Cement News tagged under: corporate
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. |
TPI Polene upbeat on 2009 earnings, Thailand23 July 2009, Published under Cement NewsTPI Polene PCL , Thailand’s third-largest cement maker, said on Thursday it expected debt restructuring gains and dividend income to boost earnings in the third quarter and full-year 2009. "Our third-quarter earnings will be much higher than last year’s because of gains from debt restructuring," Chief Executive Officer Prachai Leophairatana told Reuters. The company posted a net profit of THB566m (US$16.7m) in the third quarter of last year. "We also see full-year net profit exceeding ... |
Lafarge falls on lower guidance talk23 July 2009, Published under Cement NewsLafarge falls 2.7 per cent on market talk that the company may revise its sales forecast lower, traders say. "(There is a) rumour doing the rounds (on) Lafarge that they will guide lower" says one London-based trader. A spokewoman for Lafarge declines to comment on the rumour. "Lafarge rumour warning, that’s what’s dragging the stock," says a Paris-based trader. Earlier this month, Lafarge said it may revise its forecast for global cement sales in 2009 when it publishes interim results ... |
Cimentas to buy 70% of waste company21 July 2009, Published under Cement NewsTurkish cement producer Cimentas is set to buy a 70% stake in a waste company, namely Serhat Atik. The statement issued by Cimentas details that the company will pay a total of EUR10.76m for the 70% stake in Serhat Atik. Cimentas will pay the price in three years and the process for acquisition of Serhat Atik shares is expected to be completed within two or three months. |
Arabian Cement Q2 net profit drops 8.6%21 July 2009, Published under Cement NewsSaudi’’s Arabian Cement Co posted on Monday an 8.6 per cent decline in net profit for the second-quarter, in line with a trend of declining profits by Saudi cement companies due to a year-long export ban. Arabian Cement made a net profit of SAR82.6m (US$22.03m) in the three months to June 30, compared to SAR90.4m a year earlier, it said in a statement posted on the Saudi bourse website. "The reason for the decline in profits ... is due to the rise in operational costs and the funding for s... |
Moody’s cuts to "negative" outlook on Italcementi’s Baa2 rating21 July 2009, Published under Cement NewsCredit rating agency Moody’s lowered today its outlook on the Baa2 issuer rating of Italian cement maker Italcementi SpA to "negative" from "stable". Moody’s also cut to Baa2 from Baa1 its rating on Italcementi’s French subsidiary Ciments Francais with a "negative" outlook. On the Milan Stock Exchange, Italcementi shares were gaining 1.41% to EUR 8.285 at 1256 CET on Monday. |
Chile: Blondot confirms Lafarge divestment plans21 July 2009, Published under Cement NewsIn a note to the Superintendencia de Valores y Seguros (SVS), the general director of Lafarge Chile, Xavier Blondot has admitted that the company is sounding out options regarding a proposed sale of its stake of 82.74% in the filial, the former Cementos Melon. Lafarge is carrying out a global plan of divestment to the tune of more than Euro$1bn. The group is also looking into other options other than a direct sale of the Chilean stake but interest from potential buyers such as Votorantim, ... |
Holcim Indonesia to appoint temporary president director20 July 2009, Published under Cement NewsPT Holcim Indonesia Tbk will soon appoint an official to temporarily take the post of president director left vacant by Timothy D. Mackay (61) who died in the bombing at Hotel JW Marriott on Friday. "The company will appoint a temporary president director which will be made public in the near future so that all business activities and services can run as usual," PT Holcim director of managerial relations, Rusli Setiawan, said at Dharmais Hospital here on Saturday. Timothy was one of the fa... |
L&T profit triples after stake sale in UltraTech Cement17 July 2009, Published under Cement NewsIndia’s biggest engineering and construction firm Larsen and Toubro Ltd (L&T) on Thursday said first quarter (Q1) profit more than tripled after it sold stake in a cement maker. Profit rose to Rs1,598 crore in the three months ended June from Rs502 crore a year ago, Mumbai-based L&T said in a statement. Sales rose 7% to Rs7,363 crore. Profit would have risen 15% to Rs578 crore without the Rs1,020 crore earned from selling the 11.49% stake in UltraTech Cement Ltd in June, L&T executive vic... |
Cemex completes MXN$2.2bn securitisation of accounts receivables17 July 2009, Published under Cement NewsCemex announced today that it has successfully raised MXN$2.2bn (approximately US$160m), through the securitisation of accounts receivables of the company’s Cemex Mexico and Cemex Concretos units. To fund the transaction, a trust (at HSBC Mexico) issued receivables-backed bonds maturing on December 29, 2011. This transaction does not represent new debt for Cemex as it is a sale of receivables on a non-recourse basis. The bonds were priced at a spread of 250bps over the 28-day TIIE ... |