Cement News tagged under: corporate
Huaxin Cement expects H1 net profit to drop 50%, China12 July 2012, Published under Cement NewsHuaxin Cement Co Ltd, in which Holcim holds an approximate 42 per cent stake, has become the latest Chinese producer to issue a first-half profit warning. The Hubei Province-based cement manufacturer said on 9 July that its net profit is expected to fall by at least 50% YoY in the first half of 2012 due to a decline in cement prices. The company booked CNY542m in net profit in the same period of 2012. Last year, Huaxin Cement acquired three plants in the province of Hubei with a capacity... |
Starlinger opens new representative office in Uzbekistan12 July 2012, Published under Cement NewsStarlinger & Co GmbH, Austrian manufacturer of machinery for woven plastic packaging production and plastics recycling, has opened a representative office in Tashkent, Uzbekistan. The office, opened in May 2012, is headed by Yuldosh Kazakov, who joined Starlinger in 2009 and is chief representative for the region. The strong economic growth in Central Asia during the past years has also had a positive effect on the textile packaging industry. “Starlinger sees a strong potential for growt... |
TXI appoints three additional directors12 July 2012, Published under Cement NewsTexas Industries, Inc announced the addition of Sean Foley, Bernard Lanigan and Tom Ryan to its Board of Directors. "We are delighted to have found directors of the quality and experience of Sean, Bernie, and Tom to join TXI," stated Bob Rogers, Chairman of the Board. "Given the improvement in construction activity, the near completion of additional cement capacity, the high quality of the Company's assets and the markets we participate in, this should be an exciting time for them to be a p... |
Caribbean Cement sees more positive outlook11 July 2012, Published under Cement NewsCaribbean Cement Company expects a more positive outlook from next year as the company finalises a debt ‘reprofiling’ plan with some of its 30 biggest creditors. The agreement has given the company some time to pay off its JMD1.95bn (US$22m) debt over five years, starting from March 2013 to December 2018. The company has posted losses for three years but expects a turnaround by January 2013. "We are not out of the woods (but) definitely our outlook is more positive," General Manager A... |
Qassim Cement second quarter net rises YoY, Saudi Arabia11 July 2012, Published under Cement NewsQassim Cement Company posted a three per cent YoY rise in consolidated net profit of SAR149m (US$40m) for the second quarter of 2012, thanks to increased sales. However, on a QoQ basis, net profit was down 5.97 per cent which the company attributed to increased costs due to the purchase of clinker from the local market. Operating profit during the second quarter was SAR153m compared to SAR145m for the corresponding quarter last year, which represents a rise of 5.31 per cent. Consolid... |
Cement Co of Northern Nigeria reports 48% drop in quarterly profit11 July 2012, Published under Cement NewsCement Company of Northern Nigeria Plc has reported a 48 per cent drop in first-quarter profit. Net income for the three months through March declined to NGN268m (US$1.7m) from NGN511.4m a year earlier, the Sokoto, northern Nigeria-based company said in a statement yesterday. Revenue was relatively flat at NGN3.1bn. |
Valderivvas presents restructuring plans to unions, Spain11 July 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas has presented its restructuring plan to trade unions which involves the part-closure of one plant. The company announced that it plans to close its plant in Vallcarca for 10 months annually, reduce the number of employees and managers and halt kiln lines. Cementos Portland said that the estimated operating cost reductions with this plan equal the same savings that would be generated via the closure of three of its eight plants. The co... |
Tianshan Cement forecasts 60-80% drop in 1H profits10 July 2012, Published under Cement NewsXinjiang Tianshan Cement Co Ltd said last Friday that its net profit fell 60-80 per cent to CNY120m (US$18.8m) in the first half of this year. The company, which is based in the Xinjiang Uyghur Autonomous Region, stated that the decline in its half-year net profit is largely due to lower cement selling prices and rising financial expenditure, according to reports by China Business Newswire. |
Cimpor shareholders approve dividend proposal, Portugal09 July 2012, Published under Cement NewsCimpor shareholders today approved a proposal for the company to pay a dividend of EUR16.6/share, said an official at Cimpor who asked not to be named in line with company policy, Bloomberg reports. Shareholders hadn’t voted on the dividend proposal at a meeting on April 20 after Camargo Correa SA requested the meeting’s suspension during its bid for the Portuguese cement maker. |
Tianshan Cement forecasts CNY120m in 1H net profit09 July 2012, Published under Cement NewsXinjiang Tianshan Cement Co Ltd, a cement producer based in Xinjiang Uyghur Autonomous Region, forecasted on July 6th that its net profit will reach about CNY120m (US$18.8m) in the first half of 2012, down 60-80% YoY. (Source: China Business Newswire). |