Cement News tagged under: international
Nepal cement plant resumes production01 November 2010, Published under Cement NewsNepalese cement producer, Hetauda Cement Industry, has resumed production after a gap of one month due to maintenance work. The producer halted cement production for the last four weeks although it had stored necessary raw material and limestone after its clinker machines required maintenance. The kiln also needed repair work carried out. According to industry management, it took more tieme than the expected to carry out repair works as technicians had to be brought from India. |
GCC profits plunge 49.5%01 November 2010, Published under Cement NewsMexico-based producer Grupo Cementos de Chihuahua reported net earnings of MXP106m (US$8.54m) in the third quarter of 2010, down 49.5% from the same period last year. Net sales for the quarter declined 9.7% to MXP2.35bn, compared with MXP2.6bn in 3Q09. Sales in Mexico and Bolivia were up 6.6% and 10.2% respectively. However, US sales slumped 17.5% to MXP1.48bn, the company said in its quarterly results report. GCC attributed the drop in sales to the peso’s appreciation against the dollar ... |
Votorantim receives approval for Cuiaba plant, Brazil01 November 2010, Published under Cement NewsVotorantim Cement yesterday received approval from the State Department of Environment (SEMA) in Mato Grosso to begin construction of a cement plant in Cuiaba. Scheduled to begin operations in 2012, the unit will be capable of producing 1.2Mta The new plant is part of the plan to expand the capacity of Votorantim Cement, to cover all regions of Brazil to meet growing demand. |
Shui On to shift focus from cement to property01 November 2010, Published under Cement NewsShui On Construction and Materials Co or SOC plans to increase investment in Chinese real estate market and to gradually fade away from cement market, according to CEO Wong Kun To. The firm is seeking investment partners in a new private equity fund with capital ranging from US$200m to US$300m and that the fund’s details will be unveiled at the middle of November, Wong said. The Hong Kong-listed firm’s property business will not conflict with that of afflicted company Shui On Land Co, b... |
Nigerian cement demand to rise 45%01 November 2010, Published under Cement NewsDemand for cement in Nigeria, sub- Saharan Africa’s second-biggest economy and the continent’s most populous nation, is expected to rise 45 per cent in 2010, Stanbic IBTC Bank Plc said. Output of the building material may increase 63 percent this year, while demand will surge to as much as 47.9 million metric tons a year by 2014, Lagos-based analysts including Tomi Ajai, Bunmi Njugo and Esili Eigbe wrote in an e-mailed report dated Oct. 27. “Nigeria is one of the lowest cement-consuming ... |
ACC October shipments rise01 November 2010, Published under Cement NewsIndia’s No. 2 cement producer, ACC Ltd, said on Monday shipments in October rose 13.6 per cent from a year earlier to 1.92Mt. The company, in which Holcim holds about 46 per cent, said production in October rose 15.8 per cent to 1.98Mt from 1.71Mt a year ago. |
China slowdown to put dampener on demand01 November 2010, Published under Cement NewsChina’s introduction of measures in April 2010 to avoid a potential housing bubble have precipitated a decline in global steel prices as the government attempts to control residential construction activity and unwinds infrastructure spending. Subsequent measures, notably the interest rate hike in October 2010, have further underlined the government’s commitment to this path, thus pointing towards a deceleration in global cement and steel demand in 2011. Indeed, given that China accounts for... |
Leube Grödig’s new preheater plant, Germany30 October 2010, Published under Cement NewsA new preheater tower for German cement producer Leube Grödig is now being commissioned enabling the company’s operations to be more cost-effective and environmentally-friendly. The EUR31m project is the largest investment by the company in the past 50 years. The new equipment encompasses waste heat recovery technolgy, saving about 8mlb of coal per year, technical manager of Leuber, Gunter Walden said |
Ash Grove to temporarily reduce workforce, USA29 October 2010, Published under Cement NewsFor the second straight winter, Ash Grove Cement Co. will temporarily reduce its workforce at its plant in Montana City, as the company continues to see soft demand for its products. Plant manager Dick Johnson said 33 workers will be sent home after their shifts on Friday, December 3. It’s unclear exactly when the workers will be called back, "but we’re pretty sure it won’t go much later than the first of March," Johnson said. The Overland Park, Kansas-based firm announced the cutbacks at ... |
Morgan Stanley raises Siam Cement target, Thailand29 October 2010, Published under Cement NewsMorgan Stanley raises Siam Cement target to THB305 vs THB270 on stronger-than-expected 3Q results and raised confidence in recovery of chemical margins from 2H11 onward. Keeps at Equal-weight. "We regard SCG as fairly valued on our new forecasts. Within the Asia Pacific cement group, SCG ranks fifth in our composite score rating and appears more overvalued in terms of its P/B to ROE," says house. |