Cement News tagged under: Construction

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Fitch affirms Pacasmayo's ratings; outlook stable

19 January 2015, Published under Cement News

Fitch Ratings has affirmed the following ratings for Cementos Pacasmayo SAA): • Foreign currency Issuer Default Rating (IDR) at 'BBB-'; • Local currency IDR at 'BBB-'; • Senior unsecured US$300m notes due 2023 at 'BBB-'. The Rating Outlook is Stable. Key rating's drivers Solid business position Fitch said the ratings reflects Pacasmayo's solid business position, as the only cement producer in Peru's northern region which has resulted in high margins, low leverage and solid liquidi...

PCA: construction recovery continues to expand

13 January 2015, Published under Cement News

Construction recovery in the US continues to expand and all regions are expected to participate in 2015, according to the PCA State Construction and Cement Forecast report, 2014-15. Favourable demographics, pent-up demand, and improved confidence will help fuel the stronger relative growth, the association notes. The recently-released state forecast expects the strongest rates of cement growth to occur in the West and South with increases of 7.6 and 7.4 per cent, respectively. The Midwest ...

US residential market expected to accelerate in 2015

06 January 2015, Published under Cement News

The US housing market is expected to accelerate during this year, according to the latest commentary from Ed Sullivan, chief economist and group vice president of the PCA. Presenting the industry body’s 2015 residential forecast at International Builders Show, Mr Sullivan highlighted that recent growth in the economy, as well as continued added jobs to the United States workforce have 'fortified both economic and residential construction growth across the country.' On the back of these enc...

East Africa rises

05 November 2014, Published under Cement News

East Africa’s cement demand continues to rise as infrastructure and housing needs provide the basis for future consumption. While cement capacity investments continue, a shift in the make-up of ownership is being seen as local companies take up a more prominent position. By Francis Mwangi, Standard Investment Bank Ltd, Kenya. The emerging East African market is characterised by new capacities, growing exports and growing consumption trends Over the past decade, the east African ...

MPA: sales volumes indicate further growth

04 November 2014, Published under Cement News

An acceleration in third-quarter sales compared to the previous quarter indicated continuing growth in construction activity, according to latest figures from the Mineral Productions Association (MPA). Statistics published yesterday by the MPA show sales volumes for asphalt, ready-mixed concrete and crushed rock in 3Q rose by 2.5-3.5 per cent compared to the previous quarter, and 8.5 per cent for sand and gravel. Crushed rock sales, it noted, have been particularly strong, up 13 per cent ...

Cemex supplying Braskem Idesa-Etileno plant, Mexico

25 August 2014, Published under Cement News

Cemex is supplying 250,000m3 of a variety of specialised, ready-mix concretes for the construction of the new Braskem Idesa-Etileno XXI Plant in Veracruz, Mexico. The plant, which will produce ethylene and polyethylene, is the largest petrochemical investment in Mexico in the past 20 years. Cemex began as a supplier for this project in 2012 with the construction of the foundation. As of today, the company has delivered 80 per cent of the 250,000m3 of concrete required for the project. Eti...

MPA: positive 2Q14 sales point to second-half construction improvement

04 August 2014, Published under Cement News

Following the significant improvement in UK sales volumes of mineral products from mid-2013, the latest Mineral Products Association (MPA) data indicate further improvement in the first half of 2014. Compared to 2Q last year, crushed rock was the fastest growing market (up by nine per cent), whilst both asphalt and sand and gravel were four per cent higher. Ready mixed concrete sales fell 3.2 per cent over the period, but the decline should be viewed in the context of the very high volumes ...

Philippine cement sales growth continues

24 July 2014, Published under Cement News

Cement sales in the Philippines rose 3.2 per cent in the second quarter of this year, underpinned by public works projects and private sector construction activity. Latest figures from the Cement Manufacturers Association of the Philippines (CeMAP) show that member-companies sold 5.52Mt in the three months to the end of June 2013 compared to 5.349Mt in the same period of last year. First half sales rose six per cent to 10.718Mt versus 10.136Mt in 1H13. CemMAP president Ernesto Ordo...

Housebuilding boosts UK construction growth

04 July 2014, Published under Cement News

UK construction has grown at its fastest annual pace in four months during June 2014 led by an increase in housebuilding, a survey has suggested. The Markit/CIPS purchasing managers' index (PMI) for the sector rose to 62.6 in June from 60.0 in May, its highest level since February and well above the forecast for a fall to 59.5. The reading beat analysts' forecasts for a fall to 59.5. A measure above 50 indicates growth in the sector. "(This) represents a remarkable yardstick of prog...

Pakistan FY14-15 Budget set to positively impact on the cement sector

04 June 2014, Published under Cement News

Pakistan’s FY14-15 Budget, announced yesterday by Finance Minister Ishaq Dar, is being regarded as largely positive for the country’s cement industry as it includes a number of infrastructures and energy-related projects which look set to spur demand. It is hoped that a 24 per cent increase in higher Public Sector Development Programme spending (PSDP), investments in irrigations, improving the road network and housing projects will accelerate cement demand from the current growth rate of t...