Cement News tagged under: international
Court begins hearing of Ciments Francais suit against Siberian Cement Holding04 March 2011, Published under Cement NewsThe Kemerovo region Arbitration Court began hearing of a suit brought by Italcementi-owned Ciments Francais against OAO Siberian Cement Holding. The France-based company wants a foreign court ruling relating to its sale of the Turkish Set Group to Siberian Cement, recognised in Russia. Under the ruling, Ciments Français is not to return a €50m advance payment to Siberian Cement when the latter agreed to buy Set Group. Ciments Français agreed on 2 April 2008 to sell its Turkish assets for €... |
Nigeria: Government may revoke Edo Cement Co sale04 March 2011, Published under Cement NewsThere are indications that Edo State Government may revoke the sale of Edo Cement factory, Okpella which was privatised by the past administration, if the plant does not restart production within two weeks. The Governor of Edo State Adams Oshiomhole gave the hint when the Okuokpellagbe of Okpella kingdom, His Royal Majesty Dr Alhaji Aye Dirisu paid him a courtesy visit at Government House, Benin City, on Wednesday. “The Edo Cement factory has become an embarrassment. I will direct the atto... |
South Africa: construction costs threaten industry04 March 2011, Published under Cement NewsThe price gap between an existing and new house is at a new record level and it is now 33.8% cheaper to buy an existing house than to build a new house. This suggests that an improvement in activity levels in the beleaguered building industry is a long way off as demand for new houses is likely to remain low, negatively impacting cement sales. Pretoria Portland Cement (PPC) was concerned about the outlook for the local building and construction industries in the short term as cement sales ... |
ACC shuts Ghugus plant, India03 March 2011, Published under Cement NewsACC has shutdown its old plant in Ghugus MIDC area in accordance with Maharashtra Pollution Control Board (MPCB) directions on Monday midnight. The company will soon commission a new cement plant on the same site. MPCB had forced the ACC management to shut its old plant with a 0.9Mta capacity on November 30, 2010, for repeated violation of pollution standards. However, the company managed to get a temporary respite from the board and it was granted permission to operate its old plant from... |
Kenya prices may fall on rising competition03 March 2011, Published under Cement NewsCement prices in Kenya may fall as much as 10 per cent this year because of increased competition, Business Daily reported, citing the heads of two domestic producers of the building material. In December, wholesale prices for a 50kg bag of cement dropped to KES600 (US$7.25) from KES60 shillings previously, the Nairobi-based newspaper said. A further decline may reduce cement companies’ profits, it said, citing East African Portland Cement Co. Chief Executive Officer Kephar Tande and Athi ... |
UAE competition forces Oman cement prices down03 March 2011, Published under Cement NewsRevenue-stricken cement firms in the UAE have been stepping up their sales into Oman, forcing down prices by a quarter in the growing Sultanate, according to Raysut Cement Company. The Muscat-listed manufacturer informed shareholders in its annual report that cement consumption nationwide rose 7.5% on the back of a 6% rise in economic growth, buoyed by government support for infrastructure projects and improved business confidence. But an over-supply of around 6Mt in the UAE, due to a mor... |
Pakistan’s sector losses cut by half03 March 2011, Published under Cement NewsA 24 per cent increase in cement price during the quarter ended December 31, helped the sector slash its net losses by 50 per cent in comparison with the same quarter last year, a brokerage house said on Wednesday. The cement sector posted a cumulative loss of PKR794m (US$9.3m) in the second quarter of 2011, which was 50 per cent lower than PKR159m losses the sector recorded in the corresponding quarter in 2010, said Amreen Hirani, analyst at Invest & Finance Securities. Earnings of th... |
VIcat performs strongly in Switzerland, Turkey, India03 March 2011, Published under Cement NewsIn spite of its Asian expansion, Vicat has managed to retain a strong solid balance sheet with a gearing of 38.6% at the end of December, compared with 31.4% a year earlier. The net debt of EUR998.3m compares with total shareholders’ funds of EUR2557.1m, of which the equity makes up EUR 2,141.0m and minorities EUR416.1m. Capital investment last year was 18.9% higher at €321.3m, with increased investments going into Kazakhstan and India and net spending on acquisitions jumped from some EUR 20... |
India’s Jaiprakash Feb cement shipments up 36% YoY02 March 2011, Published under Cement NewsIndia’s Jaiprakash Associates said on Tuesday cement shipments in February rose 36 per cent to 1.52Mt. The engineering and construction firm, which also has interests in hospitality and power, has the capacity to produce 21.3Mta of cement. |
Cimpor plans to build new plant in Brazil02 March 2011, Published under Cement NewsCimpor said Tuesday that it plans to build another unit in Brazil, in addition to the two plants announced in November last year. In November, Cimpor announced investments to build a plant in Caxitu, Paraíba state (Northeast), and another one in Cezarina, Goiás state (Center-West). As Cimpor operates in Brazil’s Northeast, Center-West and South, the new plant will be in the South, CEO Francisco de Lacerda said, adding that construction of this new plant shouldn’t start anytime soon. Cimpo... |