Cement News tagged under: corporate
Cemex rises to highest in 3 weeks on US data03 December 2010, Published under Cement NewsCemex climbed to the highest level in three weeks after a report on home sales signaled a better economic outlook for the US, the company’s second-biggest source of revenue. Cemex gained 2.7 per cent to 11.79 pesos in Mexico City trading at 4:00 p.m. New York time, the highest since Nov. 8. Pending sales of existing U.S. houses unexpectedly jumped by a record 10 per cent in October. The increase in the number of Americans signing contracts to buy previously owned homes followed a 1.8 per... |
Cimpor extends maturity of debt, adds credit lines03 December 2010, Published under Cement NewsCimpor said Thursday it had extended the maturity of its debt by almost two years through several financing deals with a slew of banks. The transactions included a EUR320m syndicated loan agreed with BNP Paribas SA, Caixa Geral de Depositos, ING Groep NV and Societe Generale SA that will serve as an alternative to an existing eurobond market loan It also set up a EUR150m credit facility with Citigroup Inc and Royal Bank of Scotland Group PLC (RBS.LN), EUR110m club deal with Banco Bilbao V... |
BofA Merrill Lynch cuts Italcementi price target02 December 2010, Published under Cement NewsAnalysts at Bank of AmericaMerrill Lynch have lowered the share price target of Italian cement producer Italcementi to EUR 5.00 from EUR 5.50. |
Huaxin to buy Sanyuan Cement02 December 2010, Published under Cement NewsHuaxin Cement Co of China announced a plan to buy a cement maker in the central province of Hubei. The company will pay CNY23.8m (US$3.6m) to purchase Sanyuan Cement, reports Bloomberg. |
Paraguay looks into importing cement from Portugal02 December 2010, Published under Cement NewsThe Paraguayan Chamber of Construction (CAPAC) is studying the possibility of importing Portland cement imported from Portugal to alleviate the shortage of cement production of state cement company INC, announced an industry spokesman today. The president of CAPAC, Ana Lucy Porro, told Notimex that "we have a really sensitive time in terms of delays in the works and the danger of cutting the chain of payments just at a time for Christmas gifts and New Year." She said the current outl... |
CRH: global bond offering01 December 2010, Published under Cement NewsCRH America, Inc., a wholly owned subsidiary of CRH plc, successfully priced its fifth US$ Global bond offering yesterday afternoon in New York. The offering consists of 10-year and 5-year notes. The US$0.4bn 10-year notes were priced at a spread of 2.95% above the 10-year US Treasury and have a coupon of 5.75%. The US$0.35bn 5-year notes were priced at 2.70% above the 5-year US Treasury and have a coupon of 4.125%. Due to strong investor demand, the total offering was increased from US$0.50... |
Mixed results for Oman cement producers01 December 2010, Published under Cement NewsRaysut Cement the largest cement company in Oman reported total net profit amounted to OMR19.03m (US$49.4m) during 9M-2010 compared to OMR24.18m in 9M-2009, which is less by 21.28 per cent. Raysut Cement’s revenues declined due to growing competition from external markets such as UAE and Saudi Arabia, which reduced sales volume and the company’s realisation in domestic and export markets. Also, the average cement selling prices decline and lower production levels, reduced the company’s reven... |
Dangote Cement Pays NGN30.98bn interim dividend27 November 2010, Published under Cement NewsDangote Cement Plc, a member of the Dangote Group has announced an interim dividend of NGN30.98bn (US$206m) for the period ended September 30, 2010. The interim dividend is part of the group’s strategies of enhancing and growing shareholders’ value through consistent dividend payment. The interim dividend also fulfills the promise by the directors of the company to pay an interim dividend to shareholders. Dangote Cement is the product of a merger between Dangote Cement Plc and Benue Cemen... |
Moody’s downgrades rating on Italcementi27 November 2010, Published under Cement NewsCredit rating agency Moody’s cut to Baa3 from Baa2 the long-term ratings on cement producer Italcementi, Italcementi Finance and its French subsidiary Ciments Francais. The credit rating agency kept the "stable" outlook and cut the short-term ratings to P-3, Moody’s said. Moody’s explained the cut with weaker than expected performance of the group so far in 2010. |
Citi cuts Titan cement price target, EPS27 November 2010, Published under Cement NewsCiti cuts its price target on Titan Cement to EUR19.5 from EUR21.30 on lower EPS outlook following disappointing 3Q results. "Our EPS forecasts fall by 17% for 2010 (on one-off losses) and by a smaller 4%-10% for 2011-12. The changes reflect the Greek downturn and a slower U.S. recovery offset by better Eastern Med. As a result, our price target falls by 8% to EUR19.5," says the bank. |