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Indian cement cos face overcapacity risks, price pressure

Despite a strong demand growth of 10-11% in 2010 and the signs of recovery that have emerged since November 2009, a slower-than-expected recovery in real estate, together with an expected withdrawal of the fiscal stimulus, could potentially hold back growth in the Indian cement ...

Grasim post biggest profit gain in three years on cement sales

Grasim Industries Ltd., India's third-largest cement maker, posted its biggest quarterly gain in profit in three years boosted by rising demand for the construction material and textiles. Net income rose 81 percent to 5.96 billion rupees ($129 million) in the three months ended ...

India Jaiprakash Associates to invest INR 45 billion in cement project

Jaypee Group firm Jaiprakash Associates Limited said that it will invest INR 45 billion to take its cement manufacturing capacity from 20 million tonnes per annum to 33 million tonnes per annum by 2012. The company's current capacity is 15 million tonnes per annum that will go up ...

Eagle Cement to run in March

The new P6.78-billion Eagle Cement Corp. plant of magnate Eduardo Cojuangco in Meycauayan, Bulacan, is set to begin commercial operations in March, company officials informed the Board of Investments (BOI). Trade Undersecretary and BOI managing head Elmer Hernandez said the ...

Southern Cement's Q4 net profit up by 2.4%

Southern Province Cement Co, Saudi Arabia's largest cement maker by market value, said its fourth quarter profits rose by 2.4 percent due to increased sales and lower costs. Southern Cement made a net profit of $48.27 million in the three months to end December, up from 177 ...

Cemex contributes to Haiti relief effort

Cemex, S.A.B. de C.V. (NYSE: CX), announced today that, in solidarity with the Haitian people, the company is responding to this humanitarian emergency by collaborating in relief efforts with the governments of Mexico and other countries, international institutions, and social ...

Tunisia will have the largest cement factory in North Africa

Following a deal struck with the leading Danish group FL Smidth and its Turkish partner for civil engineering and construction, Elkon-Prokon, a new cement company dubbed "Carthage Cement" will soon be created with the financial assistance of the international bank HSBC. The ...

Cemex unit to lay off 124

Cemex Inc. plans a temporary layoff of 124 workers at its cement plant in Wampum in LawrenceCounty beginning March 19, according to the notice the company filed with the state. The company will continue to produce cement until the layoffs begin, while stockpiling the cement for ...

Nigeria Lafarge unit sees sharp rise in Q1 turnover

Lafarge Cement WAPCO, the Nigerian unit of the world's biggest cement maker Lafarge, said on Wednesday it expected its turnover in the first quarter to March to rise three-fold to 15.6 billion naira from year ago. The company's pretax profit was forecast at 3.8 billion naira, ...

Edelweiss: Cement demand to remain high in India

Edelweiss, a leading broking and investment research firm, says that cement demand is expected to be driven by government projects, which would not be impacted by modest hikes in interest rates. Further, demand from government backed infra projects remains good and is likely to ...

Holcim's commitment to environment doubted

The commitment of PT Holcim Indonesia, Tbk (PT Holcim) in restoring the ecology of Jambangan cave I and II is being doubted by Coordinator of Natural Resources Protection and Conservation Agency (LKPSDA), Edy Thoyibbi. According to him, the company's pledge is only to overcome ...

Italcementi will sell EU700 Mln in bonds next month

Italcementi SpA plans to sell about 700 million euros ($1 billion) in bonds to institutional investors in February, daily Il Sole 24 Ore reported, without saying where it got the information. Banca IMI SpA, BNP Paribas SA, Merrill Lynch & Co. and Societe Generale SA are arranging ...

Portugal cement company snubs Brazil takeover bid

The board of Portugal's largest cement company Cimpor recommended Thursday that shareholders reject a euro3.8 billion ($5.4 billion) takeover bid by Brazilian steelmaker Companhia Siderurgica Nacional. Cimpor said the offer was too low. The bid "significantly undervalues the ...

CSN must boost Cimpor offer after gain

Cia. Siderurgica Nacional SA must increase its 3.86 billion-euro ($5.58 billion) takeover offer for Cimpor - Cimentos de Portugal SGPS SA if it wants to win control of Portugal's biggest cement maker, investors said. The offer by CSN, as Brazil's third biggest steelmaker is known...

India

Cement makers are back in the reckoning as investors lap up the stocks on back of robust despatches on back of rising demand in the construction and realty space and of course a lower base effect. Sanjay Ladiwala, president of cement stockists and dealers at Association of Bombay...

India: Cement sales up on realty, infra push

If the production and sales figures of cement companies for December are anything to go by, the industry could see a healthy demand from the realty and infrastructure sectors in what remains of the current fiscal. Ambuja Cement, the third-largest cement maker, witnessed four per ...

Egypt to offer 12 cement plant licences in 2010

Egypt's Trade Ministry will offer 12 licences to build cement factories in 2010 to meet growing local demand, Al-Alam al-Youm newspaper quoted Trade Minister Rachid Mohamed Rachid on Saturday as saying. "The new factories would help meet an expected increase in local demand until ...

Cement makers see tough markets in Europe, U.S.

The world's leading cement makers expect the coming years to be tough in Europe and the United States as rising government debt looks set to squeeze infrastructure spending, the Financial Times said on Wednesday. As a result, large cement makers such as Swiss group Holcim (HOLN...

Israel permits 250 tons of cement into Gaza UN housing project

A U.N. spokesman says Israel has permitted the import of 250 tons of cement into the Gaza Strip for a U.N. housing project of 150 apartments. The project was started before the Hamas takeover but was halted when the blockade began. Adnan Abu Hasna said U.N. Secretary-General Ban ...

Cemex opens new concrete plant in UK

Concrete product and cement manufacturer Cemex has opened a new ready-mixed concrete plant in York, UK. The 1.3m pounds batch plant replaces Cemex's old plant on a three-quarter of an acre site surrounded by homes, which was built 39 years ago. The old site will now be sold for ...
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