Cement News tagged under: corporate
South Africa: Stuiver to take over at PPC from CEO Gomersall28 May 2009, Published under Cement NewsPretoria Portland Cement (PPC), SA’s largest cement maker, yesterday announced the sudden departure of CEO John Gomersall, who is to step down at the end of next month after 17 years at the helm. Gomersall will be replaced by PPC director and former Barloworld Logistics CEO Paul Stuiver, who will become CEO-designate from next month and eventually take the reins fully on July 1. |
New MD of Holcim Bangladesh27 May 2009, Published under Cement NewsRajnish Kapur has been appointed the new Managing Director of Holcim Bangladesh Ltd, to succeed PN Iyer. Mr. Kapur with more than 23 years of experience is an engineer and Six Sigma Green Belt from the reputed Indian Institute of Management. |
Bank Sohar, Oman Cement sign deal for term loan facility26 May 2009, Published under Cement NewsBank Sohar and Oman Cement Company have signed an agreement for a term loan facility for OMR20m to part finance the company’s expansion projects. Oman Cement Company’s team led by Sayyid Qahtan bin Yarub al Busaidy, Chairman included its directors Ali Mohammed Redha al Haj Jaffer, Hamdan Mohammed al Wahaibi, CEO Jamal bin Shamis al Hooti and CFO Deepak Dikshit. "This agreement brings together one of the oldest companies in Oman working together with the newest bank in the country. Oman Cemen... |
Siam City Cement to focus on cost-cutting, Thailand21 May 2009, Published under Cement NewsSiam City Cement PCL, Thailand’s second largest cement maker, is focusing on cost-cutting to shore up its profitability amid declining domestic demand and fierce competition. Siam City Cement, 35% owned by Holcim, expects to see a 5%-10% decline in the domestic cement market in the wake of the global economic slowdown and sluggish domestic activity, Managing Director Philippe Arto said Thursday. Domestic cement demand was around 24.5Mt last year. The company has around 27%-28% of the domes... |
Cimpor sells 48% in C+PA to Teixeira Duarte21 May 2009, Published under Cement NewsPortuguese cement producer Cimpor agreed to sell 48% in C+PA to local builder Teixeira Duarte for EUR 47.2m (US$65.7m), Cimpor informed on Thursday in a filing to the national bourse regulator CMVM. As part of the same deal, Cimpor will withdraw from the 2.18% stake in Portuguese commercial bank Millennium bcp (BCP) through C+PA. This stake in BCP brought a loss of some EUR 77m for Cimpor at the end of 2008. In the meantime, Cimpor will buy 25% in Cimpor Macau and 48.6% in Arenor Lda, curr... |
Fitch Rates Lafarge’s Bonds At BBB21 May 2009, Published under Cement NewsFitch Ratings has today assigned Lafarge EUR1bn 7.625% bond, maturing in 2014, and its GBP350m 8.75% bond, maturing in 2017, senior unsecured ratings of ’BBB-’ respectively. The bonds have been issued under Lafarge’s EUR9bn EMTN programme. The ratings are in line with Lafarge’s Long-term Issuer Default Rating (IDR) of ’BBB-’, which has a Negative Outlook. Lafarge’s senior unsecured rating is ’BBB-’ and its Short-term IDR is ’F3’. The net proceeds of the bonds will be used for refinancing o... |
Grasim 4Q net profit down; sees pressure on margins20 May 2009, Published under Cement NewsIndia’s Grasim Industries Ltd posted Tuesday a 42% decline in fiscal fourth-quarter unconsolidated net profit from a year earlier when it had a one-time gain. Profit in the three months ended March 31 slid to INR3.85bn from INR6.67bn a year earlier, the cement maker said in a statement. Revenue rose 6.1% to INR29.32bn from INR27.64bn a year earlier. In the year-earlier quarter, Grasim took a gain of about INR2.37bn from the sale of a stake in unit Digvijay Cement Company Ltd. to Cimpor. ... |
Lafarge sets size eight-year bond at UK£350m20 May 2009, Published under Cement NewsLafarge set final terms on a planned eight-year sterling bond at a size of UK£350m (US$54m) and final guidance for a coupon of 8.75 percent, IFR reported on Tuesday. This is Lafarge’s second bond issue in two days, following the sale of a EUR1bn (US$1.4bn) five-year bond on Monday. Barclays, HSBC and Royal Bank of Scotland have been named to manage the sterling issue, which is to include a 125 basis point step-up in its coupon in the event of a downgrade to junk, said IFR Markets, a Thom... |
Ciment de Sibline 2008 profit at LBP9.8bn19 May 2009, Published under Cement NewsCiment de Sibline SAL, the third largest cement producer in Lebanon, said net profit for 2008 reached LBP9.8bn (US$6.5m). Total assets came to LBP243.2bn, the company said today in a statement published in Annahar newspaper. Ciment de Sibline, which is owned by Druze leader Walid Jumblatt, said it will pay a LBP214 cash dividend per share, the same as a year earlier. |
Arabian Cement Co 1Q09 net profit down 10% YoY19 May 2009, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) said its net profit for the first quarter of 2009 has dropped 10% YoY to SAR 103.8m (USD 27.7m). The decrease was due to lower sales and an increase in expenditure related to investments in new projects, ACC said without giving further details. The earnings per share (EPS) stood at SAR 1.3, down from SAR 1.44. The operating profit declined to SAR 103.4m for the first quarter of 2009, down from SAR 110.3m a year earlier. |