Cement News tagged under: international
Citadel cement unit ANCC signs US$193m loan04 October 2010, Published under Cement NewsASEC, the cement-making unit of Cairo-based Citadel Capital, has signed a EGP1.1bn (US$193.2m) loan to finance the construction of a new cement works. The nine-year loan will cover about 52% of the investment to build a 1.6Mta plant in Minya, south Egypt, with the company providing the balance from its own funds. Al-Arabiya al-Wataniya (ANCC), which is part of ASEC, aims to double annual cement output in the Middle East and North Africa to 12Mt by 2013 to tap into markets that are expand... |
Pakistan’s cement market contracts in FY2009-1004 October 2010, Published under Cement NewsCement production in Pakistan fell by 4.69% in July from 2.665Mt last year to 2.540Mt, according to the Federal Bureau of Statistics. In its latest release of business results, the industry revealed a series of losses. According to industry sources, low cement prices and high electricity costs squeezed profit margins and several companies went into the red. A series of company results released indicates that Pakistan’s cement companies have booked losses during the past financial year, whi... |
Buddha Cement Factory vandalised, Nepal04 October 2010, Published under Cement NewsBirpur-based Buddha Cement Factory was vandalised and set on fire in Kapilvastu last night, causing a damage of property worth INR135,000. A gang comprising 10-12 masked men vandalised the factory’s office and set its important documents and furniture on fire. A team of police from the Area Police Office, Chandrauta, reached the site immediately after the incident and doused the fire. Police have suspected dissatisfied workers of the factory might have resorted to the move and an investig... |
Lehigh Valley decries Staten Island cement import terminal04 October 2010, Published under Cement NewsA union representing Lehigh Valley cement workers objects to the use of US$28m in federal stimulus funds to help build a shipping terminal that it says will make it easier to import foreign cement. The US$51.7m terminal in Staten Island, N.Y., is being built by Cementos Lima of Peru, according to Jonathan Wolfel, representing district council No. 1 of the Lehigh Valley United Steelworkers Union. The union represents workers at local cement plants including Essroc in Nazareth and Keyston... |
Italcementi to benefit from Egypt export ban01 October 2010, Published under Cement NewsAnalysts believe the expiry of an Egyptian ban on cement exports will have a decisively positive effect on Italian cement maker Italcementi ,which operates in Egypt via a subsidiary. Egypt said it would not extend the ban on cement exports, which ended yesterday, a decision that could help stabilise cement prices. Analysts at Mediobanca said the impact will be very favourable for Italcementi, which is a market leader in Egypt with a business that contributes 29% to its earnings before inte... |
Chennai: realtors oppose steep hike in cement price01 October 2010, Published under Cement NewsBuilders, contractors and real estate developers in the city, who are up in arms against the steep increase in the prices of cement in the last 10 days, have threatened to import cement bags from countries like Pakistan, Ukraine and Iran if the State Government does not take concrete steps to contain the menace on a war footing. Addressing the media here on Wednesday, T Chitty Babu, President, Confederation of Real Estate Developers Association of India (Credai), Tamil Nadu, said, “In the l... |
Cement prices in south India may decrease01 October 2010, Published under Cement NewsAfter two recent hikes in the cement prices in South India, prices are set to go down as a capacity surplus overtakes the slowing demand by a huge margin, according to analysts covering the sector. There have already been two round of price hikes in the southern region in the range of PKR100-120 in September as cement manufacturers looked to curb losses. "We believe these price hikes are not sustainable as they are driven by players in the south who fear making EBITDA losses in the coming ... |
Pioneer Cement reports losses, Pakistan01 October 2010, Published under Cement NewsPioneer Cement Ltd (PCL) has reported a loss after tax of PKR590.925m for the year ending June 30. According to financial results sent to KSE here on Wednesday, the pre-tax loss of the company has jumped to PKR859.319m during the period under review against a profit before tax of PKR174.30 last year. The company reported a loss per share of PKR2.87 compared to an earning per share of PKR0.18 in 2009. |
Nigeria: self sufficiency in cement production01 October 2010, Published under Cement NewsThe Federal Government of Nigeria on Thursday reiterated its commitment to work towards the country becoming self sufficient in cement production by 2013. The Minister of Commerce and Industry, Jubril Martin-Kuye, made the pledge at his 2010 ministerial news conference tagged, ‘2010 Ministerial Score Card’. He said the country had no business still importing cement with its abundant natural human resources for cement production. Mr. Martin-Kuye described cement as a resource-based product... |
Siam Cement sells stake in industrial estate firm01 October 2010, Published under Cement NewsSiam Cement PCL said Friday that it has sold its remaining 75% stake in SIL Industrial Land Co. to Hemaraj Land & Development PCL in a deal worth THB760m (US$25.1m). The sale comes after its recent divestment of a 25% stake in SIL Industrial, an operator of industrial estates with a total area of 7,100 rai (1,136 hectares) in Saraburi and Rayong provinces, to Hemaraj, the company said in a filing with the Stock Exchange of Thailand. SIL Industrial said that at the end of 2009, it had asset... |