Cement News tagged under: corporate
Steppe Cement sees continued improvement in Kazakhstan market09 May 2012, Published under Cement NewsKazakhstan-based cement producer Steppe Cement said that in 2011, sales continued to improve on the back of the cement market recovery which commenced in the second half of 2009. I n line with both price and volume increases of 24% and 7% respectively, the company posted net profit of US$3.3m with a higher capacity utilisation rate of 80%. During the year, cement price increases coupled with operational efficiencies more than offset the rising cost of fuel, transportation and especially... |
Italian and French winters disrupt Italcementi first-quarter08 May 2012, Published under Cement NewsItalcementi’s first quarter turnover declined by 6.8% to €1071.7m, but the running EBITDA was only off by 3.1% to €126.7m. The trading profit, however, fell by 41.4% to €21.3m and, at the pre-tax level, there was a €7.8m loss, compared with a €24.1m profit. At the net attributable level, there was a swing from a €80.7m profit, thanks to capital gains last year, to a loss of €49m. Net debt at the end of March was 4.1% higher at €2179.1m, giving a gearing level of 45.5%, compared with 42.8% a... |
Stronger sales boost Siam City 1Q net profit, Thailand08 May 2012, Published under Cement NewsSiam City Cement Plc (SCCC) reported a 14.6% YoY increase in net profit, up to THB1.28bn for the first quarter on the back of strong domestic cement consumption, the Bangkok Post reports. Thailand's second-largest cement manufacturer saw net sales rise 12.4% from the year before to THB6.99bn, the company said in a statement. "Cement consumption increased in the first quarter, driven by sizeable growth from both public and private construction," it said. "However, cement pricing did not ref... |
Camargo says Votorantim to likely exchange Cimpor stake - report08 May 2012, Published under Cement NewsCamargo Correa SA said Votorantim Cimentos SA will probably accept some of Cimpor assets in exchange for its shares in the Portuguese company after rejecting a cash bid, Bloomberg reports. “There is a very strong probability that Votorantim Cimentos SA will accept this offer,” Camargo Correa’s Intercement unit said in an emailed statement. Votorantim has decided not to accept Camargo’s EUR5.5-a-share cash bid for Cimpor, it said. By splitting up some of Cimpor’s assets, Camargo Correa, Br... |
Ivano-Frankivskcement reports 2011 net profit, Ukraine08 May 2012, Published under Cement NewsUkrainian cement producer Ivano-Frankivskcement achieved a net profit in 2011 of UAH6.039m (EUR0.58m), according to local press reports. Net revenue increased by 23.73% or UAH168.194m to UAH876.974m over 2010. As at the end of 2011, the company's assets were valued at UAH923.404m. (Source: Ukrainian News) |
InterCement plans asset swap with Votorantim07 May 2012, Published under Cement NewsInterCement, the cement unit of Brazilian industrial conglomerate Grupo Camargo Correa, on Sunday provided further details regarding its bid to acquire Cimpor. Camargo Correa said it hasn't changed its March 30 offer of EUR5.5 per Cimpor share, and said that payment would be made immediately after the offer closes, in cash, according to a report by Dow Jones News Service. The company stressed that Cimpor would remain a Portuguese company, and retain the same brand, and that it would be str... |
Lafarge shares rise on Hollande election07 May 2012, Published under Cement NewsShares in Lafarge are among the top gainers on France’s CAC-40 index as investors expect government spending on social housing to increase under France’s newly elected president, Francois Hollande. Lafarge’s stock rose 2.4%, more than offsetting the sharp drop suffered on Friday following weak US economic data. |
Martin Marietta violated confidentiality agreement, judge rules07 May 2012, Published under Cement NewsDelaware Judge Leo Strine has ruled that Martin Marietta violated a nondisclosure agreement with Vulcan and used confidential information in forming its USD5.3bn bid and proxy fight. It has been ordered to suspend all activities related to the deal for four months. Martin Marietta said on Monday, it would appeal the ruling: “We are disappointed with the decision rendered by the Delaware Court of Chancery, with which we strongly disagree,” the company said in a statement. “After carefully co... |
Ivano-Frankivskcement 2011 results restated07 May 2012, Published under Cement NewsIvano-Frankivskcement finished the full year of 2011 with a net profit of UAH6m, according to a report by Ukrainian News. In 2011, the enterprise increased its net revenue by 23.73% or UAH168m to UAH877m over 2010. As of the end of 2011, the company's assets were valued at UAH 923m. Total accounts receivable as of the end of the year were UAH 216m, its current liabilities UAH258m. According to the latest data, Ivano-Frankivskcement finished 2010 at a loss of UAH 0.8m, its net revenue was U... |
Eurocement Ukraine records 2011 losses07 May 2012, Published under Cement NewsEurocement Ukraine, one of the three largest Ukrainian cement producers, ended 2011 with losses of UAH46.048m, the company announced in a statement. In 2011, Eurocement Ukraine increased net revenues by 16.18% or UAH191m compared to 2010, to UAH1,374m. Assets of Eurocement Ukraine were recorded at 929m, current liabilities at UAH258m, and total accounts receivable UAH1156m. Eurocement Ukraine sustained losses of UAH117m in 2010, having reduced its net revenue by 9.47% or UAH124m to UAH... |