Cement News tagged under: corporate
Yamamah Saudi Cement 3Q rise10 October 2011, Published under Cement NewsYamamah Saudi Cement Company said nine-month and third-quarter net profits are expected to increase by 10% and 6% respectively. The company said net income for the last three months would reach SAR149m, up from SAR140m posted for the same period in 2010. Operating profit for the period is also set to increase by 6% against last year, up to SAR153m. But this third quarter result is down nearly a third (32%) against the second quarter of 2011, a result the company attributes to the decline i... |
Industry appointments - APCMA elects excutive committee members10 October 2011, Published under Cement NewsAizaz Mansoor Sheikh, Chief Executive of Kohat Cement Company, has been elected chairman of the All Pakistan Cement Manufacturers Association (APCMA) for seventh time. His new term is for the 2011-2012 period. Meanwhile, Muhammad Ali Tabba, CEO of Lucky Cement and Sayeed Tariq Saigol, CEO of Maple Leaf Cement Factory have been elected vice chairmen. Other executive committee members to be elected are: Rehmat Khan of Lafarge Pakistan Cement, Mazhar Rafi of Bestway Cement, Brig. (Rtd.) A... |
Gresik’s 2.5Mta capex plan for next five years, Indonesia07 October 2011, Published under Cement NewsIndonesian cement maker PT Semen Gresik Tbk plans to spend IDR21.42trn (US$2.5bn) on capital expenditures in the next five years, its finance director Ahyanizzaman said. Of the total, US$600m would be disbursed next year to finance the construction of new plants in Tonasa, South Sulawesi, and Tuban, East Java, as part of business expansion, he said here on Thursday. The fund would also be used to finance the construction of a power plant, he said on the sidelines of Investor Summit 2012. ... |
Industry appointment: Suez Cement new MD06 October 2011, Published under Cement NewsEgypt’s Suez Cement, a subsidiary of Italcementi, said Wednesday that it had appointed Bruno Carre as managing director. Carre took the post on 1 October 2011, having previously been general manager of Ciments Calcia, also an Italcementi subsidiary. |
Yanbu Cement sees 3Q net rise, Saudi Arabia06 October 2011, Published under Cement NewsYanbu Cement Company said net profits for the third quarter were up by 33 per cent against the same period last year. Post-tax income will be SAR125m (US$33m), up from SAR94m the previous year, on the back of a 29.8% rise in gross profits, which reached SAR135m, up from SAR104m. This is, however, a 16.6% fall in net profit against the second quarter of 2011. “The reason of decrease in net profit for the third quarter compared to the second quarter for the same year due to decline in sales ... |
JP Morgan slashes Italcementi price target06 October 2011, Published under Cement NewsJP Morgan has reduced the share price target on Italian cement maker Italcementi to EUR3.4 from EUR6.6. |
UltraTech volumes decline in September, India06 October 2011, Published under Cement NewsUltraTech Cement, part of the Aditya Birla Group, dispatched 2.75Mt of cement in September compared to 2.84Mt a year ago, the company said. India’s largest cement maker by capacity, UltraTech’s production fell 1.7 per cent YoY to 2.77Mt compared to 2.83Mt. Dispatches and production were lower than 3.06Mt and 3.02Mt, respectively in August. So far in the current financial year the company has dispatched 18.61Mt of cement. |
Holcim downgraded by Credit Suisse, JP Morgan lowers price target06 October 2011, Published under Cement NewsCredit Suisse (CS) has downgraded Holcim to neutral from outperform citing the stock’s recent outperformance and as CS sees the company as most at risk from a potential slowdown in China. Such a slowdown "could have negative implications for global commodity and energy prices, which would be a positive factor for the cement industry outside of China, but may have negative implications for countries like Australia, Brazil, Japan and South Africa," says CS. "Holcim appears as the group with th... |
Pakistan cement industry shows mix results FY201106 October 2011, Published under Cement NewsPakistan’s cement manufacturers and exporters reported mix financial results for 2010-11 fiscal (July-June) despite the cement industry registering negative sales growth of 8.32 per cent to 31.36Mt in FY11. However, while sales were impacted by heavy floods and declining public spending for large infrastructure projects, local cement companies were able to minimise their losses. Below is an overview of the financial performance by some of Pakistan’s leading producers in FY2011. Fauji Cement... |
Trinidad Cement Ltd creditors agree repayment plan06 October 2011, Published under Cement NewsTrinidad Cement Limited has reached a deal with the majority of its creditors that gives the producer eight years in which to make good on its outstanding debt. The package does not include the debts of subsidiaries Readymix West Indies Limited and TCL Packaging Limited, but company secretary Alan Nobie declined to clarify that and other issues relating to the agreement reached eight months after TCL stopped servicing its debts to negotiate a more manageable repayment schedule. Chairman of... |