August 27, 2013|Jim Destefani
- Announcing fiscal first quarter results, Japanese flat glass manufacturer Nippon Sheet Glass says its architectural glass business improved in Japan and the US but was still slow in Europe. The company says prospects for architectural markets in Japan remain positive, with an increase in new housing starts from the previous year. But it warns there would be a delay before this translates into increased demand for glass products. In Europe, which represents 39% of the group’s architectural sales, economic difficulties continue to depress construction and refurbishment activity, NSG says.
- The municipality of the Leningrad district of Russia plans to build a plant for the production of float glass. Design capacity of the plant will be 5.6 million m2 of flat glass per year. Total project cost is $2.6 billion US, and construction is expected to be complete in 18 to 24 months.
- Falling global prices for zircon, rutile, and titanium dioxide hammered first-half revenue for Australian mineral sands miner Iluka Ltd (pdf). Chairman John Pizzey announced his resignation as first-half profits plunged 87 percent compared with the previous period to $34.3 million; revenue dipped 42 percent to $381 million. The company remained positive that prices for zircon would improve in the second half, saying it was experiencing some increased demand, and forecast that prices would increase going forward.
- The Supervisory Board of RHI AG granted the Managing Board approval to sign agreements with Cihan Group for the purchase of magnesite mining rights in Erzurum, Turkey. The deal includes existing production facilities. Expected purchase price is roughly €36 million.
- (IndMin.com) Indian refractories suppliers are feeling the pinch from a bumpy economy, and low consumption by the steel and cement industries are negative indicators for wider fiscal health, according to this article. Stagnating demand from key downstream industries such as steelmaking resulted in mixed results for the country’s refractory products manufacturing sector.