Cement News tagged under: corporate
Tongli Cement to see restricted shares become tradable13 September 2012, Published under Cement NewsOn 11 September Henan Tongli Cement Co Ltd, a Shenzhen-listed cement producer, said that 96.24 million of its restricted shares will be tradable on 13 September. The shares account for 29.31 per cent of its share capital. |
UltraTech Cement mandates SMBC for loan, India13 September 2012, Published under Cement NewsUltraTech Cement Ltd has awarded a sole mandate to Sumitomo Mitsui Banking Corp for a syndicated loan, sources said. One source said the deal size is between US$50m and US$100m. Timing of any potential syndication is not determined yet. Ultra Tech Cement is part of the Aditya Birla Group. It is the country's largest cement maker, with a capacity of 48Mt which it is increasing to 62Mt by FY14. |
Competition tribunal serves notice to CCI13 September 2012, Published under Cement NewsThe Competition Appellate Tribunal ( COMPAT) has served notice to the Competition Commission of India and the Builders Association of India regarding the INR6307 crore (US$1.1bn) fine issued on 11 cement producers for price fixing. Hearing an appeal by cement companies including UltraTech and ACC, the tribunal also asked the CCI not to take any coercive action in the matter until 11 October when the COMPAT would next hear the case. In their petitions, the cement firms have requeste... |
Holcim Philippines names new CEO12 September 2012, Published under Cement NewsHolcim Philippines Inc has announced the appointment of Filipino executive Eduardo Sahagun as its new chief executive officer, effective 1 January 2013. The current president, Magdaleno Albarracin Jr. and expatriate chief operating officer Roland van Wijnen will step down on 31 December and 31 January 2013, respectively. “There is no doubt that Ed is the right man to lead Holcim Philippines at this time … (he) has certainly contributed much towards helping shape Holcim Philippines t... |
Cemex clears refinancing deal, considers asset sales11 September 2012, Published under Cement NewsCemex will extend maturities of bank loans by three years after its restructuring offer won acceptance from creditors holding 92.6 per cent of the debt. The offer had to be accepted by 91 per cent of creditors to go through after the threshold was lowered from an initial 95 per cent, and the transaction is expected to become effective in the following weeks, the company said in a statement. Cemex plans to sell US$500 of new 9.5 per cent senior notes due in 2018 as part of the exchange. ... |
Steppe Cement posts first half loss, Kazakhstan11 September 2012, Published under Cement NewsKazakhstan-based cement producer Steppe Cement Ltd posted a consolidated loss after tax of US$0.1m for the six months ended 30 June 2012. Revenue six months ended June 30 were US$52.16m (2011: $43.06m) while pretax profit was US$391,000 (2011 loss: US$2.84m). The company’s sales volumes increased by two per cent to 615,838t and the average sales price increased from USD72/t to USD86/t during the period. Production costs per tonne increased by 11 per cent in US dollar terms. The hike was... |
DG Khan full-year profit rises, Pakistan11 September 2012, Published under Cement NewsPakistan cement producer DG Khan Cement reported a profit-after-tax of PKR4.10bn (US$43.3m) for the year ended June 30 2012, compared to PKR170.96, earned in the previous year, according to a statement on Monday. This translated into the earnings per share (EPS) of PKR9.38 from 45 paisas in 2011-12, according to the profit and loss account of the company available with the Karachi Stock Exchange. Revenues for the company surged 24% to PKR22.95bn in fiscal 2012, against sales of PKR18.58b... |
Domestic demand drives Kohat Cement FY12 sales10 September 2012, Published under Cement NewsPakistan’s Kohat Cement Company Ltd (KOHC) achieved a 26.5 per cent YoY growth in domestic sales during FY12, outperforming the industry which grew 8.8 per cent. Its exports, however, suffered a steep decline of 29.6 per cent YoY to 273,000t, reducing total growth to 12 per cent. The company achieved a four-year high capacity utilsation rate of 59 per cent, the highest since it started operations of ist expansion project. It expects volumes to grow at CAGR of four per cent for to 1.9M... |
Oyak Cement to sell stake in Aslan Cemento, Turkey10 September 2012, Published under Cement NewsMilitary-run business conglomerate Oyak Cement announced on Friday it had applied to the Central Registry Agency to sell an almost 10 per cent stake in subsidiary Aslan Cemento. Oyak owns a 96.85 per cent stake in Aslan and in the announcement it said it would sell 7.18 million units of stake out of a total 70.7 million it holds on the Istanbul Stock Exchange. (Source: Reuters) |
China Tianrui Group to issue CNY500m notes10 September 2012, Published under Cement NewsChina Tianrui Group Cement Co has said it will issue CNY500m (US$78.9m) worth of medium-term notes with a maturity of three years in the interbank market on 17 September. The company, a leading clinker and cement producer in Henan and Liaoning provinces, said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on 18 September 18, and the to-be-issued notes tradable 19 September. A... |