Cement News tagged under: corporate
Ha Tien 2 Cement 2010 pretax profit likely to fall, Vietnam11 May 2010, Published under Cement NewsHa Tien 2 Cement JSC said Monday its pretax profit this year is expected to fall 40% to VND105bn (US$5.5m) from VND176.3bn last year due to higher production and financial costs. In a statement filed to the Hochiminh Stock Exchange, the cement producer said it expected to spend 23% more on coal this year and 30% more on electricity than it did last year. The company also said its financial costs were expected to increase 133% from last year. Ha Tien 2 said it has a target full-year revenu... |
Arranger group forming for Taiwan Cement10 May 2010, Published under Cement NewsBNP Paribas is forming an arranger group for an up to CNY1.55bn (US$227m) loan for PRC subsidiaries of Taiwan Cement. The deal comprises three tranches that are each further divided into a term loan and a revolver. There is a CNY550m tranche that comprises a CNY450m term loan and a CNY100m revolver. The second and third tranches are CNY500m each and sub-divided into a CNY400m term loan and a CNY100m revolver. |
Carthage Cement prepares for IPO, Tunisia10 May 2010, Published under Cement NewsDuring a meeting held on April 22, 2010, the Board of Directors of the Tunis Stock Exchange approved the listing of shares of the Carthage Cement company on the alternative investment market. According to the Tunis Stock Exchange Website Tustex, Carthage Cement will increase its capital from 71, 680 million dinars to reach 142,680 million dinars in order to integrate the bourse. Nearly 49% of the company’s capital will be owned by new shareholders. A guaranteed Placement mainly from instit... |
Cementos Portland to close 2010 in profit07 May 2010, Published under Cement NewsDespite a first-quarter loss, Spanish cement producer Cementos Portland Valderrivas, expects to close the year with a profit, the company said yesterday. The company plans to end 2010 in line with the profit of 2009, namely EUR24m (US$30.5m). There have been positive signs of recovery since the second half of March and Cementos Portland expect to return to profit in the second quarter of 2010. Yesterday, Cementos Portland reported an EUR-8.6m net loss for the first quarter of 2010 versus a ... |
Cemex to buy back MXP6bn in debt07 May 2010, Published under Cement NewsCemex said on Thursday it would buy back up to MXP6.1bn (US$470m) in short-term debt as it continued with its debt restructuring strategy. Cemex has been wrestling to restructure its US$18bn debt load after the bottom fell out of the US housing market shortly after it loaded up on short-term borrowings to finance its takeover of Australian rival Rinker. Cemex said in a statement it had the funds to buy back four series of short-term debt securities issued in Mexico worth just over MXP6.1bn... |
Lafarge 1Q sales down on poor weather07 May 2010, Published under Cement NewsLafarge reported a first quarter 2010 decline in turnover by 9.7% to €3276m as unfavourable weather conditions, notably in Europe, North American and China, upset results. The fall was also attributed to still sluggish construction sectors in recession-hit developed countries. Cement shipments in the quarter fell by 7.4% to 29Mt, with turnover from cement declining by 8.5% to €2137m and the corresponding EBITDA fell by 15.4% to €485m. "Very poor weather and the lower economic activity ... |
Titan responds to SEPA ruling, USA06 May 2010, Published under Cement NewsTitan Cement says a Superior Court judge ruling that it must undergo an extensive environmental review sets an anti-industry precedent. Because Titan Cement received US$4.5m in public funding, a Superior Court judge ruled it must undergo a full environmental review before receiving any permits. Titan Cement said in a released statement that the ruling could quote, "put future commerce of North Carolina at great risk." Titan Cement wants to build a plant and limestone quarry on the bank... |
Indonesia’s Gresik ready to take stake in Baturaja06 May 2010, Published under Cement NewsPresident-director of Indonesian cement maker PT Semen Gresik, Dwi Sutjipto, said the company is ready to take over the shares of PT Semen Baturaja. "The acquisition would build a synergy in the Semen Gresik group," Dwi Sutjipto said after a hearing with Commission VI of the House of Representatives in Jakarta Wednesday. Sutjipto said taking over the cement plant is a strategy taken by the company to boost its production capacity. "We have been making the necessary preparations for takin... |
Market dominance will prevent CRH from Quinn Cement bid06 May 2010, Published under Cement NewsCRH has said its strong position in the Irish cement industry is likely to stop it making any bid for Quinn Cement if the Quinn Group ultimately breaks up, the Irish Independent reports. British construction group Laing O’Rourke is reported to have expressed an interest in the Quinn cement and building materials businesses, but CRH chief executive Myles Lee said his company would probably not be allowed to bid because its combined market share would be too high. Speaking after the company’... |
Sri Lanka’s pre-poll spending propels Holcim sales06 May 2010, Published under Cement NewsThe Sri Lankan Government’s pre-election spending helped increase cement sales in Sri Lanka by Holcim, one of the world’s biggest cement manufacturers, in the March quarter although the global group itself made a loss. Sales of cement and clinker by Holcim Lanka, the Sri Lankan subsidiary of the Swiss cement multinational, shot up 32.6 per cent in the March 2010 quarter, a company statement said. Although the market is small, it was one of the market’s in the global group with the fastest ... |