Cement News tagged under: international
Kuwait Cement Co posts US$30.6m net profit27 July 2010, Published under Cement NewsKuwait Cement Company said in a bourse filing yesterday it booked a net profit of KWD 8.81m (US$30.6m) for the six months ended June 30, 2010, down from KWD12.31m a year earlier. The cement producer reported earnings per share (EPS) of 14.96 fils for the first half of 2010, compared to 20.9 fils a year ago. For the second quarter of 2010, the company’s net profit plummeted to KWD 3.82m, from KWD21.25m in the same period last year. The total assets rose to KWD 239.5m at end-June 2010 from ... |
West China Cement plans Hong Kong listing27 July 2010, Published under Cement NewsWest China Cement Ltd, a London-listed cement producer based in China’s Shaanxi province, said Monday it plans to list on the Hong Kong stock exchange, in a deal media reports said could raise between US$200m and US$300m. The company said it is looking to list between Aug. 6 and Oct. 20, but the deal depends on its "assessment of market conditions." It didn’t disclose the amount it aims to raise from its planned initial public offering in the territory. West China said in a statement to th... |
Cementos La Union plans Brazilian plant27 July 2010, Published under Cement NewsSpanish-based cement producer Cementos La Union plans to build its first cement works in Brazil. The plant is slated to have a capacity of 500,000tpa and will be located in the industrial area of Suape in the municipality of Ipojuca. According to the company, its annual capacity of half a million tonnes "represents almost 25% of annual consumption by state." |
Three groups ink agreement for new Angola plant27 July 2010, Published under Cement NewsThree business groups from Angola, Portugal and Brazil are to invest US$430m in building the Palanca Cimentos cement factory in the municipality of Lobito, in Angola’s Benguela province, under the terms of a contract signed Monday in Luanda with the National Private Investment Agency (ANIP). The investment, by Angolan group Gema, with 40 per cent, Portugal’s Escom and Brazil’s Camargo Corrêa, both with 30 per cent, aims to build a factory with capacity to produce 1.8Mta of clinker and 1.6... |
BetonAta (Shymkent Cement): 365 days without accidents, Kazakhstan27 July 2010, Published under Cement NewsReady mixed concrete company BetonAta (Shymkent Cement) has reached its goal of one year without accidents. It celebrated with an event at the company plant attended by senior management, local authorities and key customers. All the participants applauded BetonAta on its important success. The chief executive officer of Shymkent Cement, Atilla Yildiz, welcomed the deputy mayor of the city of Almaty in the region of Zhetysu, the other guests and employees. Also on behalf of the Group Saf... |
St. Marys Cement union and management reach tentative deal27 July 2010, Published under Cement NewsAfter a long strike, St. Marys Cement workers could be back on the job soon. The Canadian Auto Workers has reached a tentative agreement with St. Marys Cement, a subsidiary of Brazilian company Votorantim Cimentos. Workers at the Bowmanville plant have been on strike for the past five months. The contract dispute was over pensions and a number of concessions, according to a union press release. The tentative agreement still has to be ratified by the 87 CAW Local 222 members. Voting take... |
Cementir sees slow, gradual recovery27 July 2010, Published under Cement NewsItalian cement producer Cementir Holding expects a slow and gradual recovery in its performance based on the second-quarter results, presented on Monday. In the second quarter of the year, revenues rose by 4.4% over the same period of 2009. This represents a significant reversal of the decline seen over seven straight quarters and marks an improvement in the conditions in all the Group’s major geographical markets, with the exception of Italy, where the problems faced by the construction in... |
Indian producers explore new fuels to replace coalIndian producers explore new fuels to replace coal26 July 2010, Published under Cement NewsAs the Indian cement industry feels the pressures of high raw material costs and reduced coal linkages, companies are exploring alternative options such as rubber tyres and rice husk as substitutes for fuel. Companies such as Grasim Industries, ACC, Shiva Cement have started using alternative fuels in their plants while other cement firms are exploring similar techniques to deal with the fuel shortage. “As coal prices are rising, there is no other option but to use alternative fuels like... |
ACC posts second quarter fall in net profit26 July 2010, Published under Cement NewsIndian cement maker ACC Ltd on Thursday reported more than a 25 per cent dip in consolidated net profit at Rs 349.47 crore (US$74.3m) in its second quarter ended June 30, 2010 as expenditure – mostly on raw materials – increased. The company, in which Holcim holds a majority stake, reported a net profit of INR470.96 crore in the year-ago period, ACC said in a statement. Though the net sales of the company during the reporting quarter remained almost stable compared to the corresponding qua... |
Raysut Cement cuts prices, Oman26 July 2010, Published under Cement NewsRaysut Cement Company (RCC), the Sultanate’s biggest cement producer, has reduced its cement selling prices, mainly due to severe competition from neighbouring UAE-based companies. The price reduction will vary according to the quantity of cement purchased by a customer. RCC’s announcement follows a similar move this month by its domestic competitor, Oman Cement, and in response to intensifying competition from UAE-based producers. “In the domestic market, the company lost some of its mark... |