Cement News tagged under: corporate
China Shuangji announces 2009 results19 April 2010, Published under Cement NewsChina Shuangji Cement, a leading producer in the Shandong and Hainan provinces of China, announced its financial results for the fiscal year ended December 31 2009. Total revenue declined slightly to US$54m from US$56.4m in fiscal 2008. Gross profit was down to US$7.3m from US$7.7m YoY. Operating expenses fell by 1.4% to US$1.27m, down from US$1.29m in fiscal 2008. Mr. Wenji Song, chairman and president of China Shuangji Cement, Ltd., commented, “Despite a challenging economic environment ... |
Cemengal establishes Brazil presence?19 April 2010, Published under Cement NewsSpanish EPC contractor, Cemengal has opened a new office in Sao Paolo, Brazil. “We decided to open the Latin American Branch at the end of 2009... to be close to the demand of these growing countries, and offer a full range of solutions and after-sales service,” said Mr. Graziano Messana, manager of the Sao Paulo office. Cemengal has more than 25 years of history and is headquartered in Madrid, Spain. |
Atlansider completes sale of stake in Cimpor19 April 2010, Published under Cement NewsPortuguese steel and metals company Atlansider SGPS SA completed the sale of its 6.46 per cent shareholding in Cimpor to Brazilian conglomerate Camargo Correa. The shares were sold for EUR6.50/share, Cimpor said in a filing with the Portugal’s bourse regulator CMVM yesterday. Altogether Camargo Correa will pay some EUR280m to a acquire 3.4 million shares in Cimpor. As a result of the sale, Atlansider and its subsidiaries Bipadosa, Metalurgica Galaica and LAF98 only hold 1130 shares in Ci... |
Stake in Mangalam to be sold19 April 2010, Published under Cement NewsInsurance major Birla Sun Life Insurance Company has sold a 0.57 per cent stake in Mangalam cement for an aggregated amount of INR31.02m. Mangalam Cement is part of the BK Birla Group of India. Birla Sun Life Insurance Company (BSLI) is a joint venture (JV) between the Aditya Birla Group and Sun Life Financial Inc, a leading financial services organisation from Canada. |
Cemex extends earlier period offers19 April 2010, Published under Cement NewsCemex has extended to April 23 the early tender date for four offers to exchange outstanding perpetual debentures for new US dollar- or euro-dominated senior secured notes. The original tender date was Friday afternoon. “The extension will allow certain investors, who have experienced delays in receiving the documents from their respective custodians, additional time to review the exchange documents and consider the exchange offers,” Cemex said in a release on early Monday. Cemex, which l... |
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... |