Cement News tagged under: India
Binani Cement appoints new MD26 November 2013, Published under Cement NewsBinani Cement Ltd, part of the Braj Binani Group, has appointed Jotirmoy Ghose as its new managing director. “Jotirmoy’s vast expertise of global operations and new market developments fit perfectly with Binani Cement’s plans of deepening its roots into new global markets where it is currently expanding,” Braj Binani, Chairman — Braj Binani Group, said in a statement. Commenting upon his new role, Ghose said: “I am pleased to get associated with one of India’s oldest business groups a... |
Birla selects Gebr Pfeiffer mill for Satna cement works25 November 2013, Published under Cement NewsIndia-based Birla Corporation Ltd has placed another order with Gebr Pfeiffer for an MPS 2800 BK for its cement plant in Satna. Featuring an installed drive power of 800kW, the mill will be capable of grinding 28tph of petcoke to a product fineness of two per cent R90µm. The specific power consumption of this material, which is difficult to grind, will be about 21kWh/t. The fuel for two cement rotary kilns will be ground and dried in the mill while simultaneously being dried in an integrate... |
India: Ambuja wins approval for Holcim restructuring22 November 2013, Published under Cement NewsAmbuja Cements Ltd announced on Thursday that it had received shareholders' approval to buy a 24 per cent stake in Holcim (India) Pvt. Ltd from Holderind International for INR350,000m (US$556m) as well as the amalgamation of Holcim (India). The restructuring has been criticised by some investors and local shareholder-advisory firms for favouring the parent. Another round of voting will take place at Ambuja Cements' extraordinary general meeting (EGM) at Gir Somnath in Gujarat, as well as a... |
India: US$122m net profit for Udaipur Cement in September quarter22 November 2013, Published under Cement NewsNet profit of Udaipur Cement Works reported to INR77,000m (US$122m) in the quarter ended September 2013 as against net loss of INR21,300m (US$33.8m) during the previous quarter ended September 2012. Sales reported to INR32,700m in the quarter. For the full year, net profit swung to INR58,500m in the year ended September 2013 from a net loss of INR126,200m during the previous year ended September 2012. Sales reported to INR32,700m in the year ended September 2013. |
India: IRCA suggests challenging times for Indian producers21 November 2013, Published under Cement NewsIndia's cement producers profits are under pressure as raw material and fuel costs rise, and delays in construction projects tighten margins. Ratings Agency IRCA point out that cement prices are also subdued and that these are challenging times for the domestic industry as demand and rates remain under duress. "The outlook for cement industry continues to remain challenging with both demand and prices continuing to remain under pressure. Domestic production grew by a modest 3.9 per cent du... |
Holcim's India's rejig plan receives FII support20 November 2013, Published under Cement NewsHolcim may have won minority shareholder support for its restructuring plans in India on strong backing from foreign institutional investors (FII) who control just over 30 per cent of its subsidiary, Ambuja Cements. According to analysts, the FII includes some 359 foreign portfolio investors, which is expected to be sufficient to overcome opposition from domestic institutional investors including LIC, the largest institutional shareholder with a 6.1 per cent stake. But state-owned insure... |
India: The 13th NCB international seminar on Cement and Building Materials opens19 November 2013, Published under Cement NewsThe 13th NCB International Seminar on Cement and Building Materials opened it doors to over 800 delegates, including 125 overseas delegates at the Manekshaw Center in New Delhi, India, this morning. Torch lighting to start the 13th NCB International Seminar on Cement and Building Materials The conference celebrates 50 years of the National Council for Cement and Building Materials. During the opening ceremony, flowers where presented in memory of the birth of the late Indira Gh... |
Lower pricing hits July-September profits, India15 November 2013, Published under Cement NewsIndian cement companies saw their profits drop over the July-September period due to higher cement prices and freight expenses. Average dispatches across the country were estimated to have increased by 3.5 per cent, according to Business Line. Meanwhile, coal expenses were also lower as the international market price was down 11 per cent YoY to US$78/t. However, the average cement prices were at INR279/50kg bag during the quarter, down seven per cent from INR300/50kg bag. In South Ind... |
Holcim gets FIPB approval for India restructure14 November 2013, Published under Cement NewsHolcim has received approval from the Foreign Investment Promotion Board (FIPB) of India to merge Holcim India Private Ltd (HIPL) with Ambuja Cements as part of plans to streamline its operations there. Holcim, which holds majority stakes in ACC and Ambuja Cements, announced plans in July to consolidate operations. In a two stage deal, Ambuja will first acquire a 24 per cent stake in HIPL for a cash consideration of INR35,000m (US$~600m), followed by a stock merger between HIPL and Ambuja.... |
Holcim held back by weaker Indian and Mexican markets05 November 2013, Published under Cement NewsHolcim's turnover for the first nine months declined by 6.1 per cent to CHF14,941m, as weaker Indian and Mexican markets hold back the company's performance. In euro terms the reduction was 8.0 per cent to EUR12,136m and in US dollar terms the decline was 5.7 per cent. The Asia Pacific region generated 37.5 per cent of group turnover, down from 39.3 per cent a year earlier, while Europe represented 28.4 per cent, up from 26.5 per cent. Latin America contributed 17.1 per cent against 15.6 ... |