Cement News tagged under: Weekly Newsletter
Moroccan sales slide 12.6% in first six months29 August 2013, Published under Cement NewsIn the first half of 2013 Moroccan cement sales fell 12.6 per cent YoY to 7.8Mt, although the pace of decline significantly eased in the second quarter, latest statistics from the Directorate of Studies and Planning of the country’s Ministry of Economy and Finance show. While the market continues to contract, second-quarter sales fell by four per cent, far less than the 21 per cent drop recorded in the first three months of the year. The downward trend, attributed to heavy rainfall which l... |
Cimpor boosted by South American operations28 August 2013, Published under Cement NewsCimpor's underlying first half turnover improved by 19.6 per cent to EUR1299.8m as the company is boosted by its new South America operations but Portuguese losses more than double. EBITDA for the six month period advanced by a more modest 6.3 per cent to EUR284.2m. Ignoring non-recurring charges, the EBITDA would have been some 19 per cent ahead a EUR331m, while the improvement on the re-stated last year numbers was 28.1 per cent. On this basis, the trading profit increased by 34.6 per c... |
UltraTech poised for Jaiprakash's Gujarat units27 August 2013, Published under Cement NewsUltraTech Cement is said to be in advanced stages of discussions to acquire the Gujarat-based cement units of Jaiprakash Associates, local media have reported. Sources familiar with the deal told Business Standard of India that the cement units are to be sold at a valuation of US$130/t, lower than the US$160/t Jaiprakash had earlier been seeking. Jaiprakash's cement facilities in the state of Gujarat have a combined cement capacity of 4.8Mta and will help UltraTech Cement, India’s larges... |
China's Sinoma profit falls as turnover climbs26 August 2013, Published under Cement NewsChina National Materials Co Ltd, Sinoma Group (China), has reported mixed results for the first six months of 2013. While turnover over the period moved ahead 6.9 per cent to CNY21.8bn (US$3.6bn), net profit for the period fell 38.8 per cent to CNY101.2m (US$93.9m) from CNY165.3mn a year earlier. The company's cement production division recorded revenues of CNY10.322bn (US$1.686bn), up 15.2 per cent YoY, which was mainly due to the increase in sales volume resulting from the commissioning o... |
Siam Cement plans 1.8Mta plant in Myanmar26 August 2013, Published under Cement NewsSiam Cement Pcl, Thailand, plans to build a 1.8Mta integrated cement plant in Myanmar, ready to start production in mid-2016. The THB12.4bn (US$388m) investment will position Siam Cement as one of the foremost producers in the country, where cement demand is forecast to increase by 10 per cent over the next five years, according to a Reuters report. Last year, Siam Cement accounted for more than 40 per cent of the 4Mt of cement consumed in Myanmar. Siam Cement is 30 per cent owned by the ... |
Colombia's regulator investigates price fixing22 August 2013, Published under Cement NewsColombia's Superintendency of Industry and Commerce will be opening an investigation into the alleged price-fixing by five local cement companies. The regulator will examine whether Holcim (Colombia), Cementos Argos, Cementos Tequendama, Cemex Colombia and Cementos Marcos have been colluding in the setting of cement prices over the past three years. The regulator has said it will look into "an alleged agreement to fix prices and divide up the market”. The superintendency has claimed that... |
Dangote cement defers LSE listing22 August 2013, Published under Cement NewsDangote Cement has delayed plans for its listing on the London Stock Exchange (LSE) to 2014. Alhaji Aliko Dangote, chairman of Dangote Group, had announced the company intended to float a 20 per cent stake in Dangote Cement to finance its rapid expansion. Dangote's Vice Chairman, Alhaji Tajudeen A Sijuade, told Citi Business News, the company is on track to meet the stringent corporate governance requirements for a premium listing and is likely to list next year. “Maybe next year we have g... |
Lafarge Philippines benefits from strong cement demand22 August 2013, Published under Cement NewsDomestic cement demand in the 1H13 has seen a sharp rise in the Philippines as sales have jumped by 6.2 per cent compared to the same period in 2012. “The continued increased in infrastructure and other construction projects launched by the government such as farm-to-market, roads coupled with sustained demand from the private and commercial sector, contributed to the growth,” said Lafarge Republic. The budget department reports that state spending on public works and infrastructure ha... |
Carthage Cement to start production September 201322 August 2013, Published under Cement NewsTunisia's Carthage Cement is expected to produce its first bag of cement on 2 September, according to Riadh Ben Khelifa, managing director of Carthage Cement. The cement plant represents an investment of TND836m (US$510m), of which TND500 as loans by 14 banks. Carthage’s MD added that the company is currently awaiting permission to establish a bag manufacturing plant as well permits to use alternative fuels (RDF) and derive part of its electricity from wind sources. |
CRH hit by hard winter21 August 2013, Published under Cement NewsCRH's first-half turnover declined by 3.2 per cent to €8007m and the EBITDA fell by 24 per cent to €397m. The trading profit dropped by 74.7 per cent to €41m and the pre-tax result fell from a €102m profit to a loss of €71m in spite of a 3.3 per cent reduction in the net interest charge to €146m. A restatement to reflect accounting changes reduced last year's pre-tax profit from €117m to €102m. The net attributable result went from a €98m profit to a €57m loss. Net debt at the end of Jun... |