Cement News tagged: International
Russian court upholds antitrust body’s ruling to fine Eurocement
Moscow Arbitration Court has upheld the ruling of Russia’s Federal Antimonopoly Service, or FAS, to fine Russian cement producer Eurocement Group 50,000 rubles, FAS said in a statement Tuesday.
CAF approves US$400mn loan to Votorantim
The Andean Development Corporation (CAF) has approved a long-term corporate loan of US$400mn to Brazilian industrial group Votorantim, the multilateral financing organization said in a press release.
Saudi Yamama cement launches new cement mill
Saudi cement producer Yamama Cement Company (YCC) said on November 19, 2005 it had put into operation an additional cement mill. The new cement mill has a daily capacity of 6,000t. YCC’s daily c
Saudi El-Maimani Group plans US$200m cement plant in Egyptian Safaga
Saudi Arabia’s diversified El-Maimani Group plans to build a cement plant in Egypt’s Red Sea port of Safaga for an estimated $200m. The bulk of the plant’s output will be exported to
Italcementi to make investments in Turkey
Carlo Pesenti, the CEO of Italcementi Group which is the world’s fifth biggest cement producer, said on Tuesday that their group intends to make new investments in Turkey. Pesenti will arrive i
Cement prices may rise Rs 10
India’s top cement makers are likely to raise prices in the west, north and south, mainly on strong demand. Mumbai-based ACC has already increased prices between Rs 2 and Rs 5 per bag to cash in on st
Apave Vietnam to construct cement plant
An industry ministry-owned company has retained Apave Vietnam to manage construction of a cement plant in the country’s northern mountainous region. Following a contract signed between Apave an
Kyrgyz plans new plant
President of the Kyrgyz Republic, Kurmanbek Bakiev, has made the first quarter of 2006 as the date to begin construction work on the building the cement factory in Kysylkia district. The country’s pre
Algerian domestic cement capacity
President of the Board of Directors of the Participations Management Company (SGP) Abdelhamid Thamri has assured that the domestic cement capacity is sufficient to meet demand. Thamri, while speaking
Brazil’s mixed signals
According to the data released by the National Cement Industry Union (SNIC), the production of cement was of 3.18Mt in September, a decline of 5.3 per cent in relation to August. The accumulated total
Cemco seeks reversal of CA decision
Cemco Holdings Inc. has asked the Court of Appeals to reconsider its decision requiring the cement firm to tender an offer to buy the stakes of minority shareholders of Holcim Philippines Inc.
Carib Cement’s earning up, but profit down
A 17.5 per cent increase in revenue for quarter to September 30 was not enough to offset the negative impact of Hurricanes Dennis and Emily and higher energy costs at Caribbean Cement Company, which r
Semen Baturaja reports surge in profits
State-owned cement maker PT Semen Baturaja in South Sumatra reported a gross profit of Rp20bn (US$2 million) in the first 10 months of this year, up from only Rp4.14 billion in the whole of last year.
US Lehman Brothers Cuts Italy Italcementi Stake
US investment bank Lehman Brothers has cut its stake in Italian cement group Italcementi to under the threshold of two per cent, Italian stock market regulator Consob reported on November 18, 2005.
Exchange rate loss of Indocement to decrease
PT Indocement Tunggal Prakarsa Tbk predicted that the exchange rate loss of the company will decrease this year as the company has hedge some US$150m of its debt, while the exchange rate of Japanese Y
Egyptian Misr Beni Suef net profit soars 290% YoY
The net profit of Egyptian cement producer Misr Beni Suef Cement (MBSC) jumped 290 per cent YoY to E£101m (US$17.5m) in the first nine months of 2005.