Asia & Pacific Rim - 17 February 2015

Grasim Industries Ltd’s Board of Directors has approved the proposed merger of Grasim and Aditya Birla Chemicals (India) Ltd (ABCIL), part of the Aditya Birla Group.

Volvo CE’s President, Martin Weissburg, outlined the company’s carbon reduction initiatives at the World Wide Fund for Nature 2015 Climate Savers China Annual Conference earlier this month.

Profit after tax was up by more than 50% y/y, but net sales were down for the Pakistani cement company.

The new Mariveles Dry Bulk Terminal in the Philippines will handle cement raw materials such as clinker, as well as coal, silica sand, steel fertiliser and other dry bulk cargo.

Pakistan’s Fauji Cement has reported its results for the first half of this fiscal (1H15), which show a 5% increase in cement sales volumes.

Tasek Corporation Bhd, Malaysia, has reported its FY14 and 4Q14 results, which show growth in revenue thanks to increased cement demand from major construction projects.