Cement News tagged under: corporate
SKP Securities’ report on Binani Cement11 November 2008, Published under Cement NewsBinani Cement Ltd (BCL) has shown a revenue growth of 42% from Rs 218 crores in Q2 FY08 to Rs 310 crores in Q2 FY09. Binani Cement Ltd. (BCL) is a leading Indian cement manufacturer focused on the key markets in Northern India and Western India. BCL manufacture two kinds of cement variants, OPC and PPC. It has a capacity to manufacture 6 MTPA of cement along with 25 MW coal/lignite based captive power plant (CPP). The company is one of the leading cement producers in Rajasthan with a 13% mar... |
Yanbu Cement owns 25% in new cement firm10 November 2008, Published under Cement NewsSaudi cement producer Yanbu Cement Co owns a 25 per cent stake in cement producer Saudi-UAE Concrete Products Co, which is currently under establishment, according to a contract signed on November 5. The stake represents SAR6m (US$1.6m), out of the SAR24m capital of the new company, YCC managing director, Abdul Rouf Abu Zanada, said in a filing to the Saudi Stock Exchange. |
Italcementi 3Q profit drops 30% to EUR66m07 November 2008, Published under Cement NewsItalcementi SpA said third-quarter profit fell 30 per cent on the depreciation of its stake in Calcestruzzi SpA. Net income fell to EUR65.9m from EUR106.8m in the third quarter of 2007, Rome-based Italcementi said in a stock-exchange statement today. Sales slipped three per cent EUR1.49bn. Italcementi said full-year results will probably fall in line with results from the first nine months. Source: Bloomberg |
Lafarge may be next to trim global expansion plans06 November 2008, Published under Cement NewsAccording to a report by Bloomberg, Lafarge may be the next cement maker to scale back global expansion plans as the US construction slump spreads to markets from Russia to China. Lafarge’s intention is to boost production by 36 per cent with new plants in the four years through 2010. The company may provide an outlook when it reports earnings tomorrow. “It will be very difficult for Lafarge to justify all of next year’s investment plans given current market conditions,’’ said Eric Schnei... |
Indian cement companies feel input cost heat04 November 2008, Published under Cement NewsDriven by increased costs of power and fuel coupled with high coal prices, cement companies across the country face the heat on their earnings margin for the first half of the fiscal. Interestingly, companies in South India seem to have fared better their counterparts in other parts of the country, thereby signalling higher prices and better cost efficiency, according to results announced by companies . The unaudited results declared by cement manufacturers shows Madras Cements, Shree Cemen... |
Chilean firms post drop in first nine months04 November 2008, Published under Cement NewsBío Bío, Polpaico and Lafarge - reported a decrease in profits in the first nine months of 2008 compared to the same year-ago period, according to separate reports filed with the country’s securities regulator SVS. Cementos Bí Bí posted consolidated net profits of 9.25bn pesos (US$14mn), a 40.4% drop from the 15.5bn pesos reported for the same period in 2007. Revenues decreased 2.1% to 264bn pesos, while operating profit dropped 48.3% to 14.3bn pesos. Cemento Polpaico saw consolidated net... |
Adelaide Brighton Ltd adds 3.1 per cent, rising for a fourth consecutive day03 November 2008, Published under Cement NewsAdelaide Brighton Ltd, Australia’s fifth largest Construction Materials company by market capitalisation, added 7c (or 3.1 per cent) to AUD2.34. Compared with the All Ordinaries Index which rose 190.3 points (or 4.8 per cent) on the day, this represented a relative price change of -1.7 per cent. The volume was 0.5 times average trading of 1,072,643 shares. The stock rose for a fourth consecutive day on Monday bringing its four day rise to 19.0c or 8.8 per cent. Volatility: The stock traded ... |
Changes in Board of Management to Dyckerhoff31 October 2008, Published under Cement NewsThe Supervisory Board of Dyckerhoff AG has announced the appointment of Dr. Stefan John for three years as Member of the Management Board effective from June 1, 2008. He will lead the newly created division Business Services with the departments Human Resources and Social Affairs, Law and Insurances, Organizational Development and Compliance, Sustainability and Social Responsibility as well as Group Logistics. In the same meeting, the Supervisory Board decided further to extend the appoi... |
Indocement nine-month net profit up 76%31 October 2008, Published under Cement NewsIndonesia’s second largest cement maker, PT Indocement Tunggal Prakarsa, reported on Friday a 76 per cent rise in net profit, thanks to robust sales growth and foreign exchange gains. The company, owned by HeidelbergCement, said its January-September net income jumped to IDR1.23trn from IDR699.5bn in the year-ago period. Its sales revenue rose 36.6 per cent to IDR7.25trn. Indocement did not elaborate on reason for the improvement in its net income, but the financial statement published on ... |
Fitch lowers Cemex issuer default rating to junk31 October 2008, Published under Cement NewsFitch Ratings reduced its issuer default rating on Cemex SAB to junk status Friday, citing softer-than-expected operating results and higher-than-expected leverage levels due to economic volatility. The ratings agency cut Cemex’s foreign and local currency IDRs to "BB+" from "BBB-" and also downgraded Cemex Espana SA’s IDR to "BB+" from "BBB-." Earlier this month Cemex, one of the world’s largest building materials companies, said it would cut worldwide staff of 60,000 by 10 percent and ... |