Cement News tagged under: international
Vietnam cement glut forecast at minimal 2Mt this year28 July 2010, Published under Cement NewsVietnam is forecast to face a cement surplus of at least 2Mt this year due to the boom in new cement plants nationwide, the Ministry of Construction said. The Southeast Asian nation will likely have additional 16 cement plants this year, which will help bring the national cement supply to 65.66Mt during the year versus estimated demand of between 50 and 52Mt, the Lao dong newspaper reported Tuesday, citing the ministry. The country was warned of cement redundancy two years ago but investor... |
Tasek posts stronger 2Q net profit of RM19m, Malaysia28 July 2010, Published under Cement NewsTasek Corp Bhd’s net profit for the second quarter ended June 30, 2010 (2Q10) rose 9.6% to RM19.07m from RM17.4m a year earlier, mainly due to improved margin from lower cost of production coupled with local cement price revision. Revenue dipped 1.5% to RM139.84m from RM142.04m, while basic earnings per share (EPS) rose to 10.29 sen from 9.37 sen. No interim dividend was declared for 2Q10. Tasek’s net asset per share as at June 30 stood at RM4.86. On its prospect, the group said it expecte... |
Vietnam SCJ net profit up 4.93%28 July 2010, Published under Cement NewsSai Son Cement Joint Stock Company (SCJ), listed on the Hanoi Stock Exchange, said it made a net profit of VND22.27bn (US$1.17m) in the first half of this year, rising 4.93% from a year earlier. Its revenues rose 3.93% on year to VND140.43bn during the period, the firm said in its quarterly financial report. In the second quarter, SCJ’s net profit grew 14.42% on year to VND13.38 billion while revenues edged up 4.79% to VND75.39bn. The cement firm targets a net profit of VND45bn and revenu... |
Samruddhi June quarter results, India28 July 2010, Published under Cement NewsAditya Birla Group’s Samruddhi Cement today recorded a net profit for the June quarter of the current fiscal of INR 315 crore . The results of the company could not be compared, as it was demerged from the holding firm, Grasim Industries, with effect from October 1, 2009, Samruddhi said in a statement. Net sales of Samruddhi Cement during the April-June period of the current fiscal stood at INR2,199.96 crore. Samruddhi Cement will be merged with Ultratech with effect from Augu... |
Govt OKs Lafarge India mining in Meghalaya, Bangladesh27 July 2010, Published under Cement NewsThe ministry of forest and environment (MoEF) on Monday told the Supreme Court that Lafarge Umiam could resume limestone mining in Meghalaya under the revised Conservation Plan and it had to pay up to Rs 130 crores towards afforestation and development of tribal area around the mines. Asked by the SC on April 26 to conduct fresh environmental impact studies given the strong reservation towards mining by the Shella Village Committee, the MoEF filed an affidavit in the SC through counsel Hari... |
Ultratech Cement gets nod for Samruddhi merger, India27 July 2010, Published under Cement NewsIndia’s Ultratech Cement on Monday it has received the nod of the Bombay High Court and Gujarat High Court for a merger of Samruddhi Cement with itself. Last year, the boards of Ultratech Cement Limited and Samruddhi Cement Ltd, a wholly owned subsidiary of Grasim Industries Limited, unanimously approved Samruddhi’s merger with UltraTech. Under the scheme of amalgamation, Samruddhi Cement shareholders will get four Ultratech shares of Rs 10 face value for every seven equities of Rs 5 face v... |
Cementos Lima 2Q net profit falls27 July 2010, Published under Cement NewsPeru’s biggest cement producer, Cementos Lima SA, said its second-quarter net income totalled PEN52.9m (US$18.6m), down from PEN55.3m in the same quarter last year, due to higher costs. Second-quarter gross revenue rose to PEN268.5m, compared to PEN223.5m in the second quarter of 2009. YoY cement sales rose 15% to 804,000t thanks to greater local demand, while production YoY rose 15% to 817,000t in the second quarter. Cementos Lima also said its market share in the second quarter fell to ... |
Birla Corp BoD clears expansion, India27 July 2010, Published under Cement NewsThe Board of Directors (BoD) of Birla Corporation has cleared the proposal to increase clinker production capacity from 3600tpd to 6000tpd at its facility in Chanderia. It will also increase cement capacity from 1.2Mta to 2.7Mta. Further, the company will expand power generation capacity from 35MW to 50MW. |
GICA to imports 2.5Mt of cement, Algeria27 July 2010, Published under Cement NewsAlgerian Industrial Cement Group (GICA) announced it will import 2.5Mt of cement to meet local demands. GICA’s executives also said they intend to invest some DZD146m to improve the group’s performance. The first import operation was made last November. It comprised the purchase of 1Mt of cement. The second operation is set to start next October to acquire 1.5Mt. This new import programme aims at meeting the growing local demand, due to the kick-off of important public construction projec... |
Semen Padang seeks loan to build new plant, Indonesia27 July 2010, Published under Cement NewsIndonesian state cement maker PT Semen Padang in West Sumatra is seeking US$174m in loans to build a new plant with an annual production capacity of 3.5Mt. "We will seek loans among others from Bank Mandiri and Bank BRI Semen Padang president director Widodo Santoso said at the State Enterprises Ministry on Wednesday. He said the company would also set aside its internal funds to finance the expansion project which would cost an estimated US$350m. "The internal and external funds will amo... |