Cement News tagged under: Sri Lanka
Sri Lankan cement imports up in 201622 August 2016, Published under Cement NewsSri Lanka’s cement production edged up by 19.7t to 1.04Mt in January-May 2016 and imports were up 18.4 per cent to 1.88Mt. Collectively, production and imports rose by 450,000t to 2.93Mt for the first five months of 2016, an 18.9 per cent increase compared to a year earlier. In the same period in 2015, production and imports rose by 103,000t to 2.46Mt, a 4.4 per cent advance when compared with a year earlier. The country has recently witnessed a recovery in demand in the housing sector... |
India Cements: 1Q16 EBITDA edges up to INR2.05bn19 August 2016, Published under Cement NewsIndia Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing has picked up in June and July, according N Srinivasan, India Cements' vice-chairman and MD. Durin... |
Tokyo Cement Ube Industries deal10 August 2016, Published under Cement NewsTokyo Cement Group (Lanka) Plc has signed a deal on 1 August with Japanese company Ube Industries Ltd, for the import of raw materials and technical support to produce cement. In a statement Tokyo Cement said: “Tokyo Cement Group has entered into a collaborative agreement with Ube Industries Ltd of Japan for technical support services and import part of their raw materials requirement from Japan to manufacture high-quality cement.” Ube Industries operates in five business segments - ce... |
Siam City Cement to acquire Holcim Lanka25 July 2016, Published under Cement NewsSiam City Cement (SCC) has signed a deal to buy Sri Lankan cement company Holcim Lanka Ltd for US$400m. The acquisition will turn SCC into the market leader in Sri Lanka. SCC is anticipating that the acquisition of the 98.95 per cent stake in Holcim Lanka will be completed within two weeks of the date of agreement, while LafargeHolcim have said the transaction will be completed in 3Q16. SCC will use credit facilities from Bank of Tokyo-Mitsubishi UFJ to fund the purchase. This latest ... |
Sri Lanka: Tokyo Cement looks to US for investment backing20 July 2016, Published under Cement NewsThe chief financial officer and other members of the Tokyo Cement management team are in the US this week for an investor roadshow, Lanka Business Online reports. Mark Decker, whose brokerage firm is promoting the roadshow, said: “Tokyo Cement is an under-researched company with a dominant market position, brand equity built over three decades, and clear growth prospects in light of Sri Lankan infrastructure and building construction projects. “We’re honoured to introduce the firm’s m... |
Sri Lanka: Tokyo Cement Company calls for end to price controls15 July 2016, Published under Cement NewsTokyo Cement, the largest cement producer in Sri Lanka, has called on the government to end controls and allow the market to set prices, Colombo’s Daily Mirror reports. In 2015 the government introduced a price ceiling of LKR870 (US$6.00) for a 50kg bag of cement, at a time when local prices were LKR930-940. Since last year the Sri Lankan rupee has depreciated in value, raising the cost of clinker imports and raising costs further down the supply chain. Managing director of Tokyo Ce... |
UAE firm bids for Holcim Lanka Ltd12 July 2016, Published under Cement NewsDubai-based Onyx Group owned by Sri Lankan businessman, Nandana Lokuwithana, is said to have joined bidders in the process to buy Holcim Lanka Ltd, according to Business Standard. There are six leading bidders for the Sri Lankan cement producer from China, the UAE, Indonesia, Thailand and Sri Lanka. Binding bids have been received from several companies with final negotiations to be concluded shortly. Business Standard cites that Lokuwithana, who is also the owner of Ceylon Heavy Indus... |
Sri Lanka: Holcim exit causes tension with China and India08 July 2016, Published under Cement NewsThe possible takeover of Holcim Lanka Ltd by China Resources Cement Holdings Ltd, a subsidiary of the state-owned China Resources Group, is expected to cause tension with India as the world's largest cement-producing country extends its influence on the island. With strong current positions in the Colombo and Hambantota harbours, this deal would also give China a presence in Galle and Trincomalee in addition to consolidating its presence in Colombo. Holcim presently owns the Ceylon Ambuja... |
LafargeHolcim04 July 2016, Published under Cement NewsLafargeHolcim aims to sell its operations in Sri Lanka, which consists of one integrated works, a grinding centre and a bagging plant. Its cement production in 2015 amounted to 1.7Mt, generating a turnover of US$158m. Three local companies are thought to be potentially interested along with some foreign companies, notably Chinese. Ambuja Cement is to increase the capacity of its grinding centre at Rupnagar, Punjab by 0.9Mta to 3.4Mta. |
Indonesia: Semen Indonesia looks to international markets21 June 2016, Published under Cement NewsAmid prospects of disappointing revenue growth in the domestic market, Semen Indonesia is looking offshore to expand its sales figures. Newly appointed head of PT Semen Indonesia, Rizkan Chandra has said that he wants to raise the company’s sales outside of Indonesia from 5.2 per cent of revenue in 2015 to 10-15 per cent over the next three years. In an interview Mr Chandra said operations may expand into Bangladesh, Sri Lanka and the Maldives, with operations already present in Vietnam. ... |