Cement News tagged under: corporate
Zimbabwe: PPC to empower community, workers13 February 2012, Published under Cement NewsPretoria Portland Cement (PPC) has agreed to transfer 10% of its shareholding to the Community Share Ownership Scheme to comply with the indigenisation and empowerment laws. The indigenisation and empowerment laws require foreign-owned firms to sell at least 51% of their shareholding to indigenous people. Informed sources say that PPC, in its plan to government, said it would also extend a cumulative 5% shareholding of the company to its workers. Workers owned 1.3% of the company before the... |
Qatar National Cement profit fell to QAR445m in 201113 February 2012, Published under Cement NewsQatar National Cement Co said its profit fell to QAR445m in 2011 from QAR467m in 2010 on reduced domestic demand. It added that it will pay a cash dividend of QAR6/share. |
FLSmidth wins Mongolia project10 February 2012, Published under Cement NewsFLSmidth has been awarded a contract worth approximately EUR86m from the Mongolian company, Mongolyn Alt (MAK) Group, to supply a greenfield cement plant. The plant will be located some 330km from the capital city Ulaanbaatar, Mongolia. FLSmidth will deliver all equipment, engineering and commissioning for the cement plant, which will have a capacity of 3000tpd. "This order is a great example of FLSmidth's technological strengths in both the cement and minerals industries, and it confi... |
Pacasmayo: substantial growth potential – report10 February 2012, Published under Cement NewsPeruvian cement producer, Cementos Pacasmayo, which completed a US$230m share offering in New York, has “substantial growth potential” with its cement plant expansion and phosphate project, said Eduardo Hochschild, chairman of the company’s owner Hochschild Group. “The share will go up, down, sideways and what have you, and that’s what it usually does,” Hochschild said from New York after the shares fell as much as 14.6 per cent, according to a Bloomberg report. “In liquidity, New York has... |
WR Grace splits Grace Davison business in two09 February 2012, Published under Cement NewsW.R. Grace & Co has split its Grace Davision business into two operating segments, a move the specialty-chemical company said would help it align more closely with its markets and reduce overhead costs. The split creates two new segments titled Grace Catalysts Technologies and Grace Materials Technologies. The company also has a construction-products segment, whose customers include cement and concrete producers.??Grace said the new catalysts business focuses on the technologies used in r... |
Sharjah Cement 3Q net profit rises due to lower costs08 February 2012, Published under Cement NewsSharjah Cement says its third quarter net profit rose AED6.7m (US$1.8m) from a loss of AED4.4m in the same period last year. The company said its performance was hampered by a falls in demand and prices, but was able to cut raw materials costs, resulting in higher profits, Gulfbase reported. Sharjah’s nine month 2011 net profit fell to AED27.3m from AED99.4m in the same period last year. Despite sales falling by about 25 per cent, its cost of goods sold also fell by 31 per cent, bringing ... |
Morgan Stanley lifts Lafarge price target08 February 2012, Published under Cement NewsMorgan Stanley has lifted the share price target of Lafarge from EUR36 to EUR42 and assigned an ‘equal-weight’ recommendations. Analysts at Morgan Stanley see optimistic prospects for the sector, reports SeeNews France, which increases its attractiveness. Last week Lafarge said it planned to cut 460 jobs worldwide as part of its reorganization plan presented on 21 November. Under the plan, the company will replace its current produt line-based organisation with a country-based structure. |
Morgan Stanley raises Japanese cement sector rating08 February 2012, Published under Cement NewsMorgan Stanley MUFJ Securities has set the Japanese cement sector’s rating to “attractive” – the highest ranking on its three-tier scale. According to a Nikkei report, analysts at the brokerage wrote that profits at cement firms will rise in line with their on-going efforts to cut costs. Higher prices, an increasing balanced supply and demand ratio and rising demand related to earthquake reconstruction efforts will also support the industry. The house also said that investors have unde... |
JK Lakshmi Cement board OKs buyback of shares, India08 February 2012, Published under Cement NewsJK Lakshmi Cement said its board of directors has approved the buyback offer of 13.5m equity shares at a price not exceeding INR70/share for a total consideration of up to INR975m, India Investment News reports. "The Board of Directors of the company at its meeting held on February 7, 2012, inter-alia, have approved the buyback of equity shares up to an amount of INR97.50 crore (INR 975m), at a maximum price of INR70 per equity share ie 1.39 crore equity shares of INR5 each from the open ... |
Akcansa and Cimsa seek acquisitions08 February 2012, Published under Cement NewsTwo of Turkey’s leading cement producers, Akcansa Cimento and Cimsa, plan two separate overseas acquisitions this year, Bloomberg reports. According to Mehmet Gocmen, Head of Haci Omer Sabanci Holding – which has a stake in both producers – said the companies are looking at purchases in Turkey’s geographical region. The targets could be base in central and southern Europe to the Caucasus and Middle East, he said. Mr Gocem noted that both Akcansa and Cimsa have sufficient equity to make the... |