Cement News tagged under: India
ACC targets ready-mix concrete sales14 June 2013, Published under Cement NewsACC has devised an action plan, including product innovation, to strengthen its ready-mix concrete business. The 77-year-old company has lined up a series of ready-mix concrete products to push sales. Holcim-owned ACC is betting on the affluent and demanding lifestyle of GenNext to push its environment-friendly products. If used in open spaces like car park or garden pathway, Permecrete can allow rainwater to seep through for recharging groundwater table. Notwithstanding the product innova... |
FLSmidth to supply greenfield plant for Orient Cement14 June 2013, Published under Cement NewsFLSmidth has received an order worth in excess of around US$35.7m from Orient Cement Ltd for the supply of main equipment for a greenfield cement plant to be located in the state of Karnataka, southern India. The plant will have a capacity of 6000tpd. The order covers engineering and supply of main equipment from limestone crusher to packing plant. Included in the scope of supply are key components for raw material crushing equipment, limestone, coal and additive stores, raw material grind... |
India: HeidelbergCement gets shareholders nod to raise up to INR20bn13 June 2013, Published under Cement NewsHeidelbergCement said its shareholders have accorded approval for raising funds up to INR20bn (US$340m) through borrowings. The shareholders had approved the proposal at its annual general meeting that took place on 16 May, HeidelbergCement said in a BSE filing. Shareholders have delegated to Board the authority "for borrowing from time to time, as it may think fit, any sum or sums of money not exceeding INR20,000m on such security and on such terms and conditions as the Board may deem f... |
SC refuses to interfere with COMPAT order against Indian cement firms13 June 2013, Published under Cement NewsThe Supreme Court declined to interfere with the order of the competition tribunal directing 10 cement firms to deposit 10 per cent of the penalty of INR63bn (US$1.08bn) imposed on them for allegedly indulging in cartelisation. However, the apex court slightly modified the order of the Competition Appellate Tribunal (COMPAT) by extending the deadline of 16 June to 24 June for depositing the amount with the tribunal. It also added that the 10 per cent amount deposited by each company sha... |
Squeeze tightens on Indian cement13 June 2013, Published under Cement NewsMuted volume growth and continuing cost pressures have put a further squeeze on the earnings of Indian cement companies with a disappointing 15 per cent YoY fall in EBITDA/t in Q4FY13. Among the large companies, only HeidelbergCement managed to report an improvement while UltraTech Cement, Dalmia Cement and Prism Cement all reported flat EBITDA/t during the quarter. Volumes declined one per cent YoY over the same period, significantly below the government’s recently revised 7.3 per cent in... |
India Cements to restructure non-core assets07 June 2013, Published under Cement NewsIndia Cements has said it will restructure its non-core assets, enabling the company to focus on core areas of its business and increase profitability. The company is expected to announce businesses in which it wants to partially or fully exit when it announces its quarterly results later this year. “We are working on whether to merge, hive-off or to sell to make all these businesses profitable and if we can grow independently,” N Srinivasan, vice-chairman and managing director, said. ... |
UltraTech to take tribunal plea to Supreme Court on Monday07 June 2013, Published under Cement NewsIndia’s Supreme Court will hear UltraTech Cement's plea challenging an order issued by the Competition Appellate’s Tribunal (COMPACT) on 17 May 2013 instructing the cement companies charged with cartel practices to pay 10 per cent of the penalty imposed by the Competition Commission of India (CCI) last year. Following an appeal from several cement companies against the CCI’s record fine of INR6.3bn issued in June 2012, the tribunal ordered the cement producers to pay the 10 per cent withi... |
HeidelbergCement India increases prices07 June 2013, Published under Cement NewsHeidelbergCement India Ltd (HCL) has increased cement prices by INR2-3 per 50kg bag, its chief executive officer and managing director, Ashish Guha told local media. Mr Guha said during an interview with CNBC-TV18 that prices have been hiked despite subdued demand over the past two months and margins have suffered. During the April-May period consumption only rose by 4-5 per cent instead of the 10 per cent growth expected ahead of the monsoon season. However, consequently Mr Guha does not... |
FLSmidth wins new order from Orient Cement, India06 June 2013, Published under Cement NewsFLSmidth has received an order from Indian cement manufacturer Orient Cement Ltd to supply the main equipment for a 6000tpd greenfield cement plant to be located in the state of Karnataka, southern India. The order covers engineering and supply of main equipment from limestone crusher to packing plant. Included in the scope of supply are key components for raw material crushing equipment, limestone, coal and additive stores, raw material grinding system using roller press technology, verti... |
Indian producers eye price increase06 June 2013, Published under Cement NewsWith Indian consumption showing some signs of improvement local producers are looking to raise prices ahead of the impending monsoon season. According to sources cited by DNA India, prices are expected to rise by at least INR10/bag to possibly INR15/bag. Monsoon rains are due in June and traditionally supress construction activity until September/October and therefore cement companies generally increase prices before monsoon sets in. At the start of 2013, the average price of a 50kg ce... |