Orient Paper and Industries has announced its intentions to demerge its cement business in order to create a pure-play cement company. Orient’s shareholders will participate directly in the cement company.
UltraTech Cement has announced a rise in profit for the quarter ended 30 June 2011, but notes that its results were adversely impacted by a 30% increase in domestic coal prices.
According to the Vietnam Cement Association, domestic cement consumption this year is expected to be as low as 52.5 million tpa as a result of a decline in local demand.
Lafarge has announced the sale of its Australian gypsum business to Knauf for €120 million. The news follows the company’s recent negotiations with Etex Group to sell its European and South American gypsum operations for an enterprise value of €1 billion.
Cement traders have reported an increase in cement prices despite recent tax reductions aimed at benefiting consumers.
TCC International is to invest 1.85 billion yuan in the construction of a production base in Shaoguan, Guangdong Province, China.
The M P Birla Group’s flagship company, Birla Corp. Ltd, has announced that it is poised to expand its production capacity.
ACC Cement Co. has signed an MoU with the Goan government for the collection, disposal and consumption of wastes as alternative fuels.
The struggling Australian cement industry is heavily affected by emissions taxation.
On 1 June 2011, the Northeim, Germany-based ContiTech Conveyor Belt Group took over the conveyor belt operations of Tianjin Xinbinhai Conveyor Belt Co., Ltd., Tianjin.
UltraTech Cement has reportedly signed a memorandum of understanding for the commissioning of a railway project in the Sikar and Jhunjhunu districts of India.
The country’s cement sector is likely to be aided by the construction of a new dam, expected to consume approximately 5 million tpa of the product.
Shree Cement has announced a net profit of Rs 65.79 crore for the quarter ended 31 March 2011. However, the company’s net profit for FY2011 has dropped 69%.
The leading Australian cement and lime manufacturer predicts its full year profit to be on the same level as its 2010 result.
Increased domestic demand has meant the leading cement manufacturers in Taiwan saw their sales increase by over 15% year-on-year this April.