Cement News tagged under: india
India: US$122m net profit for Udaipur Cement in September quarter22 November 2013, Published under Cement NewsNet profit of Udaipur Cement Works reported to INR77,000m (US$122m) in the quarter ended September 2013 as against net loss of INR21,300m (US$33.8m) during the previous quarter ended September 2012. Sales reported to INR32,700m in the quarter. For the full year, net profit swung to INR58,500m in the year ended September 2013 from a net loss of INR126,200m during the previous year ended September 2012. Sales reported to INR32,700m in the year ended September 2013. |
India: IRCA suggests challenging times for Indian producers21 November 2013, Published under Cement NewsIndia's cement producers profits are under pressure as raw material and fuel costs rise, and delays in construction projects tighten margins. Ratings Agency IRCA point out that cement prices are also subdued and that these are challenging times for the domestic industry as demand and rates remain under duress. "The outlook for cement industry continues to remain challenging with both demand and prices continuing to remain under pressure. Domestic production grew by a modest 3.9 per cent du... |
Holcim's India's rejig plan receives FII support20 November 2013, Published under Cement NewsHolcim may have won minority shareholder support for its restructuring plans in India on strong backing from foreign institutional investors (FII) who control just over 30 per cent of its subsidiary, Ambuja Cements. According to analysts, the FII includes some 359 foreign portfolio investors, which is expected to be sufficient to overcome opposition from domestic institutional investors including LIC, the largest institutional shareholder with a 6.1 per cent stake. But state-owned insure... |
India: The 13th NCB international seminar on Cement and Building Materials opens19 November 2013, Published under Cement NewsThe 13th NCB International Seminar on Cement and Building Materials opened it doors to over 800 delegates, including 125 overseas delegates at the Manekshaw Center in New Delhi, India, this morning. Torch lighting to start the 13th NCB International Seminar on Cement and Building Materials The conference celebrates 50 years of the National Council for Cement and Building Materials. During the opening ceremony, flowers where presented in memory of the birth of the late Indira Gh... |
Lower pricing hits July-September profits, India15 November 2013, Published under Cement NewsIndian cement companies saw their profits drop over the July-September period due to higher cement prices and freight expenses. Average dispatches across the country were estimated to have increased by 3.5 per cent, according to Business Line. Meanwhile, coal expenses were also lower as the international market price was down 11 per cent YoY to US$78/t. However, the average cement prices were at INR279/50kg bag during the quarter, down seven per cent from INR300/50kg bag. In South Ind... |
Holcim gets FIPB approval for India restructure14 November 2013, Published under Cement NewsHolcim has received approval from the Foreign Investment Promotion Board (FIPB) of India to merge Holcim India Private Ltd (HIPL) with Ambuja Cements as part of plans to streamline its operations there. Holcim, which holds majority stakes in ACC and Ambuja Cements, announced plans in July to consolidate operations. In a two stage deal, Ambuja will first acquire a 24 per cent stake in HIPL for a cash consideration of INR35,000m (US$~600m), followed by a stock merger between HIPL and Ambuja.... |
Holcim held back by weaker Indian and Mexican markets05 November 2013, Published under Cement NewsHolcim's turnover for the first nine months declined by 6.1 per cent to CHF14,941m, as weaker Indian and Mexican markets hold back the company's performance. In euro terms the reduction was 8.0 per cent to EUR12,136m and in US dollar terms the decline was 5.7 per cent. The Asia Pacific region generated 37.5 per cent of group turnover, down from 39.3 per cent a year earlier, while Europe represented 28.4 per cent, up from 26.5 per cent. Latin America contributed 17.1 per cent against 15.6 ... |
Zuari Cement breaks ground on new grinding plant, India31 October 2013, Published under Cement NewsItalcementi group company Zuari Cement has launched the construction of a 1Mta grinding unit in Solapur, Maharashtra. The groundbreaking ceremony, held on Wednesday, was attended by Nabil Francis, Managing Director, Zuari Cement;, HS Ramesh, director – Business Development, and S Sundaram, VP - Projects. The new Maharashtra unit is expected to be operational in the second quarter of 2015 and will serve the southern and western parts of the state. The facility will also be designed to d... |
Global demand growth outlook downgraded28 October 2013, Published under Cement NewsA recent report by Morgan Stanley has lowered the growth outlook for global cement demand for 2013 to adjust for a changing economic landscape in emerging regions. Following economic updates by its analysts, which cut GDP forecasts for most emerging countries, cement volume expectations have been significantly trimmed in half of the world’s regions. The research house now expects two per cent growth in global cement demand in 2013 (excl. China) followed by 3.5 per in 2014 – marking the slo... |
Bangladesh sets next export revenue target24 October 2013, Published under Cement NewsThe government of Bangladesh has set an export revenue target of US$6.46m for cement, stone and salt over FY13-14 its export Promotion Bureau (EPB) has said. However, the country is facing a number of challenges as deliveries to its main export market of India have recently been in decline. Over FY12-13 Bangladesh exported US$6.15m, with earnings including minor amounts of stone and salt. In July 2013 alone, Bangladesh earned export revenues of US$0.71m compared to US$0.56m in the same mont... |