Cement News tagged under: India
Chettinad Cement seeks shareholders’ approval for delisting, India07 January 2013, Published under Cement NewsIndia-based cement producer Chettinad Cement Corporation has begun seeking shareholders approval to delist from the three Indian stock exchanges on which it trades. The company is listed on the National Stock Exchange (NSE), Madras Stock Exchange (MSE) and Bombay Stock Exchange (BSE). Promoter group company Chettinad Holdings Pvt plans to acquire 11.56 per cent of the equity to take full ownership of the company, according to a statement by the company to the BSE. The promoter current... |
CRH – acquisition key to growth07 January 2013, Published under Cement NewsA development spending update released yesterday by CRH shows that growth through vertical integration continued to be a key strategy for the Irish building materials major through 2012. But with spending still subdued compared to 2006 peaks levels, will 2013 see the company step up its acquisition activity and which markets offer the potential for takeover opportunities? In its twice-yearly development statement, CRH said it closed 2012 with acquisitions and investments reaching almost EU... |
Vicat04 January 2013, Published under Cement NewsVicat Sagar has started up its 2.8Mta cement works north of Karnataka in India in December with the commissioning of the first production line. Vicat owns 53 per cent of the shares and the 'Bharathi Cement' brand will be used, as is the case with the existing Vicat investment in India, in southern Andra Pradesh. |
Mangalam Cement new projects set for 2013 completion04 January 2013, Published under Cement NewsIndia-based producer Mangalam Cement, part of the BK Birla group, will complete its capacity expansion projects this year. The company is increasing clinker capacity from 1.5Mta to 2.2Mta and is also setting up a 1.25Mta grinding works at its existing plat at Morak, Rajasthan. According to sources, the clinker expansion project is likely to be completed by April 2013 with the grinding plant slated for completion for October of this year, according to Economic Research India. Mangalam C... |
Pakistan export volumes fall, rise in value terms03 January 2013, Published under Cement NewsDuring the first five months of the current fiscal (FY12-13) Pakistan exported 3.612Mt of cement and earned US$245.48m compared to 3.624Mt at US$192.31m in the corresponding period of last year. This shows that cement exports rose 27.65 per cent in terms of value in dollars but fell by 0.32 per cent in terms of quantity over the July-November FY11-12 period, according to data by Pakistan’s Federal Bureau of Statistics. However, in terms of the Pakistan rupee, exports rose 39.68 per cent... |
Petron wins new order from Madras Cements, India02 January 2013, Published under Cement NewsPetron Engineering Construction has received an order from Madras Cements a proposed grinding unit at Anakapalli Visakhapatnam. “The order is for mechanical, electrical and instrumentation fabrication and erection works for the proposed cement grinding unit at Anakapalli Visakhapatnam,” Petron Engineering said in a statement. |
Cement major to set up third unit in West Bengal31 December 2012, Published under Cement NewsAmbuja Cement, the Indian subsidiary of Holcim, has expressed an interest in setting up a third unit in Bengal, according to a report in the Times of India. The company already operates plants in Sankrail and Farakka. State commerce and industries minister Partha Chatterjee said the cement major was looking to establish a new greenfield unit in Bengal. The minister was speaking to reporters on the sidelines of an event to launch the expansion of the company's 2.4Mta grinding unit in Sankra... |
Northern India: rising demand to support prices29 December 2012, Published under Cement NewsA slower rate of new capacity additions coupled with strong demand in north India will improve the business environment enabling higher prices for cement companies such as Shree Cement, JK Cement and JK Lakshmi Cement. A reduction in oversupply will improve utilisation levels and eventually lead to higher prices. While India will see capacity expansion of more than 80Mt in the next two years, in north India, it will just be 8-10Mt, according to a report in the Economic Times. Demand gro... |
New appointments at Loesche India21 December 2012, Published under Cement NewsMr PC Abraham has been appointed Managing Director of Loesche India Pvt Ltd as of 1 October 2012. Mr Abraham joined Loesche India Pvt Ltd on 1 March 1995 and has been working as Executive Director of the Technical Department. Under his leadership Loesche India established a successful and competent Technical Field Service Department. Furthermore, Mr AC Goyal has been nominated as member of the Board of Directors of Loesche India Pvt. Ltd as director of finance. The position is also effecti... |
Lafarge looking to sell stake in Indian operations?21 December 2012, Published under Cement NewsPrivate equity funds are in talks to buy a minority stake in Lafarge India as the cement company taps new ways to fund its expansion, the Economic Times of India reports. Carlyle, KKR, Temasek and TPG Capital have begun preliminary talks with Lafarge India management, two sources close to the transaction said. Some of them have also signed non-disclosure agreements. Lafarge wants to shed up to a 20 per cent stake to fund expansion plans worth about INR6000 crore, the ET reported. " Lafar... |