Cement News tagged under: corporate
Taiheiyo Cement’s operating FY14 target, Japan19 March 2012, Published under Cement NewsJapan’s Taheiyo Cement plans to increase group operating profit by around JPY50bn (US$598.8m) in fiscal year 2014 (FY14), an increase of 90 per cent on its projection for the year ending March 31. The Nikkei reports that the target will be included in a forthcoming business plan that runs through the year ending March 2015. The projections are based on total domestic demand rising four per cent to 43Mt in fiscal 2014. Japan’s leading cement producer anticipates a 2Mta boost from earthquake ... |
West China Cement buys stake in Shifeng Cement16 March 2012, Published under Cement NewsWest China Cement has agreed to acquire a 55% interest in Shaanxi Shifeng Cement at CNY401.5m. The company has been granted an option to acquire a 10 per cent interest in Shifeng Cement for CNY73m. Shifeng Cement operates a 4500tpd clinker line with an annual capacity of 2Mta. |
HeidelbergCement lifts revenues, raises savings target16 March 2012, Published under Cement NewsGerman cement major HeidelbergCement has reported a rise in revenues in 2011 driven significantly by its exposure to attractive growth markets, continuing recovery in most group markets and successful implementation of its “FOX 2013” improvement programme. “The year 2011 was a further consistent step towards reaching our strategic goals”, says Dr. Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “We increased revenue and results despite the unexpectedly heavy rise in e... |
Fitch rates Rain Commodities at 'Fitch A-(ind)'; outlook stable15 March 2012, Published under Cement NewsFitch Ratings has assigned India's Rain Commodities Limited (RCOL) a National Long-Term rating of 'Fitch A-(ind)'. The Outlook is Stable. However, ratings are constrained by volatility in cement prices and sector overcapacity. Fitch has taken a consolidated view of RCOL's cement and calcining businesses, both operated by its subsidiaries, for the rating purpose. While India's Rain Cement Ltd ('Fitch A-(ind)'/ Stable) holds the cement operations, RCOL's calcining business is operated in I... |
Cementos Portland Valderivvas debt reduction plans, Spain15 March 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderivvas is looking to reduce debt to around EUR1bn from the current EUR1.3bn with two options on the cards. The company is looking for institutional investors to subscribe to its forthcoming capital hike, the proceeds of which will allow Cements Portland to cut debt. It is also considering the divestment of it Giant subsidiary in the USA and reduce its workforce by some 500 employees, Cinco Dias reports For this year, the company is planni... |
Hilal Cement boosts net profit, Kuwait15 March 2012, Published under Cement NewsHilal Cement of Kuwait reported a surge in net profit to KWD1.22m (US$4.4m) for 2011 from KWD714,937 a year earlier. Earnings per share for the cement producer were 17 fils compared with 10 fils the year before. Total assets stood at KWD22.4m at end-2011, slightly up from the KWD21.8m in 2010. The board has recommended a 15 per cent cash dividend for 2011, equal to 15 fils per share. |
Sibirsky to pay out EUR4m on failed Set deal, Russia15 March 2012, Published under Cement NewsSibirsky Cement has paid out over EUR4m to the London branch of Netherlands-based ING Bank NV regarding a failed deal between the Russian producer and Italcementi for Turkish assets, according to local press reports. In 2008, Sibirsky concluded an agreement with ING Bank to organize the purchase financing of the Italcementi Set Group of Turkey which is a subisidiary of Ciments Francais (which, in turn is a unit of Italcementi). The deal was not completed and the bank demanded compensation... |
Dyckerhoff sales increase14 March 2012, Published under Cement NewsGerman-based Dyckerhoff increased sales by EUR186.8m (or 13.2 per cent) to EUR1.6bn compared to 2012. The company said it benefitted considerably from a mild winter which facilitated cement and concrete deliveries through the year. This led to volume increases of 15 and 19 per cent, respectively. Group EBITDA rose by EUR72.4m (33.1 per cent) to EUR291m. This includes positive one-time effects totaling EUR6.3m, mainly from the sale of a former office building in Luxembourg. This compares t... |
Pakistan industry first-half profitability improves14 March 2012, Published under Cement NewsA number of Pakistan cement manufacturers and exporters have posted profits after tax for the first six months of the current fiscal year against losses reported in 1HFY2011. The rise is attributed to significantly improved retention prices and alternative energy resources. According to a financial review by Invest Capital Markets Ltd, out of 16 companies (representing 96 per cent of the sector’s market capitalization) most reported a profit. The sector reported an impressive turnaround i... |
S&P revises down Lafarge outlook to ‘negative’14 March 2012, Published under Cement NewsStandard & Poor’s (S&P) has revised its outlook on Lafarge from ‘negative’ to ‘stable’ while keeping its BB+ long-term and B short-term credit ratings on the French cement producer. A revision to the outlook is possible, the ratings agency has said. S&P stated that the group may not be able to improve credit metrics in 2012 from the very weak levels registered at the end of 2011. The agency noted that Lafarge’s earnings declined in 2011 due to a difficult operating environment which saw ri... |