Cement News tagged under: corporate
Cemex climbs most in 2 weeks as US shows improved outlook19 November 2010, Published under Cement NewsCemex, the largest cement maker in the Americas, climbed the most in two weeks after reports on manufacturing and jobless claims in the U.S. signaled an improved economic outlook. Cemex gained 2.2 percent to 11.35 pesos in Mexico City trading at 1:21 p.m. New York time, the biggest jump since Nov. 4. The shares have advanced 4.9 percent this month. The U.S. Labor Department reported initial jobless claims increased less than forecast by 439,000 in the week ended Nov. 13. Manufacturing in... |
Goldman Sachs cuts Holcim price target17 November 2010, Published under Cement NewsGoldman Sachs cuts its Holcim price target to CHF72.40 from CHF78.70. The bank has also cut the cement maker’s earnings per share estimates to CHF3.41 from CHF4.62, and for 2011 to CHF4.40 from CHF5.54 |
Vicat constructs new USPP deal16 November 2010, Published under Cement NewsCredit Agricole and HSBC Securities today launched a private bond deal for French cement company Vicat S.A., sources familiar with the transaction confirmed. The transaction has US$150m on the cover, and the company is looking for maturities of seven-, 10- and 12-years. Bids on the deal are expected to circle the week of Nov. 29. The company is an NAIC-2 issuer. Vicat last came to the U.S. private placement market in 2003, raising US$400m via Credit Lyonnais (which was acquired by Credit A... |
New Member of the Senior Management of Holcim15 November 2010, Published under Cement NewsUrs Fankhauser, currently Regional Technical Director Eastern Europe, has been appointed Area Manager and member of the senior management of Holcim Ltd as per January 1, 2011. In this function, he is responsible for the markets in Eastern and Southeastern Europe. He reports directly to Executive Committee member Urs Böhlen. |
Athi River Mining nine-month pretax profit up, Kenya12 November 2010, Published under Cement NewsAthi River Mining, Kenya’s third-largest cement company, said the market remained buoyant when reporting a 12.6 per cent rise in nine-month pretax profit. "Going forward, the company expects margins to improve in the cement business with the increase in capacity," ARM said on Friday. January-September pretax profit rose to KES762m (US$9.5m), helped by 16 per cent higher revenue. Earnings per share rose 15 per cent to KES6.98. Strong growth in construction – 18 per cent in the second quar... |
Centrobanca cuts Cementir rating, price target09 November 2010, Published under Cement NewsBrokerage Centrobanca cut its share price target on Italian cement maker Cementir Holding to EUR2.54 from EUR 2.80, also lowering the rating to "hold" from "buy". Cementir reported last week a 27.4% drop in the nine-month pre-tax profit and a 33.7% slump in the third-quarter pre-tax profit. |
Kuwait Cement profit drops09 November 2010, Published under Cement NewsKuwait Cement Company said in a bourse filing on Sunday it had booked a net profit of KWD11.29m (US$40.3m) for the nine months ended September 2010, down from KWD14.94m a year earlier. The cement producer reported earnings per share (EPS) of 19.16 fils, a decrease from 25.35 fils. For the third quarter of 2010, the company’s net profit stood at KWD2.48m, compared with KWD2.62m in the same period last year. The total assets rose to KWD260m at end-September 2010 from KWD250.8m a year ago. |
Ambuja soars on merger talks with ACC09 November 2010, Published under Cement NewsBuzz about a merger between ACC and Ambuja Cements, both promoted by Holcim, was back on, and the word was that the union would be in favour of Ambuja Cements shareholders. Ambuja has a better cash-to-debt ratio than ACC in December. Following the market talk, shares of Ambuja Cements soared 7.73 per cent, or Rs 11.70, to Rs 163.10 on BSE, and ACC rose 2.41 per cent, or Rs 26.25, to Rs 1,115.25 on a day when Sensex fell 152.58 points, or 0.73 per cent, to 20,852.38. A company insider said:... |
Ludwig Merckle raises stake in HeidelbergCement08 November 2010, Published under Cement NewsLudwig Merckle, the son of late billionaire Adolf Merckle, has regained a blocking minority stake in cement maker HeidelbergCement, securing protection against hostile takeover bids. Merckle’s shareholding exceeded the threshold of 25%, after the Merckle family had disposed of a major part of its stake following dramatic financial blows in the crisis. Merckle said the repurchase of shares underscores his long-term plans for the company. Merckle does not plan to buy more shares in the next ... |
Lafarge third-quarter profit slips05 November 2010, Published under Cement NewsLafarge SA on Friday reported its third-quarter net profit slipped eight per cent amid a sluggish recovery in developed markets. Lafarge said net profit in the three months ended Sept. 30 fell to €372m from €404m in the same period a year earlier. Sales rose 6% to €4.5bn from €4.25bn a year earlier as the company consolidated new assets in Brazil. The company said that based on demand trends seen through the third quarter, it has maintained its overall growth estimates in its markets and e... |