Cement News tagged under: international
Southern Province Cement 9-month net profit drops05 November 2010, Published under Cement NewsSaudi cement producer Southern Province Cement (SPC), the Kingdom’s biggest cement firm in market value, said in a bourse filing that its net profit for the nine months ended September 2010 dropped to SAR494m (US$131.7m) from SAR553m a year earlier, or a decrease of 8.9% YoY. The earnings per share (EPS) stood at SAR 3.52, down from SAR 3.95. SPC explained the lower bottom line figures with a decrease in sales resulting from the tough competition on the local market, but did not give exact... |
India Cements reduces cement prices in Tamil Nadu05 November 2010, Published under Cement NewsIndia Cements has reduced prices of its cement to INR255-265 per 50kg bag, in Chennai and Chengalpet and INR265 per bag to stockists in other districts of the state of Tamil Nadu. This has come in two days after the state government asked cement makers to take steps to cut escalating cost of the key construction component. On Tuesday, Chief Minister M Karunanidhi had chaired a meeting of top heads of the state government and cement manufacturers, during which the government urged the latte... |
Boral blighted by US gloom and bad weather05 November 2010, Published under Cement NewsBuilding products company Boral had a bumpy start to the financial year, with continued economic uncertainty in the US and wet conditions in Australia affecting operations. Chief executive Mark Selway has forecast a flat first half, with conditions picking up in the second half. The US housing market remained difficult, with no let up for the remainder of the year, he told shareholders at the company’s annual general meeting yesterday. The company took a hit of $285 million when it decided... |
US sees monthly shipment gains05 November 2010, Published under Cement NewsAccording to recent figures from the US Geological Survey, total shipments of Portland and blended cement in the United States and Puerto Rico for August 2010 were 7.3Mt. This was about 6% higher than shipments in August 2009. Year-to-date shipments through August were 46.2Mt, down by about 4% from those of the same period in 2009. The leading producing States (Texas, Missouri, California, Michigan, and Pennsylvania, in descending order) shipped 41% of the August total. The leading consum... |
Pakistan: Bestway Cement receives financing??05 November 2010, Published under Cement NewsPakistan’s one of largest cement producers and operators, Bestway Cement Limited (BWCL) in the northern region, said it has obtained Syndicated Term Finance Facility value PKR2.050bn (US$23.84m) from local financial institutions to part finance ongoing company operations and to meet other expenses. An official of Bestway told CemNet.com that funds will be provided by Allied Bank Ltd. (ABL), Habib Bank Ltd. (HBL), The Bank of Punjab (BoP) and Faysal Bank Ltd. (FBL). The ABL will act as fin... |
Cement industry sees slump04 November 2010, Published under Cement NewsCement factories in the Parsa-Bara Industrial Corridor are heading towards a crisis for lack of adequate demand at a time when construction activities normally intensify. Development activities have slowed in the absence of a budget, and construction of housing projects has slackened following Nepal Rastra Bank’s curb on real estate lending. The central bank has recently lifted restrictions on lending to housing projects through the new monetary policy, but loans for buying land are still b... |
Cement manufacturers asked to take steps to cut costs04 November 2010, Published under Cement NewsThe Tamil Nadu government asked cement makers to take steps to reduce escalating cost of cement amid demand from various quarters, including the Opposition AIADMK, to control prices. Chief minister M Karunanidhi chaired a meeting of top heads of the state government and cement manufacturers during which the government urged the latter to make efforts to reduce cement prices, which have been on the rise for the past few months. The state government’s action comes days after AIADMK chief and... |
Vietnam cement sales forecast to rise 10% in Nov04 November 2010, Published under Cement NewsThe Price Management Department under the Ministry of Finance forecast cement sales in Vietnam will increase 10% on-month in November. The higher demand will result in slight price rises of the building material, the Communist Party of Vietnam said on its website late Wednesday, citing the department. Vietnam Cement Industry Corporation (Vicem) estimates it produced 1.4Mt of cement and sold 1.35Mt in October. The firm, which now holds nearly a 40% domestic market share, raised cement pric... |
Lucky Cement to set up plant in Hebei province, China04 November 2010, Published under Cement NewsLucky Cement Corp., a listed cement producer in Taiwan, will establish a cement plant in Hebei province. Lucky chairman Chen Liang-chuan noted Taiwan’s cement industry won’t turn around in the near future, so his company will focus on setting up a cement plant in Handan of Hebei province, China, which will be launched sometime in 2011. Initially the plant will have an annual output of 2Mt before rising to 10Mt. While setting up the cement plant in China, Lucky will transform its oper... |
JPMorgan tips dim outlook for Taiwan producers04 November 2010, Published under Cement NewsTaiwan’s cement makers to remain pressured by slow domestic demand growth and competition from China’s cheap exports, says JPMorgan. "The cement sector has underperformed the market by 6% year-to-date and we see limited catalysts for a sector turnaround in 2011." The analysts tip Taiwan’s cement demand to be up +6% in 2011 vs +13% this year, export prices likely around breakeven or at loss next year as China exports keep global prices low. |