GLG News by Cement Industry Experts in GLG Member Programs

Graham SmithManaging DirectorAdidome Ceramics Company Limited

Gas Industrialisation to aid Ghana's economy

August 15, 2011

Analysis of:China to help Ghana develop gas | www.upstreamonline.com

The new gas pipeline to be developed in Ghana linking the offshore Jubilee field to the Aboadze thermal plant near Takoradi, is excellent news for Ghana and its struggling energy-starved industries. Ceramic companies currently suffer from both power outages and the lack of thermal energy sources to expand their operations into being regional players.This can be the opportunity for gas-based industrialization to spur economic growth of the country to make Ghana the “South Africa” of West Africa.

Mel BuddManaging DirectorLeading Edge Management Consultancy

UK Construction Market to Fall in 2011

March 21, 2011

Analysis of:UK Construction Market Forecast 2010 - 2013 | www.lead-edge.co.uk

Our recently issued report forecasts that total GB construction output volume in 2011 will be down by 2.3% on 2010. The fall is mainly a result of a reduction in output in the public sectors as the government cuts start to bite.

Ron MusolinoPresidentRM Consulting

Is The Pain of the Housing Recession Close to Ending?

October 21, 2010

Analysis of:U.S.: Is The Housing Recession Starting To Recede? | www.businessweek.com

In a time where there's so much bad news, can we at least be comforted that the decline in home building will soon end? With all the complex issues plaguing the economy, there is no end in sight for the housing recession we are in. Serious problems, such as unavailability of financing, high foreclosures, potential tax increases and growing unemployment are all counter to a return to home construction "normalcy." It will be years before we could right ourselves and make the necessary corrections to get things going again.

Mel BuddManaging DirectorLeading Edge Management Consultancy

UK Construction Forecast 2010 - 2014

August 9, 2010

Total construction output in GB in 2010 is forecast to be £89,900m at constant 2005 prices which is 2.1% down (£2,000m) on the 2009 figure. This is fairly consistent with our January forecast where we predicted a fall of £1,700m. We expect this will be the third year in a row which has seen a fall in overall construction output.

Mel BuddManaging DirectorLeading Edge Management Consultancy

UK Construction Market Forecast 2010 - 2013

January 12, 2010

Analysis of:UK Construction Market Forecast 2010 - 2013 | www.lead-edge.co.uk

The GB construction industry forecast just issued by Leading Edge predicts a fall in total construction industry output of 1.7% in 2010 compared to 2009, giving a figure of £96.9bn at constant 2005 prices. However, the construction sector is expected to return to overall growth in 2011 although recovery will be slow.

Keith JonesPresidentMaterial Advisory Group, Inc.

Construction Materials Industry Has a Long Road to Recovery

November 25, 2009

Analysis of:Falling aggregates and cement sales points to deeper recession | www.cnplus.co.uk

The United States construction materials industry has likely finally hit bottom, but the ride down has taken its toll. Industry players in cement, ready mix, aggregates, asphalt and contracting are operating at a fraction of their usual total capacity. Stimulus funds have not flowed fast enough to be of any true benefit this construction season and the majority of these funds will rollover into 2010. The upcoming seasonal lull will have a continued negative impact on revenues and profits.

Mel BuddManaging DirectorLeading Edge Management Consultancy

Forecast for Construction in GB - Output Down by 20% to 2011

July 30, 2009

Analysis of:GB Construction Forecast 2009 -13 | www.lead-edge.co.uk

The GB construction industry forecast recently issued by Leading Edge predicts a fall in total construction industry output of 15.0% in 2009, compared to 2008, giving a figure of £93.3bn (at 2005 prices). The following two years, 2010-2011, are forecast to see a further combined fall of 5.2% in total construction output before returning to growth in 2012. However, there are marked differences in the relative performance of individual sectors over the next four years.

Allan DurningExecutive ChairmanNational Buying Group

uk building materials outlook

July 30, 2009

Analysis of:uk building materials outlook through to 2013 | www.apdltd.biz

Despite the recent comments about recovery and "green shoots" the evidence would still indicate that we have some distance to travel before the building material industry returns to the levels of volumes enjoyed in the period circa 2004-2007 pre the market crash.Strong performance in the RMI  and Infrastructure markets will help offset weak demand in the other sectors.

Keith JonesPresidentMaterial Advisory Group, Inc.

Cemex Pricing Increase Overly Optimistic

September 3, 2008

Analysis of:Cemex Hikes Cement Prices By $25 Per Cubic Yard | www.aggregateresearch.com

Cemex announced an across-the-board $25/yard price increase for ready mixed concrete for all its operations in the U.S.  This increase is an overly simplistic plan for improving the profitability of the company in the U.S.  Cemex ignores the economics of supply and demand and the specific dynamics of each of its markets by attempting this overall increase. Even if one were to give Cemex credit for attempting to be the market leader in ready mix concrete, a price hike does nothing to change the existing market conditions in each market.  Demand will not increase in any given market nor will this price increase reduce demand.  The end result will be to drive existing Cemex customers to other ready mix producers that are competitors in each market.  These competitors will price ready mix, in actuality just a commodity, below Cemex to get the sale.  Consumers in the market are more driven by price than company loyalty.  This same price consciousness can also overcome customer service.

Keith JonesPresidentMaterial Advisory Group, Inc.

Multinational Cement Companies Continue Consolidation

September 3, 2008

Analysis of:Europe Slowdown Could Crumble Cement Makers | www.forbes.com

Acquisitions within the construction materials industry have continued in strong fashion, with multinational cement producers leading the way.  Bigger and bigger deals are being put together by the world's largest cement producers, both in the U.S. and abroad.  These producers are locked in a battle to become ever larger and diversified to keep pace with their competitors.   The U.S. is in a downward construction cycle, creating large reductions in tonnage volumes for most producers in the U.S., both domestic and foreign.  The lack of supply in many markets and the logistics of transporting these products have worked to maintain strong pricing increases.  These pricing increases have almost offset tonnage reductions to kept revenues and profits level or only slightly reduced. Whether these same conditions will carryover into other markets around the world are yet to be seen.  The reduction in share price of these public companies though will only fuel continued consolidation.

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