Cement News tagged: Corporate
Cemex Espana increases offer for Readymix, Ireland
The Spanish unit of Cemex has increased its takeover bid for Readymix of Ireland by 13.6 per cent from EUR0.22/share to EUR0.25/share, the target company said in a statement on Monday. Cemex, which already owns 60 per cent of the Irish business, made the “possible offer” to buy the remaining 40 per cent of Readymix shares that it does not own last month through a Spanish subsidiary. A st...
UltraTech Cement to take control of Star Cement?
UltraTech Cement is looking to purchase its partner’s stake in Star Cement to take full control of the Dubai-based cement producer, sources familiar with the deal have said, adding to the rumour mill that other UAE producers are ripe acquistion targets. "The group has an option to purchase the local partner's stake when they bought the majority control company from Dubai-based ETA Star Grou...
Italcementi hit by lower Egyptian volumes and prices
Italcementi's full year 2011 results have been impacted by its Egyptian operations which saw lower volumes and prices as the outlook for region remains uncertain. Italcementi’s turnover edged ahead by 1.3% last year to €4720.5m, but declined by exactly the same percentage on a comparable basis. Group cement shipments were down by 1.9% to 51.1Mt and the turnover from cement fell by 7.8% to €3...
Vicat sees generally favourable environments
Vicat’s turnover increased by 12.5% last year to €2265.5m, which represents an underlying improvement of 9.6%. The turnover in cement improved by 10.1% to €1137.6m and aggregates and concrete sales rose by 14.2% to €818.0m. Other activities increased turnover by 17.4% to €309.9m. Cement accounted for 52.1% of turnover, slightly lower than the 53.0% seen in 2010, but exactly the same as in 200...
Siam City Cement 2012 growth forecast
Siam City Cement Co (SCCC), Thailand’s second largest cement producer, posted 4Q11 net profit of THB252m, down 55.3 per cent YoY and 70.9 per cent QoQ. The decline is attributed to lower export sales and higher operating costs due to the Thai flooding, extra expenses from deferred tax adjustments of THB291m and extra expenses from reassessment of employees' pension of Bt150m. For 2012, analys...
India Cements expected to see rise in sales and net profit
India Cements is expected to post net sales of around INR9.92bn compared to INR7.18bn a year ago due to higher sales and improved realisations. However, analysts are divided on net profit estimates. At the lower end, Motilal Oswal sees the company’s net profit at INR327m while at the higher end, Bank of America Merrill Lynch, expects it to be INR884m. During the corresponding quarter last ye...
Shree Digvijay Cement Company appoints director, India
Shree Digvijay Cement Company has appointed Luis Miguel Da Ponte Alves Fernandes, Antonio Carlos Custodio Do Morais Varela, as additional directors of the company with effect from 2 February 2012. Relieved Chain Singh Jasol from the office of the whole-time director of the company with effect from February 02, 2012. Jasol will continue to work with the company as vice president (Personnel, A...
Eagle's results hit by negative arbitration award
Including its share of the jointly-owned Texas Lehigh Cement, Eagle Materials turnover for the first nine months to 31 December, rose 4.7% to US$442.7m. Trading profit, before corporate overheads, declined 13.7% to US$49.4m, of which cement contributed 79.9%. The actual trading profit before exceptional items fell by 17.6% to US$36.8m. After a net interest charge 1.9% higher at US$13.4m an...
Lafarge to cut 460 jobs globally
Lafarge, said it would cut 460 jobs globally as part of a corporate restructure. The French company said 90 roles would go in France, with the others stripped out of worldwide corporate functions, according to reports in the Daily Telegraph.
HeidelbergCement extends its €3bn credit facility
HeidelbergCement has secured an extension of its €3bn syndicated credit facility, which was due to mature at the end of 2013, until 31 December 2015. All 17 original lenders have confirmed their participation and two additional lenders joined the syndicate. The €3bn multicurrency credit facility is intended as liquidity back-up and can be used for cash drawings and guarantees. Under the amen...
Semen Baturaja green light for listing, Indonesia
The Indonesian government has approved PT Semen Baturaja as the sole state-owned enterprises that can perform an initial public offering in 2012.
Holcim acquires stake in Cementval Building Materials, Spain
Holcim has acquired a 19.99 per cent of the new venture Cementval Building Materials. The remaining 80.01 per cent is in the hands of Corporation F. Turia. The Valencian Turia Group and Holcim Spain have maintained an association of almost two years in Cementval, (51 per cent by Turia and 49 per cent by Holcim Spain) until last December On 23 January, Holcim acquired its additional stake...
Attock Cement profit rises, Pakistan
Attock Cement Pakistan Ltd (APCL) has reported a YoY rise in first-half net profit of 116 per cent due to a rise in prices and an exemption in taxes. The Business Recorder notes that the company posted net profit of to PKR507m for the July-December period of the current fiscal against PKR235m in the same period last year. This translates into earnings per share (EPS) of PKR5.86 this year co...
Tianshan Cement to issue new shares, China
Xinjian Tianshan Cement, based in Northwestern China’s Xinjiang Uygur Autonomous Region, announced that 100 million of its new shares will be tradable on 3 February, China Business Newswire reports. The company said on 11 January that it would issue no more than 120 million new shares to raise up to CNY2.8bn. After the issuance the company has 488 million shares.
New Lafarge Romania CEO
Lafarge’s Romania unit has announced that Sonia Artinian has been appointed its country CEO as of 1 January 2012. Ms Artinian is responsible for Lafarge’s cement, aggregates and concrete business in Romania, Lafarge Romania said in a press release on Tuesday. Ms Artinian has worked for Lafarge since 2008. She replaces Philippe Questiaux, who had managed Lafarge’s cement activity in Romania...
Eurocement appointment, Russia
Vladimir Petrov has been appointed as General Director of Pikalevskiy Cement, a part of Eurocement Group of Russia. Pikalevskiy Cement operates in the Leningrad region.