Cement News tagged under: corporate
Cemex Espana increases offer for Readymix, Ireland07 February 2012, Published under Cement NewsThe Spanish unit of Cemex has increased its takeover bid for Readymix of Ireland by 13.6 per cent from EUR0.22/share to EUR0.25/share, the target company said in a statement on Monday. Cemex, which already owns 60 per cent of the Irish business, made the “possible offer” to buy the remaining 40 per cent of Readymix shares that it does not own last month through a Spanish subsidiary. A statement yesterday added that the committee has told Cemex that it would recommend the offer to share... |
UltraTech Cement to take control of Star Cement?07 February 2012, Published under Cement NewsUltraTech Cement is looking to purchase its partner’s stake in Star Cement to take full control of the Dubai-based cement producer, sources familiar with the deal have said, adding to the rumour mill that other UAE producers are ripe acquistion targets. "The group has an option to purchase the local partner's stake when they bought the majority control company from Dubai-based ETA Star Group," the Financial Express quoted a source as saying. However, OP Puranmalka, director of UltraTech,... |
Italcementi hit by lower Egyptian volumes and prices06 February 2012, Published under Cement NewsItalcementi's full year 2011 results have been impacted by its Egyptian operations which saw lower volumes and prices as the outlook for region remains uncertain. Italcementi’s turnover edged ahead by 1.3% last year to €4720.5m, but declined by exactly the same percentage on a comparable basis. Group cement shipments were down by 1.9% to 51.1Mt and the turnover from cement fell by 7.8% to €3056.3m, with cement volumes a bit higher in North America and in Asia but being lower elsewhere. In... |
Vicat sees generally favourable environments06 February 2012, Published under Cement NewsVicat’s turnover increased by 12.5% last year to €2265.5m, which represents an underlying improvement of 9.6%. The turnover in cement improved by 10.1% to €1137.6m and aggregates and concrete sales rose by 14.2% to €818.0m. Other activities increased turnover by 17.4% to €309.9m. Cement accounted for 52.1% of turnover, slightly lower than the 53.0% seen in 2010, but exactly the same as in 2009. Group cement deliveries advanced by 11.5% to 18.04Mt, helped by a full year’s consolidation of Bh... |
Siam City Cement 2012 growth forecast06 February 2012, Published under Cement NewsSiam City Cement Co (SCCC), Thailand’s second largest cement producer, posted 4Q11 net profit of THB252m, down 55.3 per cent YoY and 70.9 per cent QoQ. The decline is attributed to lower export sales and higher operating costs due to the Thai flooding, extra expenses from deferred tax adjustments of THB291m and extra expenses from reassessment of employees' pension of Bt150m. For 2012, analysts at TISCO Securities expect Siam City Cement’s profit to rise 27 per cent thanks to expected five ... |
India Cements expected to see rise in sales and net profit06 February 2012, Published under Cement NewsIndia Cements is expected to post net sales of around INR9.92bn compared to INR7.18bn a year ago due to higher sales and improved realisations. However, analysts are divided on net profit estimates. At the lower end, Motilal Oswal sees the company’s net profit at INR327m while at the higher end, Bank of America Merrill Lynch, expects it to be INR884m. During the corresponding quarter last year, the company posted a net profit of INR214.7m. |
Shree Digvijay Cement Company appoints director, India06 February 2012, Published under Cement NewsShree Digvijay Cement Company has appointed Luis Miguel Da Ponte Alves Fernandes, Antonio Carlos Custodio Do Morais Varela, as additional directors of the company with effect from 2 February 2012. Relieved Chain Singh Jasol from the office of the whole-time director of the company with effect from February 02, 2012. Jasol will continue to work with the company as vice president (Personnel, Admn and Mines). |
Eagle's results hit by negative arbitration award03 February 2012, Published under Cement NewsIncluding its share of the jointly-owned Texas Lehigh Cement, Eagle Materials turnover for the first nine months to 31 December, rose 4.7% to US$442.7m. Trading profit, before corporate overheads, declined 13.7% to US$49.4m, of which cement contributed 79.9%. The actual trading profit before exceptional items fell by 17.6% to US$36.8m. After a net interest charge 1.9% higher at US$13.4m and exceptional charges of US$11.2m, that includes a US$9.1m arbitration award against the group, the ... |
Lafarge to cut 460 jobs globally03 February 2012, Published under Cement NewsLafarge, said it would cut 460 jobs globally as part of a corporate restructure. The French company said 90 roles would go in France, with the others stripped out of worldwide corporate functions, according to reports in the Daily Telegraph. |
HeidelbergCement extends its €3bn credit facility02 February 2012, Published under Cement NewsHeidelbergCement has secured an extension of its €3bn syndicated credit facility, which was due to mature at the end of 2013, until 31 December 2015. All 17 original lenders have confirmed their participation and two additional lenders joined the syndicate. The €3bn multicurrency credit facility is intended as liquidity back-up and can be used for cash drawings and guarantees. Under the amendment, the margins increased by 25bps across the existing margin grid, with an additional 50bps pric... |