Cement News tagged under: corporate
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... |
Ashaka nine-month net profit up, Nigeria03 November 2010, Published under Cement NewsNigeria’s Ashaka Cement said on Tuesday its pre-tax profit rose 54 per cent to NGN2.73bn (US$18m) in the nine months to September. Turnover at Ashaka, a subsidiary of the world’s biggest cement maker Lafarge, rose seven per cent to NGN13.8bn during the period, the firm said in a filing with the Nigerian Stock Exchange (NSE). |
West China Cement raises US$179m through IPO02 November 2010, Published under Cement NewsWest China Cement Limited (WCC), a cement producer in the Shaanxi province of Western China, has raised HK$1.39bn (US$179m) through its initial public offering on the Hong Kong Stock Exchange with a Rule 144A/Regulation S global offering. WCC was previously listed on London’s Aim (Alternative Investment Market) and the offering was made simultaneously with a delisting from Aim. This is the first time for a Chinese issuer to transfer its listing from London to Hong Kong. |
UBS retains “buy” recommendation on Heidelberg02 November 2010, Published under Cement NewsUBS today retained the "buy" recommendation on HeidelbergCement. The focus will be put mainly on the price development, analyst Mark Stockdale said. The company’s quarterly figures will be satisfying, boosted by the implemented cost reductions, the analyst added. According to him, HeidelbergCement will book a 0.80% decrease in EBITDA to EUR 764m. UBS’s "buy" recommendation means that a company’s price gains and dividend payout will be higher by at least 6% than the expected market return i... |
Ha Tien 1 reports loss, Vietnam02 November 2010, Published under Cement NewsHa Tien 1 Cement JSC (HT1), listed on the Hochiminh Stock Exchange, said it made a loss of VND22.34bn in the third quarter. Its revenues rose 18% YoY to VND1.136trn during the period, the Thoi bao Kinh te newspaper reported. The firm attributed the high prices of imported clinker, coal and diesel to the loss. In the first half of this year, HT1 made a net profit of VND104.92bn on revenues of VND1.842trn, rising 35.06% and 43.01% from a year earlier, respectively. HT1, completing the acq... |
Shareholders increase stake in Tangshang Jidong Cement02 November 2010, Published under Cement NewsJidong Development Group increased its stake in Tangshan Jidong Cement of China by 7.764 million shares or 0.64 percent of its total share capital in the last six months, reports 163.com, citing a company announcement. Jidong Development Group held a total of 502 million shares in Tangshan Jidong Cement as of October 29, accounting for 41.42 per cent of the total. |
Oman’s Raysut to raise debt to finance UAE purchase02 November 2010, Published under Cement NewsOman’s Raysut Cement Company (RCC) said it is studying a number of offers it received from banks proposing to finance its planned acquisition of United Arab Emirates’ Pioneer Cement Industries. The acquisition aims to boost ’s capacity and to "enhance its leadership role locally and regionally as major player in the region," RCC said in a statement posted on the Muscat bourse website. The move is "in line with [RCC’s] future strategies and efforts to increase its shares in export markets... |