Cement News tagged under: corporate
HeidelbergCement: plans measures to improve cash flow11 January 2011, Published under Cement NewsHeidelbergCement announced the launch of its new three-year financial and operational excellence programme: “FOX 2013”. During the next three years, the company aims to achieve total cumulated cash savings of EUR600m. Therein included are P&L effective financing and operational cost savings of EUR 200m in 2013. “The continued and consistent focus on cash and cost is a key success factor of our company strategy,” explains Dr. Bernd Scheifele, CEO of HeidelbergCement. “Building on our ... |
Saudi Arabia: Yamama Cement profits rises 10 per cent10 January 2011, Published under Cement NewsYamama Cement posted a 10 per cent increase in its fourth quarter net profits, the company said in a bourse statement on Saturday. Yamama made SAR160m (US$42.7m) in the three months ending December, compared to SAR145m in the same period a year earlier, the statement said. Operating profit for the fourth quarter increased by 11 per cent to SAR166m. Saudi Cement companies are still faced with an export ban imposed in 2008 after cement prices skyrocketed as firms were seeking more lucrative o... |
Indonesia Semen Baturaja to sell 30 per cent stake via IPO-official10 January 2011, Published under Cement NewsP T Semen Baturaja, an Indonesian state-owned cement maker, plans to sell a stake of about 30 per cent via initial public offering in the first half this year to finance capital expenditure, said Pandu Djajanto, the deputy minister for privatisation at the state enterprises ministry on Monday. |
Tasek Corp CEO resigns, Malaysia07 January 2011, Published under Cement NewsTasek Corp Bhd says its chief executive officer Gan Boon Ting has resigned effective from today. In a filing to Bursa Malaysia yesterday, the company said Gan submitted his resignation letter yesterday. Pending further announcement, Tasek executive director Ting Sii Tien will be acting group chief executive. |
Titan Cement secures EUR585m syndicated credit facility07 January 2011, Published under Cement NewsGreece’s Titan Cement said Friday it has secured a EUR585m syndicated multi-currency forward start revolving credit facility. "Titan Global Finance, a subsidiary of the group, executed on January 5, 2011 in London a new EUR585m multicurrency forward start syndicated revolving credit facility, guaranteed by Titan Cement," the company said in a statement. The new facility will mature January 2015 and will be used for refinancing an existing facility of the same nature maturing April 2012 a... |
Dangote capitalisation hits NGN2.1trn06 January 2011, Published under Cement NewsCompanies under the Dangote Group listed on the Nigerian Stock Exchange (NSE) closed 2010 with a market capitalisation of NGN2.15trn (US$13.78bn), just as President and Chief Executive of the Group, Alhaji Aliko Dangote, has assured that the companies would continue to strive to ensure good returns for shareholders. Market capitalisation is the number value of the shares of company multiplied by the current price of the shares. THISDAY checks revealed that the NGN2.152trn is the value of th... |
Cemex says it made US$100m debt prepayment05 January 2011, Published under Cement NewsCemex said Tuesday that it made a US$100m voluntary prepayment on refinanced debt last month, reducing the amount it has to amortisze in June 2012. With the Dec. 15 prepayment of the US$100m, Cemex said in a filing with the U.S. Securities and Exchange Commission, it has reduced by US$5.3bn the level of debt under its 2009 financing agreement, when the company rescheduled US$15bn in mostly bank debt in the midst of the global economic crisis. Following the payment, Cemex’s indebtedness unde... |
Oman’s Raysut Cement completes Pioneer acquisition, UAE05 January 2011, Published under Cement NewsOman’s Raysut Cement Company has acquired the United Arab Emirates’ (UAE) Pioneer Cement for US$172m. Pioneer Cement is a joint venture set up between Ras Al Khaimah Investment Authority and Penna Global Investments for US$172m. The company announced in a filing to Muscat bourse, that, "This would strengthen the marketing, technical and financial capability of (Raysut) to face the newer challenges in the coming years. With all these growth stories and those which are still to come in future... |
CRH second-half development update05 January 2011, Published under Cement NewsCRH announces second-half 2010 development initiatives of €0.37bn bringing total 2010 acquisition and investment spend to €0.54bn. CRH plc, the international building materials group, today announces 17 development initiatives totalling €367 million undertaken during the second half of 2010. These initiatives, together with 14 acquisition and investment transactions completed in the first half of 2010 and deferred acquisition payments arising in respect of prior years’ acquisitions, bring t... |
Cemex sells US$1bn in seven-year bonds05 January 2011, Published under Cement NewsCemex sold US$1bn in seven-year bonds at a yield of 9.125 per cent on Tuesday, IFR said, to help pay 2012 debt and avoid a repayment bottleneck. Cemex said earlier on Tuesday in a filing with the U.S. Securities and Exchange Commission it was offering a "private placement ... sold only to qualified institutional buyers and to offshore investors." In a separate SEC filing, Monterrey-based Cemex, one of Latin America’s top publicly-traded companies, said it won approval from its bankers last... |