Cement News tagged under: corporate
Vulcan boosts first-quarter EBITDA by 36%30 April 2012, Published under Cement NewsVulcan Materials' first quarter turnover showed a 10.0% recovery to US$535.9m and the EBITDA recovered by 36.4% to US$34,0m, but at the underlying level there was a near nine-fold increase to US$46.1m. At the trading level the seasonal loss narrowed by 24.4% to US$46.3m. After deducting a net interest charge that was 23.7% higher at US$52.3m, the pre-tax loss was 6.5% lower at US$95.4m and the net attributable loss was 4.9% lower at US$52.1m. Net debt at the end of March was 1.1% lower than... |
Lucky Cement nine-month net profit rise, Pakistan30 April 2012, Published under Cement NewsLucky Cement has reported net profit of PKR4.68bn (US$51.5m) for the nine-month period ending 31 March 2012, representing an 89 per cent rise compared to the PKR2.47bn earned in the corresponding period last year. Earnings per share during the nine month period were PKR14.49 against PKR7.65 last year. Net revenue rose 29% to PKR 24bn primarily due to higher factory prices and a two per cent rise in sales. Distribution expenses remained flat and a 29 per cent decline in financial expens... |
Argos gets green light for spin-off, Colombia30 April 2012, Published under Cement NewsGrupo Argos (formerly Inversiones Argos) and Cementos Argos received today the approval of the Colombian Financial Superintendence to spin-off certain non-cement assets, currently under Cementos Argos balance sheet, to be contributed into Grupo Argos. In exchange for these assets, Grupo Argos will issue preferred non-voting shares to Cementos Argos’ shareholders at 0.31 preferred shares of Grupo Argos per each share of Cementos Argos. |
Loesche ThermoProzess GmbH integrates UCON division, Germany30 April 2012, Published under Cement NewsLoesche ThermoProzess GmbH has taken over the specialised “Combustion Technology” department of UCON AG Containersysteme KG, Gelsenkirchen. For more than 60 years, this division of UCON AG Containersysteme KG has been well-known as Kuppersbusch Fachbereich Wärmetechnik. A large variety of industrial combustion systems have been developed designed and delivered by the company. Loesche ThermoProzess GmbH is a subsidiary of Loesche GmbH Dusseldorf and - together with the “Thermal Application... |
South & Central America drive Cemex higher27 April 2012, Published under Cement NewsCemex’ first quarter turnover was up by 3.5 per cent to US$3502.6m and the EBITDA improved by 6.5 per cent to US$567.3m. The trading profit continued to recover strongly and rose by 33.9 per cent to US$240.4m. Fernando A Gonzalez, Executive Vice President of Finance and Administration, said, "The favorable performance in most of our regions leads us to believe that we are in the initial stages of a turnaround. "This is the sixth consecutive quarter of top-line growth in o... |
Portugal defends Cimpor takeover bid27 April 2012, Published under Cement NewsPortugal's Treasury Secretary Maria Luis Albuquerque defended a takeover bid by Camargo Correa for Cimpor from suggestions it was against the national interests and the price was too low. "This operation appears to us the best alternative for the company ... it safeguards the national interests in the most attractive form that was possible to secure," Albuquerque told a parliamentary committee on Thursday after the opposition Socialists demanded the government answer questions on the take... |
Standard & Poor's revises Titan's outlook27 April 2012, Published under Cement NewsStandard & Poor's (S&P) Ratings Services revised its outlook on Titan Cement Co to stable from negative. At the same time, we affirmed our 'BB-' long-term and 'B' short-term corporate credit ratings on the group. S&P said the outlook revision reflects its view that "Titan will be able to sustain solid cash flows and an 'adequate' liquidity profile over the next 24 months. ??Titan was able to maintain solid cash flows despite disruption in its key markets in the year ended 31 December 2011. ... |
Personnel change on the Supervisory Board of HeidelbergCement27 April 2012, Published under Cement NewsAs of 14 March 2012, Dr.-Ing. Herbert Lütkestratkötter resigned from his position on the Supervisory Board of HeidelbergCement AG for personal reasons. The Nomination Committee of the Supervisory Board of HeidelbergCement is intensively engaged in the selection of a suitable successor. “The Supervisory Board and the Managing Board of HeidelbergCement AG regret the resignation from office by Dr. Lütkestratkötter,” says Fritz-Ju¨rgen Heckmann, Chairman of the Supervisory Board of Heidel... |
Cementos Argos net profit rises26 April 2012, Published under Cement NewsCementos Argos, Colombia's largest cement producer, posted a net profit in 1Q12 of US$144m, from US$16m a year earlier. Operating revenue was US$587m, the company said in a statement Wednesday to regulators while EBITDA rose 40% last quarter from the same period a year earlier, to $110m. For the first quarter of 2012, revenues from the Division rose to COP$ 569bn, an increase of 34%. EBITDA was COP$189bn, an increase of 47% from March 2011 and a record high for the company. The EBITDA margi... |
UK construction returns to recession26 April 2012, Published under Cement NewsFigures from the Office of National Statistics (ONS) for GDP in the first quarter of 2012 show that the UK economy and construction industry returned to recession with a fall of 0.2% fall and 3% respectively. Commenting on these figures, Noble Francis, Construction Products Association Economics Director said: "Given the sharp effects of public sector spending cuts over the past 12 months it is unsurprising to see that construction returned to recession in the first quarter with a fall of 3... |