Cement News tagged under: Ambuja Cements
India first quarter market expectations20 July 2012, Published under Cement NewsIndian cement companies are expected to post higher net profits and sales in the first quarter of the current fiscal (April-June FY13) thanks to improved prices and higher demand. However, gains in profits for most cement companies will be impacted by rising costs owing to higher railway-freight charges. Besides, rupee depreciation will increase the cost of imported coal, a key raw material and fuel for the industry, according to brokerage Kotak Securities. Market expectations for... |
Four Indian plants force to close on alleged environmental violation20 July 2012, Published under Cement NewsFour cement plants in the Indian state of Chhattisgarh have been ordered to shut down on alleged violation of air pollution controls norms. The Chhattisgarh Environment Conservation Board (CECB) told Business Line India that two UltraTech Cement plant, one Ambuja Cement and one Lafarge plant have all be closed for over a week now. The four units, all situated in Baloda Bazar district, have a total capacity of 10Mta. CECB member secretary, Mr Narsimha Rao, said there were charges of viola... |
Holcim Indian cement interests see modest YoY gains03 July 2012, Published under Cement NewsHolcim’s Indian cement companies, ACC and Ambuja Cements have reported modest rises in June shipments and production in June. ACC said shipments in June reached 1.96Mt, up 2.6 per cent from the 1.91Mt a year ago but lower than the 2.05Mt recorded in May. Cement production during June rose 4.23 per cent to 1.97Mt from 1.89Mt a year ago but fell from 2.02Mt in May. During Jan-June, ACC dispatched 12.79Mt of cement compared to 12.18Mt in the corresponding period a year ago. Production dur... |
Holcim to contest Indian price fixing fine22 June 2012, Published under Cement NewsHolcim has said will defend the position of its two Indian units on the penalties imposed by the Competition Commission of India (CCI) for price fixing. Yesterday, the CCI announced that it would fine 11 Indian producers a total of US$1.1bn, stating that they had created an artificial cement shortage “so as to reduce supplies and raise prices in times of higher demand," it said in its judgment. The ruling applies to Holcim group companies ACC and Ambuja Cements (ACL), which have been fi... |
Indian producers issued with record fine on price fixing21 June 2012, Published under Cement NewsEleven Indian cement producers have been issued a total fine of INR60bn (US$1.1bn) for price fixing, the highest ever fine issued by the country’s antitrust authority in its three-year existence. The Competition Commission of India (CCI) said in its ruling that the companies colluded to underuse their plants and create an artificial cement shortage. "The commission has found that the cement companies have not utilised the available capacity so as to reduce supplies and raise prices in tim... |
ACC, Ambuja see spurt in cement production in April04 May 2012, Published under Cement NewsLeading cement producers ACC and Ambuja Cement reported the growth in cement production for the month of April 2012. ACC and Ambuja Cements reported the production at 2.17Mt and 1.91Mt, respectively, in their separate filings to the Bombay Stock Exchange. During the year ago period, ACC and Ambuja had reported the production at 2.06Mt and 1.81Mt, respectively. Besides, the dispatches at the two companies also inched up during the quarter. ACC reported the dispatches at 2.0Mt during the mo... |
Ambuja Cements first quarter net profit declines, India20 April 2012, Published under Cement NewsAmbuja Cements posted a 23.4% drop in its first quarter net profit at INR312.2 crore against INR407.5 crore in the corresponding quarter last year. The company's 1Q net sales saw a rise of 19% to INR2633.3 crore against INR2212.5 crore in the corresponding quarter last year. Net profit declined due to an additional depreciation charge of INR289 crore. First quarter dispatches rose to 6.1Mt versus 5.5Mt last year. The company hiked cement prices in March on the back of a 20% railways frei... |
Holcim05 April 2012, Published under Cement NewsHolcim has strengthened its capital base by issuing 5m treasury shares at CHF59.25. The offer was over-subscribed and is raising CHF296m, or €2346m. This transaction has increased the issued share capital by approximately 1.5%. Holcim Philippines, which saw its 2011 net profit drop by 47.1% in response to weaker demand and higher costs, is expecting growth of 5-6% in 2012 and re-opened its Calaca works in January. Holcim's Indian volumes have continued to rise at both ACC and Ambuja Cemen... |
Indian majors report March gains04 April 2012, Published under Cement NewsThree of India's leading cement producers, UltraTech Cement as well as Holcim interests, ACC and Ambuja Cement, all reported healthy gains in their respective March 2012 figures. UltraTech despatched 4.01Mt cement in March, 6.28% higher from previous year, a company release today said. Cement production during the month rose 4.5% YoY to 3.92Mt. On a monthly basis, despatches and production rose 14% and 13%, respectively. Ambuja Cement sold 2.17Mt of cement in March this year, up 12.4... |
Ambuja Cements investment update, India16 March 2012, Published under Cement NewsAmbuja Cements, part of the Holcim Group, plans to invest INR18bn (US$358m) by December 2013 to increase capacity. The investment will be funded through internal accruals. As of the quarter ended December 31, the company had a cash surplus of INR77bn, India Investment News reports. The Indian cement major plans to establish a 2.2Mta clinker plant at Naguar in Rajasthan, for which a feasibility study has been completed and environmental clearance obtained. Ambuja Cement has also initiat... |