Cement News tagged under: corporate
Buzzi Unicem appoints new director, Italy09 March 2012, Published under Cement NewsThe Board of Directors of Buzzi Unicem appointed Prof. Ester Faia as independent director, to replace Prof. Elsa Fornero who resigned in November 2011 to take up office as the Minister of Welfare. |
S&P: Votorantim Industrial rated 'BBB', outlook stable08 March 2012, Published under Cement NewsStandard & Poor's (S&P) Ratings Services assigned a 'BBB' global-scale and 'brAAA' national-scale corporate credit ratings on Votorantim Industrial S.A. (VID). The outlook is stable, reflecting VID's solid operations thanks to strong cash flows from its cement operations, which compensated for the weaker results from its metals and steel businesses. S&P stated: “We believe the still strong demand for cement will buoy its cash flows, which, coupled with its strong cash position, should kee... |
Henan Tongli Cement net profit surges, China08 March 2012, Published under Cement NewsHenan Tongli Cement, a cement producer based in the Henan Province of China, announced a net profit of CNY240.74m (US$38.1m) for 2011 which represents an 87.35 per cent YoY increase. Operating revenue, meanwhile, totaled CNY4.02bn, up 44.6 per cent on the previous year. |
Semen Dwima Agung to be incorporated into parent company, Indonesia08 March 2012, Published under Cement NewsPT Semen Dwima Agung will be incorporated into parent company PT Holcim Indonesia in a moved aimed at reducing production costs, reports the Jakarta Post. According to the financial report at of December 2011, Semen Dwima Agung help IDR83.12bn (US$9.15m) in assets, with liabilities of IDR96.85bn. The company suffered a net loss of IDR10.55bn in 2011, a significant setback after losing IDR1.79bn in 2010. Semen Dwima Agung holds licenses to quarry, produce cement and mine clay. The compa... |
TCL: strike negotiations on the cards, Trinidad08 March 2012, Published under Cement NewsGeneral manager of Trinidad Cement (TCL) Satnarine Bachew said yesterday that some striking works have responded to the company’s invitation for individual negotiations and return to work. Letters outlining the company’s terms and conditions were sent to 600 employees. Bachew said: “The employees have been responding to the offer and we continue to get responses from employees.” Ancel Roget, president general of the Oilfields Workers’ Trade Union (OWTU), has rejected the company’s latest ... |
Grasim appoints managing director, India08 March 2012, Published under Cement NewsThe Aditya Birla Group of India on Tuesday appointed KK Maheshwari as managing director of Grasim Industries as the company prepares to grow its businesses in India and overseas. Maheshwari, who has been whole-time director of Grasim until now will assume charge as MD immediately, a post created for the first time in the history of the 65 year old company. "The Grasim board decided to have a managing director to assist the chairman in implementing growth plans for the company," Maheshwari ... |
Holcim Indonesia net profit advances07 March 2012, Published under Cement NewsHolcim Indonesia reported a rise of over 20 per cent in revenue and net profit last year, as the company progresses with plans to raise capacity in this thriving market. The company reported a net profit of IDR1.06trn in 2011, up 28.33 per cent from IDR828.42bn the year before. Revenue reached IDR7.52trn, representing an increase of 20 per cent from IDR5.96trn YoY. However, the cost of sales increased 25 per cent last year to IDR4.67trn last year but the company reported gains from ... |
Shriram EPC to buy 68% stake in Jayajothi Cement, India07 March 2012, Published under Cement NewsShriram EPC confirmed it would buy a 68 per cent stake in Sree Jayajothi Cements Ltd, along with its group companies, reports the Business Standard of India. The acquisition will be carried out by Shriram EPC and a special purpose vehicle floated by other Shriram Group companies. Last month the paper reported that the Shriram Group was planning to acquire a stake in the Andhra Pradesh-based cement producer by converting its dues into equity. Speaking to Business Standard, Shriram EPC m... |
China Resources 2011 sales rise, expansion plans06 March 2012, Published under Cement NewsChina Resources Cement Holdings, reported a rise in revenues for 2011 and outlined plans for further capacity expansion. The company, which is the largest cement producer in South China, earned HK$4.18bn in net profit attributable to shareholders last year, reflecting YoY increase of 105 per cent. Last year the company’s cement, clinker and concrete sales surged 49.4 per cent, 104.3 per cent and 28.4 per cent, respectively. Average cement sales prices increased 10 per cent to CNY369.5... |
Italcementi’s profits drop by four-fifths05 March 2012, Published under Cement NewsItalcementi’s turnover edged ahead by 1.3% in 2011 to €4720.5m but the underlying EBITDA came down by 17.2% to €697.3m and impairment charges saw the trading profit drop by 65.2% to €129m. Net financial charges were reduced by 10.2% to €84.7m. A 39.9% reduction in exceptional costs and an increased contribution from the Canadian associates left the pre-tax profit 80.8% down at €53m, while at the net attributable there was a €3.1m loss compared a profit of €45.8m. Net debt at the end of 20... |