Cement News tagged under: corporate
Shriram wins cement plant order21 September 2010, Published under Cement NewsShriram EPC Ltd has been awarded an order from Shalivahana Cement Industries for the establishment of a cement plant. The 2.6Mta cement plant, along with 2Mta clinker production unit, is to come up in Adilabad district of Andhra Pradesh. It is expected to be commissioned in 30 months. Among other orders is for setting up a 12MW power plant based on waste heat recovery from Seven Star Steel Ltd in Orissa. The INR 48 crore project is expected to be completed in 18 months. |
Dalmia Cement changes its name to Dalmia Bharat Sugar21 September 2010, Published under Cement NewsThe Scheme of Demerger approved by shareholders of Dalmia Cement (Bharat) Limited on June 2nd 2010, to undertake split of the businesses in two entities, one the existing entity to house integrated Sugar Business and the new entity Dalmia Bharat Enterprise Limited (DBEL) to house Cement and other businesses, has been approved by Madras High Court on 29th July, 2010. Pursuant to the court order the Scheme has been filed with the Stock Exchanges and Registrar of the Companies on 1st September... |
FLSmidth to achieve BBBEE status in South Africa20 September 2010, Published under Cement NewsFLSmidth has signed an agreement to acquire the majority ownership of Roymec (Pty) Limited, located north of Johannesburg, South Africa. Roymec is an accredited contributor under South Africa’s Broad-Based Black Economic Empowerment (BBBEE) Act and is in line with the ownership requirements. FLSmidth will acquire 74% of the company share capital for a total price of DKK 142m. The remaining 26% is held by Tamela Roymec SPV (Pty). Roymec’s revenue in 2009 was DKK 438m and the company’s earni... |
Kuwait Portland Cement sees 3Q net profit at US$17.4m17 September 2010, Published under Cement NewsCement trader Kuwait Portland Cement expects a net profit of KWD 5m (US$17.4m) for the third quarter of 2010, local Al Watan daily reported citing sources close to the company. The earnings per share (EPS) are projected to reach 62 fils. Last month, the company said it booked a net profit of KWD 11.1m for the first half of 2010, up from KWD10.1m a year ago. |
BBMG: to issue CNY2bn worth of 5-year medium-term notes17 September 2010, Published under Cement NewsCement company BBMG Corp said Thursday it will issue CNY2 billion worth of five-year notes in China, in the first tranche of a CNY2.8bn medium-term note issuance. The company said the coupon will be determined after book-building is completed. It said it will make a further announcement on the issue Friday. |
China’s energy moves to lift cement16 September 2010, Published under Cement NewsMorgan Stanley says China’s recent move to cut power to meet emission targets reinforces house’s confidence that Beijing much more serious about restructuring energy-inefficient industries; power cuts expected to result in lower supply which will support prices of China steel, cement stocks. "We are becoming more confident that there is stronger political will to push ahead with the permanent closures announced by the MIIT." Adds if restructuring proves more successful, tips upside to China ... |
Prosperity – cancellation of share options16 September 2010, Published under Cement NewsProsperity announces that on 9 September 2010 it entered into an agreement with certain Directors and employees of the Company (the ‘Option holders’) to cancel options over an aggregate of 2,680,000 ordinary shares of 1p each (‘Ordinary Shares’), which were granted to the Option holders on 9 October 2007 under the Company’s share option scheme (the ‘Options’). The Options were granted for nil cash consideration and are currently exercisable at 62p per Ordinary Share. The aggregate considera... |
Capital Research cuts Buzzi Unicem stake15 September 2010, Published under Cement NewsCapital Research decreased its interest in cement maker Buzzi Unicem to 1.866% from the previous 2.136%, Italy’s stock market regulator Consob said. |
Aurel upholds "buy" recommendation on Lafarge15 September 2010, Published under Cement NewsAurel BGC kept today its "buy" rating and its share price target of EUR 51 on Lafarge. Lafarge’s CEO Bruno Lafont said on Tuesday in an interview for daily La Tribune that the group does not need a new capital increase and is keeping its debt under control. The broker reminded that Lafarge’s net debt is expected to widen to EUR 13.3 billion (USD 17.1bn) at the end of 2010. |
Tanga net profit falls, Tanzania14 September 2010, Published under Cement NewsTanga Cement, part of the Holcim group, saw revenues increased by 8% in the half year period ending 30 June 2010-same as in the previous period. However, its net profit after tax declined to TZS10.2bn (US$6.7m) from TZS12.8bn (US$8.42m) in the previous period, according to financial results by Tanga Cement Company Limited released in Dar es Salaam recently. Revenues were TZS61bn (US$40.13m), an increase of 8% when compared to the previous TZS56.3bn (US$37.04m). "Cement imports as w... |