Cement News tagged under: international
My Home Industries capacity expansion, India09 November 2010, Published under Cement NewsHome Industries Ltd is planning to expand its cement capacity with an investment of Rs400 crore. The company intends to add a capacity of 1Mt at its plant in Visakhapatnam to take the capacity to 2.5Mt. My Home also has three cement plants near Hyderabad. The company intends to expand its capacity from 4.7Mt to 10Mt. My Home Industries is a joint venture between My Home Group and CRH Plc of Ireland. |
Italcementi incapable of meeting 2010 targets after 3Q – analysts09 November 2010, Published under Cement NewsSome Italian brokers said on Monday they did not exclude the possibility that local cement producer Italcementi could make a notable cut in the 2010 and 2011 estimates after the group published disappointing third-quarter results on Friday. Italcementi’s net financial debt was the only item that beat the analysts’ expectations, improving to EUR 2.357bn, against EUR 2.468bn forecast, most probably as an effect of net circulating capital and reduced investments. The group’s EBITDA, however, ... |
Credit Suisse keeps "outperform" rating on Lafarge09 November 2010, Published under Cement NewsCredit Suisse has reiterated its "outperform" rating on Lafarge, as well as the share price target of EUR48, after the company published last week its third-quarter results. According to the broker, the group reported a weak third-quarter performance, accompanied by pressure in Asia where Lafarge was hit by bad weather and an increase in costs. The company experienced similar pressure in Spain and Greece. However, Credit Suisse reckons that Lafarge has good chances to improve its financial... |
PPC’s profit falls, mulls Zimbabwe stake sale09 November 2010, Published under Cement NewsPretoria Portland Cement (PPC) Africa’s largest maker of the building material, said its full- year profit declined after South African cement demand fell for a third year. Net income for the 12 months through September fell to ZAR1.01bn (US$148m) from ZAR1.02bn a year earlier, the company said in a statement today. Sales were little changed at ZAR6.8bn. Cement volumes in South Africa, Botswana and Zimbabwe fell seven per cent during the period, mirroring a drop in construction in the re... |
Misr Cement mulls new markets in Africa to boost exports09 November 2010, Published under Cement NewsMisr Cement (Qena) of Egypt is eyeing new African markets for its exports and looking for Sudan, Uganda, Djibouti and Eritrea, Alborsa newspaper said. The step came after end of cement export ban last month in addition to increasing supply in Egyptian market due to operation of new plants. It is notable that, Misr Cement Qena posted a 14.2 per cent rise in net profit for the first half of 2010. The firm posted profit of E£219.6m (US$38.6m), up from E£192.3m in the same period a year ago. ... |
Holcim France announces expansion09 November 2010, Published under Cement NewsHolcim France will invest EUR70m in the construction of a grinding plant at the port of La Pallice, La Rochelle. The investment will create 22 direct jobs. The unit is slated to have a production capacity of 3500tpd. The company has obtained the building permit and is awaiting a permit to operate. Work should start in the second quarter of 2011 for commissioning in September 2013. |
CRH sees rate of decline easing09 November 2010, Published under Cement NewsBuilding materials group CRH said the rate of decline in its sales moderated in the third quarter of the year, a trend it expects to continue into the final quarter of the year. In an interim management statement this morning, the group said like-for-like sales fell 4 per cent in the three-month period, compared to a 10 per cent recorded in the first half of the year. In the nine months to the end of September, underlying sales at CRH have fallen eight per cent. In its Europe materials ope... |
Lafarge extends deadline of Aquino Museum redesign competition08 November 2010, Published under Cement NewsLafarge Cement Services (Philippines), Inc. has extended the deadline for the submission of letters of intent for the Aquino Museum Redesign Competition to November 12, 2010. Organised by Lafarge on behalf of the Ninoy and Cory Aquino Foundation, the contest aims to find the best design solution that will capture the impact of Ninoy and Cory on Philippine history. It is open to architects, interior designers, artists, curators, historians, social scientists and professionals from related fi... |
Cimpor net profit seen down08 November 2010, Published under Cement NewsThe net profit of Portuguese cement producer Cimpor is seen to have decreased by 8.3% YoY to EUR64.95m between July and September 2010, Santander estimates showed. The decline is explained with higher financial costs, which were very low in the same period a year ago, the bank said in a research note. Cimpor’s revenue is calculated to have increased by 4.8% on the year to EUR 578.6m in the third quarter of 2010. Compared to the second quarter, the net profit grew by 22.3% while the turnov... |
Asia Cement to raise US$600m in fresh funds08 November 2010, Published under Cement NewsThe board of directors of Asia Cement Corp, one of Taiwan’s leading producers of cement, recently approved to raise fresh funds of US$600m, or approximately NT$18.28bn, to set up plants in China and fund other projects overseas. Asia Cement will issue unsecured overseas exchangeable corporate bonds up to US$400m with maturity in five years, as well as issue unsecured overseas convertible bonds of up to US$200m in the next five years. Asia Cement noted the capital raised will fund prospecti... |