Cement News tagged under: corporate
Fitch downgrades Binani outlook27 November 2010, Published under Cement NewsFitch Ratings has today revised the outlook on India’s Binani Cement (BCL) National Long-term rating to negative from stable, and simultaneously affirmed the rating at `A(ind)`. |
Dangote Cement pays interim dividend26 November 2010, Published under Cement NewsDangote Cement Plc, a member of the Dangote Group, has announced an interim dividend of N30.98bn for the period ended September 30. The interim dividend is part of the group’s strategies of enhancing and growing shareholders’ value through consistent dividend payment. It also fulfills the promise by the directors of the company to pay an interim dividend to shareholders. Dangote Cement resulted from the merger between Dangote Cement and Benue Cement Company (BCC). The merger created the bi... |
Asia Cement Invests in China’s Sunnsy Group25 November 2010, Published under Cement NewsAsia Cement Corporation, one of Taiwan’s leading cement producers, recently announced it has signed, through its subsidiary—Asia Cement (China) Holdings Corp, Hong Kong, a memorandum of understanding (MOU) with Sunnsy Group of China to acquire a 30 per cent stake of the group’s subsidiaries in northeastern China and Inner Mongolia. Sunnsy Group is reportedly the largest cement conglomerate in Shandong province and has recently tapped such markets of Liaoning province of northeastern China, ... |
Tokyo Cement records commendable growth25 November 2010, Published under Cement NewsSri Lanka’s Tokyo Cement Group for six months ended September 30 2010 recorded a pre tax profit of INR537.3m as against INR69.5m for the same period previous year. Post tax profit was INR514.9m as against INR60.5m for the same periods previous year; a growth of 750 per cent. Although the demand for cement was sluggish for the most of the period under review, the Group continued to supply cement to most domestic mega projects. The Group imports its raw materials using its own ships which resu... |
Fitch downgrades Binani Cement’s outlook to negative24 November 2010, Published under Cement NewsFitch Ratings has today revised the outlook on India’s Binani Cement (BCL) National Long-term rating to negative from stable, and simultaneously affirmed the rating at ’A(ind)’. The agency has also affirmed the ratings on BCL`s instruments, as follows: - INR11,948.8m long-term loans (enhanced from INR9448.8m): ’A(ind)’; - INR600m cash credit limits: ’A(ind)’; and - INR2510m non-fund based working capital limits: ’F1(ind)’. The outlook revision reflects increased risks stemming from th... |
Italy: Credit Suisse cuts Buzzi Unicem, Italcementi estimates24 November 2010, Published under Cement NewsSwiss bank Credit Suisse revised down on Tuesday the earnings-per-share (EPS) estimates and share price targets on Italian cement producers Buzzi Unicem and Italcementi after disappointing third-quarter results. The bank kept the stock ratings on the two producers at “outperform” and “neutral”, respectively. Italcementi’s share price target was reduced to €5.00 from €6.00 and the EPS estimates for 2010, 2011 and 2012 were cut by an average 46 per cent to €0.10 from €0.35, to €0.30 from €0.5... |
Dangote Cement plans London GDR issue24 November 2010, Published under Cement NewsNigeria’s biggest cement maker Dangote Cement will issue global depository receipts (GDR) to be listed on the London Stock Exchange next year, its chairman Aliko Dangote told Reuters on Tuesday. "We have actually made up our mind to do a GDR here in London. The structure is much better for us, it’s a market we understand very well," Dangote said in an interview. "We have to do it in stages, where we do a GDR first, then we will list going forward on the main market. We have an internal tar... |
Titan boosted by Albania24 November 2010, Published under Cement NewsTitan’s turnover for the first nine months of 2010 declined by 1.7 per cent to €1028.5m while the EBITDA edged ahead by 0.9 per cent to €260.3m. There was a €9.2m benefit from the sale of emission rights in the period. With both depreciation and interest charges rising as a result of the investments in Egypt an Albania, the pre-tax profit came off by 7.5 per cent to €118.5m but the reduction at the net attributable level was contained at 5.2 per cent to €98.3m. Net debt at the end of Septemb... |
China Shuangji Cement, Ltd announces Third Quarter 2010 results23 November 2010, Published under Cement NewsChina Shuangji Cement, Ltd a leading producer of high-quality Portland cement in Shandong and Hainan Provinces in the People’s Republic of China (PRC), announced its financial results for the third quarter ended September 30, 2010. "We experienced higher revenues in the third quarter due to an increase in cement sales to 361,562t from 329,832t in the same period last year. We also experienced strong margins from an increase in the average unit price of our cement, which was greater than the... |
India: Burnpur Cement Ltd - outcome of board meeting23 November 2010, Published under Cement NewsBurnpur Cement Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 22, 2010, inter alia, passed and approved the following resolutions: 1. To issue 2 Cores Convertible warrants to part finance the ongoing setting up of cement plant at Patrata, Jharkhand. 2. Permission granted for borrowing of money upto INR225 Crores. 3. For approval of shareholders in the EGM regarding above matters the Board called an Extra Ordinary General Meeting on December 2... |