Cement News tagged under: corporate
Egypt’s Amreya Cement net profit increases 44%01 December 2008, Published under Cement NewsThe net profit of Egypt ’s Amreya Cement increased by 44% to reach EGP 287.2m (US$52m) in the nine months to end-September, the Egyptian stock exchange said in a statement without giving details. Investment bank EFG-Hermes forecasted Egypt ’s demand for cement to grow the next three years to approximately 39Mt and 43Mt by next year. Amreya Cement, located at Alexandria’s Borg Al Arab region, is engaged in the production, marketing export of different kinds of cement. |
Austria’s Strabag cuts investment as 2009 uncertain01 December 2008, Published under Cement NewsAustrian builder Strabag said on Friday it will cut its investment by more than half next year after a spree in which it spent the cash raised in last year’s IPO and piled up debt. Strabag did not repeat its target to raise output by 20 percent next year, saying only that output would increase. It did confirm operating earnings would rise "slightly", but said it would review this forecast after the first quarter. The group, one of Europe’s biggest builders and a major player in Russia, rei... |
Bamburi chief set to leave, Kenya01 December 2008, Published under Cement NewsBamburi Cement managing director Michel Puchercos is leaving the company. Mr Puchercos, whose departure was revealed during a board meeting held on Wednesday this week, will relinquish his position on New Year’s Day. "At a board meeting, it was announced that Michel Puchercos will be moving elsewhere in the Lafarge Group and, therefore, will cease to be the managing director with effect from January 1, 2009," a letter to the CEO of Nairobi Stock Exchange said. The letter, dated November 2... |
Eastern Province Cement net profit down28 November 2008, Published under Cement NewsThe net profit of Saudi cement producer Eastern Province Cement Company (EPC) slipped to SAR 358m (US$95.4m) in the first nine months of 2008 from SAR 430m in the same period of 2007, or a decrease of 16.5%, the company said in a filing to the Saudi Stock Exchange. EPC said the decrease was due to a halt in the exports as a result of the Government’s ban on cement exports issued in the second quarter of 2008, coupled with a slowdown in local demand. The earnings per share (EPS) stood at SA... |
Buzzi Unicem director buys27 November 2008, Published under Cement NewsBuzzi Unicem Rnc director Franco Buzzi bought 2,000 shares worth Euro11,110 on November 21, 2008. The last price was Euro5.56. The share price decreased 7.50 Eurocents (or 1.3%) to Euro5.70, ending a two-day streak of rises. |
Cementir Holding director buys27 November 2008, Published under Cement NewsCementir Holding director Riccardo Nicolini bought 6,335 shares worth Euro12,860 on November 20, 2008. The last price was Euro2.03. The share price weakened 4.75 Eurocents (or 2.3%) to Euro2.05, ending a three-day streak of rises. |
Alexandria Cement reports 9 months financial results26 November 2008, Published under Cement NewsAlexandria Cement -(ALEX) reports 9 months consolidated financial results for the period from 01/01/2008 to 30/09/2008 posting a net profit of L.E 129,782,542. Compared against net profit of L.E 132,292,057 for the period from 01/01/2007 to 30/09/2007. |
Sichuan Cement to buy out peer25 November 2008, Published under Cement NewsSichuan Golden Summit (Group) Joint-Stock, a cement manufacturer in China, said in an announcement that it plans to buy out a small peer in Renshou county named the People’s Special Cement Company in Sichuan province. Sichuan Golden Summit has entered into agreements with three shareholders of the target, including two companies in Fuyang city and Zhejiang province and a natural person, to purchase a 50.84 per cent, 33.36 per cent and 15.80 per cent stake from them at CNY 127.20m, CNY 83.40... |
Costly loan holds back East African Portland Cement25 November 2008, Published under Cement NewsEast African Portland Cement is not making much progress in its negotiations with Treasury over a costly loan the company is currently servicing in Japanese yen. Wary of the effects of the strengthening of the Japanese currency against the Kenya shilling on its revenue, the company’s management is exploring ways of shielding the loan’s repayment programme against currency fluctuations. Among the options that the listed cement manufacturer is exploring include investing in Treasury Bills an... |
Yanbu Cement 9-mo net profit down 20% YoY24 November 2008, Published under Cement NewsThe net profit of Saudi cement producer Yanbu Cement Co (YCC) dropped to SAR 439m (US$117m) for the first nine months of 2008 from SAR 551 million in the same period of 2007, equal to a decrease of 20%, YCC managing director, Abdul Rouf Abu Zanada, said in a filing to the Saudi Stock Exchange. YCC attributed the decrease to lower sales due to planned maintenance activities. The earnings per share (EPS) stood at SAR 4.19 for January to September 2008, down from SAR 5.24 a year ago. The com... |