International

23 November 2005

CAF approves US$400mn loan to Votorantim

The Andean Development Corporation (CAF) has approved a long-term corporate loan of US$400mn to Brazilian industrial group Votorantim, the multilateral financing organization said in a press release.

23 November 2005

Russian court upholds antitrust body’s ruling to fine Eurocement

Moscow Arbitration Court has upheld the ruling of Russia’s Federal Antimonopoly Service, or FAS, to fine Russian cement producer Eurocement Group 50,000 rubles, FAS said in a statement Tuesday.

23 November 2005

Wage bills, power costs, shake up cement manufacturers

Operating profit margins (OPM) of cement units in India have taken a hit with rising energy costs and wage bills. Increase in the sales volumes and realisations during the July-September quarter of fi

22 November 2005

Brazil’s mixed signals

According to the data released by the National Cement Industry Union (SNIC), the production of cement was of 3.18Mt in September, a decline of 5.3 per cent in relation to August. The accumulated total

22 November 2005

Algerian domestic cement capacity

President of the Board of Directors of the Participations Management Company (SGP) Abdelhamid Thamri has assured that the domestic cement capacity is sufficient to meet demand. Thamri, while speaking

22 November 2005

Kyrgyz plans new plant

President of the Kyrgyz Republic, Kurmanbek Bakiev, has made the first quarter of 2006 as the date to begin construction work on the building the cement factory in Kysylkia district. The country’s pre

22 November 2005

Apave Vietnam to construct cement plant

An industry ministry-owned company has retained Apave Vietnam to manage construction of a cement plant in the country’s northern mountainous region. Following a contract signed between Apave an

22 November 2005

Cement prices may rise Rs 10

India’s top cement makers are likely to raise prices in the west, north and south, mainly on strong demand. Mumbai-based ACC has already increased prices between Rs 2 and Rs 5 per bag to cash in on st

21 November 2005

Greece’s Titan Cement nine-months net seen rising 12% on strong US ops

A continuing strong performance in the US market and improving sales in Greece will be the main drivers behind growth, they added.

21 November 2005

Egyptian Misr Beni Suef net profit soars 290% YoY

The net profit of Egyptian cement producer Misr Beni Suef Cement (MBSC) jumped 290 per cent YoY to E£101m (US$17.5m) in the first nine months of 2005.

21 November 2005

Exchange rate loss of Indocement to decrease

PT Indocement Tunggal Prakarsa Tbk predicted that the exchange rate loss of the company will decrease this year as the company has hedge some US$150m of its debt, while the exchange rate of Japanese Y

21 November 2005

US Lehman Brothers Cuts Italy Italcementi Stake

US investment bank Lehman Brothers has cut its stake in Italian cement group Italcementi to under the threshold of two per cent, Italian stock market regulator Consob reported on November 18, 2005.

21 November 2005

Semen Baturaja reports surge in profits

State-owned cement maker PT Semen Baturaja in South Sumatra reported a gross profit of Rp20bn (US$2 million) in the first 10 months of this year, up from only Rp4.14 billion in the whole of last year.

21 November 2005

Carib Cement’s earning up, but profit down

A 17.5 per cent increase in revenue for quarter to September 30 was not enough to offset the negative impact of Hurricanes Dennis and Emily and higher energy costs at Caribbean Cement Company, which r

21 November 2005

Cemco seeks reversal of CA decision

Cemco Holdings Inc. has asked the Court of Appeals to reconsider its decision requiring the cement firm to tender an offer to buy the stakes of minority shareholders of Holcim Philippines Inc.

18 November 2005

Grasim, Lafarge in race for UP cement unit

Grasim and Lafarge are apparently set to compete for the assets of the UP State Cement Corporation (UPSCCL). They have competed earlier also, the only difference being that this time they are not alon