Cement News tagged under: international
Cemex seen posting weak net, US sales may pick up26 July 2010, Published under Cement NewsCemex is seen posting a 55 per cent fall in second-quarter profit to US$84m but results could show crucial signs of a pick-up in U.S. sales volumes, according to a Reuters poll. Cemex reported a profit of $187 million in the April-June period of last year. "While we expect Cemex to report another weak quarter ... for the first time in several quarters U.S. cement volumes should grow on a year-to-year basis by an estimated 8- 10 percent," said Bank of America Merrill Lynch in a report. A l... |
South Korea construction contracts26 July 2010, Published under Cement NewsSouth Korea’s construction industry had its biggest annual contraction since at least 2008 in the second quarter. Construction shrank 0.8 percent over the three months through June compared with the prior quarter, the third drop in four quarters, and 0.5 per cent from a year ago, according to gross domestic product data released today by the Bank of Korea. The decline contrasts with a quarterly growth rate for gross domestic product of 1.5 per cent, which bolstered the case for the central... |
Further downturns noted in most freight sectors in June26 July 2010, Published under Cement NewsA second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the start of the week. The Capes fell by the largest margin, losing 26% on the BCI, but there were losses in all sizes. Going forward, period rates in the Panamax market were holding up but there seemed less optimism in the Cape market where the few short period deals concluded were at much softer rates. In the coal market there was some concern Ch... |
EuroCement sales revenues slide25 July 2010, Published under Cement NewsSales revenues at CJSC EuroCement Group, Russia’s biggest cement-maker, continued to fall last year. The company’s best year was 2007, when it earned RUB37bn in net profits and made RUB76.6bn in sales revenues to Russian Accounting Standards (RAS). In 2008, notable for Russian construction market cave-in amid the economic crisis, Eurocement’s sales revenues fell to RUB62.4 bn, and instead of profits the company incurred RUB6bn in losses. According to the SPARK database, the group was back i... |
Cemex not to close Alicante and Bunol works, Spain25 July 2010, Published under Cement NewsThe Spanish government’s announcement to postpone or cancel 231 public works projects as part of an austerity drive aimed at slashing its budget deficit has triggered alarm within the Spanish cement sector. Oficemen president, Joaquin Estrada, last week warned that plant closures and job cuts may become a reality “if the situation does not improve.” But officials of Cemex Spain says its plants at Alicante and Bunol will not be affected at the moment "because we are weathering the storm as b... |
Demand rises in South Sumatra’s capital, Indonesia23 July 2010, Published under Cement NewsDemand for cement in South Sumatra’s provincial capital Palembang has been on the rise over past two days where many buyers come from outside the city, traders said. "Buyers from outside the city came here with trucks or private cars to purchase cement and other construction materials," a trader on Jalan A Yani said on Tuesday. He said that each of the buyers purchased an average of 24 sacks of cement. But price was still stable at Rp50,000 (US$5.5) per sack for cement produced by PT Semen... |
Lafarge honours 17 top distributors, Bangladesh23 July 2010, Published under Cement NewsLafarge Surma Cement (LSC) Limited has honored 17 of its best performing Distributors in an award giving ceremony at a city hotel recently, said a press release. During the last year, LSC has shown remarkable improvement in growing its sales volumes. While the cement industry has shown double-digit growth in Bangladesh, the Company has grown at double the cement market growth rate. The company’s brand SUPERCRETE is now a well-established brand in the market and is the most widely available ... |
Birla Corp approves clinker expansion, India23 July 2010, Published under Cement NewsThe board of Birla Corporation has approved expansion of the clinker production capacity at its Chanderia plant from 3600tpd to 6000tpd. According to a company press release, the corresponding cement capacity will go up from 1.2Mta to about 2.7Mta. The board also approved enhancement of capacity of its proposed power plant to 50MW from 35 MW, sanctioned earlier. |
Pakistan cement exports fall, local dispatches up FY09-1023 July 2010, Published under Cement NewsThe global financial crisis last year kept Pakistani cement industry under pressure as exports were down by minimal 0.89 per cent YoY to stand at 10.65Mt in the closing fiscal year, as compared to 10.75Mt in the last fiscal year (FY) 2008-09. The figures updated by All Pakistan Cement Manufacturers Association (APCMA) on its website showed the closing fiscal year could not meet the expectations of cement industry as financially- hit export markets coupled with government non-development pol... |
EAPC boss quits amid board row, Kenya23 July 2010, Published under Cement NewsEast African Portland Cement Company managing director John Nyambok resigned on Thursday amid claims of disagreements in the boardroom, Business Daily reports. Board chairman Mark ole Karbolo, wrote an email to employees about the departure following a board meeting held on Thursday afternoon, according to sources at the firm. The board appointed the firm’s finance chief, Kephar Tande, as the acting managing director. The changes come amid alleged procurement fraud at the firm that has s... |