Cement News tagged under: corporate
Inverargos shareholders approve name change, Colombia30 March 2012, Published under Cement NewsShareholders of Inversiones Argos (Inverargos), the investment arm of Colombia's largest cement firm Cementos Argos, approved a name change to Grupo Argos during a meeting held on 29 March. The group also approved an annual dividend of 212 pesos per share to be paid in four installments, according to a company release. Grupo Argos holds a 61.4% stake in Cementos Argos, and controls 50.1% of investment group Celsia, formerly known as Colinversiones. |
China United Cement to issue bills30 March 2012, Published under Cement NewsChina United Cement Group Co, a unit of China National Building Material Co, plans to issue CNY1bn worth of 365-day unsecured bills on the interbank market today. Coupon rate will be determined in the process of book-building and the bills will be issued at face value. Both value date and payment due date is on 31 March and the to-be-issued bills tradable on April 1.?? Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively. Agricultural Bank of Chi... |
YTL plans more acquisitions, Malaysia30 March 2012, Published under Cement NewsYTL Corp Bhd, the best performer on Malaysia’s benchmark index this year, may buy power, cement or property assets in Asia in the next six months to expand its business in the region, according to managing director Tan Sri Francis Yeoh said. The utilities and construction group had identified targets and might make a purchase in the second or third quarter, Yeoh, 57, said in an interview on Tuesday, declining to be more specific. The company might boost dividend payouts to the highest lev... |
Small-scale Ethiopian producers seek export permits29 March 2012, Published under Cement NewsFollowing moves by larger Ethiopian cement manufacturers to secure export permits, two small-scale cement companies have also approached the government for licences. Of the 11 existing small-scale factories (with a capacity of less than 750,000tpa), East Cement and CK Clinker, officially requested the Ministry of Trade (MoT) to issue export permits, while others have sought information on the process, the Addis Fortune reports. The request is the result of an unanticipated drop in demand ... |
Texas Industries reports lower pre-tax losses29 March 2012, Published under Cement NewsFor the first nine months to the end of February, Texas Industries increased turnover by 5.9% to US$472.4m. After a net interest charge 29.4% lower at US$26.8m, the pre-tax loss declined by 41.8% to US$54.0m. However, a reduced tax credit meant that the net loss was just 5.5% lower at US$52.7m. The net debt at the end of February stood at US$627.3m to give a gearing level of 97.9%. Capital expenditure in the period was boosted by investment in the Hunter cement works in Texas and rose by ... |
Athi River pretax profit rises, Kenya28 March 2012, Published under Cement NewsKenya-based firm, Athi River Mining, posted a 23 per cent rise in 2011 pretax profit to KES1.36bn (US$16.4m), the company said while net profit came in at KES1150m. Turnover rose 37 per cent to KES8.2bn while cement sales increased 72 per cent helped by the commissioning of new capacities which came on-stream in late 2010. EBITDA rose 31 per cent from KES1.6bn in 2010 to KES2.2bn last year but operating margins were down two per cent in 2011 mainly due to the “rapid increases in cost of... |
Lafarge WAPCO reports 74% YoY net profit rise, Nigeria28 March 2012, Published under Cement NewsLafarge WAPCO’s net profit rose 74 per cent YoY to NGN8.51bn (US$397m) in the 12 months to December from NGN4.88bn a year earlier. The company said in a statement to the Nigerian Stock Exchange that sales advanced 43 per cent to NGN62.5bn. Lafarge WAPCO will pay a dividend of 75 kobo/share on 23 May, it said. The company took NGN45bn in loans to expand its plant in Ewekoro, western Nigerial which began production last September. |
PPC chief executive to step down at year-end, South Africa28 March 2012, Published under Cement NewsThe chief executive officer of South Africa’s Pretoria Portland Cement (PPC), Paul Stuiver, says he will stay on until the end of the to see the recruitment process for his successor through as his three year contract comes to an end. PPC is seeking a replacement for Mr Stuiver whose contract agreement ends in May. Mr Stuiver has agreed to stay on until year-end to allow for the completion of “critical commercial projects and for the recruitment process,” South Africa’s Business Daily rep... |
Fujian Cement reports marked rise in net profit, China28 March 2012, Published under Cement NewsFujian Cement recorded CNY124m (US$19.66m) in net profit last year, up a staggering 1434 per cent YoY, China Business Newswire citing the company’s annual report released in March 2012. Operating revenue rose 38.3 per cent to CNY1.88bn with basic earnings per share of CNY0.33. The company, which is headquartered in the Fujian province of China, plans to distribute a cash dividend of CNY0.5 (before tax) for every 10 shares held. |
Anhui Conch net profit up 87.8%, China27 March 2012, Published under Cement NewsAnhui Conch announced an 87.8% rise in net profit YoY to CNY11.59bn (US$1.8bn) on the back of higher prices and sales. This figure was in line with the company’s guidance released in January when it said it expected net profit to rise more than 80 per cent. Revenue in 2011 was up 41% to CNY48.65bn from CNY34.51bn. During the year, the company sold 158Mt of cement and clinker in 2011, up 15.22 per cent YoY. It also added 33.6Mt of clinker capacity in 2011, taking total volumes to 164Mt by... |