Asia & Pacific Rim

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.

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.