Cement News tagged under: corporate
Six state-owned plants to be sold, India30 July 2012, Published under Cement NewsThe government of India has revived plans to sell six out of 10 cement plants operated by state-owned Cement Corp of India. Two of the cement plants are located in the state of Chhattisgarh and one each in Madhya Pradesh, Karnataka, Harayana and Delhi. The Board for Industrial and Financial Reconstruction (BIFR), which looks into ailing public sector units, has reconstituted an asset sale committee to arrive at a valuation for the six plants, which have not been functional for almost a dec... |
JSW Cement sets up new slag cement plant, India30 July 2012, Published under Cement NewsJSW Cement has established a 5Mta slag cement plant at Nandyal in Kurnool district, the slag for which is supplied by the company's steel plant in Karnataka. RC Sodani, CEO and director of JSW Cement told Business Line India that at the product is being sold at a slightly lower price than OPC, stating: "Our cement unit is in production or the past six months and the market response has been very encouraging so far." Currently the company sells slag cement in the southern states and parts ... |
JP Morgan remains underweight on Ambuja Cements30 July 2012, Published under Cement NewsJP Morgan remain Underweight on India's Ambuja Cements. Key risks to the price target as per JP Morgan is a sharp recovery in cement demand to help drive higher than expected volume growth (and therefore utilisation levels) and reduction in coal costs leading to decline in operating cost per tonne. "Demand has not been particularly strong in the last two months, but cement prices have moved up across most markets in June and July. Lack of rains in the monsoon is positive for cement dema... |
Cemex bolstered by improving US sales30 July 2012, Published under Cement NewsCemex has reported an improved profit line for the first-half of 2012, as sales from its US division move into long-awaited positive territory signalling that the debt-laden producer could be heading in the right direction despite declines in its two biggest markets of Mexico and Europe. The company's first half turnover declined by 2.1 per cent to US$7373.1m but EBITDA improved 9.4 per cent to US$1273.2m and the trading profit rose 40.7 per cent to US$611.9m. Meanwhile, in the second-qua... |
Lafarge takes hit on Greek impairment charge, maintains outlook27 July 2012, Published under Cement NewsLafarge has reported improved second-quarter sales and operating profit but net profit plummeted as it took an impairment charge of EUR200m (US$244m) on its Greek assets. Second-quarter sales rose five per cent to EUR4261m and EBITDA increased eight per cent to EUR1007m. Net income in 2Q was only EUR57m due mainly to the Greek impairment charge. For the first-half sales increased by five per cent to EUR7614m and EBITDA eight per cent to € 1523m while net profit was EUR13m down from EU... |
Gresik first-half net profit rises, Indonesia27 July 2012, Published under Cement NewsPT Semen Gresik said Friday its first-half net profit rose 12% to IDR2.10trn (US$221m) from IDR1.87 trillion a year earlier. Revenue for the January-June period rose to IDR8.66trn from IDR7.61trn a year earlier. Its assets totaled IDR22.28trn as of June 30, compared with IDR19.66trn a year earlier. |
Cementos Portland Valderivvas increases loss27 July 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas reported a loss of EUR48.6m for the first half of 2012, versus a loss of EUR5m from a year earlier. The negative performance was explained with the depressed levels of domestic consumption. Portland Valderrivas has recently reached an agreement with the trade unions to cut 250 jobs. Abstracted from an original article in Expansion |
Vulcan looks for a much better second half27 July 2012, Published under Cement NewsVulcan Materials’ first half turnover improved by 3.4 per cent to US$1,230.0m, but the EBITDA was off by 0.9 per cent to US$145.1m. A fter a net interest charge 6.4 per cent lower at US$106.0m, the pre-tax loss for the period declined by 12.9 per cent to US$130.2m. If ignoring the US$42,1m defence costs against the unsolicited bid from the much smaller Martin Marietta Materials, the pre-tax loss was 41.3 per cent down to US$88.1m. A 27.8 per cent reduction in tax losses to US$56.1m meant tha... |
Tasek second quarter earnings fall, Malaysia27 July 2012, Published under Cement NewsTasek Corp Bhd of Malaysia reported a 4.4 per cent fall in second quarter earnings to MYR23.13m (US$7.3m) from MYR24.21m a year ago. Revenues were flat at MYR139.73m compared with MYR138.57m.The slightly higher group revenue was attributed to the cement segment but was offset by the weak performance of the concrete division. "The cement segment registered a higher operating profit of MYR23.4m in the current quarter as compared with MYR21.8m in the previous year's corresponding quarter.... |
ACC reports 26 per cent net profit rise27 July 2012, Published under Cement NewsACC of India reported a rise of 26.33% in consolidated net profit to INR4.15bn for the quarter ended June 30, 2012 as compared to INR3.28bn in the same period last year. Total consolidated income for the company, which is 50.3 per cent owned by Holcim, increased by 15.13% to INR29.59bn for the quarter ended June 30, 2012 from INR21.90bn in the year ago period. Net sales rose 14.95% to INR29.19b for the quarter compared to INR25.39bn in the same period last year. |