Cement News tagged under: corporate
Union Cement’s earnings up 50% , UAE28 July 2009, Published under Cement NewsUnion Cement Co (UCC) yesterday reported profits for the first half rose by 50 per cent to Dh90m. The company realised the bulk of its profit, despite a 20 per cent decline in sales revenues, thanks to a 35 per cent decline in its costs. Last year, UCC began bringing online multi-fuel burners in its kilns, which has decreased its dependence on fuel and diesel in favour of cheaper coal fuel. The investment in the new burners has doubled UCC’s gross margin to 29.9 per cent despite experien... |
Cementos Portland 1H09 profit dips28 July 2009, Published under Cement NewsThe net profit of Spanish cement producer Cementos Portland Valderrivas fell by 69.7% on the year to EUR 20.6m (US$29.3m) in the first half of 2009, the company said today. The decline was due to a sharp fall in the construction business in the USA and Spain, the company told Spanish stock market regulator CNMV. The revenue in turn went down by 30% to EUR 537m for January to June, while the earnings before interest, tax, depreciation and amortisation (EBITDA) dipped by 35.2% to EUR150m. ... |
VHMEL to acquire 28.955 % shares of Pioneer Cement, Pakistan28 July 2009, Published under Cement NewsVision Holding Middle East Ltd (VHMEL), a company incorporated in British Virgin Islands has announced to acquire 28.955 percent shares of Pioneer Cement Ltd. According to an intimation to KSE here Monday, the Foundation Securities Ltd, the local agent on VHMEL, said that the acquirer had already purchased 24.599 percent shares of Pioneer Cement at Rs 22 per share on June 18, 2009. The company will start due diligence in next four months, to determine the final price per share for 28.955... |
Bain, CVC, 3i Eyeing HeidelbergCement Malaysian Assets28 July 2009, Published under Cement NewsPrivate equity firms Bain Capital LLC, CVC Capital Partners Ltd. and 3i Group PLC have shown interest in buying HeidelbergCement AG’s Malaysian assets worth at least US$200m, people familiar with the deal said Monday. In the latest disposal by the debt-ridden German cement maker, HeidelbergCement is selling the Malaysian assets it acquired when it bought U.K. building materials firm Hanson in 2007. HeidelbergCement has 40 ready-mixed concrete plants, 17 aggregate quarries and 20 asphalt pl... |
Umm Al-Qaiwain Cement 2Q net drops28 July 2009, Published under Cement NewsUmm Al-Qaiwain Cement Industries Co, a United Arab Emirates-based cement producer, said second- quarter profit slumped 96 per cent on investment losses and impairment provisions. Net income declined to AED2.9m, or AED0.008 dirham a share, from AED81.4m, or AED0.224, in the year- earlier period, the company said in a statement to the Abu Dhabi bourse today. Sales fell 5 percent to AED29.6m. Source: Bloomberg |
Holcim’s Weijde named new CEO of Ambuja Cements28 July 2009, Published under Cement NewsAmbuja Cements Ltd (ACL), India’s second largest cement maker, will get a new chief executive officer (CEO) from 1 May 2010. Four years after Holcim Ltd acquired management control of ACL from Satyanarayan Seksaria, Holcim executive Onne Van Der Weijde will take over as CEO of the company. Weijde, who has been a board member of both ACL and ACC Ltd, will replace the current managing director of ACL, Amrit L Kapur, who had worked with the founder chairman Seksaria, now vice-chairman of AC... |
China National Materials Co to sell bonds27 July 2009, Published under Cement NewsChina National Materials Co said on Monday that it has won approval from China’s securities regulator to issue up to CNY2.5 bn (US$366m) of bonds, becoming the first Hong Kong-listed company to sell bonds on the mainland. The seven-year bonds, with an indicative coupon between 4.90 and 5.40 percent, will be sold from Wednesday and comprise a retail tranche of 10 percent of the issue plus an institutional tranche of 90 per cent, the cement equipment and construction firm said in a statement... |
CRH offers to buy back $100m of bond debt27 July 2009, Published under Cement NewsCRH Plc is offering to buy back as much as US$100m (€70m) of 6.4pc bonds due 2033 issued by subsidiary CRH America Inc. Holders of the bond will receive 88pc to 95pc of the notes’ principal amount, CRH said today in a statement. The company is also offering an extra 3pc to investors who accept the proposal before 5pm, New York time, on August 10. The tender period will end at 11:59pm, New York time, on August 21. CRH has hired JPMorgan Securities to serve as manager for the tender offer a... |
Qatar National Cement first-half profit26 July 2009, Published under Cement NewsQatar National Cement Co, a producer of materials for the construction industry, said first- half profit rose less than one per cent. Net income climbed to 253.3 million riyals ($70 million) from 251.9 million in the year-earlier period, according to a statement released on the Qatar bourse today. |
Raysut Cement 2Q profit up nine per cent23 July 2009, Published under Cement NewsOman’s Raysut Cement Company reported on Wednesday profit of OMR9.46m (US$24.56m) in the second quarter, up 8.99 per cent from the year-earlier period. The company had profit of OMR17.3m before tax in the six months ended June 30, compared with OMR20.53m a year ago, it said in a statement on the bourse website, without giving a quarterly figure. |