Cement News tagged under: corporate
Hail Cement IPO jumps above 130%28 September 2011, Published under Cement NewsSaudi Arabia’s Hail Cement Co’s initial public offering of 50% of its share was more than 130% oversubscribed by Monday morning, the IPO’s last day, Al-Riyadh daily reported, citing an executive. The share allocation will be announced next week and the reimbursement of surplus subscriptions will take place 2-5 Oct. Hail Cement is expected to start production in 1Q2013 with a capacity of 5000tpd. CEO Matar Al Zahrani said the company is likely to achieve a profit the same year. |
HeidelbergCement keeps 2011 outlook26 September 2011, Published under Cement NewsHeidelbergCement, the world’s no. 3 construction materials group, is maintaining its outlook for this year after sales volumes marginally beat expectations in 3Q2011. "Volumes have developed as expected, maybe even slightly better," Bernd Scheifele told German TV channel DAF Deutsches Anleger Fernsehen. "We have not seen a deterioration in our current business figures and have therefore left our outlook unchanged," Scheifele said. Th company is scheduled to release third-quarter results on... |
ACC-Ambuja merger deferred indefinitely. India22 September 2011, Published under Cement NewsThe merger of ACC and Ambuja Cements, the companies controlled by Holcim has been deferred indefinitely, reports Business Standard. An investment banker, privy to the development, said, “The parent company has been doing creeping acquisition of five per cent every year and the merger is not on the cards. They have a common treasury, marketing and technical advisory, and they are not looking at spending money on merging, as there are some markets where either of them are not present." Hol... |
India: Q2 earnings may be weak22 September 2011, Published under Cement NewsIndian cement companies are unlikely to report strong earnings growth in the second quarter of FY12. While the monsoon months are not the best for cement demand in India, stagnating infrastructure projects and sluggish demand in the real estate sector have hurt cement companies. The sector has been hit from all sides this year, as inputs prices have gone up sharply and demand has been steadily decelerating. However, analysts are divided on where the sector is headed. For that, it’s imperati... |
Wapco Cement to issue NGN50bn bond22 September 2011, Published under Cement NewsLafarge Cement Wapco , the Nigerian unit of Lafarge, plans to issue a NGN50bn (US$318m) bond to refinance loans it took to construct a factory aimed at doubling it capacity. Finance director Fred Amobi said on Wednesday it was targeting a yield of 10-11 per cent for the planned three-year bond and it would issue the paper through a book-building process which will end on Sept. 27. He said the plan was to list the bonds on the Nigerian Stock Exchange on October 3. "It is a NGN50bn (but) we... |
Jiangxi Cement to invest in subsidiary, China19 September 2011, Published under Cement NewsJiangxi Cement Co., Ltd announced on September 15 that it plans to invest CNY64m (US$10m) in its subsidiary, Jiangxi Wannianqing Cement Co., Ltd., to promote construction of its 4800tpd of clinker line. Jiangxi Cement will add investment in the same proportion with other shareholders. Therefore, the registered capital of Jiangxi Wannianqing Cement will increase to CNY102.82m, and Jiangxi Cement still holds 80% in the subsidiary. Total assets of Jiangxi Wannianqing Cement amounted to CNY 76... |
Saudi Tabuk Cement net profit rises19 September 2011, Published under Cement NewsSaudi cement producer Tabuk Cement Company (TCC) said its net profit for the first half of 2011 rose 11% YoY to SAR84.1m (US$22.4m). Earnings per share (EPS) stood at SAR 0.93, down from SAR 0.84. The company attributed the increase to higher sales boosted by local demand, but did not give exact figures. For the second quarter of 2011, TCC booked a net profit of SAR 42.9m, slightly up from 41.7 million in the same period last year. |
Hail Cement sets minimum IPO subscription, Saudi Arabia19 September 2011, Published under Cement NewsSaudi Arabia’s Hail Cement Co. (HCC) has set minimum subscription for its initial public offering at 50 shares for each individual investor and maximum subscription at 200,000 shares, Al Riyadh daily reported Saturday citing an executive. The IPO, valued at SAR489.5m (US$130.5m) and representing 50 per cent of HCC’s capital, is scheduled to run from Tuesday to September 26. The cement producer will offer 48.95 million of its shares at the par value of SR10 each, according to Zawya.com d... |
CSN ends deal to buy assets, Spain19 September 2011, Published under Cement NewsBrazilian steelmaker Companhia Siderurgica Nacional SA (CSN) said Friday it cancelled a deal to acquire a Spanish cement producer and steel assets in Spain and Germany due to breach of contract. CSN had disclosed on May 19 that it would buy cement producer Cementos Balboa SA and four long-steel producers in Spain and Germany from Spain’s Grupo Alfonso Gallardo SLU for EUR543m. However, the deal has now been cancelled due to Gallardo Group’s failure to honour terms of the contract, CSN said... |
Eurocement increases stake in Holcim19 September 2011, Published under Cement NewsEurocement Holding AG, Zurich, has increased its stake in Holcim AG on the open market and disclosed its shareholding of 10.117% on September 16th to the company. In September 2008 Eurocement had acquired a stake of about 6.25% in the company. "Taking into account the company’s industrial know-how and on the basis of our knowledge of the industry," says Thierry Sauvaire, CEO of Eurocement Holding AG, "we set on the company’s future prospects. As a proven long-term investor we will continue ... |