Cement News tagged under: corporate
Steppe sees full-year loss12 April 2010, Published under Cement NewsSteppe Cement Ltd announced its preliminary annual results for the year ended 31 December 2009 posting loss attributable to equity holders of US$16.52 or 12 cents per basic share, compared to profit of US$18.64m or 16 cents per basic share last year. Pretax loss was US$19m compared to pre-tax profit of US$26.64m in the previous year. Revenue declined to US$59.13m from US$91.53m a year ago. The company noted that dividends will not be proposed for 2009 and it is not expected that dividend ... |
Burnpur Cement CEO resigns, India12 April 2010, Published under Cement NewsBurnpur Cement Ltd has informed BSE that Mr. Raj Kumar Agrawal, Chief Executive Officer (CEO) of the Company had resigned from the Company with effect of. March 31, 2010. |
Heidelberg CFO wants to lower interest expenses – report12 April 2010, Published under Cement NewsHeidelbergCement AG is confident it will be able to lower its interest expenses as the producer negotiates with its creditor banks on better refinancing conditions, the company’s chief financial officer tells German daily Boersen-Zeitung. "We are in preliminary talks and are quite confident that we have a good negotiation position," Lorenz Naeger says in an interview published in Saturday’s Boersen-Zeitung. He adds the company wants to lower the number of banks in its consortium. Naeger sa... |
Italcementi discards merger talks with Ciments Francais12 April 2010, Published under Cement NewsItalcementi denied on Friday rumours of new merger talks with its French subsidiary Ciments Francais, La Tribune reported. According to the market, the tie-up may generate synergies and increse the partners’ profitability, The rumours were provoked by the fact that Ciments Francais wil buy out nearly all the notes held by US investors who blocked a takeover from Italcementi in 2009. Following the transaction, estimated at US$483.5m, analysts commented that now talks between the two compan... |
Palha da Silva says no to Cimpor12 April 2010, Published under Cement NewsShares in Portuguese retailer Jeronimo Martins, or JM, jumped today by 6.19% to EUR 7.87 after its CEO Luis Palha da Silva withdrew his candidacy to become chairman of home cement producer Cimpor. Portugal’s state-owned bank Caixa Geral de Depositos (CGD) announced that Palha da Silva would not lead Cimpor and presented to finance minister Teixeira dos Santos a list with another three names for the post. |
Yanbu Cement 1Q net profit falls YoY, Saudi Arabia12 April 2010, Published under Cement NewsYanbu Cement Company announced a YoY decline in net profit of 18.8 per cent in the first quarter of 2010 to SAR123.2m (US$32.85m). A recent report by Global Investment House (GIH) showed the Saudi-based producer reported a decline is sales revenue of 13.7 per cent YoY to SAR239.5m in 1Q10 due to the expected fall in the average realisation price for cement to an estimated SAR234.6/t compared to SAR287.5/t in 1Q09. New capacity additions, along with the government’s selective export ban, c... |
West China Cement expects May listing move12 April 2010, Published under Cement NewsWest China Cement expects its Hong Kong listing and AIM delisting, approved at the AGM on March 31, to take place on or around May 24. The company says the final dates will be confirmed not less than ten business days in advance. |
Brazilian investors to gain EUR68m in Cimpor dividends11 April 2010, Published under Cement NewsBrazilian diversified holding groups Camargo Correia and Votorantim will probably gain EUR68m (US$91.1m) in dividends from Portuguese cement producer Cimpor. Several weeks after becoming shareholders in Cimpor, Camargo will receive EUR 39.5m and Votorantim – EUR 28.4m from their shareholdings in the Portuguese firm, economic daily Diario Economico said on Friday. On Wednesday, Cimpor said it will propose for 2009 an annual dividend of EUR 0.20 per share, up 8.1% on the year, at the general... |
Conch expects 90% rise in 1Q net profit09 April 2010, Published under Cement NewsAnhui Conch Cement Co said that its net profit for the first quarter of this year, excluding minority interests, grew about 90% due to higher product prices, sources reported. The cement producer recorded RMB 408.9m in net profit, excluding minority interests, in the first quarter of 2009. In a statement filed with the Shanghai Stock Exchange, Anhui Conch said that its product prices and sales volume were higher in the first quarter this year than in the same period of last year. The compa... |
Italcementi up on Ciments Francais merger talk09 April 2010, Published under Cement NewsItaly’s Italcementi rises more than three per cent to an 11-week high on market talk the cement maker may resume plans to take over its Paris-listed unit Ciments Francais in an operation expected to generate synergies and boost its earnings. On Thursday, Ciments Francais said it bought out nearly all of the US noteholders who blocked a 2009 takeover from Italcementi. "As a result the merger between Italcementi and Ciments Francais can now be relaunched. We believe this news positive for th... |