Cement News tagged under: corporate
R&I Affirms BBB/a-2, Stable: Taiheiyo Cement Corp23 October 2012, Published under Cement NewsRating and Investment Information, Inc (R&I) has announced the following: Taiheiyo Cement Corp. Issuer Rating: BBB, Affirmed Rating Outlook: Stable Commercial Paper: a-2, Affirmed. Rationale Taiheiyo Cement Corp. is the largest cement manufacturer in Japan. The company has a foothold in overseas markets as well, including North America, China, Vietnam, the Philippines and South Korea. The earnings structure of the domestic cement business has improved as a result of a review of the ... |
Tianshan Cement net profit declines, China23 October 2012, Published under Cement NewsXinjiang Tianshan Cement Co Ltd, a Shenzhen-listed cement producer, reported a net profit of CNY343m (US$54.9m) in the first nine months of 2012, representing a YoY decline of 64.85 per cent. Operating revenue during the period was down by 4.45 per cent YoY to CNY6.1bn. Net profit for the third quarter plunged 62.94 per cent YoY to CNY220m. |
Cemex announces Latam share offering, Colombia22 October 2012, Published under Cement NewsCemex said on Friday it plans to offer some 126.6 million common shares of its Cemex Latam Holdings unit to be listed in the Colombian stock market. Cemex Latam Holdings includes Cemex's cement and ready-mix assets in Colombia, Panama, Costa Rica, Brazil, Guatemala, Nicaragua and El Salvador. About 110.1 million shares will be put up for grabs in a public offering to investors in Colombia and in a concurrent private placement to eligible investors outside Colombia, Cemex said in a relea... |
Sephaku Cement secures cement project funding, South Africa22 October 2012, Published under Cement NewsSephaku Cement had concluded a ZAR1.95bn (US$226m) funding deal with Standard Bank and Nedbank which will be put towards new capacity in South Africa. The 10-year funding deal would provide Sephaku Cement, which is developing a production facility in the northwest and a grinding facility in Mpumalanga, with the required capital to enter the cement market. Of the total debt capital raised, just over 50 per cent of total procurement spend would be invested locally. Aganang, near Lichte... |
Increased sales boost ARM Cement's 9M12 pretax profit, Kenya22 October 2012, Published under Cement NewsKenya’s second largest cement producer ARM Cement (formerly Athi River Mining) said in the first nine months pretax profit rose to KES1.2bn (US$14.1m) from KES296m, driven primarily by higher sales of Rhino Cement. Rhino Cement, which is ARM's flagship operation set up in 1997, launched its Tanzania cement production plant in Dar es Salaam this month. Turnover for the first three quarters of the year jumped 29 per cent to KES7.74bn compared to the same period the previous year. ARM s... |
Qatar National Cement net profit rises22 October 2012, Published under Cement NewsQatar National Cement Company (QNCC) posted a net profit of QAR321.4m (US$88.3m) for the nine months period ended September 30, 2012 compared to a net profit of QAR329m for the corresponding period last year. Earnings per share amounted to QAR6.55 for the period ended September 30, 2012 versus QAR6.70 for the corresponding period in 2011. |
Breedon Aggregates withdraws from Tarmac/Lafarge asset bid, UK19 October 2012, Published under Cement NewsBreedon Aggregates, the building materials group, said it has withdrawn from bidding to acquire assets being off-loaded by Lafarge and Tarmac. The two firms have been forced to sell by the Competition Commission before a construction materials joint venture can go forward. ??Earlier in October, Breedon submitted offers to the sellers' advisers for a number of the assets. "In the event, the group has been unable to meet the value expectations of the sellers in respect of the majority of... |
ACC reports 52 per cent rise in 2QFY13 net profit19 October 2012, Published under Cement NewsACC Ltd reported the growth of 52 per cent in its consolidated net profit for the second quarter of FY12-13 and expects its sales volume to increase in the next quarter as the monsoon season has ended. Net profit during the July-September period was INR2.42bn rupees (US$45m) against INR1.59bn a year ago. Net sales rose 12 per cent to INR25.56bn during July-September 2012 period but sales volume declined five per cent to 5.4Mt. The steep increase announced in the price of diesel during ... |
Pakistan cement producers post first quarter profit19 October 2012, Published under Cement NewsTwo leading Pakistan cement manufacturers have reported a rise in first quarter FY13 profit. Maple Leaf Cement Factory Limited posted PKR384.409m profit in the quarter ended September 30, 2012 as compared to after tax loss of PKR228.279m in the same period last year. According to the financial results sent to Karachi Stock Exchange, the company's net sales increased to PKR3.807bn in this quarter against PKR3.356bn in the same quarter last year while cost of sales stood at PKR2.680bn aga... |
Gansu Qilianshan Cement net profit drops, China19 October 2012, Published under Cement NewsGansu Qilianshan Cement Group reported a 3.95 per cent YoY decline in third quarter net profit to CNY141m (US$22.5m). In the first three quarters, net profit fell 57.48 per cent to company reaped CNY167m net profits in the first three quarters, falling by 57.48 percent over the period last year. Operating revenues reached CNY1.352bn in the third quarter, rising by 20.28 per cent YoY. Operating in the first three quarters were CNY3.208bn, advancing14.25 per cent over the period last year. |