Cement News tagged under: corporate
Taiheiyo Cement seen missing FY08 profit target29 September 2008, Published under Cement NewsAnalysts’ net profit projection for Taiheiyo Cement Corp for the current fiscal year is 64% lower than the firm’s own projection, the largest discrepancy among firms in a Nikkei study. Taiheiyo Cement predicts that net profit will fall 51% on the year to 10 billion yen in fiscal 2008. But analysts project a drop of more than 80% to 3.6 billion yen on a continued slump in demand for condominiums in Japan due to tougher building standards and an economic slowdown. Weak housing dema... |
Unye to participate in capital increase of Unye Cemento26 September 2008, Published under Cement NewsCement producer Unye Cimento informs that it will participate in the capital increase of its subsidiary Unye Cem Srl, based in Romania. The statement issued to the Istanbul Stock Exchange by Unye Cimento notes that Unye Cem Srl will lift its capital to EUR 9.15mn from EUR 5m. Unye Cimento will contribute to the capital increase with EUR 4.15m. |
Unye to participate in capital increase of Unye Cemento26 September 2008, Published under Cement NewsCement producer Unye Cimento informs that it will participate in the capital increase of its subsidiary Unye Cem Srl, based in Romania. The statement issued to the Istanbul Stock Exchange by Unye Cimento notes that Unye Cem Srl will lift its capital to EUR 9.15mn from EUR 5m. Unye Cimento will contribute to the capital increase with EUR 4.15m. |
Southeast Asia cement declines in Manila on competition outlook25 September 2008, Published under Cement NewsSoutheast Asia Cement Holdings Inc. fell the most in eight months in Manila trading on concern a government plan to remove tariffs on the construction material will boost imports and squeeze margins. Seacem, as the nation’s third-largest cement producer by value is known, sank 6.7 per cent to 70 centavos at 9:59 a.m. local time, the biggest decline since Jan. 22. Filinvest Land Inc, the nation’s fourth-biggest builder by value, led developers higher on speculation scrapping the tariffs on i... |
Mexican, Brazilian stocks down as US bailout Is debated24 September 2008, Published under Cement NewsMexican equities fell Monday, with investors cautiously assessing the US government proposal seeking to end to the financial crisis that has gripped the global credit markets (reports Dow Jones newswires). In Mexico City, the IPC dropped 1.5% to 25,323.40. Cemex shares fell 2.4%. Zacks Investment Research analyst Claudio Freitas kept a sell rating on the cement maker, citing the company’s weak quarterly results and continued weak cement volumes in Spain, the US and Mexican markets. "We beli... |
Mexican stocks fall23 September 2008, Published under Cement NewsMexican stocks fell sharply on Monday on concerns a costly US bailout plan for troubled financial institutions may not resuscitate a slumping economy and surging oil prices added to worries about growth. The benchmark IPC stock index closed 2.21 percent lower at 25,131.91 points. The peso firmed 0.4 per cent as the greenback declined broadly on worries the credit bailout would bloat the already massive U.S. deficit. The proposal would amount to the costliest US bailout for financial compan... |
Holcim drops after being pushed higher by Eurocement23 September 2008, Published under Cement NewsHolcim dropped the most in at least 18 years in Zurich trading after hopes of a takeover by Russian investor Eurocement Group faded. Holcim slid back 18 per cent to 90 Swiss francs. Today’s decline pared the stock’s 24 per cent advance on Sept. 19, when Russia’s largest cement company announced it had taken a 6.52 percent stake. Eurocement, owned by Filaret Galchev, has informed Holcim that the stake is a long-term investment and they don’t plan to seek control. We have invested in Holci... |
European markets likely to open lower on weak global signals23 September 2008, Published under Cement NewsMost major European markets area likely to extend their losses Tuesday, tracking Wall Street’s plunge overnight amid uncertainties related to the US$700bn bailout plan for failing financial firms. The major Asian markets have turned mixed after a weak start on Tuesday. Additionally, the major European index futures are showing weakness (reports Real time Traders). Economic reports scheduled for release in Europe include the French consumer spending, the Italian consumer confidence index, an... |
Thailand: Brokers bullish on Siam City Cement22 September 2008, Published under Cement NewsSiam City Cement (SCCC), the country’s second biggest cement-producer, is expected to show solid earnings growth over the next two years despite higher operation costs, The Nation reports. Capital Nomura Securities (CNS) revised its buy rating for SCCC shares though it was being oversold with bad news priced in. The SCCC stock on Friday closed at Bt166, up 3.11 per cent from the previous trading day. The broker expected demand for domestic cement to increase by two per cent during 2009-201... |
Semen Gresik expects earnings to rise 15 per cent18 September 2008, Published under Cement NewsPT Semen Gresik estimates its income by the end of this year will reach Rp11trn (US$1.2bn) or up by 15 per cent from around Rp9.5trn last year, the company’s chief said. "In the second semester of this year, demand has been low but it is expected to rise again in September and remain high until year end," the company’s president director, Dwi Sutjipto, said. Accordingly, the company hoped its net profit this year would at least be the same as last year, he said. Dwi said the company’s fin... |