Cement News tagged under: India
ACC reports 52 per cent rise in 2QFY13 net profit19 October 2012, Published under Cement NewsACC Ltd reported the growth of 52 per cent in its consolidated net profit for the second quarter of FY12-13 and expects its sales volume to increase in the next quarter as the monsoon season has ended. Net profit during the July-September period was INR2.42bn rupees (US$45m) against INR1.59bn a year ago. Net sales rose 12 per cent to INR25.56bn during July-September 2012 period but sales volume declined five per cent to 5.4Mt. The steep increase announced in the price of diesel during ... |
Aditya Birla resumes talks with Jaypee over cement assets – report17 October 2012, Published under Cement NewsThe Aditya Birla Group has restarted negotiations with Jaikprakash Associate’s to buy out its Jaypee Cement Corp plants in Gujarat and Andhra Pradesh, the Economic Times (ET) of India reports. Birla is understood to have made an offer of up to US$130/t to acquire cement assets with a total capacity of 9.8Mt, two sources close to the negotiations said. Talks between the two companies fell through in July this year due to differences over valuations, the ET noted. Last week, CRH said neg... |
Pakistan cement market progress15 October 2012, Published under Cement NewsLatest statistics on the Pakistan cement sector show that the country will have ended the first quarter of FY12-13 (July-September 2012) ahead of the same period as last year as September sales gather pace on the back of increased real estate activity and higher government infrastructure spending. Improving prices and government incentives are likely to further spur industry profitability but declining exports remain a concern. Preliminary estimates for September 2012 dispatches show tota... |
Gebr Pfieffer wins repeat order from Shree Cement, India12 October 2012, Published under Cement NewsGebr Pfeiffer SE has secured another order from India-based Shree Cement headquartered in Kolkata. This new contract will see Gebr Pfeiffer provide an MPS 5000 B vertical roller mill for the 8th kiln line, which is to be set up at RAS works in Rajasthan. The mill featuring a 3400kW drive is designed to grind 420tph of raw material to a product fineness of two per cent R212µm. The product will be classified in an integrated latest generation high-efficiency SLS-B type classifier. The moist... |
CCI asked to provide details on cement cartel ruling, India12 October 2012, Published under Cement NewsThe Competition Appellate Tribunal (COMPAT) has asked the Competition Commission of India to submit fresh copies of its order levying over INR 6,300 crore (US$1.1bn)) in penalties on 11 cement companies for cartel practices, providing them with complete details on production, pricing and sales. Hearing the appeals of the cement companies against the Competition Commission order of June 21, COMPAT asked it to issue a fresh copy of the direction to them within a week, according to reports i... |
Shree cement expands limestone mining capacity, India11 October 2012, Published under Cement NewsShree Cement is expanding its limestone mining capacity from 11.4Mta to 14.4Mta on a 750ha unit in Ras, district. Pali, Rajasthan. Shree Cement is planning to expand the capacity of its Nimbeti Open Cast Limestone mining project from 17.2Mta to 19.6Mta, at village Ras, district of Pali, Rajasthan. The project is awaiting clearance. |
Kerala Cement Dealers Association to shut indefinitely11 October 2012, Published under Cement NewsCement dealers, under the Kerala Cement Dealers Association, will down close down indefinitely from 15 November in the state, The Hindu reports. Association State committee officials alleged at a press meet here on Monday that cement dealers in the State were being ‘continuously harassed’ and ‘unfairly treated’ by tax officials in the state contrary to the promises made by the government and the Finance Department. As a precursor to the strike, dealers would stop purchasing and bringin... |
CRH announces termination of negotiations in India10 October 2012, Published under Cement NewsCRH plc announced that it has terminated negotiations with Indian cement producer Jaypee Cement Corporation (Jaypee) regarding the possible purchase by CRH of an equity stake in Jaypee’s Gujarat cement business. CRH said these negotiations were terminated as the parties were unable to agree terms. The Irish-based building materials major said that it acknowledges the co-operation of the Jaypee management team throughout the negotiations and due diligence process. CRH confirmed back in A... |
Nalanda Capital cuts stake in Shree Cement, India09 October 2012, Published under Cement NewsNalanda Capital has sold around half of its holding (3.25%) in Shree Cement. The fund sold around 1.61 per cent or 561316 shares for INR3800.84 per share, aggregating around INR213.33 crore through bulk deal on the Bombay Stock Exchange. Nalanda Capital made around 2x returns from this share sale. It invested in the company between June and September 2011 when the prices were hovering between INR1600-1800 crore. |
Indian producers seen posting higher 2QFY13 figures05 October 2012, Published under Cement NewsIndian cement manufacturing companies are expected to put up a robust performance this quarter owing to higher dispatches and lower raw material costs. The Economic Times of India reports that cement demand was higher this quarter on account of the monsoon being slightly weaker than normal. In addition, lower coal prices may lead to improved realisations. As a result, ACC Ambuja Cements and Grasim Industries are expected to double net profits from year-ago levels following double-digit sales... |