limestone mining lease in Nepal. "At present, the company (Dang) is not carrying out any business activity," the Ambuja statement said. With the acquisition, Dang Cement Industries has b... |
Pakistan budget brings relief to cement industry?07 June 2011, Published under Cement NewsThe Pakistan government has proposed a number of measures in its 2011-12 Federal Budget (July 2011 - June 2012) which are expected to aid the local cement industry. Pakistan’s Federal Minister for Finance Dr Hafeez Sheikh presented the federal budget and outlined salient features during a speech in the National Assembly on 3 June. He proposed that federal excise duty (FED) on cement will be phased out in three years. A reduction of PKR200/t is proposed in the first year budget 2011-12 an... |
Nigerian prices seen falling07 June 2011, Published under Cement NewsThe price of cement in Nigeria has dropped to an average 24.1 per cent in major towns across the South-South zone, in response to a presidential order aimed at manufacturers to reduce prices, BusinessDay reveals. In Calabar, capital of Cross River State, which is also home to Nigeria’s third largest cement factory, the United Cement Company of Nigeria (UniCem) Limited, the cement price per bag is now sold at NGN1600 (US$10), against the earlier NGN2200, or a 27.2 per cent drop. The neighb... |
Indonesia capacity seen rising 4% this year07 June 2011, Published under Cement NewsIndonesian cement production capacity will increase by 2.5Mt to 68.5Mt by the end of this year, amid strong domestic consumption in Southeast Asia’s largest economy, an industry official said on Tuesday. This will be a near four percent increase on current capacity of 66Mta, said Urip Timuryono, chairman of the Indonesian Cement Association (ASI). "Semen Tonasa is expanding its cement production capacity by 2.5Mta with an additional investment of US$400-450m. It is scheduled to be complete... |
Shiva receives MoEF clearance for new plans, India06 June 2011, Published under Cement NewsShiva Cement has received approval from the Ministry of Environment and Forests (MoEF) to expand plant capacity to 1.05Mta, reports CNBC-TV18. |
Reconstruction efforts to boost pretax profits06 June 2011, Published under Cement NewsPost-earthquake reconstruction demand is expected to boost pretax profits at four major cement firms by a combined JPY33bn (US$411m) over the next five years. Assuming that their market shares remain the same, reconstruction demand will push up pretax profits by JPY15bn at Taiheiyo Cement Corp, JPY8bn at Sumitomo Osaka Cement Co, JPY5bn at Mitsubishi Materials Corp and JPY5bn at Ube Industries Ltd. The Japan Cement Association estimates that 10Mt of cement will be used for reconstruction p... |
Birla bid to build cement plant06 June 2011, Published under Cement NewsUltraTech Cement, an Aditya Birla Group company, has initiated a process to purchase land in Pupunki area under Chas Block for the establishment of a cement plant. If all goes according to plan, this will be the second major cement plant to be constructed in the district. A couple of weeks ago, Jaypee Group, which set up its 2.1Mta plant in a joint venture with SAIL, began production in the Balidh Industrial Area (BIA). |
Malaysian cement – good prospects for two years ahead06 June 2011, Published under Cement NewsProspects for the Malaysia cement sector is expected to remain positive for the next two years given the narrowing demand-supply gap in 2011 and the year after. Based on RHB Research Institute Sdn Bhd’s (RHB Research) six per cent growth forecast for domestic cement consumption, demand was likely to grow from 16Mt in 2010 to about 18Mt by 2012. On the other hand, industry capacity would remain constant at about 20Mt over the next two years in the absence of expansion by players. This mean... |
Raysut Cement acquisition, Oman03 June 2011, Published under Cement NewsRaysut Cement, Oman’s largest cement producer by market value, said it acquired a 50 per cent stake in Oman Portuguese Cement Products Company (OPCP) to expand into new areas of the cement businesses. Raysut said in a statement it would take over 40 per cent in OPCP owned by Oman Investment Corporation and 10 per cent of Silva Corporation’s 60 per cent holding. Raysut’s chief executive officer Mohammed Ahmed Al Dheeb said the deal was valued at OMR1.92m (US$4.99m). The acquisition will he... |
Colombia: Holcim explains price rises, increases output03 June 2011, Published under Cement NewsThe president of Holcim Colombia, Miguel Angel Rubalcava notes that transport costs have risen by roughly 15% of late amidst a harsh winter and this has pushed cement prices up by 10% this year, ahead of inflation. The 10% rise has come via two hikes, one at the start of the year of 6% and one in the last few days (transport-enforced) of 4% by the leading trio of Holcim, Cemex and Argos. Holcim Colombia’s new leader, Mr Rubalcava, notes however that concrete prices have remained untouched wi... |