Cement News tagged: Corporate
Cemex clears refinancing deal, considers asset sales
Cemex will extend maturities of bank loans by three years after its restructuring offer won acceptance from creditors holding 92.6 per cent of the debt. The offer had to be accepted by 91 per cent of creditors to go through after the threshold was lowered from an initial 95 per cent, and the transaction is expected to become effective in the following weeks, the company said in a statement. ...
Steppe Cement posts first half loss, Kazakhstan
Kazakhstan-based cement producer Steppe Cement Ltd posted a consolidated loss after tax of US$0.1m for the six months ended 30 June 2012. Revenue six months ended June 30 were US$52.16m (2011: $43.06m) while pretax profit was US$391,000 (2011 loss: US$2.84m). The company’s sales volumes increased by two per cent to 615,838t and the average sales price increased from USD72/t to USD86/t during...
DG Khan full-year profit rises, Pakistan
Pakistan cement producer DG Khan Cement reported a profit-after-tax of PKR4.10bn (US$43.3m) for the year ended June 30 2012, compared to PKR170.96, earned in the previous year, according to a statement on Monday. This translated into the earnings per share (EPS) of PKR9.38 from 45 paisas in 2011-12, according to the profit and loss account of the company available with the Karachi Stock Exch...
Domestic demand drives Kohat Cement FY12 sales
Pakistan’s Kohat Cement Company Ltd (KOHC) achieved a 26.5 per cent YoY growth in domestic sales during FY12, outperforming the industry which grew 8.8 per cent. Its exports, however, suffered a steep decline of 29.6 per cent YoY to 273,000t, reducing total growth to 12 per cent. The company achieved a four-year high capacity utilsation rate of 59 per cent, the highest since it started oper...
Oyak Cement to sell stake in Aslan Cemento, Turkey
Military-run business conglomerate Oyak Cement announced on Friday it had applied to the Central Registry Agency to sell an almost 10 per cent stake in subsidiary Aslan Cemento. Oyak owns a 96.85 per cent stake in Aslan and in the announcement it said it would sell 7.18 million units of stake out of a total 70.7 million it holds on the Istanbul Stock Exchange. (Source: Reuters)
China Tianrui Group to issue CNY500m notes
China Tianrui Group Cement Co has said it will issue CNY500m (US$78.9m) worth of medium-term notes with a maturity of three years in the interbank market on 17 September. The company, a leading clinker and cement producer in Henan and Liaoning provinces, said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building. Both value ...
Cement Hranice 2012 outlook, Czech Republic
Despite reporting an increase in 2011 cement sales, Czech cement producer Cement Hranice company expects a decline this year the Euro zone sovereign debt crisis and a continuing fall in construction output. Last year the company increased sales by 14.5 per cent last year to CZK1.69bn (EUR69m) following two years of declining sales due to a downturn in the domestic construction industry. Net...
Holcim: realising growth potential whilst cutting costs
Holcim highlighted its cost cutting programme and the growth potential in its emerging markets at its latest investor and analyst event, which took place on 3-4 September in Zurich, Switzerland. While a global recovery remains elusive, emerging markets continue to grow. Holcim noted its net sales have increased above their 2007 level, from US$22.543bn to US$23.306bn in 2011. However, higher...
PCA announces management changes, USA
Portland Cement Association (PCA) announced management changes designed to shift leadership to Washington, DC, in support of a renewed emphasis on national advocacy efforts in our nation’s capitol. “Over the past 10 years, we have debated the merits of our national association becoming more ‘DC-centric,” said PCA Chairman of the Board Aris Papadopoulos in an announcement of the changes.“The...
Mangalam Cement appoints CFO, India
Mangalam Cement has informed the board of directors at a meeting held on 3 September 2012, that Anil Kumar Mandot, joint president (Commercial), has been appointed as the chief financial officer (CFO) of the company. The information is a part of company's filings submitted to the Bombay Stock Exchange.
West China Cement chairman shares buy positive - DB
Deutsche Bank (DB) says according to Hong Kong Stock Exchange filings West China Cement’s chairman, Zhang Jimin, has been buying back shares for the last few weeks since Aug. 16 (7.2 million shares at a weighted average price of HK$1.20/share). It adds, Zhang's shareholding has increased by 15 bps to 38.53% of the total issued share capital. "We believe the chairman will continue buying shar...
Deutsche upgrades India Cements to buy
Deutsche Bank has upgraded India Cements to "buy" from "hold", while cutting its target price to INR106 from INR120, citing favourable risk-reward on attractive valuations and improving returns on equity profile.
Odra cement works orders new VRM, Poland
Gebr Pfeiffer has been awarded the contract to supply a MPS 3070 BC vertical roller for grinding 46tph of blast-furnace slag for the Odra works situated in Opole, Poland. The slag, ground to 3800cm²/g Blaine, is intended to be used as an additive to the cement. The ordered vertical mill features a main drive with an output of 1350kW for the production rate of 46tph. Exhaust gases produced by...
Huaxin sees 82.3 per cent slide in 1H12 net profit, China
Huaxin Cement said net profit for the first half of 2012 fell 82.3 per cent YoY to CNY95.92m (US$15m). Operating revenue slid 1.53 per cent YoY to CNY5.49bn with basic earnings per share of CNY0.1. Huaxin Cement is 41.6 per cent controlled by Holcim. Last year, the Chinese producer continued its acquisition policy and purchased three works in the Hubei province with a combined capacity of 5...
Yu Shiliang announced as new Sinoma chairman, Chairman
Following the sudden death of Sinoma chairman Tan Zhongming on Sunday, the company has announced that vice chairman Yu Shiliang will succeed him as chair. Tan, who was in his late 50s, reportedly died of a heart attack while in France for a company roadshow. However, a statement by Sinoma said that he passed away “due to illness.” The state-owned company is one of China's five biggest ce...
Lafarge Pakistan Cement swings to profit
Lafarge Pakistan Cement reported profit after tax of PKR498.916m (US$5.3m) in the first half of calandar year 2012 compared to losses of PKR17.539m in same period last year, boosted by a rise in domestic sales and cost optimisation. Net sales for the period stood at PKR4.784bn against PKR3.684bn in 2011. Its administrative and financial cost increased to PKR278.6m and PKR604.662m from PKR22...