Cement News tagged under: corporate
Boral appoints new construction boss13 May 2010, Published under Cement NewsBoral Ltd has appointed Murray Read as executive general manager of its Australian construction materials division. Mr Read has been with Boral for 25 years, previously as the Queensland regional general manager for the construction division. Mr Read replaces John Douglas who spent 15 years with the group, his last six years as executive general manager of the Australian construction materials division. |
Siam City Cement: 1Q earnings expected to fall11 May 2010, Published under Cement NewsSiam City Cement (SCCC) is expected to report rather disappointing 1Q10 earnings of B760m (EPS Bt3.30), up 8% QoQ on seasonal effects, but down 6% YoY on lower cement prices. SCCC sales volume should be up just 2.3%, below market, which was up by 7%, on price competition in 1Q10. In the terms of sales value Bt5,048mn is expected, up 1% QoQ, but down 2% YoY. The gross margin should be down to 43.4% from 47.5% last year on lower cement prices. According to cement dealers, the cement sales p... |
Cemex to cut debt by US$437m with perpetual bond swap11 May 2010, Published under Cement NewsCemex said Monday that its offer to swap perpetual bonds for new notes will result in a reduction of around US$437m in overall debt. Cemex said in a press release that it will issue US$1.07bn in new 10-year senior secured notes, and EUR115.3m in new seven-year senior secured notes to replace the perpetuals that were tendered by Friday’s deadline. Investors tendered US$202.1m, or 58%, of outstanding 6.196% dollar perpetuals; US$381.1m, or 51%, of 6.640% dollar perpetuals; US$451.1m, or just... |
Kuwait Cement returns to profit11 May 2010, Published under Cement NewsKuwait Cement Company said in a bourse filing yesterday it recorded a net profit of KWD4.99m (US$17.3m) for the three months ended March 31, 2010, recovering from a net loss of KWD8.94m a year earlier. The cement producer reported earnings per share of 8.47 fils for the first quarter of 2010 compared to a loss per share of 15.17. Total assets rose to KWD255.9m at end-March 2010 from KWD207.3m a year ago. |
Ha Tien 2 Cement 2010 pretax profit likely to fall, Vietnam11 May 2010, Published under Cement NewsHa Tien 2 Cement JSC said Monday its pretax profit this year is expected to fall 40% to VND105bn (US$5.5m) from VND176.3bn last year due to higher production and financial costs. In a statement filed to the Hochiminh Stock Exchange, the cement producer said it expected to spend 23% more on coal this year and 30% more on electricity than it did last year. The company also said its financial costs were expected to increase 133% from last year. Ha Tien 2 said it has a target full-year revenu... |
Arranger group forming for Taiwan Cement10 May 2010, Published under Cement NewsBNP Paribas is forming an arranger group for an up to CNY1.55bn (US$227m) loan for PRC subsidiaries of Taiwan Cement. The deal comprises three tranches that are each further divided into a term loan and a revolver. There is a CNY550m tranche that comprises a CNY450m term loan and a CNY100m revolver. The second and third tranches are CNY500m each and sub-divided into a CNY400m term loan and a CNY100m revolver. |
Carthage Cement prepares for IPO, Tunisia10 May 2010, Published under Cement NewsDuring a meeting held on April 22, 2010, the Board of Directors of the Tunis Stock Exchange approved the listing of shares of the Carthage Cement company on the alternative investment market. According to the Tunis Stock Exchange Website Tustex, Carthage Cement will increase its capital from 71, 680 million dinars to reach 142,680 million dinars in order to integrate the bourse. Nearly 49% of the company’s capital will be owned by new shareholders. A guaranteed Placement mainly from instit... |
Cementos Portland to close 2010 in profit07 May 2010, Published under Cement NewsDespite a first-quarter loss, Spanish cement producer Cementos Portland Valderrivas, expects to close the year with a profit, the company said yesterday. The company plans to end 2010 in line with the profit of 2009, namely EUR24m (US$30.5m). There have been positive signs of recovery since the second half of March and Cementos Portland expect to return to profit in the second quarter of 2010. Yesterday, Cementos Portland reported an EUR-8.6m net loss for the first quarter of 2010 versus a ... |
Cemex to buy back MXP6bn in debt07 May 2010, Published under Cement NewsCemex said on Thursday it would buy back up to MXP6.1bn (US$470m) in short-term debt as it continued with its debt restructuring strategy. Cemex has been wrestling to restructure its US$18bn debt load after the bottom fell out of the US housing market shortly after it loaded up on short-term borrowings to finance its takeover of Australian rival Rinker. Cemex said in a statement it had the funds to buy back four series of short-term debt securities issued in Mexico worth just over MXP6.1bn... |
Lafarge 1Q sales down on poor weather07 May 2010, Published under Cement NewsLafarge reported a first quarter 2010 decline in turnover by 9.7% to €3276m as unfavourable weather conditions, notably in Europe, North American and China, upset results. The fall was also attributed to still sluggish construction sectors in recession-hit developed countries. Cement shipments in the quarter fell by 7.4% to 29Mt, with turnover from cement declining by 8.5% to €2137m and the corresponding EBITDA fell by 15.4% to €485m. "Very poor weather and the lower economic activity ... |