Cement News tagged under: Ambuja Cements

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Holcim’s Indian interests report August declines

05 September 2012, Published under Cement News

Holcim’s Indian group companies, ACC and Ambuja Cements, have reported marginal declines in cement production and dispatches for August 2012. ACC, India’s second largest cement producer, posted a decline of 6.9 per cent in cement production as well as cement dispatches to 1.75Mt last month, compared to 1.88Mt in August 2011. Total cement production between January-August 2012 saw growth of 2.4 per cent to 16.47Mt, against 16.09Mt in the same period of last year. Dispatches for the eigh...

Cochin port attracts import investments, India

13 August 2012, Published under Cement News

Cochin port is emerging as a major cement import hub with Malabar Cements expressing interest in setting up a 1Mta facility and Zuari Cements finalising a 30-year deal with the Cochin Port Trust (CPT) this week. Cochin Port is a major port on the Arabian Sea – Indian Ocean sea-route and is one of the largest ports in India. The port lies on two islands in the Lake of Kochi: Willingdon Island and Vallarpadam, towards the Fort Kochi river mouth opening onto the Arabian Sea. The Hindu newsp...

Holcim: July '12

03 August 2012, Published under Cement News

The Holcim associate Huaxin Cement has announced that it expects profits to fall by at least 50 per cent in the year 2012, largely because of the reduction seen in cement prices. The Holcim associate Siam City Cement has increased its estimate for growth in its cement consumption this year to six per cent as a result of the new government flood protection measures on top of the already good economic growth. The company's 1H growth should be between 6-8 per cent. Holcim (Azerbaycan), t...

JP Morgan remains underweight on Ambuja Cements

30 July 2012, Published under Cement News

JP Morgan remain Underweight on India's Ambuja Cements.  Key risks to the price target as per JP Morgan is a sharp recovery in cement demand to help drive higher than expected volume growth (and therefore utilisation levels) and reduction in coal costs leading to decline in operating cost per tonne. "Demand has not been particularly strong in the last two months, but cement prices have moved up across most markets in June and July. Lack of rains in the monsoon is positive for cement dema...

India first quarter market expectations

20 July 2012, Published under Cement News

Indian 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 violation

20 July 2012, Published under Cement News

Four 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 gains

03 July 2012, Published under Cement News

Holcim’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 fine

22 June 2012, Published under Cement News

Holcim 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 fixing

21 June 2012, Published under Cement News

Eleven 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 April

04 May 2012, Published under Cement News

Leading 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...