Asia & Pacific Rim

The Cement Manufacturers Association of India has signed a wage agreement for 20 companies representing about two thirds of the country’s cement capacity.

A round-up of some of this week’s key news items from the international cement industry, from the latest construction outlooks to recent projects and developments.

A new study from the Freedonia Group, Construction Outlook in China, indicates Chinese construction expenditures will rise 7.8% annually.

Bestway Cement signs MoU with NUST Institute of Civil Engineering for research and development on innovative cement solutions for construction in Pakistan.

Indian cement company Shree Cement has reported a 62% drop in net profit for the quarter ending 30 June.

Prism Cement, India, reported a net loss of Rs.8.04 crore for the quarter ending 30 June.

UNTHA shredding designed a total solution for the project, which will provide alternative fuels for Holcim Vietnam.

Semen Gresik is aiming to cement relations with its distributors, as regional competition heats up.

The group sold 12.95 million t of cement and clinker in 1H15 and is optimistic for the full year.

India’s JK Cement has recorded a 99.6% drop in net profit for the quarter ending 30 June.

A Timetric Construction Intelligence Centre report report shows that Asia-Pacific will invest over US$2.86 trillion in road and railway projects in the near future.

Positive economic developments are set to boost China’s weakened construction industry in the next few years, according to Timetric.

More details on the acquisition of Italian cement company Italcementi by HeidelbergCement, which will make HeidelbergCement the world’s second biggest cement producer.

German cement company HeidelbergCement has announced that it will acquire a 45% shareholding in Italian cement producer, Italcementi.

Weak demand and poor sales prices led to a decline in 2Q15 net profit after tax.