Cement News tagged under: Indonesia
Semen Gresik seals Vietnam deal20 December 2012, Published under Cement NewsIndonesia’s leading cement producer PT Semen Gresik has signed deal worth US$157m with Hanoi General Export-Import JSC (Geleximco) on 18 December to acquire 70 per cent stake in Thang Long Cement JSC. Under the agreement, first reported in mid-November, Semen Gresik will become a strategic shareholder of Thang Long Cement JSC, a joint venture between the state-run Vietnam Machinery Installation Group (Lilama) and Geleximco, local press reported on Wednesday. Thang Long Cement has a cem... |
Indonesia Jan-November 2012 sales rise 15%17 December 2012, Published under Cement NewsIndonesia's cement sales have continued their upward trend, with domestic consumption having risen 15 per cent in the first 11 months of 2012, thanks to the country's infrastructure and property sectors. Cement sales rose to 49.9Mt between January-November 2011, state-owned cement producer Semen Gresik reported on its website on Friday citing data from the Indonesian Cement Association (ASI). "Increases in cement consumption were driven by the property and infrastructure sectors, as we... |
Semen Baturaja IPO set for February 201312 December 2012, Published under Cement NewsIndonesia state-owned cement producer PT Semen Baturaja is planning an Initial Public Offering (IPO) for next February to raise funds to construct a new cement plant. The company aims to raise up to IDR1trn (US$103.79m) by selling up to 35 per cent of its enlarged capital, Reuters cited Semen Baturaja director, Pamudji Raharjo, as saying. The funds raised will be used for the construction of a new 1.5Mta cement factory in Pabrik Baturaja II. The project is slated for completion in 2015... |
Nomura raises target price on Indocement10 December 2012, Published under Cement NewsNormura Equity Research has raised its target price on Indonesia’s second largest cement producer PT Indocement Tunngal Prakarsa (INTP) from IDR23,400 to IDR26,900 (US$2.43 to US$2.79). T he research house has maintained its ‘buy’ recommendation on higher production volume and improved enterprise value/EBITDA. "Despite recent outperformance of the cement sector and INTP's share price, we still favour the sector, as in our view the cement sector and INTP will continue to benefit from ris... |
Indonesia: Bosowa Group to extend ties with QNB06 December 2012, Published under Cement NewsIndonesia's Bosowa Group, plans to boost cooperation with Qatar National Bank by inviting the Qatari commercial lender to establish several joint ventures in non-banking financial institutions, reports the Jakarta Globe. Bosowa, which runs businesses ranging from taxi operations to power-plant construction and cement production, and QNB are investing partners in a locally incorporated bank, Bank QNB Kesawan. Bosowa now owns a 23% stake in the Indonesian lender, and QNB owns a majority stake... |
Thailand's Siam Group to establish Banten cement plant, Indonesia05 December 2012, Published under Cement NewsThailand’s largest cement producer Siam Cement Group plans to establish a cement plant in the Lebak district of Indonesia, Banten province, according to media reports. Banten is the westernmost province of Indonesia on the island of Java "We project cement production to reach 6000tpa from PT Gama Group and Siam Cement Group which will operate as of 2013," chief of the Lebak District Integrated Licensing Service Office (KPPT) Hari Setiono told Antara News. The KPPT chief said that the provi... |
Bosowa aims for larger slice of Indonesian market05 December 2012, Published under Cement NewsThe Bosowa Corporation is planning to invest around IDR3trn in its cement activities to gain a greater share of the thriving Indonesian market. Speaking to the Jakarta Post, Bosowa CEO Erwin Aksa, said the company will spend a total of IDR10trn (US$1.06bn) by 2014 with a special focus on the cement and energy-related sectors. Next year, it plans to spend IDR6trn, half of which will be dedicated to increasing cement capacity. “We will spend about IDR3bn on the cement sector and IDR3trn... |
Gresik eyes tie-up with Semen Baturaja, Indonesia30 November 2012, Published under Cement NewsSemen Gresik CEO Dwi Soetjipto has expressed an interest in synergising with another state-owned cement producer, Semen Baturaja, according to local press reports. "We see that such a synergy can improve Semen Gresik's position and Baturaja's inclusion can give added value," said Dwi at a press conference during the Investor Summit, earlier this week. The acquisition was planned after Semen Gresik had changed its name to Semen Indonesia and became a strategic holding company for products u... |
Indonesian full-year demand set to beat expectations30 November 2012, Published under Cement NewsIndonesian cement demand is seen closing this year 12 per cent ahead of 2011 figures, above previous expectations of eight per cent, but growth next year is likely to be impeded by capacity constraints, according to analysts at PT Samuel Sekuritas. Domestic cement consumption reached 44.64Mt in the January to October period of this year, an increase of 14.5 per cent compared to 38.98Mt last year, according to data from the Indonesian Cement Association. Next year, PT Samuel Sekurit... |
PT Semen Baturaja IPO set for Feb 2013, Indonesia29 November 2012, Published under Cement NewsIndonesian state-owned producer PT Semen Baturaja expects to list its shares on the Indonesia Stock Exchange in February 2013. Semen Baturaja has been ready to release a maximum of 2 billion shares, or equivalent to 35% of paid up capital, with a targeted Initial Public Offering (IPO) proceeds of IDR1trn. The company had appointed three underwriters for its IPO, namely PT Bahana Securities, PT Danareksa Sekuritas and PT Mandiri Sekuritas, Investor Daily reported. Semen Baturaja President D... |