Cement News tagged under: corporate
India: mergers and acquisitions ahead?23 July 2012, Published under Cement NewsCRH has reportedly emerged as the latest company to enter the foray for a stake in Jaiprakash Associates' cement units in the Indian states of Gujarat and Andhra Pradesh, which could pave the way for the Irish building materials major to increase its presence in a country teeming with long-term potential. Elsewhere, the recent ruling by India's antitrust body on local cement producers could aid increased consolidation in the fragmented Indian cement sector. Earlier last month, Jaiprakash ... |
Fitch Ratings has affirmed LSR's 'B' outlook stable20 July 2012, Published under Cement NewsFitch Ratings has affirmed OJSC LSR Group's (LSR) Long-term foreign currency Issuer Default Rating (IDR) at 'B' with a Stable Outlook and the senior unsecured rating of the outstanding bond issues at 'B'. The affirmations reflect LSR's sustainably strong position as a developer and construction materials producer in its core region of St. Petersburg and Leningrad region, Fitch said. LSR continues to diversify geographically towards the highly concentrated Moscow and Moscow region resident... |
Cemex seen reporting improved 2Q results20 July 2012, Published under Cement NewsCemex is expected show improvement in its second-quarter results as recovering US operations offset weakness in Europe, although a stronger US dollar is likely to limit sales in dollar terms and contribute to a net loss for the period. The company will probably report sales of US$4.03bn for the April-June quarter, according to the median estimate of six equities analysts consulted by Dow Jones, little changed from US$4.09bn in the year-ago period. EBITDA probably increased to US$669m ... |
Equita sees Buzzi Unicem 2Q EBITDA rising20 July 2012, Published under Cement NewsBrokerage Equita expects Italian cement maker Buzzi Unicem to report second-quarter EBITDA of EUR158m, up by 13% on the year. SeeNews Italy reports that the broker expects the revenue to have grown 9% annually to EUR838m, thanks to the good performance in Russia and the USA which is seen to have offset the weak Italian demand. The sluggish Italian market can lead the management to carrying out a goodwill impairment of the domestic division, Equita said. The analysts lowered their 2012-201... |
CRH eyes stake in Jaiprakash cement units, India19 July 2012, Published under Cement NewsCRH is said to be interested in buying a stake in Jaiprakash Associates cement plants in Gujarat and Andhra Pradesh, according to Indian press reports. Speaking to the Economic Times of India, a source familiar with the situation said: "The discussions between the two companies are in an advanced stage, but nothing has been finalised. Both sides are expected to meet in the last week of this month to give a final shape to the transaction. But it may go either way.” The AV Birla Group wa... |
Euro construction output advances in May19 July 2012, Published under Cement NewsEuro-area construction output rose in May, as advances in Germany and Portugal offset declines in Italy, Spain and the Netherlands. Construction in the 17-nation euro area advanced 0.1 per cent from April, when it dropped 3.7 per cent, the European Union’s statistics office in Luxembourg said yesterday. From a year earlier, construction output declined 8.4 per cent. In Germany, Europe’s biggest economy, construction output increased 3.1 percent from April, when it fell 5.5 per cent, t... |
Fitch affirms Siam City Cement's rating, Thailand19 July 2012, Published under Cement NewsFitch Ratings (Thailand) Limited has affirmed Siam City Cement Public Company Limited's (SCCC) National Ratings at Long-Term 'A(tha)' and Short-Term 'F1(tha)'. The Outlook is Stable. At the same time, Fitch has affirmed SCCC's senior unsecured debentures at 'A(tha)'. SCCC's ratings reflect its leading position as the second-largest cement producer in Thailand, with strong brands in cement, ready-mix concrete and wood replacement products. This has helped the company to maintain its domesti... |
Sagar Cements net profit falls 77%, India19 July 2012, Published under Cement NewsSagar Cements Ltd’s net profit declined 77 per cent at INR 4.1 crore in the first quarter of FY12-13 compared to INR 18.1 crore in the year-ago period. Revenues of the Hyderabad-based company almost remained flat at about INR150 crore. “The operating environment for cement companies thus far has been challenging. With increasing power and fuel costs, margins are being impacted,” Mr Sreekanth Reddy, Executive Director, Sagar Cements said in a release. |
ACC seen posting 12 per cent rise in 1QFY13 net profit19 July 2012, Published under Cement NewsACC is likely to post a 12 per cent YoY rise in net profit at INR3.78bn for the first quarter of the current fiscal (FY12-13), according to the average of 22 brokerages' estimates, Moneywire reports. India’s second-largest producer, in which Holcim holds a 50.3 per cent stake, is expected to post a 13 per cent rise in net sales for the quarter at INR27.25bn. On a QoQ basis, net sales are seen declining five per cent. However, net profit Apr-June is not strictly comparable with the previou... |
UltraTech seen posting 8% YoY net profit rise18 July 2012, Published under Cement NewsUltraTech Cement is expected to post an 8% YoY rise in net profit for the first quarter of fiscal year 2012-13 (FY12-13) on the back of better sales realisation and a low base effect, an average estimate of 21 brokerages showed. Net sales are seen rising 15 per cent to INR49.98bn for the country’s largest cement producer. "We expect Q1FY13 (Apr-Jun) to be yet another strong quarter for cement companies," ICICI Securities said in a pre-earnings note. "Average all-India cement prices are ex... |