Cement News tagged under: corporate
Eurocement Ukraine 2011 narrows losses23 March 2012, Published under Cement NewsEurocement Ukraine has closed 2011 with a loss of UAH46.05m (US$4.3m), the company said in a statement. Eurocement Ukraine sustained losses of UAH117.474m in 2010, having reduced its net revenue by 9.47% (or UAH123.669m) to UAH 1182.794m compared with 2009. The company is a part of the Eurocement Group of Russia. |
FLSmidth to appoint new Group Executive Vice President23 March 2012, Published under Cement NewsCarsten R Lund will be appointed new Group Executive Vice President of FLSmidth & Co and member of the Group Executive Management in July 2012, when Mr Christian Jepsen resigns to join Alcoa, one of FLSmidth's global mining customers. Carsten Lund will be heading the new global Bulk Materials Division that was formed as part of the new FLSmidth Group structure announced on 21 February 2012 and will be relocating from the head offices in Denmark to the global technology centre for material ... |
Morgan Stanley bearish on China Building Materials Sector22 March 2012, Published under Cement NewsMorgan Stanley believes second quarter pricing for China’s building materials will still be lower than the first quarter as it expects 2Q demand seasonal recovery to be weaker than normal years due to the slowing construction pace of property developers. “We hold the view that developers will not reaccelerate construction activities until they have cleared their four-year high property inventories,” In addition, the supply side is facing pressure as well, especially from new capacity addi... |
Asia Cement 2011 net profit rises, China22 March 2012, Published under Cement NewsAsia Cement (China) Holding Corp said its net profit rose by 162 per cent YoY in 2011 to CNY1.34bn (US$212.6m). Meanwhile, basic earnings per share stood at CNY0.86. Citigroup has upped Asia cement to Buy from Sell and raised its target price to HK5.36 vs HK$2.71. The house expects earnings should bottom with selling prices in central China down 10 per cent YoY and volumes almost frozen. The house adds that Asia Cement's FY11 dividend yield was 5%, providing good cash income, and the c... |
Peruvian market acceleration21 March 2012, Published under Cement NewsPeruvian cement shipments have shown strong increases for the third month in a row indicating a recovery in public investment and an acceleration in domestic sales. Shipments reached 418,824t in February 2012, representing an 11.67 per cent YoY advance from 270,562t, the cement producers association (Asocem) reported. Cement production for the month was 448,199t, up 10.3 per cent on February 2011 (313,013t). Total shipments (domestic plus exports) for the first two months of 2012 ... |
Cemex Philippines signs deal for WHR plant21 March 2012, Published under Cement NewsCemex Philippines is to construct a waste heat recovery power plant at its Solid Cement plant in Antipolo City, Rizal Province. Cemex regional president for Asia, Joaquin Miguel Estrada, announced the plan following the signing of an agreement with Sinoma Energy Conservation of China who will build the waste heat-to-energy facility, a first for the Cemex group of cement plants worldwide. “Cemex is a company that wants to achieve a corporate objective of lower operational costs, and also pu... |
Government reverses decision on Athi River plant closure, Kenya21 March 2012, Published under Cement NewsKenya’s National Environment Protection Agency has retracted its order to shut down Athi River Mining’s plant, company chief executive Pradeep Paunrana, has said. Last week, Mr Paunrana told Reuter’s that the company expected sales and profit to rise this year, provided it resolved the dispute with the environment agency. Mr Paunrana said the company had submitted a plan of action to comply with the issues raised by the environment agency, which led the agency to withdraw its order. "We ... |
Lafarge extends EUR1.2bn credit facility, France20 March 2012, Published under Cement NewsLafarge said Tuesday it has extended its syndicated credit facility by two years from July 2013 to July 2015 for a total amount of EUR1.2bn. The extended facility supported by 24 lenders complements Lafarge’s bilateral lines of EUR2.2bn and brings total committed credit facilities to EUR3.4bn, Dow Jones reports. In total, these lines have an average maturity of 2.8 years and do not include any default clauses linked to financial covenants, credit ratings or Material Adverse Change (MAC). |
West China net profit down, acquisition announced20 March 2012, Published under Cement NewsWest China Cement said its net profit for the year ended 31 December 2011 declined by 28.43 per cent YoY to CNY662m (US104.7m). Meanwhile, basic earnings per share were about CNY0.16. Meanwhile, the Hong Kong-listed cement producer said its wholly-owned subsidiary has inked an agreement to buy a 55 per cent stake in Shaanxi Province-based cement company Shaanxi Shifeng Cement for CNY402m. According to the agreement, West China Cement has been granted an option to acquire another 10 per c... |
Lamarche to be named on Lafarge's board20 March 2012, Published under Cement NewsGerard Lamarche, managing director of Groupe Bruxelles Lambert, will be named on the board of French cement maker Lafarge. He will replace Thierry de Rudder. Lamarche, 50, graduated from the University of Louvain-la-Neuve in Belgium. He also completed the advanced management programme at the INSEAD Business School. Abstracted from an original article in Le Figaro. |