Cement News tagged under: international
Cemex nine month turnover down27 October 2010, Published under Cement NewsIn the first nine months of 2010, Cemex’ turnover declined by 4.6 per cent to US$10,576.7m while the EBITDA was off by 15.9 per cent to US$1829.1m. At the trading level, the profit reduction was 31.1 per cent to US$727.8m and the net interest charge was up by 41.3 per cent to US$934.5m. The Mexican share of turnover stood at 24 per cent, while for the EBITDA the share was 47.3 per cent compared with 39 per cent a year earlier. Europe accounted for 34.6 per cent of turnover and for 19.5% o... |
Carib Cement trying to reduce workforce, Jamaica27 October 2010, Published under Cement NewsCaribbean Cement Company Limited has revealed plans to reduce its workforce, but says the number is subject to union talks. No timeline was given for the job cuts or how many people it would affect, but all levels of employment in the company are expected to be affected as Caribbean Cement seeks to reduce its fixed costs by 20 per cent. It currently employs 320 full-time staff and 50 casual workers, and its wage and salary bill was J$1.4bn in 2009. "Carib Cement has been adversely affecte... |
Pakistan producers continue to report losses27 October 2010, Published under Cement NewsThe profitability of a large number of Pakistan cement producers and exporters continued to show losses in FY3Q10 and 1QFY10-11 (July-September), due to lower sales, increased production costs, high interest rate and a decline in margins. An increase in cement prices of PKR 35/per bag during the period under review could also not compensate for the declines, according to analysts. Hence no incentives were announced to shareholders. Lafarge Pakistan reported a huge loss of PKR1bn (US$11.... |
Birla Corporation net profit down, India27 October 2010, Published under Cement NewsBirla Corporation Limited, the flagship company of the MP Birla Group, posted profit (after tax) of INR68.97 crore in the second quarter of financial year 2010-11, against INR152.05 crore in the corresponding quarter last year. Turnover for the quarter was INR550.34 crore against INR556.31 crore posted during corresponding quarter last fiscal, according to a company statement. Profitability of the company declined due to lower clinker production on account of shutdown of the plants for ca... |
CSN to invest US$2bn in Latin America27 October 2010, Published under Cement NewsCompanhia Siderurgica Nacional (CSN), the largest diversified Brazilian steel group, plans to invest US$2bn over the next three years to expand its cement business in Latin America, its CEO said in an interview with Reuters. "We will invest 10Mt, US$2000m," said company chief executive, Benjamin Steinbruch. Last year CSN entered the cement market by opening a plant in Volta Redonda in Rio de Janeiro state, and from 2011 will start the new wave of investments. "Brazil is going to be first... |
Peru: Cementos Pacasmayo 3Q profit up over 20%27 October 2010, Published under Cement NewsCementos Pacasmayo, said on Tuesday its profit rose more than 20 per cent in the third quarter at a time when the construction sector is growing at strong rates because of a strong performance of the local economy. Net sales by Cementos Pacasmayo grew 17.3 per cent YoY in the third quarter to PLN242m, the company said. The Peruvian construction sector this year has been a strong driving force for local growth, with double-digit rates in recent months. |
Brazil August sales up 10.2%26 October 2010, Published under Cement NewsPreliminary data industry data and market estimates indicate that domestic cement sales over the 12 months (September 2009-August 2010) reached 56.4Mt, representing an increase of 10.2 per cent versus the same period the year earlier (September 2008-August 2009). In August 2010, domestic market sales reached 5.4Mt. For the eight months between January-August 2010 sales amounted to 38.2Mt. |
Morgan Stanley raises Ambuja Cements target price, India26 October 2010, Published under Cement NewsMorgan Stanley has increased the target price of India-based Ambuja Cements. The financial institution has raised the target price of the company to INR161 from INR127. The brokerage said, ‘We believe that a pick-up in demand will support volume growth in second half of FY11 and that effective capacity growth will be lower relative to consensus estimates. This should support cement prices and uplift earnings momentum. In our view, cost will be less of a concern in the near ... |
Holcim Philippines to consider coal term contract offers26 October 2010, Published under Cement NewsHolcim Philippines intends to solicit term contract offers involving up to 750,000tpa of Indonesian coal, industry sources said. One source said the volume of coal that Holcim Philippines will procure will depend on the quality of material offered by Indonesian coal shippers, adding that less will be required if the cargoes are of relatively good quality. Holcim Philippines will shortly start entertaining offers and has not set an actual deadline for receiving bids. The source said Holcim... |
Fauji Cement’ profit down, Pakistan26 October 2010, Published under Cement NewsFauji Cement Company Ltd has posted a lower profit after tax of PKR105.890m (US$1.2m) for the quarter ending September 30, 2010. According to financial results of the company dispatched to Karachi Stock Exchange here Monday, the profit before tax has fallen to PKR135.881m for the period under review as earning per share also dropped to PKR0.15 compared to PKR 0.21 in the same period last year. |