Cement News tagged under: corporate
Mexico, Brazil jump after Obama outlines investment ideas09 December 2008, Published under Cement NewsBrazilian and Mexican stocks surged Monday, propelled by gains in commodity stocks on the prospect that demand for natural resources will increase if the United States embarks on a massive infrastructure program. Brazil’s Bovespa rose 8.3% to 38,284.91, erasing last week’s total loss of 3.4%. Mexico’s IPC index ended 5.4% higher at 21,168.72. The index of the 35 most actively-traded stocks fell 2.2% last week. U.S. President-elect Barack Obama on Saturday said that he planned to launch th... |
Thailand: Siam Cement adapts to change in business climate08 December 2008, Published under Cement NewsThe current economic slump differs from the 1997 crisis in many aspects. But for Siam Cement Group (SCG), the country’s largest industrial conglomerate, it is necessary to revert to a similar strategy: focus on fundamentals and improve efficiency, the Bangkok Post reports. Kan Trakulhoon, the SCG president and chief executive officer, said the group had revised its five-year business plan to shelve investment in peripheral businesses to consolidate its financial position. Its strategy now f... |
Chinese contractors to help build cement plant in Vietnam08 December 2008, Published under Cement NewsChinese contractors will help build a 375,000t cement plant in Vietnam’s northern province Hoa Binh under a contract signed Saturday. The US$28.7m contract was signed between Vietnam’s X18 Cement Joint Stock Company, a key Vietnamese cement supplier under the management of Vietnam’s Ministry of National Defence and three Chinese contractors including Sinoma and Jixin, the two engineering companies, and Hanoi-Beijing construction company. The Chinese contractors are responsible for the supp... |
Bulgaria: Devnya Cement, Investor of the Year 200808 December 2008, Published under Cement NewsOn December 1 2008 Invest Bulgaria Agency, the local investment promotion authority, presented, for the third time, its annual "Investor of the Year 2008" awards in the Central Military Club in Sofia. The Vice-premier and Minister of Foreign Affairs Ivaylo Kalfin, the Minister of Economy and Energy Petar Dimitrov, the Minister of Healthcare Dr. Evgenyi Zhelev, the Executive Director of Invest Bulgaria Agency Dr. Stoyan Stalev, the Ambassadors of Italy, Belgium, Germany, France, Austr... |
Fitch cuts HeidelbergCement to BB-08 December 2008, Published under Cement NewsFitch cut the long-term issuer default rating (IDR) of German cement producer HeidelbergCement AG to BB- from BB+ and put its ratings on "negative" rating watch. Fitch affirmed the B short-term IDR of HeidelbergCement and lowered the senior unsecured rating of its subsidiary Hanson Plc to BB- from BB+ with "negative" rating watch. The action was prompted by the recent news that HeidelbergCement’s major shareholder, the Merckle family, is experiencing financial difficulties, which might af... |
Bail-out refusal – a set-back billionaire Merckle03 December 2008, Published under Cement NewsAdolf Merckle’s hopes for an easy way out of his financial woes were dashed this week when the regional government said the German billionaire, who suffered huge losses from bets on falling share prices, could not receive a state bail-out. The setback gives Mr Merckle little time to find a solution to his financial crisis, as a stand-still agreement with his banks blocking them from making claims is set to end this week. Bankers involved in the talks about a bridge loan for his investment ve... |
Egypt’s ASEC Cement ups stake in Misr Cement Qena01 December 2008, Published under Cement NewsEypt’s ASEC Cement said on Sunday it has increased its stake in Misr Cement Qena to 27.3 per cent from 26.8 per cent with the purchase of an additional 176,576 shares. The shares were bought between Nov. 12-25 at an average price of E£80 (US$14.50) per share, and brought ASEC Cement’s total stake in Misr Cement Qena to over 8.2 million shares. |
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... |