Cement News tagged under: corporate
CRH upgraded by Deutsche Bank20 December 2011, Published under Cement NewsCRH was upgraded by equities research analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. Separately, analysts at UBS downgraded shares of CRH from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Analysts at Goldman Sachs downgraded shares of CRH from a “buy” rating to a “neutral” rating in a research note to investors on Friday, December 9th. Also, analysts at HSBC downgraded shares of CRH fro... |
Deutsche Bank raises Holcim share target20 December 2011, Published under Cement NewsDeutsche Bank today lifted the share price target on Holcim to CHF50 from CHF48 and maintained its "hold" recommendation. The share price target is being adjusted on the perspectives for the cement market for the 2012-2015 period as well as on the recent currency changes, analyst Luis Prieto Bartolome wrote in a study. In 2012, sector companies are expected to face difficulties resulting from over-capacities and the margins are seen remaining under pressure, the analyst said. However, tha... |
China property curbs hurts demand20 December 2011, Published under Cement NewsChinese cement stocks are lower on falling cement prices as property tightening measures weigh on sales volume and prices of homes in China, reports Dow Jones. Anhui Conch Cement Co is down 1.5% at CNY14.95, and Tangshan Jidong Cement Co is down 1.1% at CNY15.63. "The property tightening measures suppressed demand for related construction materials, which will have a material impact on local cement companies’ profitability," says Luo Guo, an analyst from Orient Securities in a research n... |
China Tianrui raises US$124m in Hong Kong IPO20 December 2011, Published under Cement NewsChina Tianrui Group Cement Co, in which US private equity company Kohlberg Kravis Roberts & Co has a minority stake, has raised US$124m in a Hong Kong initial public offering after pricing its deal at the bottom of the indicative price range, a person familiar with the situation said Monday. The Henan-based cement company sold 400.9 million shares at HK$2.41 each, the source said. The deal’s indicative price range was HK$2.41-HK$3.61. The company is scheduled to list on the Hong Kong stock... |
EAPCC to cut red tape in its operations, Kenya20 December 2011, Published under Cement NewsA move by the National Social Security Fund to divest from East African Portland Cement Co (EAPCC) will reduce the red tape associated with State firms, the cement producer has said. East African Portland Cement chairman Mark ole Karbolo last week said decision-making and procurement procedures would now be eased with the absence of government bureaucracy. He said this would enable the company to respond robustly to market changes. "This is good news to Portland investors because the requi... |
PPC acquires stake in Habesha Cement, Ethiopia20 December 2011, Published under Cement NewsSouth Africa’s Pretoria Portland Cement Company (PPC) has become the largest shareholder in Habesha Cement (HC) acquiring 10 per cent shares worth ETB70m last week, according to local press reports. A memorandum of understanding (MoU) was signed in December 2010, last year, for the acquisition of 15 per cent of the shares. However, negotiations took a long time afterwards. The South African company had contacted Ernst & Young (EY) to consult with it on the feasibility of Habesha’s project ... |
Asia Cement, Holcim Philippines rise on reconstruction efforts20 December 2011, Published under Cement NewsHolcim Philippines Inc, the nation’s biggest producer of cement, advanced 5.8 per cent to PHP8.78, set for the sharpest gain since November 17 on prospect demand for the building material will be boosted by reconstruction in areas hit by Tropical Storm Washi. Southeast Asia Cement Holdings Inc rose 2.7 per cent to 1.51 pesos, heading for the highest close since August 16. “Rebuilding and repairing the affected areas will benefit cement and construction companies,” said Astro del Castillo,... |
But Son Cement 2011 estimates, Vietnam20 December 2011, Published under Cement NewsVicem But Son Cement JSC (BTS) estimates that it would have revenues of VND2.7trn (US$128.57m) this year. The company made a net profit of VND7bn on revenues of VND1.89trn in the first nine months of this year, down 89% and up 136.3% YoY, respectively. Its total assets were VND5.5trn, including equity of VND1.24trn at end-September. |
YTL Industries offers to acquire YTL Cement19 December 2011, Published under Cement NewsYTL Industries Bhd, a wholly-owned subsidiary of YTL Corp Bhd, has made a conditional share exchange offer to acquire the entire equity interest and all outstanding irredeemable convertible unsecured loan stocks in YTL Cement Bhd. The offer would be through the issuance of ordinary shares of 10 sen each in YTL Corp at an issue price of MYR1.42 each. In a filing to Bursa Malaysia today, YTL Corp said the relatively low trading activity on YTL Cement shares did not present shareholders with ... |
Semen Baturaja Plans IPO by 2012, Indonesia19 December 2011, Published under Cement NewsPT Semen Baturaja (Persero) is planning to sell 25 per cent of its shares to the public by 2012. “We’ve suggested it before. We hope to achieve this by the end of the year,” the State-Owned Enterprise Ministry’s strategic and manufacturing industries deputy, Irnanda Laksanawan, said in Jakarta . The initial public offering (IPO) is expected to reap IDR1trn. The government said it hopes the IPO fund can be utilised to increase production capacity and go toward the construction of a new fact... |