Cement News tagged under: international
BofA Merrill Lynch lifts Italcementi price target15 March 2011, Published under Cement NewsExperts at Bank of AmericaMerrill Lynch have decided to raise the price target on the ordinary shares in Italian cement maker Italcementi to EUR 5.90 from the previous EUR 5.00. The bank also lifted the price target on Italcementi’s savings shares to EUR 3.70 from EUR 3.10. Italcementi ordinary shares were gaining 0.68% to EUR 7.455 at 0958 CET on the Milan Stock Exchange on Monday. |
Indonesian producers encouraged to increase capacities15 March 2011, Published under Cement NewsIndonesia’s State-owned Enterprises Ministry is encouraging state-run cement companies to increase their production capacity as market prospects improve. Production can be increased through various corporate actions such as acquisitions. PT Semen Gresik (Persero) currently plans to acquire a Malaysian cement company. ’If Semen Gresik’s management feels it needs to acquire a company or expand, I think it’s fine,’ SOE minister Mustafa Abubakar said in Jakarta last weekend. Earlier, the CEO o... |
Taiwan cement producers enjoy brisk sales in China15 March 2011, Published under Cement NewsThanks to recovery in demand, Taiwan’s leading cement producers, including Taiwan Cement Corp, Asia Cement Corp.and Goldsun Development & Construction Co, are enjoying strong performances in China. After experiencing several months of lower output, Taiwan’s leading cement firms investing in China have resumed normal deliveries since the beginning of March. Taiwan Cement said it has fully opened production capacity in the southern China provinces of Guangdong and Guangxi. Goldsun said it is... |
Vietnam produces 8.7Mt of cement in Jan-Feb15 March 2011, Published under Cement NewsVietnam produced 8.7Mt of cement in the first two months of this year, the General Statistics Office said. The figure represented a YoY increase of 19.4%, the GSO said in its statement released recently. In February, the country’s cement output was 4.1Mt, up 38.1% YoY, the office added. Vietnam’s cement consumption is forecast to stand between 54.5Mt and 56Mt this year, up 9% and 10% from a year earlier. |
Jidong Cement’s parent secures funding14 March 2011, Published under Cement NewsJidong Development, the parent company of Jidong Cement, which is backed by New Horizon Capital and the Government of Singapore Investment Corporation Pte Ltd (GIC), has secured CNY 786m from two Tianjin registered private equity funds. The two investors are Rongyuan Growth (Tianjin) Equity Investment LP and New Horizon Growth (Tianjin) Equity Investment LP, a fund under management of New Horizon Capital. After the placement, Jidong Development is 90% owned by the Tangshan State-owned Ass... |
Siam Cement Group lays Vietnam foundation14 March 2011, Published under Cement NewsSiam Cement Group (SCG), Thailand’s top industrial conglomerate, aims to nearly triple its building material sales in Vietnam to about THB1bn by 2015 as it captures rising spending power in the country. Sattawat Thitaram, the Vietnam country director of SCG Building Materials, said the company would open a showroom in Ho Chi Minh City next year following last week’s official launch in Hanoi. SCG aims to achieve total building material sales in Vietnam this year of around US$13m (THB420m), u... |
Saudi sets up national committee for cement companies14 March 2011, Published under Cement NewsIn a new move to strengthen the Kingdom’s cement industry and bring stability to local market prices, a national committee has been set up for cement companies under the umbrella of the Council of Saudi Chambers of Commerce and Industry. The committee held its first meeting at the council’s headquarters in Riyadh on Saturday and elected Zamil Abdul Rahman Al-Muqrin as its chairman. Al-Muqrin said the committee, which includes investors in the industry, would contribute to strengthening the... |
Production start-up at Senegal14 March 2011, Published under Cement NewsAt the Kirene plant of Les Ciments du Sahel SA, Senegal commissioning of the 3600tpd cement clinker production line is progressing fast. The great demand for cement in Senegal and the neighbouring countries prompted the Senegalese company to extend its existing cement production facility by adding a second production line. Polysius supplied all equipment and machines from the raw material grinding system, up to the cement grinding system, including the kiln line. |
Kuwaiti Hilal Cement net profit jumps to US$2.6m in 201011 March 2011, Published under Cement NewsKuwaiti cement producer Hilal Cement said in a bourse filing its net profit surged to KWD 714,937 (US$2.6m/) for 2010 from KWD 26,677 a year earlier. The company reported earnings per share (EPS) of 10.23 fils, compared to 0.38 fils. The total assets stood at KWD21.8m at end-2010, slightly up from KWD21.5m a year earlier. The board of directors has recommended to shareholders a 10% cash dividend for 2010, equal to 10 fils per share. |
India’s growth in production rises11 March 2011, Published under Cement NewsGrowth in India’s cement production rose to a four-month high of 5.5% on year in February to 14.69Mt, the Cement Manufacturers’ Association said. February output was marginally lower than 14.70Mt produced a month ago. Cement despatches in February rose 6.3% on year to 14.62Mt, the association said. Cement output in Apr-Feb, the first 11 months of 2010-11, rose 4.6% to 151.37Mt, while despatches grew by 4.5% to 150.33Mt, the association said. |