Cement News tagged under: corporate
Asia Cement upgraded to "buy"09 December 2011, Published under Cement NewsUOB Kay Hian upgraded Asia Cement (00743) to "buy" from "hold" on a favourable regional turnaround story, and maintained its target price at HK$6.17. The house believes downside risk on cement price in Sichuan should be limited given demand pick-up and peaking of new capacity. Sichuan accounts for 28% of Asia Cement’s total capacity. |
Siam City announces retirement of Executive Committee member08 December 2011, Published under Cement NewsSiam City Cement has announced the early retirement of Nopporn Thepsithar, Senior Vice President (Logistics), a member of the Executive Committee. The retirement will take effect from 1 February 2012. |
O’Mahony to step down from CRH board08 December 2011, Published under Cement NewsFormer CRH chief executive, Liam O’Mahony plans to step down from the building-material group’s board at the end of the year. Mr O’Mahony retired as group chief executive at the end of 2008, when he was succeeded by Myles Lee. CRH announced that Mr O’Mahony will retire from the Board with effect from 31st December 2011. He joined CRH in 1971 and the Board in 1992 and was Chief Executive from 2000 until 2008. Following his retirement as an executive, he remained on the Board in a non-execut... |
Anhui Conch raises stake in Jidong Cement, China08 December 2011, Published under Cement NewsHebei Province-based cement manufacturer Tangshan Jidong Cement Co Ltd announced yesterday that Anhui Conch Cement Co Ltd bought 6.07 million shares or a 5% stake in it through a block trade, sources reported. After the acquisition Anhui Conch Cement now holds 182 million shares, or a 15.05% stake, in Tangshan Jidong Cement. |
CRH announces entry to FTSE UK index series08 December 2011, Published under Cement NewsCRH notes the announcement issued 7 December 2011 by FTSE confirming that CRH will be included as a constituent of the FTSE 100 and FTSE All Share indices from close of business on Friday 16th December. CRH remains included in the MSCI Euro indices, the EuroStoxx indices and in the ISEQ 20 and ISEQ Overall indices, among others. |
JP Associates on look-out for strategic investor, India07 December 2011, Published under Cement NewsManoj Gaur, executive chairman of Jaiprakash Associates has said that the company is on the look-out for a strategic investor in the cement business. This comes following the company board decision to hive-off the Andhra Pradesh and Gujarat plants in an attempt to reduce debt on books of the parent company. Speaking to CNBC-TV18 , he says that cement capacities other than ones in Gujarat and AP will remain with the parent company. “Jaiprakash Associates will retain majority control over ... |
Holcim Indonesia eyeing over 20% rise in net profit07 December 2011, Published under Cement NewsPT Holcim Indonesia, the local unit of Holcim Ltd sets net profit target at IDR1trn (US$112m) this year or a 20.7 per cent rise from last year. Holcim deputy finance director Irman B. Andriesjah said the profit forecast is based on sales expected to reach IDR7trn this year. The country’s third largest cement producer is set to post sales totaling 7.3Mt or an increase of 30 per cent from last year, Irman said yesterday. For 2012 the company is aiming for sales to rise three per cent to 7.... |
Adelaide Brighton Forecasts decline in 2011 net profit07 December 2011, Published under Cement NewsAdelaide Brighton Ltd Wednesday forecast net profit this fiscal year in a range of A$146m-A$152m (US$149.6m-$155.7m), compared with an actual A$151.4m in the fiscal year ended Dec. 31. National demand for cement in 2011 is similar to 2010, while demand for concrete products remains weak due to soft housing and retail activity, the company reported. Excluding a temporary shutdown of a major lime customer in the Northern Territory in the fiscal first half, full-year lime sales will be about ... |
Sinai’s nine month net profit drops, Egypt06 December 2011, Published under Cement NewsSinai Cement (SCEM) reported consolidated financial results posting a net profit of EGP317.9m (US$52.9m) for the first nine months of 2011. It posted net profits of EGP542.8m for the comparable period of 2010. |
Indian companies surge while demand remains sluggish06 December 2011, Published under Cement NewsShares of large Indian cement companies have surged to 52-week highs in recent weeks despite demand remaining sluggish, raising concerns that cement producers may be colluding to keep a control over supply so that prices remain high. Shares of cement companies such as Ambuja Cement, ACC, UltraTech and Madras Cement have gained 6-8 % in the past couple of weeks compared to the 5% rise of the Nifty. Most of these shares are hovering around their 52-week highs. "Price collusion has driven up... |