Cement News tagged under: corporate
Titan responds to SEPA ruling, USA06 May 2010, Published under Cement NewsTitan Cement says a Superior Court judge ruling that it must undergo an extensive environmental review sets an anti-industry precedent. Because Titan Cement received US$4.5m in public funding, a Superior Court judge ruled it must undergo a full environmental review before receiving any permits. Titan Cement said in a released statement that the ruling could quote, "put future commerce of North Carolina at great risk." Titan Cement wants to build a plant and limestone quarry on the bank... |
Indonesia’s Gresik ready to take stake in Baturaja06 May 2010, Published under Cement NewsPresident-director of Indonesian cement maker PT Semen Gresik, Dwi Sutjipto, said the company is ready to take over the shares of PT Semen Baturaja. "The acquisition would build a synergy in the Semen Gresik group," Dwi Sutjipto said after a hearing with Commission VI of the House of Representatives in Jakarta Wednesday. Sutjipto said taking over the cement plant is a strategy taken by the company to boost its production capacity. "We have been making the necessary preparations for takin... |
Market dominance will prevent CRH from Quinn Cement bid06 May 2010, Published under Cement NewsCRH has said its strong position in the Irish cement industry is likely to stop it making any bid for Quinn Cement if the Quinn Group ultimately breaks up, the Irish Independent reports. British construction group Laing O’Rourke is reported to have expressed an interest in the Quinn cement and building materials businesses, but CRH chief executive Myles Lee said his company would probably not be allowed to bid because its combined market share would be too high. Speaking after the company’... |
Sri Lanka’s pre-poll spending propels Holcim sales06 May 2010, Published under Cement NewsThe Sri Lankan Government’s pre-election spending helped increase cement sales in Sri Lanka by Holcim, one of the world’s biggest cement manufacturers, in the March quarter although the global group itself made a loss. Sales of cement and clinker by Holcim Lanka, the Sri Lankan subsidiary of the Swiss cement multinational, shot up 32.6 per cent in the March 2010 quarter, a company statement said. Although the market is small, it was one of the market’s in the global group with the fastest ... |
Dyckerhoff knocked back by harsh winter06 May 2010, Published under Cement NewsBuzzi Unicem’s quoted subsidiary Dyckerhoff saw first half turnover decline by 21.7% to €202m and the EBITDA turned negative to the tune of €10m compared with a €6m profit last year. Much of this deterioration can be put down a yet harder winter across northern Europe and also in the USA, on top of which many economies remain weak. Cement shipments declined by 20.0% to 1.90m tonnes, with lower volumes in all countries. The smallest reductions were seen in Luxembourg with a 2.2% reduction ... |
TPI Polene first quarter profit, Thailand05 May 2010, Published under Cement NewsTPI Polene (TPIPL) announced an impressive 1Q10 normalised profit of THB500m (EPS THB0.25), up 45% QoQ and 32% YoY. If including the extra items, a gain from debt restructuring of THB77m and a forex gain of THB100m, TPIPL would have posted a net profit of THB677m (EPS Bt0.34), down 76% QoQ, but up 22% YoY. This impressive normalised profit came as TPIPL sales were up to THB6139m (+18% QoQ, +8% YoY) from domestic cement demand, which rose by 7% YoY and LDPE petrochemicals that were higher t... |
Cemex extends tender period for offers05 May 2010, Published under Cement NewsCemex has extended to May 7 the expiration date for four offers to exchange outstanding perpetual debentures, the company said in a statement on Monday. The previous tender date to exchange outstanding perpetual debentures for new US dollar- or euro-denominated senior secured notes was Friday. |
Deutsche Bank lowers Buzzi Unicem rating to "hold"05 May 2010, Published under Cement NewsDeutsche Bank analysts announced a downgrade in the stock rating of Italian cement producer Buzzi Unicem to "hold" from "buy". Last week Italian brokerage Equita said it expected the company to have widened net loss to EUR51m (US$66.1m) in the first quarter of 2010 from EUR 43m a year earlier. The broker foresaw a 12% yearly drop in Buzzi Unicem’s revenue to EUR 514m, expecting a weak quarter due to the low prices in the United States and Italy. |
Weak private sector leads to continued pressure on Vulcan05 May 2010, Published under Cement NewsVulcan Materials’ first quarter turnover declined by 18.0% to US$493.3m and the EBITDA fell by 39.3% to US$58.8m. At the trading level the loss widened from US$1.3m to US$36.8m. With the net interest expense edging up by 0.4% to US$43.3m, the pre-tax loss widened by 72.8% to US$78.7m and the net attributable loss for the period was 18.2% higher at US$38.7m. Net debt at the end of the period was 1.5% higher than a year earlier at US$2365.2m, giving a gearing of 58.2%. Capital expenditure... |
Lafarge 1Q sales down on poor weather05 May 2010, Published under Cement NewsLafarge reported a 10 per cent drop in first-quarter sales on Wednesday as tepid economic growth and a harsh winter slowed construction work, sending its shares down. But the group kept its outlook unchanged for 2010, forecasting a rise of up to five per cent in global cement demand in its markets, and said it expected demand to start to recover in developed countries in the second half of the year. "The first quarter is traditionally a small one for Lafarge, this one was even smaller bu... |