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Global construction may up 70 pct by 2020-report

Global Constuction output will recover to grow 70 percent by 2020, powered by emerging nations such as China and India, according to a new report published on Thursday. China is set to overtake the United States as the largest construction market by 2018, in spite of the U.S. ...

Italcementi sees negative trend in European markets lasting into 2010

Italcementi, the world's fifth largest cement maker, said that recovery would take longer than previously expected and that some of the cost cuts planned for 2009 would instead be achieved next year. Chief Operating Officer Giovanni Ferrario forecast what he called a negative ...

Sri Lanka Tokyo Cement Q3 net falls on building slowdown

Sri Lanka's Tokyo Cement group said September quarter net profit fell 12 percent to 139 million rupees from a year ago owing to a drop in sales which however are expected to pick up. The firm said in a stock exchange filing of interim results that sales during the quarter were ...

Oman Cement nine-month profit up

Oman Cement Company announced a net profit of 16.9 million Omani riyals (Dh161.2 million) for the first nine months of 2009, 56.2 per cent higher compared to 10.8 million riyals in the same period last year. Net profit during the third quarter of 2009 was down 12.1 per cent ...

China's urban fixed-asset investment up 33.1%

China's urban fixed-asset investment rose 33.1 percent in the first 10 months to 15.07 trillion yuan (2.21 trillion U.S. dollars), compared with the same period a year earlier, the National Bureau of Statistics (NBS) announced Wednesday. The growth rate was 5.9 percentage points ...

Imported cement drags down East African prices

Cement from India, China and Pakistan into the East African Community (EAC) member states is hurting local manufacturers since it is sold 50% and 60% cheaper than the local price. This has forced the East African Business Council (EABC) to ask member state's governments to ...

Gulf Cement 9-month profit falls 47% as operating income drops

Gulf Cement Co., a United Arab Emirates-based cement producer, said nine-month profit declined 47 percent as operating income dropped. Net income fell to 107.4 million dirhams ($29 million), or 13 fils a share, from 202.5 million dirhams, or 25 fils, in the year-earlier period, ...

Saudi cement sales fall amid Ramadan slowdown

The Ramadan lull in construction in Saudi Arabia dampened the recovery in cement sales which was gaining steam over the summer, but despite the decline in monthly growth, the sector is still showing double digit annual growth, a leading bank said Saturday. Sales of cement ...

Iran: 7-month cement output up 11%

Iran has produced over 28.7 million tons of cement in the seven-month period beginning March 21, 2009. Islamic Republic of Iran News Network quoted the Ministry of Industries and Mines' Public Relations office as reporting that the production was 11 percent higher than the figure ...

Siam Cement Q3 net profit up 18 pct, beats forecasts

Siam Cement PCL SCC.BK, Thailand's biggest industrial conglomerate, posted an 18 percent rise in third quarter earnings on Wednesday, beating forecasts, helped by improving petrochemical earnings. Siam Cement said its July-September net profit was 6.99 billion baht ($209.1 ...

Iran's Khazar Cement Company to go public

A 4-percent block of shares of Khazar Cement Company will be offered on the Tehran Stock Market on January 4, 2010. The block of shares equals 8,745,744 shares, the Islamic Republic of Iran News Network reported. According to Iran's Fourth Five-Year Economic Development Plan ...

Cimpor investor Fino holds out for higher bid

Manuel Fino, owner of a 10 percent stake in Cimpor-Cimentos de Portugal SGPS SA, is holding out for a higher price after Companhia Siderurgica Nacional SA offered to buy the Portuguese cement maker, Diario Economico reported, without saying where it got the information. Fino has ...

Cemex USA wins $558 million suit against the state of Texas

Cemex USA has finally won a legal ruling over $558 million in mineral royalties sought by the state of Texas. The ruling by Judge Carlos Villa, a state court judge, in favor of Cemex declared that the state and the General Land Office cannot require Cemex to pay royalties for the ...

Indian cement firms plan the fifth cement price hike this year

After hiking the prices four times in 2009, Indian cement companies are getting ready to hike prices one more time in the last quarter of fiscal 2009-10. The prices are likely to rise during the remaining period of the current fiscal on the back of high demand owing to infrastruc...

India: Cement prices set to rise in western, southern regions

After increasing prices in November, Indian cement manufacturers seem set to effect another round of hike soon in western and southern regions due to shortage of wagons, analysts said. "In November 2009, cement prices went up in the western and southern regions by Rs 5-8 per bag ...

EBRD invests 120 mln euros in Lafarge Russian ops

The European Bank of Reconstruction and Development has invested an additional 120 million euros ($172.7 million) in the Russian unit of Lafarge SA (LAFP.PA), the world's biggest cement company. EBRD, which in 2006 invested 70 million euros into Lafarge Cement Russia, said in a ...

Indian cement capacity utilisation on a downward trend

The capacity utilisation in the Indian cement industry has fallen to 80% in November 2009 from a high of nearly 100% in March 2009. Analysts believe addition of new capacities and oversupply to be the main reasons for this downward trend. Addition of new capacities - coupled with ...

Armenian cement plant closed down amid construction slump

Citing a continuing slump in construction, one of Armenia's two cement factories halted production operations and effectively laid off most of its 600 workers on Wednesday. The Mika-Cement company said its factory located in Hrazdan, an industrial town more than 40 kilometers ...

Argentine's Loma Negra gets $125m loan for expansion

Argentine cement company Loma Negra has secured a $125 million loan package from the Inter-American Development Bank and six commercial banks to complete its expansion program. Santander and Standard Bank were the lead arrangers of the five-year, $105 million syndicated loan, ...

Mexico

Mexico's Cemex, the world's No. 3 cement maker, cut its pretax earnings and free cash flow outlook for 2009 on Wednesday after the company sold its Australian assets, sending its shares down sharply. Cemex shares fell after the company posted weaker-than-expected quarterly ...
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