Cement News tagged: Corporate
FLSmidth: minerals division gains ground
FLSmidth reported on Tuesday that revenues from its minerals division over its cement business for the first time. CEO of the Danish engineering group, Jorgen Huno Rasmussen made the comments following an order FLSmidth received for the expansion of a copper mine in South Africa. "The minerals business was bigger than the cement business in 2011 for the first time ever, and it will only get...
Quinn declared bankrupt by Dublin court, Ireland
Former Irish billionaire Sean Quinn has been made bankrupt in Dublin days after his bankruptcy in the UK was annulled by a Belfast court. Quinn’s ill-fated investment in Anglo Irish Bank just before the lender was nationalised in 2009, and the enormous debts he owes the bank, resulted in Quinn declaring himself bankrupt to a court in Belfast last November. In the UK a person declared bankrupt...
Saudi Cement 4Q11 up on higher demand
Saudi Cement Co posted a 39.7 per cent rise in its 4Q11 net profit, on higher production and demand. Net profit for the quarter reached SAR212.3m (US$56.6m) compared to SAR152m in the same period a year earlier. "The rise in the yearly and fourth quarter net profit compared to the same period a year earlier is due to the rise in production capabilities from new lines... in addition to loca...
Eastern Province net profit rises 6% per cent, Saudi Arabia
Eastern Province Cement of Saudi Arabia registered a 2011 net profit of SAR364m (US$97.1m), up six per
Dalmia Cement to acquire Assam-based company, India
Indian cement producer Dalmia Cement is to acquire a 50 per cent stake in Assam-based Calcom Cement India. Calcom is a joint venture between Vinay Cement (69 per cent stake) and Assam Industrial Development Corp (10.5 per cent) with a 20 per cent share held by DEG and FMO of the Netherlands. Calcom operates a 1Mta clinker line and 1.72Mta grinding unit in Assam, northeast India.
Exane BNP downgrades HeidelbergCement
Exane BNP Paribas has downgraded HeidelbergCements rating to “underperform” from “neutral” but raised the price target to EUR32.00 from EUR30.00. Exane analyst, Paul Roger, reduced his expectations as the result from a survery provided a negative outlook for the European region and leading indicators were weak. Europe generates about one-third of HeidelbergCement’s buisness. US infrastru...
Ciments Francais seeks to keep Sibstem advance payment
Ciments Francais said it wants to keep a EUR50m advanced payment by SibCement for Turkish cement assets which the latter did not acquire, according to local press reports. Ciments Francaise filed a suite with the Supreme Arbitration Court on 20 December to recognise a ruling by the Istanbul Arbitration Court made on 7 December 2010. Under the ruling, the French company did not have to repay...
Citigroup lowers target price for two Chinese producers
Citigroup has lowered its target price for Anhui Conch and China Resources Cement.
Cementos Portland announces two board members, Spain
Spanish cement producer Cementos Portland Valderrivas has approved the nominations of Juan Bejar
Goldman Sachs downgrades Taiwan Cement target price
The target price for Taiwan’s leading producers, Taiwan Cement Company International (TCC) has been
Xinjiang Tianshan public issue to fund six projects, China
Xinjiang Tianshan Cement Co, based in Northwestern China’s Xinjiang Uygar Autonomous region, plans to
Anhui Conch expects 80% rise in net profit, China
Anhui Conch, China’s largest cement producer by output, said today it expects to register an increase of over
High Court reinstates suspended EAPCC chiefs, Kenya
The East African Portland Cement (EAPCC) board and the managing director have been reinstated by the
CPA announces appointment of new Chief Executive, UK
Dr Diana Montgomery has been appointed as the new Chief Executive of the Construction Products Association,
Ash Grove organisational changes, USA
Ash Grove Cement Company has announced manufacturing department organisational changes
S&P downgrades West China Cement outlook
Standard & Poor's Ratings Services said today that it had revised its outlook on the long-term corporate