Cement News tagged: Corporate
Taiheiyo wins Bangladesh logo case
Japanese cement producer Taiheiyo Cement Corp has won a court case in Bangladesh for the use of its logo by local cement manufacturers. The Bangladesh District Judge, Dhaka, issued an order on 29 January 2013 stating that the "Defendants Nos 1-4 (Bengal Tiger Cement Industries Ltd and Others) be restrained from using the Trademark and Trade Name of the Plaintiff-petitioner (Taiheiyo Cement ...
Lagan Group responds to threat over proposed merger
The Lagan Group has called in the Police Service of Northern Ireland (PSNI) to investigate the circumstances surrounding the receipt of a package containing a bullet which was addressed to the company’s Chief Executive, Kevin Lagan, the company said in a statement. Lagan Cement Group recently signed a memorandum of understanding with Quinn Building Products that may lead to a joint venture ...
Temasek Holdings in line for Lafarge India stake?
Temasek Holdings is reportedly among those shortlisted by Lafarge as a potential buyer for a minority stake in its Indian arm. Lafarge India plans to sell a 20-30 per cent stake to raise INR1325m (US$250m) to fund its INR6000 crore expansion, according to reports by the Economic Times (ET) of India. The sale of the stake is slated for completion by March. Lafarge has decided not to raise m...
Saudi Cement net profit rises 32.3% in 2012
Saudi Cement Company said today its net profit for 2012 rose 32.3 per cent YoY to SAR1.1bn (US$293m) thanks to higher demand. Earnings per share stood at SAR7.2, up from SAR5.43 a year earlier. The operating profit rose to SAR1.14bn in the 12 months to December 2012 from SAR865.1m in 2011.
Cementos Molins cuts back in Spain while expanding in foreign markets
As the Spanish construction crisis shows no sign of abatement, Cementos Molins expects to continue the adjustment in its Spanish workforce. The company’s vice-president and CEO Joan Molins said the company would be restructuring its operations, cutting back in Spain and increasingly shifting its focus to foreign markets. He announced new projects in Uruguay, Brazil, Mexico and Tunisia. Ove...
Portland Valderrivas explores sale of Cemento Lemona to CRH
Spain’s Cementos Portland Valderrivas is currently considering the sale of its Basque subsidiary Cementos Lemona to the Irish multinational CRH. Yesterday, CRH directors visited the facilities of Prefabricades Lemona. This follows a visit last month to the Lemona’s quarries and cement plant, according to Spanish daily El País. Sources indicate that after months of negotiation, the acquis...
FLSmidth orders up 15% while EBITDA rises 9% in 2012
In its newly-released 2012 annual report, Denmark-based cement plant maker FLSmidth & Co A/S announced a 15 per cent increase in its order intake, bringing the figure to DKK27.727bn (US$4.98bn) in 2012. Its revenues increased by over a fifth from DKK27.136bn to DKK29.451bn. The company also reported an EBITDA rise of nine per cent to DKK2.759bn, giving an EBITDA margin of 11.1 per cent, slight...
The Philippines: Southeast Asia Cement reports eightfold profit growth in 2012
Southeast Asia Cement Holdings Inc (Seacem) grew its profits by more than eightfold last year, the company said. "The board of directors approved the separate audited financial statements of the corporation for the fiscal year ended 31 December 2012, showing a profit for the year of PHP3753m (US$92.2m) for the parent company," Seacem said. Last year's profits are a big jump from the PHP449m ...
India: Orient Paper & Industries' Cement sales at 317,065t in January 2013
Orient Paper & Industries Ltd has reported that the operational performance of the company's cement division for January 2013 was 315,997t, while domestic cement sales for the month were at 317,065t. The Orient Paper & Industries Ltd stock was trading at INR73, down by INR0.05 or 0.07 per cent. The stock hit an intraday high of INR74.75 and low of INR71.10.
Buzzi Unicem: Russia and America perform well
Buzzi Unicem turnover edged ahead by 0.9 per cent last year to €2813m, of which Dyckerhoff contributed an almost unchanged €1603m. The underlying EBITDA, which will be announced on 28 March, is estimated to be around €450m. Net debt at the end of December had been reduced by 1.6 per cent to €1125m. Group cement deliveries declined by 3.4 per cent last year to 27.3Mt, but they were ahead in the...
Oman: Raysut Cement's profits rise
Raysut Cement Co (RCC), the sultanate's biggest cement producer, announced a 64.1 per cent growth in net profit at OMR24.53m (US$63.7m) for 2012, against OMR14.95m posted for the previous year. The company said its revenue also moved up to OMR92.8m from OMR83.81m , while cost of sales was edged up to OMR62.88m from OMR61.86m. "Net profit of OMR7.7m for the fourth quarter (65 per cent YoY g...
Cemex full-year turnover eases, EBITDA improves
Cemex has reported its full-year 2012 results which show decline in turnover but advance in EBITDA. Net debt is reduced but interest charge and gearing rise. Cemex' turnover eased by 1.5 per cent in 2012 to US$14,983.8m, but EBITDA did improve by 10.2 per cent to US$2614.7m and the trading profit advanced by 35.3 per cent to US$1308m, having recovered by 12.2 per cent in the previous year f...
ACC sees 49 per cent drop in quarterly profit
India’s second largest cement producer ACC reported a 49 per cent YoY drop in net profit for the third quarter of the current fiscal. The company, in which Swiss cement major Holcim owns a 50.3 per cent stake, reported a net profit of INR2.39bn compared with INR4.7bn a year earlier for the October-December 2012 period. The year-ago number included an exceptional gain for a tax write-back of...
Earthquake reconstruction efforts boost Sumitomo Osaka’s nine month operating profit
Sumitomo Osaka Cement is expected to report a strong gain in operating profit for the first nine months of the fiscal year on the back of earthquake reconstruction efforts. The company is expecting a 90 per cent YoY increase in consolidated operating profit to about JPY9bn for the nine months ended 31 December 2012. This would represent the highest figure for the April-December period in fiv...
Lafarge India plans bond issue – report
Lafarge India plans to raise INR500 crore through a bond issue, the Economic Times (ET) of India has reported. "The company will raise the bonds in tenors of two-three years," two people familiar with the development told ET. "The coupon may be anywhere around 9.15-9.20 per cent for these bonds, since they are not frequent issuers," said a bond broker from a Mumbai-based brokerage. India Ra...
Prosperity Minerals to dispose of its stake in TCC Liaoning, China
Prosperity Minerals has signed a conditional sale and purchase agreement with TCC International Holdings Ltd to sell its 16.11 per cent interest in TCC Liaoning for CNY144.5m (approximately US$23m). The company said in a statement that the completion of the disposal is subject to TCC International obtaining the necessary approvals from the Taiwan Investment Commission and its compliance wi...