Cement News tagged under: corporate
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... |
Pretoria Portland Cement’s Trading Statement07 May 2009, Published under Cement NewsPretoria Portland Cement Company (PPC.J) advises that its earnings per share and headline earnings per share for the six months ended March 31, 2009 are expected to be between 75% and 90% less compared with the period ended March 31, 2008. Earnings per share and headline earnings per share excluding the IFRS 2 charge relating to the BBBEE transaction do not differ by more than 20% from those of the previous corresponding period. |
Holcim Indonesia prepays a debt of US60m07 May 2009, Published under Cement NewsPT Holcim Indonesia said it has serviced debt to its creditor Cemasco paying US$60m before maturity on August 31 this year. The company started prepayments in February until end of March reducing its debt to Cemasco to US$75m, company spokesman Rusli Setiawan said. The Indonesian unit of the Swiss based cement giant Holcim Ltd received a loan of US$135m from Cemasco early last year to repay a debt. The country’s third largest cement producer has agreed to buy Holcim Sdn Bhd in Malaysia fr... |
CRH expects profit cut amid bad economies, weather07 May 2009, Published under Cement NewsCRH issued a profits warning Wednesday over sharper-than-expected drops in demand in both Europe and the United States. In a trading statement before its annual general meeting of shareholders, CRH said its expected first-half 2009 profits would suffer "a sharper decline" than previously forecast. It offered no specific figures on its weaker outlook. Article Controls CRH shares led the Irish Stock Exchange lower, falling 4.8 percent to euro18.89 ($25.15). The Dublin-based company said both... |
Harsh winter hits Holcim’s volumes07 May 2009, Published under Cement NewsFirst quarter turnover at Holcim declined by 17.9% to SFr4,523m (€3,015m), or by 8.5% on a comparable basis. The operating EBITDA was down by 33.7% to SFr763m (€509m), which represents a 23.0% fall on an underlying basis. In the wake of the colder weather and the recession in North America and Europe, the trading profit fell by 53.5% to SFr343m (€229m) and the net attributable profit dropped by 80.0% to SFr74m (€491m). Net debt at the end of March amounted to SFr16,658m (€11,105m), an incr... |
Lafarge’s European & American operations pull down 1Q results07 May 2009, Published under Cement NewsCement shipments in the quarter were off by 10.3% to 31.3Mt, while turnover from cement declined by 8.6% to €2,335m and the EBITDA emerged 9.5% lower at €573m. The aggregates tonnage was down by 21.6% to 36Mt, generating a turnover 20.7% lower at €368m and a €3m loss at the EBITDA of level, while ready-mixed concrete volume declined by around 5% to 8.8Mm³, representing a turnover of €695m and an EBITDA of €187m. Lafarge’s global gypsum volumes declined by 14.6% to 163Mm², with turnover dow... |