Cement News tagged under: corporate
ACC net profit up 36%, Saudi Arabia16 December 2011, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) saw its net profit for January-September 2011 surge by 36% YoY to SAR332.7m (US$88.7m). Earnings per share (EPS) stood at SAR4.16, up from SAR3.06. The company attributed the increase in bottom-line figures to rising production and sales volumes, but did not give exact figures. The operating profit jumped by 48.2% to SAR363.5m for the nine months of 2011. For the third quarter of 2011, the company registered a net profit of SAR104.9m, an i... |
Moody’s downgrades Italcementi16 December 2011, Published under Cement NewsMoody’s Investor Services has downgraded Italcementi’s (and subsidiary Ciments Francais) rating from from Baa3 to Ba1. The outlook is negative. Simultaneously Moody’s downgraded the senior unsecured ratings of Italcementi Finance and Ciments Français to Ba1. “This decision follows similar actions adopted by the rating agency for almost all the major companies of the cement sector. It was largely signaled by Moody’s and discounted by investors in our Group’s outstanding bonds - underlines G... |
Jidong Cement gets VAT refund, China15 December 2011, Published under Cement NewsTangshan Jidong Cement Co Ltd, a cement producer based in Hebei Province, said yesterday that it and its subsidiaries received a total of CNY330m in value added tax refunds as of December 13th of this year and all the money will be counted into the earnings of the companies. |
China Tianrui Cement launches Hong Kong IPO15 December 2011, Published under Cement NewsChina Tianrui Group Cement, a leading producer in the Henan and Liaoning provinces, yesterday kicked off both the institutional roadshow and the retail offering for an initial public offering of between HK$996.17m and HK$1.45bn (US$124m to $186m). The company is offering 400.9 million shares at a price ranging from HK$2.41 to HK$3.61 each, according to a term sheet. The deal size could be increased to as much as US$214m if the 15% greenshoe is exercised in full. The offering accounts for 16... |
JK Lakshmi Cement 2Q net profit up 13%, India14 December 2011, Published under Cement NewsJK Lakshmi Cement today reported 12.67 per cent rise in net profit at INR6.49 crore for the quarter ended September 30. The company had reported Rs 5.76 crore net profit in the July-September quarter of last fiscal, its Whole-Time Director Shailendra Chouksey told reporters here. Its net sales grew to Rs 354.13 crore from Rs 266 crore a year ago, buoyed by rising sales that stood at 11.27 lakh tonnes during this period from 9.45 lakh tonnes a year-ago. Chouksey said that though sales were... |
Sika to acquire Axim from Italcementi14 December 2011, Published under Cement NewsSika is to acquire the global concrete admixtures and cement grinding aids businesses of Italcementi Group (directly or indirectly controlled by Italcementi or Ciments Français), which are on the market under the brand Axim. Axim has approximately 150 employees and through six legal entities operates several production units and sales organizations in Italy, France, USA, Canada, Morocco and Spain. In 2010 Axim generated sales of around EUR61m. Axim has an history of over 30 years in the ma... |
HeidelbergCement strengthens its financing structure14 December 2011, Published under Cement NewsHeidelbergCement has successfully issued debt certificates in the amount of EUR289m, thereby further strengthening its financing structure. Due to high demand, it was possible to significantly increase the issue volume from an initial EUR150m to EUR289m. The newly-issued debt certificates, with a maturity date of 31 October 2016, consist of two tranches: one tranche with a floating rate and the other with a fixed coupon. The fixed rate tranche yields at 6.77% pa and the floating tranch... |
Martin Marietta Materials launches US$4.7bn bid for Vulcan14 December 2011, Published under Cement NewsMartin Marietta Materials, a leading US maker of crushed stone and gravel, on Monday unveiled a hostile US$4.7bn takeover bid for Vulcan Materials Co after private negotiations failed. Martin Marietta said it had delivered a tax-free stock-swap offer to US rival Vulcan “to create a US-based company that is the global leader in construction aggregates with a footprint reaching across North America.” “We are bringing our proposal directly to Vulcan’s shareholders after Vulcan ceased particip... |
Cemex receives payment for Venezuela assets14 December 2011, Published under Cement NewsCemex announced that it has received payment of US$600m from the Government of the of Venezuela and its public entity Corporacion Socialista del Cemento,. as compensation for the nationalization of Cemex Venezuela. In addition, US$154m of accounts payable by Cemex subsidiaries to Cemex Venezuela have been cancelled. Compensation was paid US$240m in cash and in various negotiable securities issued by Petroleos de Venezuela, SA that during their full term pay an aggregate total of US$360m. |
Yanbu reports 58 per cent rise in net profit, Saudi Arabia12 December 2011, Published under Cement NewsYanbu Cement says its unaudited annual results show that net profits grew 58% for fourth quarter, up from SAR100m (US$26.6m) in 2010 to SAR158m (US$42.1m) in Q4 2011. Fourth quarter figures also surpassed those of 3Q11 by 26.4%. |