Cement News tagged under: corporate
HeidelbergCement may enter DAX in June, Germany16 April 2010, Published under Cement NewsHeidelberg Cement will probably join the blue-chip Dax index of the Frankfurt Stock Exchange in June, according to estimations of experts. Under the "fast entry" rule provides for making changes to the indices not only on September 30, Heidelberg Cement may enter Dax if it is among the 25 biggest listed German companies in terms of market value of its free float and volume of traded shares. The company with the weakest ratios will drop out of the index. Currently, it is Salzgitter. Analyst... |
AlphaValue raises Cimpor15 April 2010, Published under Cement NewsAlphaValue has raised slightly its share price target for Cimpor to EUR5.36 from the previous EUR5.31. Despite the price target upgrade, the brokerage house kept unchanged its “reduce” stance on the corporate stock. The new target still gives a potential for a drop of three per cent compared with current market prices. |
Cimpor to have four Brazilians on board15 April 2010, Published under Cement NewsThe management board of Portuguese cement maker Cimpor should have four Brazilians, two coming from construction group Camargo Corrêa and two others from industrial conglomerate Votorantim, Cimpor said Wednesday in a filing with Portuguese stock-market regulator CMVM. Cimpor was in recent months the target of a heated bidding race among three Brazilian companies. Steel major CSN was the first to make a takeover offer for Cimpor, but its move was rejected, and Camargo and Votorantim ended u... |
Tabuk Cement profit rises, Saudi Arabia15 April 2010, Published under Cement NewsSaudi Arabia’s Tabuk Cement Co said Wednesday its first quarter 2010 net profit inched up to SAR34.02m (US$9.1m) from SAR33.5m in the same period last year on higher sales. First quarter operating profit rose 9.5 per cent to SAR34.7m versus SAR31.7m in 2009, the producer said in a statement posted on the Saudi bourse website. Earnings per share for the first three months of 2010 came in at SAR0.38 compared with SAR0.37 in the year-earlier period. |
Cimpor sees further Asian and Brazilian growth15 April 2010, Published under Cement NewsThe publication of Cimpor’s annual report this week shows up some interesting information on the group in which the Brazilian groups Camargo Corrêa and Votorantim have stakes of 28.6% and 21.2% respectively, though with its voting arrangement with a Portuguese public sector bank, Votorantim has an influence over 30.8% of the capital. It shows that Cimpor earns its highest EBITDA margins in South Africa (46.1%), Morocco (44.4%) and Egypt (43.4%). In Portugal, the margin was 33.3% and it ex... |
Danareksa Group likely to gain Semen Gresik stake14 April 2010, Published under Cement NewsThe Danareksa group has emerged as the preferred buyer of a 1.25 per cent stake in Indonesian state-controlled cement company PT Semen Gresik, according to State Enterprises Minister Mustafa Abubakar. Mustafa said state-owned Danareksa was ready and able to purchase the Semen Gresik stake, which is being offered by investment firm PT Rajawali, but added that the plan had yet to be approved by Finance Minister Sri Mulyani Indrawati. Marciano Herman, a director at PT Danareksa Sekuritas, Dan... |
Castro Guerra new Cimpor chairman, Portugal14 April 2010, Published under Cement NewsAntonio Castro Guerra, former Deputy Secretary of State for Economic Affairs, has been appointed by the executive chairman of the board of Cimpor, after nomination received the shareholders’ nod. Previous chairman and CEO Ricardo Manuel Simoes Bayao Horta stepped down in March 2010 as a result of the recent “profound change in Cimpor’s shareholding structure.” |
Management changes at CRH Europe Products & Distribution14 April 2010, Published under Cement NewsCRH plc announces that Máirtín Clarke, managing director of CRH Europe Products & Distribution, has decided to resign from his position with effect from 31 May 2010. Máirtín will be succeeded by Erik Bax who is currently managing director of CRH’s European Distribution business. Erik (52) joined CRH in 1984 and has held a number of senior positions in Europe Products & Distribution, including Managing Director Rooflights & Ventilation, Managing Director Fencing & Security and Product Group ... |
Africa Cup of Nations boosts Angola 1Q infrastructure results14 April 2010, Published under Cement NewsA recent report on Angola’s infrastructure shows latest quarter saw activity in the domestic construction sector reach its peak on the back of the Africa Cup of Nations 2010 games. Although, held in January, the games are still providing a momentum for infrastructure projects and will push growth in the sector to 22.71% in 2010. Angola attracted international attention this quarter, as it hosted the 2010 games as well as the latest OPEC meeting, and both exemplified contradictions in a c... |
Yamama leads Saudi cement sales growth in 1Q13 April 2010, Published under Cement NewsYamama Cement posted the strongest growth among rivals in the cement sales growth during the first quarter, NCB Capital said on Monday as producers release their quarterly results. Compared to a year earlier, the volume of cement and clinker sales by Saudi firms rose 26 per cent during the first quarter with Yamama recording a 37 per cent rise, NCB Capital said in a note. “We believe the year-to-date volume bodes well for the YoY growth in financial performance [that] we expect to see for ... |