Cement News tagged under: corporate
Siam Cement to review capex plans, Thailand04 July 2012, Published under Cement NewsThai conglomerate Siam Cement Group (SCG) is reviewing its THB150bn, five-year investment plan in light of the effects of Europe’s sovereign debt crisis, the Bangkok Post reports. According to Kan Trakulhoon, president and CEO of SCG, the revision reflects weak demand for the company’s products on the global markets. The current plan calls for capital expenditure of THB150bn to be spent between 2012-16, up from the original target of THB100bn. "We are reviewing the five-year investment... |
Sichuan Shuangma Cement in private placement, China04 July 2012, Published under Cement NewsSichuan Shuangma Cement Co Ltd, a Shenzhen-listed producer and distributor of cement, said on 2 July 2012 that it plans to issue no more than 121 million shares to 10 designated investors at CNY7.42 a share to raise up to CNY903m. The funds raised from the issuance will be used to acquire a 25 per cent stake in a Dujiangyan, Sichuan-based cement company from Lafarge China Offshore Holding Co Ltd. (Source: China Business Newswire) |
Republic Cement Corp changes name, Philippines04 July 2012, Published under Cement NewsIn a disclosure to the Philippine Stock Exchange on Tuesday, Republic Cement Corporation changed its corporate name to Lafarge Republic Incorporated. Also, as part of their by-law’s amendments, their corporate seal shall bear the amended name of the corporation. The Securities and Exchange Commission had earlier approved the change in corporate name. |
Sinoma Intl warns of 30-50 per cent drop in 1H net profit03 July 2012, Published under Cement NewsSinoma International Ltd announced yesterday that it expected its net profit to drop 30-50 per cent YoY in the first half of this year. In the first six months of 2011, the company's net profit was CNY739m. The company said the significant drop in net profit was in part due to a loss from an overseas project. In 2011, the company's net profit attributable to shareholders of the company surged 32.78% from the previous year to CNY1.46bn, with earnings per share at CNY0.41. Pre-tax profit r... |
CRH first-half development spend EUR0.25bn03 July 2012, Published under Cement NewsCRH plc has completed 18 acquisition and investment initiatives undertaken during the first-half of 2012. The 18 transactions, comprising five in Europe and 13 in the Americas, bring first-half development spend for the Group to approximately €0.25bn, the group said in a development strategy update today. The European deals amounted to an investment of EUR155m. These transactions include a significant addition in Germany to the company’s RMI-oriented Shutters & Awnings business and two ac... |
Lafarge places seven-year EUR500m bond03 July 2012, Published under Cement NewsLafarge placed today, under its Euro Medium-Term Note program, a EUR500m bond with a seven year maturity and fixed annual coupon of 5.875% to institutional investors. While Lafarge had no immediate refinancing needs, the company said: “proceeds of this bond issuance will reinforce the already strong liquidity position of the Group.” The settlement and issuance of the bond are expected to occur on 9 July 2012. |
Defending profitability key for European companies03 July 2012, Published under Cement NewsFitch Ratings says that the ability to defend profitability in emerging countries is the most critical issue for the rating of the European cement companies rated by the agency, Holcim Ltd. ('BBB'/Stable), Lafarge SA ('BB+'/Stable) and HeidelbergCement AG ('BB+'/Stable). In its special report, Fitch compared the current financials of the major European cement companies to the pre-crisis situation to assess if and how geographical diversification helped companies to recover revenue and prese... |
Semen Baturaja plans IPO in November, Indonesia02 July 2012, Published under Cement NewsState-owned Semen Baturaja plans to float shares on the Indonesian Stock Exchange in November, according to president director Pamudji Rahardjo. Speaking to the Jakarta Globe, Mr Rahardjo said: “Our target for the initial public offering (IPO) date is October, so the shares can be listed in November.” He reiterated that the company’s target is to raise IDR1.2trn (US$128m) from the IPO. “We, however, are still considering the amount of shares to be offered to the public, whether we stic... |
Gansu Qilianshan Cement issues profit warning02 July 2012, Published under Cement NewsGansu Qilianshan Cement Group expected its first-half net profit to fall at least 50 per cent YoY and follows warnings from other industry peers. According to reports in China Knowledge, the company said in a statement filed with the Shanghai Stock Exchange that the sharp decrease in net profit was due to a significant YoY decline in cement price amid weak demand. Anhui Conch has also issued a similar profit warning, expecting a 50 per cent drop in first-half profit. China Resources Ce... |
New order for Fritz & Macziol Asia from Holcim, Philippines02 July 2012, Published under Cement NewsFritz & Macziol Asia, Inc in Manila was recently awarded with the implementation of Fritz & Macziol’s dispatch and logistics solution VAS® in all four Holcim cement plants and in one terminal in the Philippines. “With automated truck weighing process, we will be able to spend more time in value-adding processes and spend more time with our customers and business partners,” said Holcim Philippines Logistics Head Rey Cervera. The VAS® solution delivers seamless integration of logistical ... |