Cement News tagged under: India
India Cements post fourth-quarter loss28 May 2014, Published under Cement NewsIndia Cements has swung to a loss in the final quarter of the current fiscal compared to a profit last year on weak demand and overcapacity in southern markets. The Chennai-based company reported a net loss for the January-March 2014 period of about INR31 crore, compared with a profit of INR27 crore in the comparative period of the previous year. "The southern market suffers from the capacity overhung. This is not the case with north and east. This has hurt realisations," said N Srini... |
India Cements to merge with subsidiary27 May 2014, Published under Cement NewsIndia Cements is planning to merge with its subsidiary Trinetra Cement to consolidate its operations. N Srinivasan, vice chairman and managing director of India Cements, said the merger will bring the operations under one company. "We will get the benefit of profitability of Trinetra and improve the performance of India Cements," he said. Post-merger the total capacity of India Cements would go up to 15.8Mt. India Cement currently has a capacity of 15.5Mta from seven integrated plants i... |
Orient inks project finance for greenfield plant21 May 2014, Published under Cement NewsKhaitan & Co has advised Orient Cement on loan facilities worth US$200m from a syndicate of lenders led by State Bank of India. The loan is to finance the development of a 3Mta greenfield integrated cement plant along with a 45MW captive power plant at Gulbarga, Karnataka. Partner Shishir Mehta and associate partner Kumar Saurabh Singh acted as legal advisers to Orient Cement. |
Chettinad purchases shares in Anjani Portland21 May 2014, Published under Cement NewsChettinad Cement Corporation Ltd has purchased approximately 20.58% of shares of Anjani Portland Cement Ltd from shareholders. Chettinad Cement has reportedly acquired 3784.014 shares through off market purchase for a price of INR61.75/share (US$1.05). Chettinad Cement, based in Chennai, India, announced its plans to acquire Anjani Portland Cement, based in Andhra Pradesh (AP), in March 2014. The purchase forms part of the company’s strategy to increase its presence in the AP market, situ... |
Change in the senior management of Holcim14 May 2014, Published under Cement NewsOnne van der Weijde, area manager for India until April 25, 2014, and member of Holcim senior management, leaves Holcim effective 1 June 2014, the company said in a statement. Member of the Holcim Executive Committee Bernard Terver, responsible for the Indian Subcontinent, takes over direct responsibility for the country. "Holcim thanks Onne van der Weijde for his contributions to the success of the group, especially in India, and wishes him all the best for his future endeavors," the st... |
India: cement firms need solutions to gypsum shortage09 May 2014, Published under Cement NewsAccording to a research report jointly published on 30 April by lobby group Confederation of Indian Industry and consulting firm AT Kerney, India has a scarcity of gypsum resources, which does not bode well for the cement industry. Indian cement companies are on the lookout for overseas mines to secure supplies of gypsum. Domestic gypsum supplies are now limited, say industry executives, which is forcing Indian cement makers to look for overseas mine acquisitions or alternatively consider ... |
Indian expansion for FLSmidth MAAG Gear09 May 2014, Published under Cement NewsThe first assemble and service unit of FLSmidth MAAG Gear in India was inaugurated on 28 April at the Bawal Growth Centre manufacturing unit, Rewari district, Haryana at the Delhi – Jaipur national highway. With its state-of-the-art facilities the new gearbox assembling unit follows the business and market requirements in India and neighbouring countries. “This state-of-art assembly shop confirms our highest standards in terms of equipment, operation, process and safety. A perfect base for ... |
UltraTech Cement could buy Holcim-Lafarge assets06 May 2014, Published under Cement NewsUltraTech Cement Ltd, India’s biggest cement maker, is considering buying the local assets of Holcim Ltd and Lafarge SA, according to a person with direct knowledge of the matter. “The ready availability of assets may help the Indian firm gain market share without having to build greenfield factories,” said Rashesh Shah, an analyst at ICICI Securities Ltd in Mumbai. Birla’s plan also underscores optimism among investors that a stable government following this month's elections will spur a ... |
Pakistan export volumes and revenues fall01 May 2014, Published under Cement NewsPakistan export volumes have seen a decline in the first nine months of the current fiscal both in terms of volumes and dollar value. However, latest monthly figures show a significant increase in exports to India. For the July 2013 – March 2014 period, Pakistan exported 6.123Mt of cement on revenues of US$374.78m compared to 6.522Mt at US$421.12m in the comparative period of the previous year. This translates to YoY declines of 6.11 and 11.11 per cent in terms of quantity and value, respe... |
JK Lakshmi explores further avenues of growth01 May 2014, Published under Cement NewsJK Lakshmi Cement, part of the HS Singhania Group, is looking to lift capacity to around 20Mta over the next five years after its latest round of expansion is complete. By end-March 2016, the company will have a total cement manufacturing capacity of 11Mta with units across Durg in Chhattisgarh, Sirohi in Rajasthan and grinding facilities in Kalol (Gujarat) and in Jharli (Haryana). Speaking to the Economic Times, JK Lakshmi Cement wholetime director Shailendra Chouksey said: "We plan to l... |