Cement News tagged under: international
Oman Cement to receive reimbursement to cover losses16 June 2010, Published under Cement NewsOman Cement Company (OCC) raised its profit outlook on Tuesday after receiving US$19m in government compensation. OCC was paid by the government OMR7.34m (US$19.06m) on June 14 as a compensation for keeping cement prices low on the directive of the ministry of finance, the company said in a statement on the bourse website. "This will have the effect of improving the profitability of the company by this amount during the current quarter and the year ending 31st December 2010," an Oman Cem... |
US price increase holding in aggregates but falling in cement16 June 2010, Published under Cement NewsA 3-5 per cent mid-year price increase currently looks achievable in US aggregates but the mid-year price increase in cement appears to failing, writes Mike Betts, analyst at Jefferies International in a recent industry note. Last week the author visited and spoke with several building materials companies in the US, both those headquartered there and the US subsidiaries of European-based companies. The magnitude of the mid-year price increase in US aggregates varies significantly between d... |
India May production rises16 June 2010, Published under Cement NewsCement production in India increased 9.18% in May to touch 14.5Mt against 13.28Mt in May 2009, reflecting the strong momentum in the construction and infrastructure works in the country. According to data compiled by the Cement Manufacturers’ Association (CMA), total dispatches grew at a slightly slower pace of 8.8% to 14.21 MT in the month under review compared with 13.06Mt of sales recorded in the same month a year ago. However, on a month-on-month basis, both production and sales were do... |
Hercules Cement workers strike, USA15 June 2010, Published under Cement NewsMore than 80 workers at an eastern Pennsylvania cement plant have gone on strike to protest what they call the company’s move to transfer them to different job functions for indefinite periods. The Teamsters members began picketing the Hercules Cement plant in Stockerton Monday after voting 47-31 to approve a walkout. A union official says the strike is not about wages or benefits, but the company’s work rules plan is a significant change from the contract that expired last month. The unio... |
US cement shipments in April increase15 June 2010, Published under Cement NewsPreliminary data from the US Geological Survey (USGS) show that total shipments of Portland and blended cement in the USA and Puerto Rico for April 2010 were approximately 6.5Mt. This translates to an 8.7 per cent increase in US shipments for April 2010 compared to April 2009. In a recent industry note, analysts at Jefferies International state that this growth figure is slightly higher than the eight per cent increase it had expected. April was the second successive month in which consum... |
Loma Negra takes 100 per cent control of Recycomb15 June 2010, Published under Cement NewsArgentine cement company Loma Negra, controlled by the Brazilian Camargo Correa, announced today the acquisition of a 24.5% stake in industrial waste processing firm Recycomb. The shares were previously held by US-based Philips Services Corporation. Loma Negra now holds 100% shareholding in company, according to a company statement. CEO of Loma Negra, Ricardo Lima, commented: "The investment we make to control 100% of shareholder capital Recycomb is further evidence of our desire to grow in... |
Carib Cement price increase15 June 2010, Published under Cement NewsCaribbean Cement Company, Jamaica, has made a slight adjustment to its prices effective today. Prices will increase by an average 3.2 per cent. The company said in a statement that despite the very recent signs of the strengthening of the Jamaican dollar against the US dollar, operational costs had increased over the past few months. The company also claimed that not even the gains made as a result of improved efficiencies were enough to cover these increased costs and the company was... |
Real estate projects boost May cement sales15 June 2010, Published under Cement NewsGrowing demand in India from infrastructure projects ahead of the monsoon, and a fall in prices have boosted cement sales in May. There has also been greater offtake from large real estate projects. However, cement companies with an all-India presence reported a marginal fall in despatches month-on-month due to a fall in demand in the southern region which saw maximum capacity addition to the tune of 25Mt. Cement prices, on an average, have fallen by INR3-5 a 50kg bag across regions in M... |
East Africa: cement industry left out in budget14 June 2010, Published under Cement NewsSpeaking during the East Africa Cement Producers Association (EACPA) annual meeting in Kampala last Friday, producers said the high production costs and inadequate protection from cheap imported cement has made it increasingly difficult for the industry to compete. Local press at the Daily Monitor reported that the cost of power in East Africa is more than four times that of Pakistan and China where the imported cheap cement is said to come from. EACPA had asked the EAC governments to rest... |
Mediobanca lowers Italcementi’s price target to EUR 9.4014 June 2010, Published under Cement NewsMediobanca reduced Friday its share price target on Italy’s cement maker Italcementi to EUR 9.40 from EUR 11.30. The broker confirmed its "outperform" recommendation on Italcementi but cut the profitability estimates for 2010 and 2011. Separately, ING slashed to EUR 6.50 from EUR 10.20 its price target on the Italian group, lowering the earnings-per-share (EPS) forecasts for 2011 by 54% and those for 2012 by 51%. |