Cement News tagged under: international
Saudi cement sector seen recovering25 October 2010, Published under Cement NewsA recovery in the Saudi construction sector due to sustained high public spending and better economic conditions will give a boost to cement producers in Saudi Arabia following a slowdown, according to a study by National Commercial Bank (NCB). The Gulf Kingdom’s domestic market for cement has been well supplied by the 13 local factories during the first nine months of this year, with total production growing by 13.9 per cent to 32.2Mt as one more factory, Al-Jouf Cement came on-stream with... |
Philippines DTI against raising cement tariff25 October 2010, Published under Cement NewsThe Philippine Department of Trade and Industry (DTI) will not agree to the position of the Department of Finance to stop the extended zero tariff on cement and wheat, steel and petroleum products, but is open to reviewing zero tariffs on other commodities in light of the strong peso which has affected the Bureau of Customs’s collection. DTI Secretary Gregory L. Domingo told reporters at the opening of the 52nd edition of the FAME at the World Trade Center that he had discussions with Finan... |
QNCC profits up 39%, Qatar25 October 2010, Published under Cement NewsQatar National Cement Company has bucked the regional trend for cement manufacturers by posting a higher profit for the first nine months of this year than the same period in 2009. The Doha-based manufacturer of cement and lime revealed gross profits of QAR385.2m (US$105.7m) from QAR275.8m last year, up 39%, produced by a decrease in sales costs that offset a fall in revenues, which were down more than 30%. A fall in finance charges meant that the after-tax income reached QAR378m, up 16.9%... |
India’s Binani posts second-quarter fall25 October 2010, Published under Cement NewsIndia’s Binani Industries on Friday reported a INR1.18 crore (US$265,000) profit for the quarter ended September 2010 on fall in cement prices amidst a prolonged monsoon. The company had recorded INR101 crore net profit in the corresponding quarter last fiscal year, it said in a statement. "The scenario (fall in net profit) is mainly because of a drop in expected demand due to early on-set and longer period monsoons, which led to lower realisations in the industry as a whole," the company s... |
Oman’s Raysut in acquisition talks25 October 2010, Published under Cement NewsRaysut Cement Co is holding acquisition talks with several companies and expects to reach an agreement within a month, its chief financial officer said on Sunday. ’We have been exploring acquisitions for some time now. There is still some way to go. The important thing is the tonnage capacity. We won’t go for below 1Mt capacity,’ Samidh Mukhopadhyay told Reuters in an interview. ’It (a deal) may be announced in a month’s time because the dialogue is still happening.’ Mukhopadhyay declined... |
Sri Lanka new port attracts cement terminal investment25 October 2010, Published under Cement NewsA new port being built in Sri Lanka’s southern Hambantota has drawn investment proposals from local and foreign businesses including an investment from India’s fifth largest cement maker, Madras Cements. A Sri Lanka Ports Authority statement said that 27 local and foreign companies among 63 that collected the request for investment proposals have submitted bids. "The response shows investors are keen to invest in the new port," said Agil Hewageegana, SLPA chief engineer in charge of the por... |
CNC International to invest in Nigeria25 October 2010, Published under Cement NewsAn American company is building a cement plant in Bauchi (Nigeria). CNC International of Miami, Florida, has announced plans to invest US$150m to build a new cement plant in Bauchi State in Nigeria. Suraj Adebisi, company representative, argued, Monday, October 11, Bauchi, during his visit to Governor Isa Yuguda, that: "The company has completed all environmental studies and found enough raw materials and mineral resources to build a cement factory, a lifetime of more than 40 years in the ... |
Jefferies reduces Cemex EBITA estimates25 October 2010, Published under Cement NewsWeak cement shipments data in July and August, principally in the US, have caused analysts at Jefferies International to reduce its EBITDA estimates for 2010 and 2011. It has reduced its EBITDA forecasts from US$2.573bn to US$2.382bn for 2010 and from US$2,720bn to US$2.644bn for 2011. The revised forecast is 10% below the company’s current guidance for 2010 (US$2.65bn) and 5% below Bloomberg’s estimate of consensus (US$2,516m). The latter has declined by US$50m during the last four weeks, ... |
Relocation of factories from Helwan underway, Egypt25 October 2010, Published under Cement NewsThe governorate of Helwan has begun the implementation of plans to relocate 80 polluting factories to the industrial zones of al-Kreimat, Beni Suef. In consequence of reports saying that local lakes have receded due to agricultural and industrial activities and the establishment of fish farms, the Ministry of Agriculture has finalised a plan to prevent further encroachments on these lakes and the surrounding area. Mohamed Abdel Zaher, general secretary for the governorate of Helwan, said t... |
CMA fines Tabuk Cement, Saudi Arabia25 October 2010, Published under Cement NewsThe Capital Market Authority (CMA) has fined Tabuk Cement Company SAR100,000 (US$26,665) for violating CMA regulations as the company delayed the announcement of the decision taken by its board of directors to distribute dividends for first half profits. According to news reports carried by Tadawul website on Monday, the CMA also fined Al-Ahsa Development Co. SR100,000 for failing to inform the CMA and the public about a legal case against the company demanding SR24.5m. |