Cement News tagged under: corporate
Oyak Cement Group posts €73m net profit in Jan-Sep 201122 November 2011, Published under Cement NewsOyak Cement Group issued a statement to the ISE and said that the group companies posted a net profit of TRY 183m (€73m) and a sales revenues of TRY 830m in January-September. 15 ISE-listed cement companies posted a turnover of TRY4.3bn and a net profit of TRY504m in the same period, according to the statement from Oyak. Domestic cement demand increased by 12% YoY in H1 and Oyak Group retails its expectations that domestic cement sales will increase by 8% YoY in 2011 as a whole. The group’... |
Pakistan: Lucky Cement sees surge in local sales22 November 2011, Published under Cement NewsLucky Cement Limited, a company belonging to the Yunus Brothers Group, is the largest manufacturer and exporter of cement in Pakistan. With production facilities in Karachi and in Pezu, Lucky Cement is also Pakistan’s only cement manufacturer to have a loading and storage terminal at the Karachi port (KPT). Thanks to location advantages of being in the south, it is not surprising to know that Lucky accounts for more than one-third of the total cement exports from Pakistan and caters to the ... |
Italcementi’s Afyon unit jumps after Cimsa bids for 51% stake22 November 2011, Published under Cement NewsAfyon Cimento Sanayi TAS, a Turkish cement maker owned by Italcementi SpA’s Ciments Francais, headed for the biggest gain in almost three months after a rival Turkish cement maker bid for a 51% stake. Ayfon shares surged 9.8% to TRY112 (US$60.8) at 10:05 a.m. in Istanbul. Cimsa Cimento Sanayi & Ticaret AS made a bid for 51% of Afyon, Cimsa said in a statement to the exchange on Nov. 18 after the market closed. Cimsa shares gained 0.3% to TRY7.98. Ciments Français hired Mediobanca SpA as ... |
Caribbean cement market shows signs of a turnaround21 November 2011, Published under Cement NewsThe cement market rebounded in the third quarter, according to new data from primary supplier and producer Caribbean Cement Company Limited (CCCL), but not enough for its owners to raise their market outlook. CCCL general manager Anthony Haynes signalled that a price hike was imminent, citing eroded profit margins. CCCL has been exporting increasingly higher volumes of cement, but the September quarter has also seen a rise in sales in its home market by an annualised 14 per cent to 133... |
Armenia: Mika cement sustained losses by 15-20% in 201121 November 2011, Published under Cement NewsMika Cement, one of the largest companies producing cement in Armenia, sustained losses by 15-20% in 2011, said Naira Martirosyan the company’s general director. “This year production of cement reduced due to the decrease of activeness in construction sphere which is conditioned by global economic crisis and reduction of prices for construction material in the world market," she said. She said that the company is mainly producing for domestic market, and by the end of the year it is pl... |
IDA Officially accepts Arabian Cement’s payment proposal17 November 2011, Published under Cement NewsEgypt’s Arabian Cement Company (ACC), which had recently held a press conference to discuss its issues regarding their local and international legal cases related to the Government of Egypt, has just announced that they have reached an agreement with the Egyptian Industrial Development Authority. ACC had requested to pay EGP 8m per month until a verdict is issued in their local case at the State Council Administrative Court. The request was presented to the IDA Board of Directors and the de... |
Thailand’s TPI Polene’s margins squeezed17 November 2011, Published under Cement NewsTPI Polene (TPIPL) posted a sharp QoQ decline in normalised earnings for 3Q11 due to reduced sales and margin. TPIPL booked a net profit of THB7.43bn for 3Q11. However, this was mainly due to the reversal of provisions for a fine of THB6.9bn. Note that the reversal of provisions is still uncertain as the case has not yet been finalised. Excluding this item, the company booked a normalised profit of THB533m, down 3% YoY and 50% QoQ. The QoQ fall was attributable to: 1) a 7.8% decline in s... |
Lafarge WAPCO’s 4Q11 profit seen rising, Nigeria17 November 2011, Published under Cement NewsLafarge Cement WAPCO Nigeria Plc should expect improved returns for the year ending December 31, 2011, as the company last projected a profit after tax of NGN1.016bn for the fourth quarter of the year. The quarter covers the months of October, November and December. According to the profit forecast by the company made available by the Nigerian Stock Exchange (NSE), a turnover of NGN18.658bn for the three months. Given the nine months result of the company declared recently, analysts said t... |
Split of non-cement assets "neutral" for Argos17 November 2011, Published under Cement NewsThe recently-announced decision by Colombia’s largest cement fir, Cementos Argos, to sell its non-cement assets to its investment arm, Inversiones Argos (Inverargos) is neutral and has potential upside, according to Chilean financial services firm Celfin Capital. Argos’ assets include stakes in publicly-traded companies such as financial holding Grupo Sura, food conglomerate Nutresa, and Colombia’s largest bank, Bancolombia (NYSE: CIB). Real estate, ports and coal assets will also be divest... |
Vietnam cement producers suffer losses17 November 2011, Published under Cement NewsDeclining cement consumption, along with rising input costs has resulted in Vietnam’s cement industry suffering losses worth VND220bn (US$10.53m) during the first 10 months of the year, reports Vietnam News. During the same period, Viet Nam Cement Industry Corporation or VICEM’s members have seen their market shares decrease significantly by three per cent. The corporation said that low demand due to the freezing property market, high lending interest rates, a reduction on public investmen... |