Cement News tagged under: corporate
Century Textile up on UltraTech merger report, India14 October 2011, Published under Cement NewsShares of Century Textiles gained on report that the process of merging the cement business of Century Textiles with UltraTech may have started, said two institutional dealers and two analysts. The Business Standard paper reported on Friday quoting sources the merger process had started and the deal was likely to be inked in a few months. The company refused comment to the paper on the story, the report said. |
Texas Industries (TXI) suspends quarterly dividend13 October 2011, Published under Cement NewsIn view of continued uncertainty regarding the timing of a recovery in the construction industry, the Board of Directors of Texas Industries, Inc today announced the suspension of its quarterly cash dividend, effective immediately. |
Saudi Cement posts 39% 3Q profit rise13 October 2011, Published under Cement NewsSaudi Cement Co reported 39 percent rise in its third-quarter net profit, analysts forecasts. The firm made a net profit of SAR195m (US$52m) in the three months to end-September, compared with SAR140m a year earlier. Four analysts surveyed by Reuters expected the firm to post, on average, SAR171.9m in net profit for the third quarter. |
Vietnam Cement firm SDG net profit falls 37% in Jan-Sept12 October 2011, Published under Cement NewsSadico Cantho JSC (SDG), listed on the Hanoi Stock Exchange, said it made a net profit of VND12.13bn (US$581,400) in the first nine months of this year, falling 37% from a year earlier and meeting 75% of its full-year target. Revenues rose 17% on year to VND198.37bn during Jan-Sept, fulfilling 99% of its plan for 2011, it said in a quarterly financial report. Its financial costs increased 3.3% on year to VND8.6bn. The nine-month earnings per share was VND1866, down 37% on year. SDG earne... |
Hail Cement to start trading on Sunday, Saudi Arabia12 October 2011, Published under Cement NewsShares in Hail Cement Company will start trading this Sunday on Saudi Arabia’s Tadawul Stock Exchange in Riyadh, according to the country’s chief financial regulator. The Capital Market Authority added that the company will be traded within the cement sector and will have no price limit for the first day only. The company officially listed on 26 September. It will be the tenth cement company to list on the Tadawul. The cement index – an aggregate of the companies’ share performances, has r... |
Southern Province reports 51.3% net profit rise, Saudi Arabia12 October 2011, Published under Cement NewsSouthern Province Cement Co, Saudi Arabia’s biggest cement company by market value, said yesterday its third-quarter net profit surged 51.3% to SAR180m (US$48m) compared with the year-earlier period, due to higher sales and demand. Earnings per share for the first nine months of the year were SAR4.61, compared with SAR3.52 in the year-earlier period, Southern Province Cement said in a statement posted on the Saudi bourse website. Third-quarter operating profit jumped 49.2% to SAR185m fro... |
China Cement Stocks Down; Ignore Housing Start News11 October 2011, Published under Cement NewsNews that China started building 9.86 million public housing units in the January-September period should be taken as a positive for cement companies; but the sector is facing profit-taking after strong rallies in the past two sessions. Sector leaders Anhui Conch Cement is down 4.2% at HK$20.35 after rebounding 17.5% over Thursday and Friday; China National Building Material is down 4.4% at HK$6.94 after a 28.5% rally. The Chinese government aims to start building 10 million public housi... |
Industry appointments – Cockburn new operations manager11 October 2011, Published under Cement NewsA fortnight after the sudden resignation of Cockburn Cement operations manager Darrin Strange, the company has announced the appointment of his replacement. Michael Williams, a former general manager for CCLs parent company Adelaide Brighton, will take up the position of general manager of operations for cement and lime at the Munster plant. A company spokeswoman said the supervisor had significant experience in operational and commercial management and had spent 28 years working in the c... |
Etex to refinance EUR450m debt for Lafarge unit buy11 October 2011, Published under Cement NewsBelgium’s Etex Group said Monday that it has secured EUR1.3bn of credit facilities to finance the acquisition of the European plasterboard division of Lafarge, part of which will be refinanced in the bond market. Lafarge’s division will be combined with the South American plasterboard activities of Etex and Lafarge in a new entity to be 80% owned by Etex and 20% owned by Lafarge, Etex said. The new loan financing is divided into a EUR550 million five-year revolving credit facility, a EUR... |
Siam Cement gains on flood demand, Thailand11 October 2011, Published under Cement NewsSiam Cement Pcl (SCC) paced gains in shares of Thai construction-material producers on speculation demand will surge after the nation’s worst floods in more than half a century. Bloomberg reports that Siam Cement, Thailand’s largest producer, climbed 5.5 per cent to THB290 at 11:42 a.m. local time, set for the highest close since September 22. Siam City Cement Pcl (SCCC), the second- biggest maker, rose 5.6 per cent to THB226. “Investors are looking to buy shares of companies that will b... |