Cement News tagged under: corporate
Saudi Qassim Cement plans bonus share issue08 October 2009, Published under Cement NewsSaudi Qassim Cement has announced plans to offer its shareholders one bonus share for each existing stock to double its capital to SR900m, Reuters has reported. Shareholders would be invited to vote on the board proposal on November 16, the company said. |
Mexico’s Peso Gains as PRI Seeks More Spending Cuts in 201008 October 2009, Published under Cement NewsMexico’s peso gained for a fourth day as lawmakers from the Institutional Revolutionary Party said they will seek “more aggressive” spending cuts than President Felipe Calderon proposed in his 2010 budget plan. The currency rose 0.8 per cent to 13.3683 per U.S. dollar at 5 p.m. New York time, from 13.4674 yesterday. The peso has gained 3 percent in the past four days. Luis Videgaray, a PRI lawmaker and head of the budget committee in the lower house of Congress said today his party will se... |
Saudi’’s Yanbu Cement Q3 profit drops 20%08 October 2009, Published under Cement NewsSaudi Arabia’s Yanbu Cement Co. posted an almost 20 per cent drop in third-quarter net profit due to weaker sales. Yanbu Cement made a net profit of SAR98m compared (US$26.13m) to SAR122 million riyals in the same period a year ago, the firm said in a statement on Monday. It blamed falling sales volumes but did not elaborate. |
Hanson & Hawaiian Rock partnership, Guam08 October 2009, Published under Cement NewsHanson Permanente Cement of Guam and Hawaiian Rock Products have formed a strategic alliance for Micronesia. Hanson Cement, the largest cement supplier in Micronesia, and Hawaiian Rock, the largest ready-mix concrete, aggregate and asphalt paving company in Micronesia, have formed this new alliance to ensure an ample availability of high quality cement and concrete products for Guam and Saipan during the regional military build-up and other anticipated construction projects. Both companies... |
Prism Cement Q2 profit rises over two-fold07 October 2009, Published under Cement NewsPrism Cement on Tuesday reported a rise of over two-fold in its net profit for the second quarter ended September 30 to Rs 34.97 crore, over the corresponding period a year ago. Net sales of the company also rose to Rs 228.40 crore in the latest quarter from Rs 163.17 crore of the same quarter a year ago, Prism Cement said in a filing to the Bombay Stock Exchange. For the half-year ended September 30, the cement producer posted a net profit of Rs 109.22 crore, up 42.72 per cent compared to... |
HeidelbergCement to launch high-yield bond07 October 2009, Published under Cement NewsHeidelbergCement AG will launch a high-yield bond of more than EUR1bn (US$1.47bn) early next week as it continues to restructure its debt, banking sources said. HeidelbergCement has not finalised the banks leading the issue, but is expected to appoint four bookrunners, two of which will play an active role, one banker said. Deutsche Bank and Royal Bank of Scotland are expected to lead the deal and Bank of America Merrill Lynch is also expected to have a bookrunning position, several bank... |
UltraTech plans public offer to fund expansion05 October 2009, Published under Cement NewsUltraTech is planning a follow-on public offer to fund the expansion of its cement business. The fund-raising exercise is likely once the restructuring of the business, announced today, is over. The company has an investment plan of Rs 15,000 crore over the next five years to add about 25Mt of capacity. “The idea of the restructuring is to create a platform which will help in raising funds through a follow on public offer,” said D Muthukumaran, head (group corporate finance), AV Birla Grou... |
Akermann CEO: liquidity needs met05 October 2009, Published under Cement NewsHolcim Ltd.’s liquidity needs have been met with recent refinancing efforts, and the firm doesn’t plan any further acquisitions after purchasing rival Cemex Australian activities, Finanz und Wirtschaft newspaper reports, citing Chief Executive Markus Akermann, in an advance print of Saturday’s edition. Akermann said the company is enjoying high levels of liquidity, even after the $1.7 billion Cemex deal, and has exceeded its goal of securing maturities for the coming 12 months, according t... |
CR Cement prices shares at high end of range05 October 2009, Published under Cement NewsChina Resources Cement Holdings has priced its shares at the high end of the offer range at HK$3.90 each. The company will raise HK$6.13 billion from the offering. Hong Kong investors have been reallocated 491.4 million shares in the offer after it was 82.57 times subscribed. |
Tabuk first half decline, Saudi Arabia05 October 2009, Published under Cement NewsSaudi cement producer Tabuk Cement Company (TCC) registered a decline in its net profit for the first half of 2009 to SAR 71.3m (USD 19m/EUR 13m) from SAR119.4m a year ago. The decrease was chiefly due to lower sales during the six-month period, TCC said without giving exact figures. The earnings per share (EPS) stood at SAR 0.79, down from SAR 1.33. The operating profit stood at SAR 65.1m for the first six months of 2009, down from SAR 108.3m a year earlier. For the second quarter o... |