Cement News tagged under: corporate
Saudi Southern Province Cement 1H net profit drops02 September 2010, Published under Cement NewsSaudi cement producer Southern Province Cement (SPC) said in a bourse filing that its net profit for the first half of 2010 fell to SAR375m (US$100m) from SAR412m a year earlier, or a decrease of 8.98% YoY. The earnings per share (EPS) stood at SAR 2.68, down from SAR 2.95. SPC explained the lower bottom line figures with a decrease in sales, but did not give exact figures. The gross profit was SAR399m, down 7% on the year, while the operating profit stood at SAR 377m, down 8.5%. |
Exane BNP Paribas lowers Buzzi Unicem stock rating02 September 2010, Published under Cement NewsAnalysts at French bank Exane BNP Paribas downgraded the stock rating of Italian cement producer Buzzi Unicem to "underperform" from "neutral". |
Heracles 1Q sales fall 21.4%01 September 2010, Published under Cement NewsHeracles Group of Companies announced today sales of EUR211.92m for the first semester of 2010, a decrease of 21.4% compared to the same period in 2009. Sales of the Company were at EUR184.92m, a decrease of 23.4% compared with the first semester of 2009. Sales in the first semester of 2010 were affected by lower demand in the residential housing market and the overall challenging economic environment. Moreover, reduced demand in export markets traditionally supplied by the Group further im... |
Titan America promotes four executives01 September 2010, Published under Cement NewsTitan America LLC has promoted four of its executives. Hardy Johnson was appointed to chief government and public affairs officer, a new position for the company. Johnson has been president of Titan America’s Florida business unit, Tarmac America LLC, since 2000. In addition, Pat Borders, president of the company’s business, Separation Technologies LLC, will become president of Tarmac America LLC. Borders has been with the company since 1997. Randy Dunlap, who is vice president of Separa... |
Moody’s confirms Lafarge’s Baa3 rating, outlook negative01 September 2010, Published under Cement NewsMoody’s Investors Service has today confirmed Lafarge S.A.’s Baa3 issuer rating. The rating outlook is negative. Moody’s has also confirmed Lafarge North America, Inc’s and Lafarge Cement UK plc’s Baa3 issuer ratings. Today’s rating action concludes the review for possible downgrade, which was initiated on 3 August 2010. "The confirmation was prompted by Moody’s expectation that over time, Lafarge’s capital structure will move closer to ratios that are in line with an investment grade rati... |
Saudi cement producer?31 August 2010, Published under Cement NewsThe earnings per share (EPS) stood at SAR2.25, down from SAR2.88. The company attributed the decrease to tough competition on the local market which resulted in lower sales, but did not give exact figures. |
South Valley Cement share swap rejected, Egypt?31 August 2010, Published under Cement NewsShareholders in Golden Pyramids Plaza, owner of the City-Stars mega-mall in Cairo, have rejected a share swap with South Valley Cement, putting an end to their planned merger, Golden Pyramids said on Sunday. "Most shareholders have no desire to continue the procedures of the acquisition via a share swap," a company statement to the stock exchange said. South Valley approved a E£15bn capital increase in May to buy Golden Pyramids Plaza, in a bid to expand its focus and diversify its oper... |
Expansion and cost-control boost Shanshui Cement31 August 2010, Published under Cement NewsHong Kong-listed cement maker Shanshui Cement in the first half of 2010 achieved a net profit growth of 30.2 per cent to CNY404m YoY, while the revenue grew 22.1 per cent YoY to CNY4.72bn. The board did not recommend payment of an interim dividend for the first half- period. "In the first half of 2010, the group quickened its expansion pace via new construction and acquisition activities," says Zhang Caikui, chairman of Shanshui Cement. "We managed to expand our business network in... |
Sabanci Holding 2Q net profit up 5%, Turkey31 August 2010, Published under Cement NewsTurkish conglomerate Sabanci Holding saw net profit rise five per cent in the second quarter as the group’s cash inflow was boosted by profits in Sabanci, which owns 41 per cent of Akbank, reported a TRL420.2m (US$276.1m) net profit in the quarter, up from TRL399.8m in the same period last year. Sales reached TRL1.96bn, higher than TRL1.67bn in the second quarter of last year. |
Cemex completes sale of assets, USA31 August 2010, Published under Cement NewsCemex has completed the sale of some of its assets to Bluegrass Materials Co. The company sold seven aggregates quarries, three resale aggregate distribution centers and one concrete block manufacturing facility in Kentucky to Bluegrass. Cemex said it acquired these assets in 2007 and they were deemed noncore. It did not disclose the value of the deal but said it will put the proceeds toward reducing its debt and improving its cash position. |