Cement News tagged under: corporate
Saudi cement producers see 1Q rise in net profit12 June 2012, Published under Cement NewsTwo leading Saudi Arabian cement producers have reported solid gains in the first quarter of 2012 driven by higher sales volumes as a result of rising local demand. Saudi Cement Company (SCC) said that its net profit for the three months through March 2012 surged 54.4% YoY to SAR325.6m (US$86.8m) from SAR210.8m a year earlier. Meanwhile, Eastern Province Cement Company registered a SAR104m (US$27.7m) net profit for the first quarter of 2012, an increase from the SAR83m recorded a year ... |
Bank of China runs Inner Mongolian cement producer debt offer12 June 2012, Published under Cement NewsBank of China Ltd has been mandated as lead underwriter and book-runner of Inner Mongolia Mengxi Cement Co's planned debt offering worth CNY400m (US$63m), China Knowledge reports today, citing unnamed sources. The Chinese cement producer plans to sell CNY400m of 365-day unsecured bills on 15 June. The bills will be issued on the interbank market and the coupon rate will be set during the book-building process. It plans to use half of the proceeds from the issuance for working capital. It ... |
Holcim Liban’s 2011 profits down by 15.9%, Lebanon12 June 2012, Published under Cement NewsHolcim Liban reported net profits of US$28.3m in 2011, down by 15.9 per cent from US$33.7m in 2010, the Daily Star reports. Sales reached US$195.6m last year, representing a 5.7 YoY rise. Gross profits were US$35.6m in 2011, down by 11.6 per cent from US$40.3m in 2010. The company operates a 2.9Mta cement works in Chekka, about 56km north of Beirut with headquarters in Antelias. |
Huaxin sales increase 30 per cent since Holcim investment, China11 June 2012, Published under Cement NewsHolcim has said that its Holcim said that its joint venture Hubei Huaxin Cement has seen annual sales growth of 30 per cent since it invested in the company.??Holcim entered the Chinese market in 1995, a report by China Daily states. In 1999, the company made a strategic investment in Huaxin Cement, in Hubei province, and became the company's largest shareholder in 2008. Currently, Holcim holds about 42 per cent of Huaxin's shares. Last year Huaxin Cement benefited from government inv... |
Jaiprakash in talks to sell one Indian cement unit11 June 2012, Published under Cement NewsJaiprakash Associates is in talks to sell one of its cement units to UltraTech Cement, Bloomberg reports. The company is seeking a valuation of about INR40bn for the division and the sale may help the company cut its debt. Jaiprakash Cement’s current debt stands at INR21,500 crore, while it has a market cap of INR14,500 crore. In a filing to exchanges in November the company said it is planning to separate its cement plants in Gujarat and Andhra Pradesh. Meanwhile, UltraTech Cement – Indi... |
Siam considers Asean acquisitions11 June 2012, Published under Cement NewsSiam Cement PCL is considering acquisitions in the Association of Southeast Asia Nations, with a focus on Vietnam and Indonesia, Chief Executive Kan Trakulhoon said Friday. Between the two countries in focus, Siam Cement is paying more attention to Indonesia given its large population and lower dependence on the export sector, Mr. Kan told reporters. He also said the euro zone's economic crisis won't have a direct impact on the company since it barely sells any products there, but it d... |
Latest UK construction new orders a 'worrying sign for housing'11 June 2012, Published under Cement NewsThe latest quarterly figures from the UK's Office of National Statistics (ONS) for construction new orders released Friday show that construction orders in 1Q12 were 3.6 per cent lower than the same quarter one year ago and new orders for housing were 21 per cent lower than a year earlier. However, there were some positive signs in some sectors. Commenting on the new orders data, Noble Francis, Economics Director at the Construction Products Association said: “With government cuts impacti... |
HSBC: China monetary easing should help stimulate demand11 June 2012, Published under Cement NewsHSBC says Anhui Conch Cement's 1H12 profit warning suggests declining profitability for cement producers in 2Q, but the ongoing monetary easing should help to stimulate demand and stabilise pricing in 2H12. Last week the Chinese cement producer said it expects 1H profit to fall by 50 per cent YoY on the back of weaker demand for cement. The company said consumption growth for cement has been declining since the beginning of 2012 and selling prices for cement products have dropped signi... |
Anhui Conch issues profit warning, China08 June 2012, Published under Cement NewsAnhui Conch warned on Thursday that it expects net profit for the six months ending June to decrease "considerably" YoY because of weaker demand for cement. The company estimated the net-profit fall for the first half to be "more than 50%." The company said demand growth for cement has been declining since the beginning of 2012 and selling prices for cement products have dropped significantly from a year earlier owing to slower growth in China's fixed-asset investment. "Since the sec... |
Deutsche Bank buys 20.54 mln shares in Shanshui Cement, China08 June 2012, Published under Cement NewsDeutsche Bank AG acquired 20.54 million shares in China Shanshui Cement Group Ltd at HK$ 5.47/share and for a total of HK$112m on May 28th, sources reported, citing information released by the Hong Kong Stock Exchange. After the purchase Deutsche Bank's stake in Shanshui Cement increased by 0.73% to 7.66%. (Source: China Business Newswire) |