Cement News tagged under: corporate
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... |
Cement output at Aditya Birla group cos, ACC dips in Aug08 September 2008, Published under Cement NewsCement production at the Aditya Birla Group companies – Grasim Industries and UltraTech Cement – was down 8.87 per cent at 2.12Mt in August. Dispatches dipped 5.39 per cent to 2.19Mt compared with the same period last year. However, between April and August, the output was up 1.11 per cent at 12.62Mt against 12.48Mt in the same period last year while dispatches grew 1.51 per cent at 12.6Mt (12.41Mt). ACC, has reported 5 per cent fall in production at 1.52 mt in August against 1.60 mt i... |
Holcim Raises Stake in Serbian Unit to 99.40%05 September 2008, Published under Cement NewsHolcim said it has raised its stake in its Serbian unit to 99.40% after a takeover offer and will squeeze out the remaining minority shareholders. Holcim intends to acquire the remaining 0.60% using its legal right to a squeeze-out, the company said in a statement to Serbia’s Central Securities Depository and Clearing House on Wednesday. It is offering to pay 4,600 dinars ($86/60 euro) per share, on par with the takeover price. The bid expires September 16. The Serbian company’s shares l... |
China cement producers upbeat on growth04 September 2008, Published under Cement NewsMainland cement companies are bullish about industry growth after reporting strong net profits for the first six months of the year. China National Materials (Sinoma), the world’s largest cement engineering service provider, said net profit grew 75.5 per cent from a year earlier to CNY295.23m (HK$337.72m) on an increasing number of overseas projects and higher sales prices. Revenue rose 26.76 per cent to CNY10.9bn. No interim dividend was recommended. "We aim at becoming the largest ce... |
Turkey’s Akcansa targets US$715m turnover in 200803 September 2008, Published under Cement NewsTurkish cement producer Akcansa is targeting revenue of over TRL850m (US$715m) in 2008, the general manager of the company Hakan Gurdal said on Tuesday. The company, which is owned by Sabanci Holding and Heidelberg Cement Group, had sales of TRL690.1m in 2007. Akcansa’s first-half net profit fell 31 per cent to TRL69.97m as sales rose 18 per cent to TRL405m. |
Madras Cements to issue bonus shares, India02 September 2008, Published under Cement NewsCement manufacturer Madras Cements tosay said it will issue bonus shares to the existing shareholders in the ratio of 1:1 and has decided to opt for stock-split. The shareholders of the company took a decision to this effect at its annual general meeting held on August 11, the Tamil Nadu-based firm today said in a filing to the Bombay Stock Exchange. The shareholders resolved to issue one fully paid bonus equity share for each share held by the existing members as on a date to be determine... |