Cement News tagged under: corporate
Anhui Conch expects 80% rise in net profit, China11 January 2012, Published under Cement NewsAnhui Conch, China’s largest cement producer by output, said today it expects to register an increase of over 80 per cent for the year ended 31 December 2011. The company attributes the rise to higher product prices and sales volumes as it continued to respond to changes in the macroeconomic environment, strengthen its internal operations and enhance its integration into regional markets. For 2010, the Hong Kong and Shanghai-listed company achieved a net profit of CNY6.17bn (US$0.977m) acc... |
High Court reinstates suspended EAPCC chiefs, Kenya11 January 2012, Published under Cement NewsThe East African Portland Cement (EAPCC) board and the managing director have been reinstated by the High Court, according to local news reports from All Africa. They had been suspended by acting Industrialisation minister Amason Kingi. This means that the newly-appointed acting MD Peter Korir will not assume office until the case has been heard and determined. While granting the orders, Commercial judge Joseph Mutava barred the minister from “meddling” with the internal management of th... |
CPA announces appointment of new Chief Executive, UK10 January 2012, Published under Cement NewsDr Diana Montgomery, who is currently the Deputy Chief Executive at the Chemical Industries Association, has been appointed as the new Chief Executive of the Construction Products Association, UK. She will take over from Michael Ankers who retires at the Association’s AGM in April. Diana graduated from Oxford University with a chemistry degree and was subsequently awarded a Doctor of Philosophy for her work on Environment and Waste Resources at the Imperial College, London. Before joining ... |
Ash Grove organisational changes, USA10 January 2012, Published under Cement NewsAsh Grove Cement Company has announced manufacturing department organisational changes as retirements lead to transitions among leaders. “With the impending retirement of two key leaders in the Ash Grove Cement Company’s manufacturing organization during the first half of 2012, the company is beginning the transition to our new reporting structure,” said Michael J. Hrizuk, senior vice president - manufacturing. "The changes were effective January 1, 2012, according to Hrizuk. Ron Vidergar... |
S&P downgrades West China Cement outlook10 January 2012, Published under Cement NewsStandard & Poor's Ratings Services said today that it had revised its outlook on the long-term corporate credit rating on West China Cement Ltd. (WCC) to negative from stable. At the same time, we affirmed the 'BB-' long-term corporate credit rating, and the 'BB-' issue rating on the company's outstanding senior unsecured notes. We also lowered our Greater China scale rating on the company and its notes to 'cnBB' from 'cnBB+'. "We revised the outlook on WCC because we expect the company's p... |
UBS cuts HeidelbergCement's price target10 January 2012, Published under Cement NewsUBS said it reduced the share price target of HeidelbergCement to EUR 37.50 from EUR 38 but affirmed its "buy" stock recommendation. Analyst Gregor Kuglitsch said he reduced his earnings per share (EPS) expectations for 2011 to 2015 by 12% on average. This is based on lower EBIT expectations, mainly for the company's European business, and also due to higher interest charges and lower carbon dioxide prices. These would be only partially offset by positive exchange rate effects. |
Yamama Saudi plans 50% capital hike, Saudi Arabia10 January 2012, Published under Cement NewsSaudi's Yamama Saudi Cement Company plans to increase its capital by 50 per cent through a bonus share issue, the firm said in a bourse statement. The firm will increase its capital to SAR2.025bn (US$540m) from SAR1.35bn, the statement said on Sunday. "The Capital Market Authority (approved) Yamama Saudi Cement's request to increase its capital from SAR1.35bn to SAR2.025bn through issuing one bonus share for every two existing shares," it said. "Such increase will be paid by transferring ... |
BBMG Corp sales up 25.62 per cent, China10 January 2012, Published under Cement NewsBBMG Corp announced yesterday that its cement sales jumped 25.62 per cent YoY to 27.85Mt last year. The company said in a statement that it produced 27.93Mt of cement in 2011, reflecting a robust growth of 33 per cent from the previous year. The Hong Kong-listed company saw its production output and sales of clinker reach 30.4Mt and 9.83Mt last year, up 40.74 per cent and 40.03 per cent YoY, respectively. |
Tabuk Cement announces dividends, Saudi Arabia10 January 2012, Published under Cement NewsThe management board of Saudi cement producer, Tabuk Cement Company (TCC), decided to recommend to shareholders a cash dividend of SAR0.5/share (US$0.133), or a total SAR45m, for the second half of 2011. If the dividend payout is approved, the total dividend for 2011 will come in at SAR1.4 per share, or a total SAR126m, as the company has already paid a dividend of SAR0.9 per share for the first half of 2011. For the nine months to September 2011, TCC said its net profit for January-Septem... |
Peru’s Cementos Pacasmayo goes to Wall Street09 January 2012, Published under Cement NewsIn a document filed to the US securities regulator, Cementos Pacasmayo details is plans to raise up to US$250m via a NYSE IPO. It intends to use the funds raised for capital expenditures and general corporate purposes to expand its business. The IPO will be led by JP Morgan Securities and Santander Investment Securities. |