Asia & Pacific Rim

UltraTech, one of India’s largest cement producers, recently stated that oversupply would continue to plague the 300 million t industry for another 24 – 36 months.

Sinoma has announced that it is in talks in Europe and the US over acquisitions valued at 1 – 10 billion yuan each.

Taiwan Cement Corp. has recently posted an almost 43% increase in net profit for the first half of this year on the back of strong growth in its operations in China.

Cemex in the Philippines has partnered with two international environmental groups to implement a joint US$10 million alternative fuels project at its Solid Cement plant. Additionally, health and safety efforts are recognised in Austria and Thailand.

As reported last week, Sri Lanka is currently experiencing a huge cement shortage, currently estimated at 1 million bags per month. Now, local companies are planning to increase ready-mix facilities and expand cement production capacity.

Analysts continue to predict a negative outlook for the Indian cement industry, as demand-supply glut continues. Meanwhile, mining has been suspended in Chittorgarh and the Ministry of Environment and Forests has reported that action is being taken against plants that are not complying with emissions standards.

Reliance has placed orders with Loesche for two projects in India, comprising four mills altogether.

The cement shortage in Sri Lanka continues, as price controls limit supplies and threaten the island's construction sector.

Lafarge has agreed with Boral to sell them its stake in their common Asian Gypsum joint venture for €429 million.

Hazemag has supplied Bim Son Cement Co., Vietnam, with a complete limestone crushing plant and a clay crushing plant.

Holcim Philippines has reported a hefty decline in first semester profit compared to last year, as cement weakened in the absence of election-related government spending that boosted sales in early 2010.

Lucky Cement Ltd, Pakistan, has reportedly received Board approval for a plan to set up a JV plan in the Democratic Republic of Congo.

In order to bridge the gap between cement demand and supply, Jammu and Kashmir Cements Ltd is to double its production capacity from 600 tpd to 1200 tpd.

Quarterly and monthly results from some of the Indian majors show impact of increased fuel costs and low demand.

Birla Corp has announced a lower Q1 net profit of Rs 111.88 crores, as compared to Rs 118.28 crores in the previous corresponding quarter. The results have been attributed to reduced ex-works realisation in the cement division.