Cement News tagged under: corporate
Ultratech Cement director resigns18 September 2008, Published under Cement NewsUltratech Cement Ltd director Santrupt Misra has resigned from the board, while S B Mathur has been appointed additional independent director. Director V T Moorthy will now be considered as an independent director. |
Mandiri provides another IDR150bn non-cash loan18 September 2008, Published under Cement NewsPT Bank Mandiri Tbk agreed to provide additional non cash loan transaction to PT Semen Padang as from IDR75bn into IDR150bn to support the company business. President Director of Bank Mandiri Agus Martowardojo said the additional facility is deemed the company commitment to keep increasing the non cash financing service in addition to the cash financing. "In addition, the company also provides distributor financing with IDR260 billion scheme for Semen Padang distributor both for non cash a... |
Cement shares in freefall18 September 2008, Published under Cement NewsWith financial markets in turmoil and a deteriorating outlook for global construction activity, shares in many of the leading cement companies have tumbled. Of the majors, Cemex has been the worst affected and its shares have hit a new low for the year, with latest trades showing at 18.63 pesos per share, a 48.2 per cent drop from this year’s peak. This compares with similar steep declines of 46.5 per cent for Italcementi, 44.4 per cent for CRH and 42 per cent for Buzzi Unicem. The tw... |
GBL Bought EUR57.55m Worth Of Lafarge Shares Sept 2-516 September 2008, Published under Cement NewsBelgian Financier Albert Frere’s holding company, Groupe Bruxelles Lambert, bought a total of EUR57.55m worth of shares in Lafarge between Sept. 2 and Sept. 5, according to filings Monday with stock market watchdog the AMF. According to the filings, GBL bought EUR8.28m worth of shares at EUR82.78 a share Sept. 2, EUR8.51m worth at EUR85.095 a share Sept. 3, EUR16.53m worth at EUR82.65 a share Sept. 4 and EUR24.23m worth at EUR80.76 a share Sept. 5. GBL also sold EUR500,869 worth of put op... |
CIMA projects higher profit for this year, Malaysia16 September 2008, Published under Cement NewsCement Industries of Malaysia Bhd(CIMA) which registered a pre-tax profit of RM85.4m last year is projecting a higher profit for its financial year ending December 2008, citing a higher demand for cement in the domestic market as the base for its confidence. Managing director, Che Halin Mohd Hashim when met by Bernama said the upcoming economic corridor projects had also boosted demand for cement. While Che Halin could not give the specific profit projected, he said it would be more than l... |
Holcim, Lafarge shares rise on merger rumours16 September 2008, Published under Cement NewsShares in Holcim and Lafarge rose strongly today as speculation swirled that the world’s two largest cement makers could merge. By 6:19 a.m. EDT, shares in Holcim had risen 6.2 per cent to 89.50 Swiss francs, while Lafarge shares had gained 5 percent to 84.65 euros (report Reuters newswires). However, analysts doubted the likelihood of a deal. "This does not make much sense in the cement industry. A merger between two big groups would not benefit either of them. There would be many countrie... |
Brief slowdown in cement sector likely, India15 September 2008, Published under Cement NewsBrokerage house Goldman Sachs is cautious in its outlook on the cement sector as it expects weakness in both demand for cement as well as cement prices. “We believe the industry is on the verge of a downcycle — fundamentals are likely to deteriorate over the next 12-18 months as demand loses steam and supply growth puts pressure on prices in an environment of unprecedented cost inflation,” the brokerage said in its report to clients. Though the long-term outlook for the cement industry is p... |
Peru’s Cementos Lima Says No Sale Talks With Cemex10 September 2008, Published under Cement NewsCementos Lima SA said Tuesday that a report published in a magazine that it was in talks to sell to Cemex was incorrect. Cementos Lima told the Peruvian securities regulatory agency that neither the company nor its majority shareholders had entered into any conversations or negotiations to sell to Cemex nor to any other company. Cementos Lima is the largest cement producer in Peru. |
China National Materials boosts output after merger09 September 2008, Published under Cement NewsZhou Yucheng, CEO of China National Materials Company Limited, reveals that the company will complete merger and acquisition with Ningxia Jiancai to become the biggest cement producer in northern China. China National Materials will have an annual cement output of 32Mt after the merger. Zhou said the rising coke price has put pressure on production cost but a relatively low transportation cost in the north has traded off the increase. He also forecasts that there will be an increase in the ... |
West China Cement pretax profit rises 57 per cent08 September 2008, Published under Cement NewsWest China Cement Ltd. said first-half pretax profit rose 57 per cent to CNY87.7m, while turnover rose 68 per cent to CNY338m due to the two new Lantian production lines that came into production in April and July 2007. The cement production and distribution company said turnover was ahead of budget in March to June, and the sales lost in January and February due to exceptional snow are expected to be recovered by the third quarter. The company said it has been able to pass on the major ef... |