Cement News tagged under: international
Iran sees 18% growth in production06 September 2010, Published under Cement NewsIn the first five months of the current Iranian calendar year (started March 21) over 25.5Mt of cement has been produced in the country. IRNA news agency cited a report by the ministry of mines and industry stating the country’s industry sector has witnessed an 18 per cent growth in cement production compared to the same period last year. In the month of Mordad (July 22 to August 22) over 5.5 million tons was produced which is 15.5 percent more than the year before. In this period 24.4... |
Soboce shareholder: stake in Fancesa is worth US$80m06 September 2010, Published under Cement NewsSamuel Doria Medina, the principal shareholder with Soboce - partnered with Cementos Chihuahua - , estimates the 33.34% stake held by this company into the cement company Fancesa to be worth US$80m and is willing to collect this amount from the Bolivian government that issued a nationalisation decree for Fancesa. Medina values the assets of Fancesa at US$123m, and one-third of it at US$41m, while the market value would double up the book value. The entrepreneur explained Soboce purchased a... |
US: June 2010 shipments down 5% YoY06 September 2010, Published under Cement NewsThe US Geological Survey (USGS) reports that total shipments of Portland and blended cement in the United States and Puerto Rico for June 2010 were about 7.1Mt. This was only slightly lower than shipments in June 2009. Shipments through June were about 32.2Mt, down by about 5% from those of the same period in 2009. The leading producing States (Texas, Missouri, California, Missouri, Michigan, and Pennsylvania, in descending order) shipped 40% of the June total. The leading consuming States... |
Holcim Indonesia to start construction of new plant next year06 September 2010, Published under Cement NewsIndonesian cement maker PT Holcim Indonesia said it will start construction of a new cement factory in Tuban, East Java early next year. The implementation of the project, which will have an annual production capacity of 1.6Mt, has been delayed from last year on global economic crisis. Budi Primawan, a manager of the Indonesian unit, said the new factory is expected to be operational in 2013 and the company will seek a syndicated bank loan to finance the project. The new factory will incre... |
Shree Cement sees FY11 revenues flat, India03 September 2010, Published under Cement NewsShree Cement Ltd expects FY11 revenues to remain flat and margins are likely to slip further as cement prices soften, Chairman HM Bangur said on Thursday. "Over the last few quarters margins have been coming down and the trend is likely to continue during FY11," he told Reuters. In FY10, the firm recorded net sales of INR36.3bn. For the quarter-ended June, net profit fell 64 per cent to INR1.06bn on sales of INR9.44bn, mirroring its peers. The Rajasthan-based cement maker plans to invest ... |
Indian producers cut output as demand slumps03 September 2010, Published under Cement NewsCement makers have curtailed production following poor demand amid an active Southwest monsoon and a fall in realisations in August. Besides weak demand, South-based cement companies suffered a double whammy due to excess capacity. On the production front, high raw material prices and erratic power supply took a heavy toll on companies with comparatively lower production capacity. “Production in August was down largely due to annual maintenance work we had undertaken in some of our plants.... |
Murli Industries board OKs raising funds03 September 2010, Published under Cement NewsIndia’s Murli Industries Ltd said Friday it has dropped plans to sell a stake in its Chandrapur cement plant in the western state of Maharashtra, and will instead use other means to raise up to INR10bn to finance its future cement and power projects. In a regulatory filing, Murli Industries said it will raise funds either through a share sale to institutions, a depository receipts issue, a rights offering or via overseas convertible bonds. The funds will also be used to repay existing debt... |
Indonesia sales rise 10.7%03 September 2010, Published under Cement NewsIndonesian cement consumption in the year to July 2010 grew 10.7 per cent to 23.3Mt from a year earlier on improved domestic economic conditions. The improved economic condition leading to high demand for cement had boosted the growth of the domestic cement industry, PT Semen Gresik corporate secretary Sunardi Prionomurti said on Wednesday. "By the end of this year cement consumption will reach more than 40Mt, up 6-7 per cent compared to 2009," he said. Sunardi predicted that national cem... |
Steppe Cement narrows loss, Kazakhstan03 September 2010, Published under Cement NewsSteppe Cement Ltd reported a narrower loss for the six months ended June 30, primarily reflecting increase in sales volumes coupled with a rise in average sales price. For the half year, the group reported a pre-tax loss of US$4.60m compared to US$19.49m pre-tax loss last year. Loss attributable to shareholders of the company narrowed to US$3.88m or 2.5 cents per share from US$18.80m or 15.0 cents per share a year ago. Revenue for the first half increased to US$31.56m from US$24.84m last... |
Legal action filed against group opposing Lehigh quarry expansion02 September 2010, Published under Cement NewsLehigh Cement Company and Richmond Township filed a joint request to take legal action against the East Penn Valley Residents Association. The resident opposition group has opposed Lehigh Cement’s quarry expansion in Richmond Township and had been fighting it through a series of zoning public hearings that began in 2006 when Lehigh Cement first applied for the expansion. The Richmond Township Board of Supervisors voted 2-1 on May 10 to settle with Lehigh Cement, which will enable the c... |