FLSmidth cuts year cement outlook

FLSmidth cuts year cement outlook

Danish FLSmidth HAS cut its estimate for world cement capacity growth in 2011, saying activity in India had stalled, as it met forecasts with a 4 percent fall in third-quarter profit.
FLSmidth, a global supplier of engineering and machinery to the cement and minerals industries, said on Wednesday profit was hit by weaker sales in its cement division, and helped by higher sales in its minerals machinery business. The group said it now expected the cement plant market in 2011 to grow by about 55 million tonnes of new contracted cement kiln capacity worldwide, excluding China, against an earlier forecast of 65 million.
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