Cement News tagged under: corporate
Tongli Cement posts 19.28% net profit fall, China13 April 2012, Published under Cement NewsHenan Tongli Cement Co Ltd said on 11 April that it reaped a net profit of CNY25.99m in the first quarter of 2012, down 19.28% on-year, China Business Newswire reports. Basic earnings per share were CNY0.1. Meanwhile, the company's operating revenue dipped 3.6% on-year to CNY869m, |
Hail Cement gets government fund for new plant, Saudi Arabia13 April 2012, Published under Cement NewsHail Cement Co said in a bourse statement yesterday that the Saudi Industrial Development Fund (SIDF) had agreed to extend a SAR300m (US$160m) loan. The Saudi Arabian cement producer will use the funds to complete the construction of its cement plant in Turbah, which is scheduled for completion in the first quarter of 2013. (Source: SeeNews Middle East and Africa). |
Indian cement corporate announcements13 April 2012, Published under Cement NewsUltraTech Cement has informed that the NJ Jhaveri has resigned from the board of the company with effect from 4 April, 2012, according to a filing to the Bombay Stock Exchange (BSE). Meanwhile, Shree Digvijay Cement Company has also informed the BSE that Alvaro Joao Serra Nazare, a director of the company has resigned from his directorship with effect of 1 April 2012. |
East African Portland Cement shares reinstated, Kenya12 April 2012, Published under Cement NewsKenya's Capital Markets Authority has re-admitted shares of East African Portland Cement after a two-month suspension, saying doubts about the firm's ability to run its business had been quashed by continuous operations over the period. The shares had been suspended from trading on 17 January, to protect shareholders from a dispute between its board and the government, a 25 per cent shareholder that wanted to dissolve the board, citing an improper tender process for clinker. The High Court... |
Eurocement increases stake in Holcim, Switzerland12 April 2012, Published under Cement NewsRussia's largest cement maker Eurocement has increased its stake in Holcim to 10.8 per cent, newspaper Handelszeitung reports in article to be published Thursday. Eurocement's owner, Filaret Galchev-Kaltsidis, has spent CHF100m (US$109m) to raise its holding from 10.1 per cent, the paper reports. "Our position in Holcim is now about 35 million shares, or 10.8 per cent. We have taken advantage of the low share prices for the purchase," Thierry Sauvaire, chief executive of Eurocement Holdi... |
Yamama Saudi Cement 1Q12 net profit rises11 April 2012, Published under Cement NewsYamama Saudi Cement said Tuesday its first-quarter profit surged 54% on the year to SAR278m (US$74.1m) due to higher sales and improved operational efficiency. First-quarter earnings per share were SAR1.37 versus SAR1.33 a year ago, the company said in a statement posted on the Saudi bourse website. Operating profit for the three-month period rose to SAR287m, compared with SAR184m in the year-earlier period, it said. Earlier this week domestic peers Yanbu Cement and Qassim Cement also r... |
Fitch revises China Shanshui Cement Outlook11 April 2012, Published under Cement NewsFitch Ratings has revised China Shanshui Cement’s Outlook to Positive from Stable. The Outlook reflects an “improved competitive landscape in Shandong, Shanshui’s core market and the company’s reduced capex plans,” Fitch said in a statement. Discipline to stablise selling prices by adjusting production levels by key Chinese cement industry improved in 2011, especially in regional markets with strong concentration like the Shandong Province, Fitch notes. The top two cement producers in thi... |
Fitch Ratings affirms Cimento Tupi ratings, Brazil10 April 2012, Published under Cement NewsFitch Ratings has affirmed the following ratings of Brazilian cement producer, Cimento Tupi SA's (Tupi): • Foreign currency Issuer Default Rating (IDR) at 'B' • Local currency IDR at 'B' • Senior Unsecured Notes Due 2018 at 'B/RR4'; • Long-Term National Rating 'BBB-(bra)'. Fitch said Tupi's 'B' ratings reflect its small business position, execution risks related to the change in its business model, and the volatility of its cash flow generation due to the cyclicality ... |
Lafarge Jordan Cement 2011 losses10 April 2012, Published under Cement NewsLafarge Jordan Cement reported JOD20m worth of losses in 2011 and revenues dropped 21 per cent YoY to JOD134m, according to reports in The National. The company, which once had a monopoly in the country, has been struggling from increased competition ever since a fourth cement factory opened in March last year, while rising costs have impacted revenues. Lafarge Jordan Cement has two plants, in Al Fuheis and Al Rashadiyah, with a combined production capacity of 4.8Mta. Production i... |
China Shanshui to issue senior notes, China10 April 2012, Published under Cement NewsChina Shanshui Cement said it proposes to conduct an international offering of senior notes and would commence a series of roadshow presentations beginning on or around 11 April 2012 to institutional investors in Asia, Europe and the United States. Deutsche Bank, HSBC and J.P. Morgan have been appointed as joint lead managers and joint bookrunners. The pricing of the notes, including the aggregate principal amount, the offer price and interest rates, will be determined through a book build... |