Cement News tagged under: corporate
Jidong Cement completes private bond placement, China01 February 2012, Published under Cement NewsTangshan Jidong Cement announced today that it has finished a CNY1.91bn (US$302.8m) private placement to a Hong Kong-based investment company, China Business Newswire reports. Tangshan Jidong Cement Co issued more than 134.75 million new shares to the Hong Kong company at RMB 14.21 apiece. The shares account for 10% of Tangshan Jidong Cement Co's enlarged share capital. |
Goldman Sachs cuts Buzzi Unicem's rating, Italy01 February 2012, Published under Cement NewsGoldman Sachs downgraded its rating on Buzz Unicem to "sell" from "neutral" due to signs of slowdown in the construction sector in Europe and the high energy prices, SeeNews Italy reports. The US bank, however, revised up its price target on Buzzi Unicem to EUR6.70 from EUR6.30 in a report on the cement sector. The construction sector outperformed the market by some six per cent in the past three months with the companies exposed to the USA benefiting from some improvement in the private... |
Jiangxi unit receives tax rebates, China01 February 2012, Published under Cement NewsJiangxi Wannianqing Cement announced on Tuesday that one of its units recently received CNY23.9m of tax rebates. The money will be counted into the unit's earnings in the first quarter of 2012, and CNY15.54m of the total shall be counted into the net profit of Jiangxi Wannianqing Cement Co, China Business Newswire reports. |
Afyon Cimento sale expected in February – source31 January 2012, Published under Cement NewsThe sale of Turkish cement producer Afyon Cimento is expected to be completed in February and 3-4 binding offers have been received, a source close to the matter disclosed to Reuters. Ciments Francais, a unit of Italcementi, said last May it may sell its 51 per cent stake in Afyon Cimento either through a block sale to a strategic investor or a public offering. |
Lucky Cement first-half boosted by higher prices, Pakistan31 January 2012, Published under Cement NewsPakistan’s Lucky Cement reported a net profit of PKR3.02bn (US$33.4m) in the 1HFY12, which is 107 per cent higher than the same period of last by a rise in demand and prices. The company's gross profit increased by 46.55 per cent during the half year as its net sales revenue improved by 27.82 per cent to PKR15.37bn against PKR12.03bn of last year. During the July-November period, prices were 17.3 per cent higher YoY due to a reduction in cement takes and just a 10.8 per cent rise in c... |
Steppe Cement sees 31% rise in revenue, Kazakhstan31 January 2012, Published under Cement NewsKazakhstan-based cement producer, Steppe Cement, reported a 31 per cent rise in revenue in 2011 to KZT14.07bn (EUR71.77m) compared to KZT10.74bn in 2010. Cement sales rose to 1.23Mt, up 6.5 per cent compared to the 1.15Mt recorded in 2010. The company said it maintained its market share in 2011 despite increased competition after two new factories commenced production during the year. Overall domestic sales in Kazakhstan increased to 6.2Mt, up nine per cent YoY. Imports were down 14 per ce... |
Increased sales drive Yanbu Cement’s net profit higher31 January 2012, Published under Cement NewsYanbu Cement reported a 23 per cent rise in 2011 net profit to SAR529m (US$141.1m) due to an increase in sales. The Saudi Arabian producer added in a bourse filing that earnings per share were SAR5.04, up from SAR4.1. |
Port Daniel cement plant project agreement, Canada26 January 2012, Published under Cement NewsSociété en commandite Gisement McInnis (McInnis) has entered into a partnership agreement with Cimbec Canada Inc to develop the Port Daniel cement plant and terminal project in the Gaspé Peninsula, Quebec, Canada. McInnis is a privately-held limited partnership controlled by Beaudier Inc., a private investment company held by the Beaudoin family. Agreements have been reached with all Cimbec Canada creditors and those of the operating entity Cimbec Inc, which is now a wholly-owne... |
Holcim secures loan for new Indonesia plant26 January 2012, Published under Cement NewsHolcim Indonesia has secured a US$150m to be used to expand its production capacity in Indonesia which this year is expected to be running at close to nominal grinding capacity. Bisnis Indonesia reported that the loan, which will be used to finish the construction of a new US$450m factory in Tuban, East Java, was provided by BNP Paribas and KWF IPEX-Bank of Germany. Construction of the 1.7Mta factory is currently underway and is expected to be completed in 2013. Holcim Indonesia is the ... |
Martin Marietta continues pursuit of Vulcan26 January 2012, Published under Cement NewsMartin Marietta Materials Inc, which began a hostile takeover of Vulcan Materials in December, released a list of five people it is pushing for election on Vulcan Materials' board of directors at Vulcan's annual meeting. North Carolina-based Martin Marietta filed a proxy statement with the Securities and Exchange Commission on Tuesday in connection with the proposal. It said in the statement it believes Vulcan's current board is not acting in the company's best interest.. "Vulcan refus... |