Cement News tagged under: corporate
Novacem enters liquidation, UK02 October 2012, Published under Cement NewsNovacem, the carbon negative cement company, announced today that it was suspending operations and entering a Creditors’ Voluntary Liquidation. Novacem co-founder and former Chairman Stuart Evans said “Novacem has been tackling an enormous opportunity but unfortunately we have not been able to raise the necessary capital to continue developing the technology. We had built a terrific team that had made significant progress, but now have no option but to suspend operations and close the comp... |
Yanbu Cement sees 22 per cent rise in 3Q net profit, Saudi Arabia02 October 2012, Published under Cement NewsYanbu Cement’s net profit rose 22 per cent YoY in 3Q12 to SAR152m (US$40.5m) from SAR125m due to increased sales, according to a statement to the Saudi bourse. (Bloomberg) |
Bestway Cement's full year profit increases, Pakistan02 October 2012, Published under Cement NewsPakistan-based cement producer Bestway Cement announced that its profit after tax increased to PKR3.06bn in the year ended 30 June 2012 (FY12) compared to PKR179.230m in the corresponding period in FY11, according to reports in the Business Standard. Earnings per share has increased to Rs 5.29 in the period under review against Re 0.57 in the same period last year. According to the financial results sent to Karachi Stock Exchange on Monday turnover increased to PKR17.788bn in FY12 against... |
EAPCC announces new strategy, Kenya01 October 2012, Published under Cement NewsEast African Portland Cement Company (EAPCC) of Kenya has announced the appointment of two management positions and revamp its strategy implementation and operations as it aims to increase efficiency. EAPCC has appointed two managers to head its production and human resources departments. Former Bamburi Cement and Athi River Mining employee Engineer Charles Charo is the new Head of Production Operations. Charo has 25 years of experience in cement manufacturing while John Ole Kimanjoi has... |
Lafarge divests in US assets to Eagle, market improves01 October 2012, Published under Cement NewsLast week, Lafarge announced the disposal of two cement works and a network of ready-mix concrete plants in Missouri and Oklahoma, USA, to Eagle Materials Inc, adding US$446m (EUR344m) to its coffers. With the deal, Eagle Materials acquires the 1Mta Kansas City (MO) and the 0.6Mta unit in Tulsa (OK) as well as related distribution terminals, two aggregate quarries, eight ready-mixed concrete businesses and a fly ash firm. The move is seen by some as a win-win for both parties. Eagle secures... |
Texas Industries reduces quarterly net loss, USA28 September 2012, Published under Cement NewsTexas Industries, Inc reported a net loss of US$2.7m for the quarter ended 31 August 2012, against a loss of US$7.4m in the same period of last year as shipments and pricing improve. "Though not back to pre-recession levels, our results reflect improvement in our markets," stated Mel Brekhus, Chief Executive Officer. "Shipments are up, pricing is improving and we are seeing the benefits of our margin enhancement initiatives." "I am looking forward to beginning the commissioning of our ne... |
Dalmia Bharat to buy Adhunik Cement for INR5.60bn28 September 2012, Published under Cement NewsDalmia Bharat Enterprises Ltd said Friday it has signed an agreement to acquire Adhunik Group's cement unit for about INR5.60bn (US$106.3m). Under the deal, Dalmia Cement Bharat Ltd. will acquire Adhunik Cement Ltd., the company said in a regulatory filing. Adhunik Cement sells cement under the Adhunik MSP brand and has a manufacturing facility with a capacity of 1.5Mta in the Jaintia Hills of Meghalaya, a northeastern state in India, according the Adhunik Group website. Steel maker ... |
Jiangxi Wannianqing cement approved to issue corporate bonds28 September 2012, Published under Cement NewsJiangxi Wannianqing Cement Co Ltd, a manufacturer and distributor of Portland cement and cement clinker, said on September 27th that it won approval from China Securities Regulatory Commission to issue up to CNY1bn (US$159m) worth of corporate bonds. (Source: China Business Newswire) |
China Resources Cement to issue US$400m credit enhanced senior bonds28 September 2012, Published under Cement NewsChina Resources Cement said it has priced the US$400m 2.125 per cent credit enhanced senior bonds due 2017 following a book-building exercise conducted by DBS as sole global coordinator and bookrunner. The bonds will be issued at an issue price of 99.75 per cent and will bear an interest rate of 2.125 per cent per annum payable semi-annually in arrears. CR Cement currently intends to use the net proceeds of about US$389m for refinancing and general corporate purposes. In connection with t... |
Fecto Cement's profit after tax increases, Pakistan28 September 2012, Published under Cement NewsThe profit after tax of Pakistan cement producer Fecto Cement Ltd increased to PKR346.729m in the year ended June 30, 2012 (FY12) compared to PKR65.433m earned in the corresponding period in FY11. The board of directors declared that the company's earning per share has increased to PKR6.91 in the period under review against PKR1.30 in the same period last year. According to the financial results sent to Karachi Stock Exchange, the company's net sales increased to PKR4.342bn in FY12 against ... |