Cement News tagged under: international
Restart Of Italcementi Egypt Operations Positive28 February 2011, Published under Cement NewsThe restart of Italcementi’s activities in Egypt after a one-month production halt is positive, says Mediobanca. The restart signals political stabilisation in the North African country. Analyst notes though that doubts on the trend in cement demand in Egypt remain. Egypt is a strategic market for Italcementi with about 17% of the group’s turnover and representing about 29% of EBITDA. Egypt’s unrest increases uncertainty on the company’s 2011 prospects. Mediobanca keeps at neutral and has ta... |
Qilianshan to establish four subsidiaries28 February 2011, Published under Cement NewsGansu Qilianshan Cement Group will establish four subsidiaries in Gansu Province, according to a group filing. Three of the four new companies will have registered capital of CNY50m, with the fourth having CNY30m. Qilianshan Cement’s new entities will be involved in specific concrete and cement projects, dry-process cement production lines, and various auxiliary works. |
Bamburi full-year 2010 profit declines, Kenya28 February 2011, Published under Cement NewsLafarge’s Kenyan unit, Bamburi Cement Co, said full-year profit dropped 24 per cent on slower sales and higher electricity prices. Net income for the year through December fell to KES5.3bn (US$65m) from KES7bn a year earlier, Bamburi said in a statement. Revenue declined 6.3 per cent to KES28.1bn. The start of operations at a US$120m cement plant in Uganda from October will increase output by as much as 500,000tpa and probably help the company elevate profit this year, according to the s... |
Cemex looks to strengthen presence in China28 February 2011, Published under Cement NewsCemex is mulling a potential strategic partnership to strengthen its presence in the Chinese market, CEO Lorenzo Zambrano said. "China is consuming 50 percent of the cement produced worldwide," Zambrano told a press conference prior to an annual shareholders meeting in the northern city of Monterrey. Zambrano said the company already has permits and a strategic partnership for the production of pre-mixed cement in China, but he refused to provide further details "until a deal is finalized.... |
Malaysia to hike prices from 1 March28 February 2011, Published under Cement NewsCement prices will be raised by approximately six per cent to RM325/t (US$106) from a current RM307 (US$100), effective March 1. In its research report, RHB Research Institute Sdn Bhd (RHB Research) said this was in view of the high thermal coal prices in the global market. Although thermal coal prices had eased from the peak of US$138 per tonne in January during the flood in Queensland, Australia, the current price of about US$120 to US$125 per tonne was nevertheless still 21 per cent to ... |
Nuh Cimento acquires Kudret Enerji28 February 2011, Published under Cement NewsTurkish cement producer Nuh Cimento has acquired TRY 3.8m (EUR 1.73m) stake in Kudret Enerji Elektrik Uretim, which holds a production license of a 17MW hydropower plant and a regulator project called "Bagal Regulatoru and Kusluk HES Projesi" which is currently under construction. The statement issued to the Istanbul Stock Exchange explains that 99.99% stake in the company will be taken over by Nuh Cimento and the remaining stake will be taken over by Nuh Cimento’s subsidiaries. |
Lafarge Philippines wants to expand market share25 February 2011, Published under Cement NewsLafarge Cement Services (Philippines), Inc and Republic Cement Corp. want to further expand their market share in the next few years, an executive said yesterday. Infrastructure projects and new cement products will allow the companies to expand their business despite rising prices. "The Philippines is one of our top five markets in Asia. For us, we have a big market share here already, with 30%-plus market share," Don Lee, president of Lafarge Cement, said in a briefing yesterday. "We wi... |
Govt revives plan to sell Cement Corporation units, India25 February 2011, Published under Cement NewsThe Indian government is actively pursuing its plan to put seven non-functional units of Cement Corporation of India up for sale and invest the proceeds into three financially viable public sector cement units. This is despite the recommendations of a Parliamentary Standing Committee that these units should be revived through joint ventures or leased out to private producers. “Some of these units are located in prime locations in Delhi and Karnataka and private players had evinced intere... |
Italcementi to sell Set Group Holding, Turkey25 February 2011, Published under Cement NewsItalcementi Group announces that its sub-holding Ciment Français has agreed to sell Set Group Holding and its subsidiaries for a total amount of EUR290m (on a cash and debt free basis) to Limak Group, a diversified Turkish Group with investments in construction, infrastructure, cement, energy, transport and tourism. Set Group Holding – part of the existing industrial network of Italcementi Group in Turkey – operates three cement plants located in Ankara, Balikesir and Trakya (with a total c... |
Stable production at TPCC despite power hitches, Tanzania25 February 2011, Published under Cement NewsThe Tanzania Portland Cement Company (TPCC) Limited has said the power shortage in the country which started at the end of last year’s last quarter has been a major impediment to its production though it has recorded positive gains. Speaking at the firm’s annual ceremony to mark the achievements made nationwide by its cement distributors in Dar es Salaam recently, the company Managing Director, Lesoinne Pascal warned that if immediate measures will not be taken by to resolve the current pow... |