Cement News tagged: Corporate
Steppe 3Q12 revenue increases, revises Kazakhstan demand outlook upwards
Kazakhstan-based producer Steppe Cement Ltd said 3Q12 revenue of KZT7.23bn (US$48m) was 28 per cent higher than the corresponding quarter in 2011 and has revised the demand outlook for the Kazakhstan market upwards for full year 2012. For the nine months ended 30 Setptember, Steppe Cement recorded revenue of KZT14.96bn compared with KZT11.93bn in the corresponding nine month period in 2011,...
Sichuan Shuangma Cement expects net loss in 9M12, China
Sichuan Shuangma Cement Co Ltd, a Shenzhen-listed producer and distributor of cement, said that it will post a net loss of CNY5m to CNY10m (US$0.8m-1.6m) in the first three quarters of 2012, compared with a net profit of CNY 123m in the same period of 2011.
Cemex interested in investing in INC
Industria Nacional de Cemento, has reported that Mexican cement giant Cemex has expressed an interest in investing in the Paraguayan state-owned producer. According to INC’s head, Carlos Krüssel, Cemex would transfer its technology to and possibly invest in INC. Mr Krüssel just completed a visit to a Cemex plant in Mexico to learn about Cemex’s plants and their experience in the provision ...
Saudi Cement 3Q12 net profit rises, Saudi Arabia
Saudi Cement Co reported a 7.3 percent increase in quarterly profits on higher domestic sales, Reuters reported. The company said it made US$56m net profit during the third quarter, up from US$51.9m a year ago. The company said local demand for cement and clinker grew in the July-September period. Saudi Arabia is witnessing big developments driven by the government's strategy diversify its e...
Siam Cement sells bonds, Thailand
Siam Cement PCL, Thailand's largest industrial conglomerate by sales, Monday said it has sold a THB6.5bn (US$211.6m) seven-year bond to institutional investors. Upon issuance, Siam Cement will have THB126.5bn in outstanding bonds, the company said in a filing to the Stock Exchange of Thailand. The seven-year bond will have a coupon of 4.40 per cent, the company said in a separate filing to t...
FCC gives cement unit EUR100m loan
Spanish builder FCC said on Thursday it has given its Cementos Portland unit a EUR100m (US$129m) transitory loan as part of the cement arm's refinancing agreement with its creditors. Separately, Cementos Portland said it may consider following through with capital hike plans in 2013 if market conditions are suitable (Source: Reuters)
PPC appoints Ketso Gordhan as CEO, South Africa
The board of directors of PPC has announced the appointment of Mr Ketso Gordhan to the Board as Chief Executive Officer Designate from 1 November 2012. He will succeed Mr. Paul Stuiver as Chief executive Officer from 1 January 2013. PPC Group Chairman, Bheki Sibiya, commented: "While earlier this year we extended the time frame to finalise the process for appointing the new CEO we believe i...
ArcelorMittal chief to bid for Lafarge/Tarmac assets, UK - report
Chairman and CEO of global steel giant ArcelorMittal, Laskshmi Mittal, is reportedly bidding for assets put up for sale by Anglo American and Lafarge UK, according to reports by Sky News. Mr Mittal, whose wealth was estimated at £12.7bn, is said to be bidding for the assets which have been ordered to be sold by the UK’s Competition Commission as a pre-condition for the completion of the Tar...
Lafarge Malayan Cement leads on analyst revisions
Lafarge Malayan Cement leads on analyst revisions among 12 companies in the Malaysian materials sector tracked by at least three analysts, data from Thomson Reuters StarMine shows. The company has an Analyst Revision Model (ARM) score of 94, the highest in the sector. It also has above-average Value Momentum (Val-Mo) and Earnings Quality (EQ) scores of 75 and 81 respectively. A high Smartho...
CRH announces termination of negotiations in India
CRH plc announced that it has terminated negotiations with Indian cement producer Jaypee Cement Corporation (Jaypee) regarding the possible purchase by CRH of an equity stake in Jaypee’s Gujarat cement business. CRH said these negotiations were terminated as the parties were unable to agree terms. The Irish-based building materials major said that it acknowledges the co-operation of the Jayp...
Seacem in voluntary buy back offer, Philippines
Southeast Asia Cement Holdings Inc (Seacem) is launching a voluntary tender offer to buy back up to 93 percent of its shares in exchange for a mix of shares in its majority-owned subsidiary Lafarge Republic Inc. (LRI) and cash. Based on its disclosure to the Philippine Stock Exchange (PSE) on Monday, the board of Seacem approved the buyback of a total of 989.34 million shares in exchange...
Nalanda Capital cuts stake in Shree Cement, India
Nalanda Capital has sold around half of its holding (3.25%) in Shree Cement. The fund sold around 1.61 per cent or 561316 shares for INR3800.84 per share, aggregating around INR213.33 crore through bulk deal on the Bombay Stock Exchange. Nalanda Capital made around 2x returns from this share sale. It invested in the company between June and September 2011 when the prices were hovering be...
Southern Province Cement 3Q12 up 11.7 per cent, Saudi Arabia
Saudi Southern Province Cement Company said on Sunday its third-quarter net profit rose by 11.7 percent over last year's figure due to higher local demand. The company said net earnings were SAR201m (US$56m) in the three months to Septebmber 30, compared to SAR180m in the third quarter of last year. The results were 23-percent below that of the second quarter, a decline the company attrib...
Cyprus Cement to examine restructuring plan
The Board of Directors of Cyprus Cement Company Public Ltd announces that it will meet on Wednesday, October 17, 2012 to examine the restructuring plan of the existing corporate structure of the Group to create a more flexible group, reflecting the sectors in which it is actively involved.
Construction held by challenging macroeconomic environment
A recent research note by analysts at CM-CIC Securities sees four main themes for the global construction sector in light of a prevailing harsh macroeconomic environment. While diverse trends are being witnessed in the US and Europe and emerging markets are expected to see a slowdown in growth, a turning point could be reached in 2012-13 in terms of margins. Taking a historical look, the Fr...
Caribbean Cement looks to Venezuela contract to revive sales
Caribbean Cement Company Ltd (CCCL) is hoping a new supply agreement with Venezuela will revive sales but fears elections will impede the deal, according to reports in the Jamaican Gleaner. The cement supply deal is being negotiated under the crude for commodities component of the PetroCaribe agreement between Jamaica and Venezuela, which allows for part-payment of oil with goods. In June, Ca...