20 July 2015
Ramadoss alleges Amma cement scam 20 July 2015
India: PMK founder S Ramadoss has rebuked the Tamil Nadu government over its recent statement that Tamil Nadu Cements Corporation has sold 10m bags of Amma cement, benefiting 133,000 families, according to the Times of India.
Amma cement has been sold through 470 warehouses or godowns in Tamil Nadu from 10 January 2015. "Jayalalithaa Jayaram (chief minister of Tamil Nadu) announced that 200,000/month of cement is being procured from private cement manufacturers and sold through government godowns for US$2.99/bag. As per this announcement, the government should have procured 1.25Mt or 25m bags of cement. Since the prices of Amma cement are low, they should have sold like hot cakes," said Ramadoss. He added that the government statement means that only 40% of the procured cement has been sold so far.
Ramadoss alleged that those who approach the government cement godowns to purchase Amma cement are often driven away. "Tokens are issued for those who want to purchase Amma cement and about 100,000 people who got tokens are awaiting supply. If the Tamil Nadu government actually procured 200,000t/month then all those who applied for cement should have been served," said Ramadoss. He said that the only reason for this not to have happened was either that the amount of cement claimed by the government was not procured, or the procured cement was sold to the black market.
Ramadoss has demanded that the government of Tamil Nadu publish a white paper on the total amount of cement procured, the amount of cement sold and measures taken to ensure seamless supply of cement.
Shiva Cement's cement dispatches up by 16% 20 July 2015
India: Shiva Cement's dispatches of cement and clinker in the April – June 2015 quarter rose by 16% year-on-year, according to MoneyControl.
LafargeHolcim won’t sell additional assets 20 July 2015
World: LafargeHolcim will not sell any additional assets, except for those that were negotiated with the European Commission (EC) in order to approve their merger, according to French Collection. The combined group hopes to complete its overall integration by the end of 2016.
ACC struggles amid rising costs 20 July 2015
India: Rising costs have reduced ACC's profit substantially in the April – June 2015 quarter, despite its revenues meeting expectations.
In spite of selling more cement, ACC's net realisation fell by 3% compared to the January - March 2015 quarter and was also slightly lower year-on-year. The fall was attributed to low cement prices in the June 2015 quarter, which is normally robust considering the fast-paced pre-monsoon activity, as well as a significant rise in operating cost per tonne. ACC's June quarter performance reflects the trend of cost pressures and weak realisations across the sector.
Holcim France becomes Orsima with CRH buyout 20 July 2015
France: Holcim's French subsidiary will be renamed Orsima on 1 August 2015, according to Le Moniteur. The change comes at a time when the assets have been purchased by CRH as part of the LafargeHolcim merger. The businesses of Cement Orsima, Orsima Concrete and Aggregates Orsima will be used legally and commercially.
With the acquisition, CRH becomes the third-largest cement producer in France with about 15% of the market share. The assets include three cement plants (Holcim Lumbres, Héming and Rochefort-sur-Nenon), four grinding plants (Grand-Couronne, Dannes, Dunkirk and La Rochelle), a mixing station in Montoir-de-Bretagne, Loire-Atlantique and 170 concrete plants and aggregates sites (LafargeHolcim will retain eleven in Haut-Rhin Department).