Cement News tagged under: corporate
Shuangma Cement 2010 net profit forecast05 January 2011, Published under Cement NewsSichuan Shuangma Cement adjusted its 2010 net profit estimate, forecasting that 2010 net profit will drop by between 82.4 and 84.3 per cent YoY to between CNY33m and CNY37m (US$5m - US$5.6m). The company had previously predicted that it will record 2010 net profit of about CNY53m. According to the company, the lower forecast was due to the provision for impairment losses of CNY28m due to the permanent closure of its No. 6 production line and its branch in Mianyang, Sichuan province. |
Shuangma Cement 2010 net profit forecast05 January 2011, Published under Cement NewsSichuan Shuangma Cement adjusted its 2010 net profit estimate, forecasting that 2010 net profit will drop by between 82.4 and 84.3 per cent YoY to between CNY33m and CNY37m (US$5m - US$5.6m). The company had previously predicted that it will record 2010 net profit of about CNY53m. According to the company, the lower forecast was due to the provision for impairment losses of CNY28m due to the permanent closure of its No. 6 production line and its branch in Mianyang, Sichuan province. |
Shree Cement to increase coal imports03 January 2011, Published under Cement NewsShree Cement Ltd. may buy 3.5Mt of imported thermal coal for delivery in the year ending March 2012, India Coal Market Watch reported, citing an unidentified company official. The Kolkata, India-based cement maker currently consumes 2Mt of thermal coal for its power plant and cement manufacture, and 1.2Mt of petroleum coke. The company may replace 400,000t of coke with thermal coal because of high coke prices, it said. Meanwhile, UltraTech Cement, a unit of India’s Aditya Birla Group, has r... |
Foreign investor in Huaxin Cement share buy03 January 2011, Published under Cement NewsHuaxin Cement Company, China has announced that its foreign shareholder Gaoling Fund, bought an additional 155,300 US dollar denominated B shares or a 0.04% stake in the company through the trading platform of the Shanghai Stock Exchange on December 28. After the deal, Gaoling Fund lifted its ownership in Huaxin Cement to 5.01% or 20.220347 million shares from 4.97%, according to the Wuhan-based cement and concrete maker. Gaoling Fund said that it intended to continue the share purchase in... |
Raysut plans for Pioneer deal03 January 2011, Published under Cement NewsRaysut Cement Company, Oman’s largest producer, is pushing ahead with a US$172m deal to buy a UAE competitor. The acquisition of Pioneer Cement, a joint venture set up between Ras al Khaimah Investment Authority and Penna Global Investments, is being financed by a consortium of banks led by Bank Dhofar of Oman, Raysut said 3rd January, in a filing to the Muscat Securities Market. Analysts at Global Investment House in Kuwait last month downgraded Raysut’s stock to "reduce", citing increasin... |
Vietnam Cong Thanh Cement sells bonds03 January 2011, Published under Cement NewsCong Thanh Joint Stock Company sold VND1.5 trillion (US$76.92m) worth of long-term secured corporate bonds in the domestic market on December 24 to raise fund for its cement project. The eight-year bonds have floating yields that are adjusted every three months. Vietinbank Securities JSC (CTS) helped arrange and underwrite the bond issuance, CTS said on its website. The Ho Chi Minh City-based company will use the proceeds to finance the second production line of Cong Thanh cement plant with... |
Bharathi Cement announces second line start-up31 December 2010, Published under Cement NewsBharathi Cement has announced that Line No.2 at its Andhra Pradesh works in India has started production as per the original schedule in December 2010 pushing up capacity from 2.5Mta to 5.0Mta. The plant has a reported 100 years of limestone reserves. The plant is directly linked to the national rail & road network and will supply to the markets of Andhra Pradesh, Tamilnadu, Karnataka, Kerala, Maharashtra, Goa, Pondicherry and Andaman & Nicobar. Bharathi Cement, a VICAT subsidiary, at pres... |
ABC firms up sales contracts in lime31 December 2010, Published under Cement NewsAustralia’s Adelaide Brighton Cement has resolved some of the uncertainty surrounding its major sales contracts in lime and cement. Firstly the deal to supply lime to a local alumina producer covers supply for at least the next five years and is now effective from July 1 next year. "This is a positive outcome for Adelaide Brighton and we are confident that with our competitive pricing the company will supply the overwhelming majority of the lime requirements of this major alumina customer d... |
Yanbu Cement Q4 results show promise31 December 2010, Published under Cement NewsSaudi Arabian producer, Yanbu Cement posted a 23% rise in net profit for the fourth quarter compared to the same period last year and 7.4% up against the third quarter, though full-year results saw the company slide against 2009. Yanbu saw after-tax gains rise to SAR 101 million compared to SAR 82 million last year and SAR 94 million in the previous quarter. Gross profit rose to SAR 111 million and operating profit hit SAR 104 million, up 32.1% and 35.1% respectively against 2009. Yanbu C... |
Cementos Argos share price falls30 December 2010, Published under Cement NewsCementos Argos SA dropped 1.4 per cent to 11,600 pesos. Colombia’s biggest cement maker fell for a second day after Colombia’s economy expanded less than forecast in the third quarter from a year earlier as construction activity declined 10.5 percent. Inversiones Argos SA the owner of Cementos Argos, fell 1.6 per cent to 20,360 pesos, the biggest drop since Nov. 16 – reports Bloomberg. |