Cement News tagged under: corporate
Adelaide Brighton appoints new director26 July 2010, Published under Cement NewsCement and lime producer Adelaide Brighton Ltd has appointed Ken Scott-Mackenzie as a non-executive director. Mr Scott-Mackenzie has also been appointed to the company’s independent directors committee. He has over 35 years’ experience in infrastructure, construction and mining services gained in Australia and South Africa, as well as extensive experience in financial, legal and commercial aspects of projects. He is also chairman of Macmahon Holdings Ltd and a member of the federal governm... |
Chile: Votorantim raises capital by US$500m23 July 2010, Published under Cement NewsVotorantim Andina, with a presence in the mining and cement business in Chile, is issuing 500m shares priced each US$1, raising its capital to US$1.258mil, according to the application files in the securities commission SVS. A larger capital is needed to finance the investments planned over the next years, explains manager Francisco Wilson. Since 2007 Votorantim has zinc mining operations, and also control on the copper mine Ivan; it has 15% on Cementos Bio Bio. |
Chettinad Cement Board to consider Final Dividend for 2009-10??23 July 2010, Published under Cement NewsChettinad Cement Corporation Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 27, 2010, to consider recommendation of Final Dividend for the Financial year 2009-10. |
West China profits 69% higher23 July 2010, Published under Cement NewsWest China Cement reports that net profit for the four months ended 30 April 2010 were 69.9% higher at CNY154.3m (US$22.8m) and it is forecasting that the profit attributable to the shareholders will be not less than CNY307m for the six months to 30 June 2010. The company says that it plans to further expand its production capacity through acquisition of additional production facilities and construction of new production facilities. Management plan to construct two new production lines... |
Jaiprakash Associates reports 1Q growth, India23 July 2010, Published under Cement NewsJaiprakash Associates Limited (JAL) has announced growth in its first quarter FY11 numbers primarily led by good performance in cement and engineering businesses. Total revenue for the first quarter ended June 30, 2010 stood at INR 3214.47 crore registering a growth of 51.85%. Net profit for the same period stood at INR515.98 crore up 5.05% from INR491.18 crore in the same period last fiscal. EBITDA for the period stood at Rs 685.69 crore up 15.93%. EBITDA and net profit margins for the pe... |
CRISIL gives AA+ to Shree Cement’s NCDs22 July 2010, Published under Cement NewsIndian credit rating agency CRISIL gave yesterday a rating of AA+ with a "stable" outlook to the INR2bn (USD42m/EUR33m) non-convertible debentures (NCDs) of local Shree Cement Ltd. In addition, the agency kept at AA+ with a "stable" outlook the rating on the company’s INR3bn NCDs. CRISIL believes that Shree’s debt protection metrics will remain strong over the medium-term, backed by its strong operating profitability and liquidity, and established market position. The agency may revise t... |
Votorantim boots stake in Cimpor22 July 2010, Published under Cement NewsBrazil’s cement maker Votorantim Cimentos said it had bought a further 3.93% of Portuguese peer Cimpor for EUR5.85 (US$8.02) per share, or total of EUR154.45m. |
Prosperity Minerals gets share buy-back underway22 July 2010, Published under Cement NewsProsperity Minerals Holdings Ltd has been engaged in on-market share buy-backs, purchasing over UK£1m of its own equity over the past two days. On Tuesday July 20th, the company bought 171,000 shares at 150p each, and then yesterday it bought 500,000 shares at 160p. The company pledged to conduct a share buy-back programme, to return value to shareholders following its significant £300m asset sale earlier this year. In April the company sold most of its cement business to TCC International ... |
Emkay maintains ‘buy on Century Plyboards, India22 July 2010, Published under Cement NewsEmkay has recommended ’Buy’ on Century Plyboards (India) with a price target of Rs 80 as against the market price (CMP) of Rs 62 in its report dated July 21, 2010. The broking house gave the following conference call investment rationale: “Century Plyboards (CPL) Q1FY11 numbers ahead of expectations- overall EBITDA at INR716.3m (+8.7% YoY) higher than estimates (INR614m), led by better than expected profitability of cement and power division.” |
CRISIL assigns grade 3/5 to OCL India22 July 2010, Published under Cement NewsCredit rating agency, CRISIL Equities has assigned a CRISIL IER fundamental grade of `3/5` to OCL India (OCL). The grade indicates that the company`s fundamentals are good relative to other listed equity securities in India. CRISIL Equities has assigned a valuation grade of 5/5, indicating that there is a strong upside from the current market price of Rs 126 (as on July 21, 2010). Our one-year fair value of the stock is Rs 197. The grades are not a recommendation to buy, sell or hold the... |