Cement News tagged: Corporate
Emerging markets, North America drive Holcim performance
Holcim reported a rise in cement deliveries for the first nine months of 2012 supported by pricing improvements. Emerging markets continue to support growth together with stronger demand for building materials in North America, but the Europe and Middle East and Africa divisions register declines. Commenting on its results, the company said in a statement: “Holcim continues to have the adva...
Cemex prices Latam IPO, Colombia
Cemex announced it has priced shares of its Latin American unit Cemex Latam Holdings SA at COP12,250 (US$6.75) each in an offering from which it expects to receive about US$1.1bn. Cemex said it priced 170.4 million shares in the unit, which is listed on the Colombian stock exchange. Of the total shares, 148.2 million shares were sold in a public offering to investors in Colombia and in a pr...
Steppe Cement to raise GBP10m Via Underwritten Offer
Steppe Cement said Wednesday it intends to raise GBP10m (EUR12.5m) via an offer for subscription of 40 million new ordinary shares at 25 pence per share. Net proceeds of the offer are expected to be up to GBP9.67m after expenses and will be used toward the completion of the reconstruction of Dry Line 5, for general working capital requirements and, if required, to repay a portion of the compa...
Novoroscement signs financing agreement with VTB Bank
VTB Bank has signed an agreement with Novoroscement, the largest cement producer in southern Russia, to provide a RUB920m (US$29m) credit line to finance the company’s current operations. “The borrowed finds will be used to finance the current activities of the enterprise,” VTB said. The bank declined to disclose the maturity and terms of the credit line. Novoroscement has three cemen...
Vicem But Son Cement posts nine month loss
Vietnam cement producer Vicem But Son Cement JSC said it made a loss of VND65.78bn (US$3.16m) in the first nine months of this year, compared to a net profit of VND6.99bn in the same period last year. Revenues rose 1.59 per cent YoY to VND1.92trn in Jan-Sept, BTS said in its quarterly financial report. In the third quarter alone, the company suffered a loss of VND68.91bn on revenues of VND58...
Asia and US improvements boost Vicat nine month results
Vicat's turnover for the first nine months of the year edged ahead by 0.2 per cent to EUR1731m, but this represents an underlying decline of one per cent. Asian and US improvements made up for French and African volume declines. The gearing level increased to 47.6 per cent at the end of September compared with 43.4 per cent a year earlier and 40.6 per cent two years ago, with the expansio...
Dyckerhoff reports stable nine month volumes
Dyckerhoff reported stable volumes for the first nine months of 2012 as the recovery in Russia and USA almost counterbalanced declines in the other regions. Sales increases in the Eastern Europe and USA divisions also offset decrease in the Germany/Western Europe division. Germany and Western Europe fell seven per cent to EUR588m from EUR633m. Sales in Eastern Europe rose by seven per cent t...
Taiwan Cement sees higher demand and prices lifting fourth quarter
Taiwan Cement Co expects profits to rise in the fourth quarter of on the back of increasing demand and rebounding cement prices in China. TCC’s net profits in the first three quarters dropped nine per cent YoY to NT$6.002bn (US$200.01m) as it suffered from declining cement prices in China. However, with cement prices in southern and eastern China in the fourth quarter nearly 50 per cent hi...
Taiheiyo Cement sales exceed expectations, Japan
Japan’s leading cement producer Taiheiyo Cement is expected to report a 260 per cent YoY rise in consolidated pretax profit for the six months ended 30 September on earthquake rebuilding. A Nikkei report shows states that cement sales have exceeded targets due to reconstruction efforts relating to the Great Japan Earthquake in March 2011, and costs for coal have also been lower than expecte...
India Cements net profit falls 30%
India Cements Ltd on Monday said its second quarter net profit fell 30 per cent YoY to INR49.08 crore from INR69.71 crore from a year earlier. "Our profits were lower as we suffered from increased input costs due to power and fuel," N Srinivasan, vice chairman and MD of India Cements said. The company’s power and fuel costs were up 21 per cent during the quarter ending 30 September at INR3...
South Cement Co to issue short-term bills, China
South Cement Co, owned by China National Building Materials Co, has announced it plans to issue CNY1.5bn (US$240m) in short-term bills with a maturity of 365 days in the interbank market on 12 November. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date are set on 13 Nov...
Siam Cement on Vietnam acquisition trail
Siam Cement PCL is looking for an opportunity to acquire a cement business in Vietnam, Chief Executive Kan Trakulhoon according to Dow Jones reports. Cement companies in Vietnam are currently struggling with excess supply and this provides an opportunity for Siam Cement to seek a potential acquisition there, Mr Kan told reporters on the sidelines of a symposium.
Vicem Hoang Mai Cement revises down 2012 profit
Vicem Hoang Mai Cement JSC (HOM), listed on the Hanoi Stock Exchange, said it made an estimated pretax profit of VND66bn (US$3.17m) in the first 10 months of this year, according to Chief Accountant Tran Minh Son said. HOM did not give revenue figures in Jan-Sept, the Dau tu Chung khoan newspaper reported. High prices of input materials were blamed for the company’s profit fall, Son said. The...
India Cements 2Q profit falls 29.6%
India Cements, the largest cement producer in South India, reported fall of 29.59 per cent in net profit for the quarter ended September 2012 on lower margins. During the quarter, the net profit of the company fell to INR490.8m as compared with INR697.1m in the same period last year. This was lower compared to analysts' expectation of INR730m. Net sales during the quarter rose 3.12 per c...
Moody's assigns definitive Aa1 to China Resources Cement bonds
Moody's Investors Service has assigned a definitive Aa1 rating to the 5-year bonds issued by China Resources Cement Holdings Ltd. Moody's has removed the rating from provisional status upon the closing of the transaction. The rating outlook is negative.
Europe: 2012 trends and outlook
Eurostat data published earlier this week shows that August was the eighth month in a row to register YoY declines in Eurozone construction output among member states – the latest confirmation that a slowdown in overall European construction activity and cement demand shows no real signs of relenting. Figures from Eurostat show that compared with August 2011, output in August 2012 dropped 5...