Cement News tagged under: corporate
Siam City Cement (SCCC): Fair 1Q09 earnings18 May 2009, Published under Cement NewsSiam City Cement (SCCC) was still able to post an acceptable 1Q09 net profit of Bt805mn (EPS Bt3.50), although pressured by numerous negative factors with a result up 19% qoq from the high season, but down from last year by 21%. Sales were Bt5,128mn, down 2% qoq and 10% yoy from lower domestic cement demand as sales slumped by 12.5% yoy in the 1Q09 period and exports contracted by 15.2% yoy. The 1Q09 EBITDA margin was up to 31% from 21% in the previous quarter and 28% in the previous year fr... |
Lafarge Plans 2014 Euro Benchmark Bond Issue18 May 2009, Published under Cement NewsLafarge SA plans to issue a euro-denominated benchmark bond that is due to mature May 27, 2014, one of the lead managers said Monday. BNP Paribas SA, Calyon, Citigroup PLC, HSBC Holdings PLC, Morgan Stanley and Societe Generale SA have been hired to manage the deal, which should be priced later Monday. The issuer is rated Baa3 by Moody’s Investors Service and BBB- by Standard & Poor’s Corp. Source: Dow Jones |
Cemex prices were country’s highest in Jan-Apr, Mexico15 May 2009, Published under Cement NewsA survey conducted by the Mexican branch of Citigroup has determined that the prices charged by Cemex were the highest in the country during the first four months of 2009, paper El Semanario reported. Cemex and fellow manufacturers Cementos Moctezuma, Cruz Azul and Holcim Apasco - a subsidiary of Swiss company Holcim - are being investigated by Mexico’s anti-trust commission (CFC) over alleged monopolistic practices. Citigroup determined that Cemex’s average price of 2,152 pesos (US$151) ... |
HeidelbergCement Gets Bridge Financing Of EUR600m14 May 2009, Published under Cement NewsHeidelbergCement AG said Thursday it has received bridge financing for a EUR600m loan. In order to refinance the EUR600m term loan A of the Hanson acquisition facility falling due on May. 14, 2009, a new bridge facility has been provided. All lenders have unanimously agreed to this. For a comprehensive refinancing, the company is proposing to roll in the remaining tranches of the acquisition facility and other bilateral credit lines and loans under a new consolidated facility and to adjust... |
Siam Cement Group expects its export business to fall14 May 2009, Published under Cement NewsSiam Cement Group expects its international trade to suffer its first-ever drop in annual revenue, to THB60-70bn this year, after posting a more than 30% decline in the first quarter, the Bangkok Post reports. SCT Co - the international trading arm of Thailand’s largest industrial conglomerate - projects its sales revenue will drop by 10% in 2009 in the face of the global economic recession, compared to the double-digit growth recorded every year previously, said Kalin Sarasin, the company’... |
HeidelbergCement may sell Australian arm14 May 2009, Published under Cement NewsHeidelbergCement is considering selling its A$2bn ($1.5bn) Australian business as it looks to pay down debt it took on with the takeover of British rival Hanson, the Australian Financial Review newspaper reported on Thursday. The business daily said HeidelbergCement had appointed advisers for a sale. It said several potential bidders had confirmed to the newspaper that they had been alerted to a possible sale by Deutsche Bank, but that the investment bank had said no final decision had bee... |
Caribbean Cement, Union reach agreement13 May 2009, Published under Cement NewsThe Caribbean Cement Company Limited and the National Workers Union (NWU), which represents the cement company’s over 150 production disgruntled workers, late Monday reached an agreement over vacation leave entitlement, according to the Ministry of Labour and Social Security. "The parties have agreed that, as a result of the six-day shift cycle, some workers will be entitled to an increase in vacation leave entitlement. Where applicable, the increased portion of the vacation leave will be a... |
Holcim Indonesia to conclude acquisition deal by month-end11 May 2009, Published under Cement NewsPublicly listed Holcim Indonesia, the local unit of Holcim Ltd, will seal a US$50m deal to acquire Malaysian unit Holcim Sdn Bhd (HSB) in May, an executive says. The acquisition, aimed at strengthening the position of HI in the regional market, is expected to be concluded within three weeks, legal and corporate affairs director Jannus O Hutapea said Friday. The plan will first be brought to a shareholders’ meeting. "We need approval from the shareholders in the upcoming meeting," Jannus sa... |
Saudi Cement Co first quarter fall11 May 2009, Published under Cement NewsSaudi Cement Company said yesterday its first-quarter profit fell 12.3 per cent after a government ban on exports. Company made SAR152m (US$40.5m) in the quarter down from SAR173.3m a year earlier, the company said. |
Semen Gresik capital expenditure worth US$784m08 May 2009, Published under Cement NewsPT Semen Gresik Tbk allocated US$784m capital expenditure or IDR8.07 trillion as from 2008 up to 2012 to finance strategic projects and ne power plant and factory. To finance those projects, the company still negotiates the bank syndication terms worth IDR6 trillion led by Bank Mandiri. The presentation material of Semen Gresik addressed to the Investor Day, the company will allocate US$355m to help construct a factory with 2.5Mt cement capacity in Java which is commenced in 2008 to 2012 w... |