Cement News tagged under: corporate
Holcim Malaysia poised for higher sales despite economic slowdown02 January 2009, Published under Cement NewsHolcim Malaysia Sdn Bhd expects to record better sales in 2008 despite a slowdown since the third quarter. Its chief executive officer Mahanama Ralapanawa said in New Delhi that the cement maker was expected to hit sales of 700,000t compared with 575,000t in 2007. He said that the company, which has a plant in Pasir Gudang, was recording sales of between 60,000 and 70,000t until August last year but by year-end, the figure had dropped to about 50,000t a month. He told StarBiz that the com... |
Cemex: canary Island asset sale completed30 December 2008, Published under Cement NewsCemex announced this week that it has completed the previously-announced sale of its Canary Islands operations to several Spanish subsidiaries of Cimpor Cimentos de Portugal SGPS, S.A. for €162 million euros (approximately US$226.8 million dollars), €5 million of which is being held in escrow to cover any price adjustments on account of possible contingencies – in addition to a separate payment for the working capital. Proceeds from the sale will be used to reduce debt. JP Morgan and RB... |
HeidelbergCement makes gains30 December 2008, Published under Cement NewsGerman stocks r ose for the first time in four days, led by MAN AG on speculation Europe’s third- largest truckmaker will raise its stake in Swedish competitor Scania AB. Germany’s DAX is still heading for a 42 percent decline this year, the first annual drop since 2002, as more than $1 trillion in credit-related losses and writedowns at finance firms worldwide push the economy toward a recession. “Trading volume is very low this week,” said Matthias Jasper h ead of equities a... |
CRH implements previously announced Board changes30 December 2008, Published under Cement NewsCRH plc, the international building materials group, confirms that the following Board changes, announced during 2008, took effect from 1 January 2009. Mr. Myles Lee succeeded Mr. Liam O’Mahony as Group Chief Executive. Mr. O’Mahony has accepted an invitation to continue as a member of the Board in a non-executive capacity. Mr. Albert Manifold and Mr. Glenn Culpepper joined the CRH Board – Mr. Manifold taking on the new role of Group Chief Operating Officer and Mr. Culpepper succeeding Mr. ... |
Turkish Oyak to cut output29 December 2008, Published under Cement NewsOrdu Yardımlaşma Kurumu, the Turkish army pension fund known as Oyak, expects cement output and sales to fall 10 per cent next year, business daily Referans said Friday, citing Celal Çağlar, head of Oyak’s cement and auto division. Oyak’s three publicly traded cement units are Ünye Çimento, Bolu Çimento, Adana Çimento and Mardin Çimento. |
Heracles posts dividends29 December 2008, Published under Cement NewsShareholders of Heracles Cement, majority owned by France’s Lafarge, decided a 32 million Euro or 0.405 euro per share capital return, Greece’s financial daily Imerisia reported. The company’s shareholders also approved the distribution of a 0.189 Euro per share interim dividend for 2008. |
Credit Suisse exits Binani29 December 2008, Published under Cement NewsVinod Juneja, Managing Director, Binani Cement, India, said that Credit Suisse has sold its 9.11 per cent stake which it held via a Mauritius-based company Ganesha Prime Holdings to Stansen Holdings Private Limited an independent Singapore-based company. Credit Suisse had bought the stake at Rs 70-73 per share. Earlier, JP Morgan was holding a 25 per cent stake in the company. It had since diluted its 10 per cent stake post IPO and currently holds 15 per cent. Juneda also added that s... |
HeidelbergCement increases 2.2 per cent on low volume, rising for a second day, a 2-day rise of 14.4 per cent24 December 2008, Published under Cement NewsHeidelbergCement (HEI.F), Germany’s largest Building Materials company by market capitalisation, increased 66.0 Eurocents (or 2.2 per cent) to €30.90. Compared with the DAX index which fell 9.6 points (or 0.2 per cent) on the day, this represented a relative price change of 2.4 per cent. The aggregate volume was 0.2 times average trading of 57,653 shares. The stock rose for a second day on Tuesday bringing its two-day rise to €3.89 or 14.4 per cent. Volatility: The stock traded between an i... |
Cementos Portland Valderrivas dips 0.5 per cent, trailing 74.8 per cent of stocks24 December 2008, Published under Cement NewsCementos Portland Valderrivas (CPL.MA), Spain’s fourth largest Construction company by market capitalisation, dipped 12 Eurocent (or 0.5 per cent) to €23.42. In the Spanish market of 203 stocks, the stock has a six-month relative strength of 25 indicating it is trailing 75 per cent of the market. The stock fell for a third day on Tuesday bringing its three-day fall to 84 Eurocent or 3.5 per cent. Compared with the IBEX35 index which fell 30.4 points (or 0.3 per cent) on the day, this represe... |
Cemex shares solidly higher; steel outlooks lowered24 December 2008, Published under Cement NewsMexican stocks outperformed other Latin American equities Tuesday, with help from cement maker Cemex SA on news that its debt-refinancing troubles are easing. Mexico’s IPC index rose 0.5 per cent to 22,174.26, nearly winning back the 0.7 per cent that it lost in the previous session. Shares of Cemex (CX, US) jumped five per cent following the company’s announcement that its lenders have agreed to plans to refinance US$2.2bn in loans due next year and in early 2010. It also received an exte... |