India: Ambuja wins approval for Holcim restructuring
Ambuja Cements Ltd announced on Thursday that it had received shareholders' approval to buy a 24 per cent stake in Holcim (India) Pvt. Ltd from Holderind International for INR3...
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Sri Lanka: Lafarge Mahaweli Cement sets up affordable-housing programme
A affordable-housing programme, which has been successfully implemented around the world by the Lafarge Group, will now be introduced to Sri Lanka, enabling low-cost yet safe c...
South Korea: Investors in Tong Yang Cement fear capital cut
Tong Yang Cement, which is currently under a court receivership, may slash its capital on a large scale to offset losses in prior years, according to a Reuters report. It is r...
India: US$122m net profit for Udaipur Cement in September quarter
Net 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...
PT Semen Indonesia announces waste heat project
JFE Engineering Corporation announced that it has started work on a waste heat recovery power generation project for PT Semen Indonesia (Persero) Tbk, the leading state-owned c...
South Africa: Sephaku to start Lichtenburg quarry
Sephaku Cement is scheduled to start quarry operations near Lichtenburg, South Africa, early in the New Year. A contractor for the mining work is still to be named, but Pieter ...
South Africa: Chinese investment for Mamba Cement in place
The Mamba Cement project, jointly funded by China's Jidong Development Group, the China-Africa Development Fund and a South African cement company, signed the financing agreeme...
India: IRCA suggests challenging times for Indian producers
India'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...
Swiss poll could limit executive salaries
Nine months after putting checks on excessive payouts for executives in a referendum, Europe's best-paid voters will decide on Sunday whether to cap the highest wages in a comp...
Dr Reinhold Festge elected president of the VDMA
Dr Reinhold Festge is elected VDMA president Dr Reinhold Festge, managing partner of Haver & Boecker in Oelde, Germany, has been elected as president of the Germ...
Vietnam: Vinaconex on target with restructuring
Vietnam Construction and Import-Export JSC (Vinaconex) claims to have met its restructuring targets after successfully addressing shortcomings in the firm's assets, capital sou...
Nigeria: Dangote Cement Plc gross revenue soars
In the 1H13 Dangote Cement Plc's gross revenues grew by 29 per cent to NGN288.9bn (US$1.8bn) for the 3Q13, from NGN224.5bn recorded in the corresponding period 3Q12. Dangote ...
Holcim's India's rejig plan receives FII support
Holcim 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 ...
Malaysia: Lafarge's net profit rises by 24.7%
Lafarge Malaysia Bhd's net profit for the third quarter ended 30 Sept 2013 rose 24.7 per cent to MYR120.2m (US$37.7m) from MYR96.4m a year ago. Its revenue climbed 2.7 per ce...
China: Qingsong Building Materials acquires Xinjiang cement business
Xinjiang Qingsong Building Materials & Chemicals (Group) Co Ltd has acquired a 31.64 per cent stake in Yili Nangang Building Materials (Group) Co Ltd for CNY169m (US$27.7m), th...
India: The 13th NCB international seminar on Cement and Building Materials opens
The 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...
PPC's preliminary report, year-end Sept 2013
PPC's South African cement sales volumes rose by seven per cent, while industry sales for the nine months ending June 2013 increased by 4.2 per cent. Strong volumes were record...
Brazil: CSN reports 3Q13 earnings
Companhia Siderurgica Nacional (CSN)announced its results for the 3Q13 and 9M13, posting a record net revenue of BRL4.7bn (US$2bn) in 3Q13, 15 per cent up on 2Q13. Year-to-date...
Iran increases cement output
Iran's cement output is projected to reach 80Mt by the end of the year, the secretary of Iranian cement industry employers, Abdolreza Sheikhan, has said. The country produced ...
Romanian cement sector comes under pressure
Romanian cement manufacturers will hang their hopes on a market up turn on industrial construction projects and new logistic centres, but the outlook is not encouraging for dom...
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