Cement News tagged under: corporate
Mexico’s Cemex shares surge after US removes tariffs03 April 2009, Published under Cement NewsShares in Mexico’s Cemex surged on Thursday after the United States removed anti-dumping tariffs on Mexican cement and as investors hoped Cemex, the top cement producer in the United States, would soon refinance its debt. Cemex jumped 13 per cent to 10.50 pesos, while its U.S.-traded shares gained 17 per cent to US$7.77. The Mexican stock exchange briefly suspended trading after its stock rose more than 15 per cent. The stock also rose on expectations that Cemex, which faces looming dollar... |
Holcim Cesko increases sales by 5 pct in 200802 April 2009, Published under Cement NewsHolcim Cesko, Czech Republic’s leading producer of cement, raised sales revenues on own products and services by 5 per cent year-on-year to CZK 2.5 bln in 2008, chairman of the company’s board of directors Roland van Wijnen said at a press conference Tuesday. Last year, Holcim sold 876,000 tonnes of cement, down by 5% against 2007, which the firm said was due to lower export. By contrast, sales of gravel rose by 13% to 1.443 million tonnes. Holcim sold 440,000 cubic meters of concret... |
Cementos Argos to Reduce Debt to $900 Million02 April 2009, Published under Cement NewsColombia’s biggest cement maker, Cementos Argos, said its net debt will fall to about $900 million after receiving payment from an asset sale, according to Bloomberg reports. Argos received $300 million from Brazil’s Cia. Vale do Rio Doce for coal export operations, reducing the company’s net debt from $1.2 billion, it wrote in a statement. The sale of coal mines and railroad rights to Vale, in a deal agreed to in December, includes an additional payment estimated at $73 mill... |
Cemex jumps on bets fed swap may help financing02 April 2009, Published under Cement NewsCemex SAB, the Mexican cement maker currently in talks with creditors to refinance $14.5 billion of debt, saw its stocks rise after the central bank said it will tap a $30 billion swap line with the Federal Reserve to help companies meet financing needs, according to reports by Bloomberg. Cemex gained 4.4 percent to 9.31 pesos in Mexico City trading, the highest since February 24. The American depositary receipts increased 6.2 percent to $6.64 in New York. Cemex shelved a pla... |
Suez Cement 2008 profit up six per cent01 April 2009, Published under Cement NewsEgyptian Suez Cement posted a six per cent rise in 2008 net profit to E£1.04bn, the stock exchange said on Tuesday. Egypt’s second largest cement maker, Misr Beni Suef Cement, posted a 4.8 per cent rise in full-year profit to E£202m on Sunday. Last month, Egypt announced measures to control the retail price of cement, requiring producers to fix a maximum price at every stage of the distribution process. Last August, executives at a number of Egyptian cement firms were fined E£10m each for... |
Kenya’s ARM 2008 profit jumps 14 per cent01 April 2009, Published under Cement NewsKenya’s Athi River Mining, the country’s third-biggest cement maker, said on Tuesday 2008 pretax profit rose 14 per cent helped by increased exports to neighbouring countries. Pretax profit rose to KES705m (US$8.75m) from KES620m the previous year, as turnover rose 19 percent to KES4.6bn. "Despite the difficulties in Kenya, we increased our turnover. We are confident that we will be able to maintain and improve our performance in 2009," Surendra Bhatia, ARM’s deputy managing director, told... |
Ambuja Cements aims to double capacity, India01 April 2009, Published under Cement NewsAmbuja Cements, part of the Holcim group, is planning to double its capacity to 35Mt in the next five years, Business Standard reports. At a time when other comparatively smaller players are doubling and even tripling their capacities in the next few years, it is crucial for Ambuja to maintain its presence in the domestic market said a company official. “In another two years time, we will be having a capacity of 27Mt. And again two years later, we can go for another 10Mt to reach around 35... |
Cemex advancing in resolving problems31 March 2009, Published under Cement NewsCemex is "advancing well" toward resolving its financial problems, Mexican Finance Minister Agustin Carstens said on Saturday. Cemex, is dealing with massive debt and the weak U.S. economy and analysts have warned it could run out of cash by summer if it does not renegotiate millions of dollars in maturing obligations. "Cemex is advancing well and will be able to satisfactorily deal with its problems," Carstens told reporters on the sidelines of the Inter-American Development Bank meeting ... |
Vulcan realigns businesses into two regions31 March 2009, Published under Cement NewsVulcan is realigning its businesses into two regions. The East Region will include the states of Pennsylvania, Maryland, Virginia, North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Arkansas, Louisiana and Texas as well as Canada and Mexico. The East Region will include all of the businesses and product lines of its Mideast, Southeast, Southern & Gulf Coast, Southwest, Florida Rock and Northern Concrete Divisions. The East Region will be headed by Danny Shepherd, Senior ... |
Hilal Cement 2008 net profit drops to US$2.2m30 March 2009, Published under Cement NewsKuwaiti cement producer Hilal Cement registered a decline in its net profit to KWD 684,321 (USD 2.2m in the first nine months of 2008 from KWD 6.6m a year earlier, the company said today in a filing to the Kuwait Stock Exchange (KSE). The earnings per share (EPS) stood at 12 fils in 2008, versus 115 fils in 2007. The company’s total assets rose to KWD 22.7 million at end-December 2008 from KWD 18.9 million a year ago. The board of directors has recommended a 10% bonus issue, at a rate of 1... |