Cement News tagged under: Weekly Newsletter
Vietnam sees double-digit rise in 9M13 sales10 October 2013, Published under Cement NewsVietnam sold 44.4Mt of cement in the first nine months of this year, representing an increase of 12 per cent YoY, the Building Materials Department under the Ministry of Construction has said. The total amount sold also included 10Mt of cement and clinker exports. At present, the industry has around 2.6Mt of unsold products, mainly clinker, including 1.2Mta of cement and clinker from the Vietnam Cement Industry Corp (Vicem). The department also said it expects the retail price of ceme... |
UK cement industry faces shake-up08 October 2013, Published under Cement NewsThe Competition Commission (CC) in the UK has said it is looking to invigorate competition in the British cement market by opening the way for a new independent producer. As well as provisionally requiring Lafarge Tarmac to sell a cement plant (and accompanying ready mix concrete plants if necessary) to facilitate entry of this new producer, the CC is also proposing to limit the flow of information and data between cement producers, it said in a statement released today. Additionally, the... |
Iranian cement output continues to climb07 October 2013, Published under Cement NewsIran has reported a four per cent rise in cement output in the first half of the current Iranian calendar compared to the same period of last year. The country has produced 38.3Mt of cement since 21 March 2013, IRNA news reported yesterday. During the sixth calendar month of Shahrivar (23 August - 22 September) total output reached 6.4Mt. Full year projections put total output for the current year at 80Mt, according to Abdolreza Sheikhan, Secretary of the State Cement Industry Employers... |
Fitch rates Cemex outlook Stable07 October 2013, Published under Cement NewsFitch Ratings has assigned 'BB-/RR3' ratings to Cemex's proposed floating rate senior secured notes due in 2018 and senior secured notes due in 2021. The 2018 and 2021 notes will be guaranteed by Cemex Mexico, Cemex Concretos, Empresas Tolteca de Mexico, Cemex Espana, New Sunward Holding BV, Cemex Asia BV, Cemex Corp, Cemex Egyptian Investments BV, Cemex Egyptian Investments II BV, Cemex France Gestion, Cemex Research Group AG; Cemex Shipping BV and Cemex UK. The rating outlook for Cemex ... |
ARM anticipates higher earnings growth04 October 2013, Published under Cement NewsKenya-based ARM Cement expects a slight acceleration in earnings this year as new capacity in Tanzania boosts volumes, its chief executive has said. Referring to his expectations for profitability and sales, Pradeep Paunrana told Reuters: “This year we are looking at increasing our top line and bottom line by 35 per cent over last year and next year we expect a similar growth.” The company commissioned a 0.75Mta grinding plant in the Tanzanian capital of Dar es Salaam a year ago, adding ... |
Saudi Cement receives funding for expansion04 October 2013, Published under Cement NewsSaudi cement producer Tabuk Cement Company yesterday signed an agreement with local Bank Albilad for Islamic financing worth SAR500m (US$133.3m) In a statement to the bourse, the company said it will use the funds to partially finance the second phase of an expansion project, which includes the construction of a 5000tpd clinker line, and an adjacent power plant and desalination plant. The loan is to be repaid by October 2020. |
Holcim CEO sees cost-cutting starting to work02 October 2013, Published under Cement NewsFrenchman Bernard Fontana, CEO of Holcim, who last year became the first outsider to lead the 101-year-old Swiss company, has been implementing a strict cost-cutting regime right through the company that extends even to himself. Shortly after taking the helm of Holcim, the 52-year-old Fontana launched a cost-cutting programme with the aim of restoring Holcim's return on invested capital (ROIC) to at least eight per cent after tax and boosting operating profit by at least CHF1.5bn (US$1.7bn... |
Moroccan cement sales continue to slide02 October 2013, Published under Cement NewsThe recent declining trend in Moroccan cement demand persisted in August, when the market contracted by 10.2 per cent. During Jan-Jul 2013, cement consumption fell 11.7 per cent due to harsh winter weather characterised by heavy rainfall, according to the country’s finance ministry. Cement companies produces 22Mt during the seven-month period but were only able to sell 16Mt. |
Vietnam to launch three more plants by year-end02 October 2013, Published under Cement NewsCement producers in Vietnam will bring three more plants into production later this year (X18, Quang Phuc and Dong Lam), according to the Vietnam Cement Association (VNCA). This will take the sector’s total capacity to the 70Mta mark and exacerbate the existing market glut. Cement consumption is forecast to reach 45-46Mt in 2013 and as a result, the new plants will increase the surplus output to 24-25Mt. The Vietnamese cement industry is facing a challenging time as local producers h... |
PPC commits to new DRC plant01 October 2013, Published under Cement NewsPPC has signed a memorandum of understanding with the Barnet Group, its local partner in the Democratic Republic of Congo (DRC), to build a US$230m cement factory there. Ketso Gordhan, CEO of PPC, said that the greenfield project in the DRC included the construction of a 1Mta cement factory and associated quarry. The plant would take about 24 months to complete. PPC previously confirmed the company was finalising an agreement with Chinese engineering, procurement and construction company... |