Cement News tagged under: international
UltraTech full year results impacted by slower demand26 April 2011, Published under Cement NewsIndian cement producer UltraTech Cement, part of the Aditya Birla Group, today announced a decline in full year sales to 31 March, 2011, with its performance hampered by slower growth in cement demand and higher input costs. Full-year net sales stood at INR13,210 crore compared to INR13,442 crore in the same period of the previous year. Profit before interest and tax as INR2063 crore against to INR3319 crore YoY. The company highlighted that the results for the year and the quarter ended ... |
FLSmidth signs agreement on future cooperation with Russian customers26 April 2011, Published under Cement NewsIn connection with the Russian Prime Minister’s state visit to Denmark, FLSmidth expects to sign agreements on future cooperation with two Russian customers at a total value in excess of EUR270m. In addition, FLSmidth has previously signed an agreement with another Russian customer, which has not yet become binding, in announcement made last year. If and when the agreements become binding, FLSmidth said it would inform the market immediately . |
UltraTech Cement to add 9.2Mta of capacity in FY1426 April 2011, Published under Cement NewsUltraTech Cement has said it plans a capital expenditure over the next three years of around INR11,000 crores. Projects include additional cement plants in Chhattisgarh and Karnataka, India, together with grinding units, bulk packaging terminals and ready-mix concrete plants to be located across the country. Orders have been placed for major equipment, UltraTech notes. These expansions are expected to be operational from early FY14, thereby enhancing the company’s cement capacity by 9... |
Standard Bank sees attractive East Africa demand growth26 April 2011, Published under Cement NewsStandard Bank’s research team has initiated coverage of the three Kenyan cement producers and sees regional demand growing at an attractive rate. However, increased capacity indicate a phase of declining utilisation rates coupled with the risk of further pricing pressures going forward. Additionally, competitive pressures have intensified in East Africa particularly on the back of an increase in cheap cement imports. Companies under Standard Bank’s coverage include Bamburi Cement, Athi Riv... |
Bolivia gov’t denies nationalisation of or intervention in Soboce?26 April 2011, Published under Cement NewsBolivia’s Communication Minister, Iván Canelas, on Tuesday rejected the nationalisation or intervention of local cement producer Sociedad Boliviana de Cemento (Soboce), in response to local media reports. "We were a bit alarmed that some circles are speculating on Soboce’s nationalisation or intervention," he said in a press conference given at the Government Palace. "The Government categorically rejects these versions." |
Indian margins to remain under pressure in FY1226 April 2011, Published under Cement NewsHigher input costs are impacting company margins with cement producers also feeling the pinch of a demand-supply gap, analysts suggest. Indian cement companies’ earnings will remain under pressure through the financial year 2011-12, on account of over-capacity, weak realisations and rising input costs, according to industry analysts. "The cement sector faces an oversupply situation. The demand-supply gap is likely to remain significant, despite expected double-digital growth in FY12," Nov... |
JK Group targets further cement investments25 April 2011, Published under Cement NewsJK Group has announced a INR15000 crore investment plant, which will include INR7000 crore earmarked for its new energy generation business via Bharat Hari, and INR8000 crore for expanding other product portfolios including JK Cement by building new cement manufacturing plants across the country. |
Shree Cement invests in new 2Mta plant25 April 2011, Published under Cement NewsShree Cement, which is currently one of the biggest cement manufacturing companies in the northern region with 12Mta capacity, has drawn up plans to set up a 2Mta cement plant near Raipur in Chhattisgarh entailing an investment of INR1000 crore. The company has already acquired 75 percent of the total land required for the project and is setting up its cement manufacturing unit very shortly, Managing Director H M Bangur told NBM Media. Shree Cement will use internal funds to pay for the inve... |
Jordan approves new cement plant licences25 April 2011, Published under Cement NewsThe Jordanian government recently approved a decision to grant licences to new cement factories on condition that their output is for export only. Minister of Industry and Trade Hani Mulki told The Jordan Times that new factories which wish to invest in the country should provide the government with guarantees not to sell their products in the local market. However, the Mulki noted that the new decision will be reconsidered at the beginning of 2012 after studying the local market needs. If... |
Holcim mulls Philippines plant investment25 April 2011, Published under Cement NewsHolcim Philippines is planning to invest around USD500m in a new cement plant to service an expected surge in demand in coming years, according to a report in the Philippine Daily Inquirer. The company is reportedly operating near its rated capacity of 7.8Mta, and Holcim chief operating officer Roland van Wijnen said the company would make a decision over the course of this year on whether to activate more idle assets to increase capacity or build an entirely new cement line. |