Cement News tagged under: corporate
Taiheiyo Cement surges amid lack of negative factors13 September 2011, Published under Cement NewsShares of Taiheiyo Cement Corp rose on Monday afternoon as selling ran its course following the firm’s announcement of a capital increase, according to an official at a domestic brokerage. Investors are now seeking stocks that are tied to domestic demand, as such issues have relatively less room to fall, the brokerage official added. On Wednesday, Taiheiyo Cement announced plans to offer 121 yen per share through a public offering. The brokerage official said that all negative factors have... |
Demand bodes well next year for Lafarge Malayan Cement13 September 2011, Published under Cement NewsMIDF Research are initiating coverage of Lafarge Malayan Cement (LMC) at MYR6.91 with neutral rating and target price of MYR6.80. LMC is the country’s largest cement producer with 46% market share in terms of capacity. LMC’s annual rated capacity clinker production currently stands at 8.2Mt against the total industry’s clinker capacity of 17.8Mt. LMC is also the largest listed cement company on Bursa Malaysia with MYR5.6bn in market capitalisation, ahead of YTL Cement Bhd As the largest ... |
Lafarge Shui On Cement to issue bonds, China12 September 2011, Published under Cement NewsLafarge Shui On Cement Ltd. plans to issue yuan-denominated bonds outside China, according to a term sheet seen by Dow Jones Newswires Monday. The issue, guaranteed by Lafarge will be arranged by Citigroup, HSBC, Mitsubishi UFJ and Standard Chartered, the term sheet said. Roadshows for the issue will be carried out Wednesday, a person familiar with the situation said. |
UBS Raises Holcim Price Target09 September 2011, Published under Cement NewsUBS lifts its Holcim target to CHF52 from CHF49 to reflect changes to the cement maker’s currency exposure after the Swiss franc ceiling was set by the Swiss National Bank. "The impact is largely translational as Holcim mostly has its revenues and cost base in local currencies," says analyst Gregor Kuglitsch, who raises his 2011 earnings per share estimate by 4%. |
Taiwan Cement subsidiaries earnings rise up09 September 2011, Published under Cement NewsThe three major listed subsidiaries of the TCC Group, a sizable conglomerate in Taiwan, including Taiwan Cement Corp., China Synthetic Rubber Corp. and Taiwan Prosperity Chemical Corp, posted NT$6.304bn in after-tax earnings in the first half of 2011, up 47% YoY. Driven by the coming of the peak season in the second half in tandem with increased capacities, the TCC Group expects earnings to hit an all-time high this year. Taiwan Prosperity’s first-half after-tax earnings totalled NT$1.953b... |
FLSmidth receives Russian order09 September 2011, Published under Cement NewsFLSmidth has received a contract worth approximately EUR150m from the Russian company Kaluga Cement Plant LLC for the supply of a complete cement plant. The plant will be located in the Kaluga province some 300km southwest of the Russian capital of Moscow. The new production line will have a kiln capacity of 8500tpd equivalent to approximately 3Mta making it the biggest new kiln in Europe. The equipment supplies include three OK vertical roller mills for clinker and slag grinding as well as... |
Fitch Assigns ’A(tha)’ to Siam Cement’s New Debentures08 September 2011, Published under Cement NewsFitch Ratings (Thailand) Limited has today assigned a National Long-Term rating of ’A(tha)’ to The Siam Cement Public Company Limited’s (SCC; ’A(tha)’/Positive/’F1(tha)’) up to THB10.0bn new unsecured and unsubordinated debentures No.2/2011 due 2015. The proceeds will be used to refinance the company’s maturing debentures. SCC’s ratings reflect diversified cash flow generation from its three core businesses of petrochemical, cement and paper. The ratings are also supported by SCC’s leading... |
DG Khan posts lower profit, Pakistan08 September 2011, Published under Cement NewsPakistan producer DG Khan Cement Company has posted a lower profit after tax of PKR170.961m for the year ending June 30, 2011. According to the financial results of the company despatched to Karachi Stock Exchange, the profit before tax also declined to PKR601.192m as against PKR358.403m in the same period last year. The earning per share dropped to PKR0.45 during the period under review compared to PKR0.70 in 2010. |
Birlas eye Latam assets of Cemex, Votorantim Cimentos - report08 September 2011, Published under Cement NewsThe Aditya Birla Group may make an offer to buy certain Latin American assets of Cemex, at least four sources said, reports the Economic Times of India. The Birla’s are also in talks with Brazilian industrial giant Votorantim Group to buy some of their assets located in South America, according to two of the people quoted above. An acquisition could cost Birla Group flagship UltraTech cements in excess of US$1bn. |
TCC International mulls 3-for-20 open offer08 September 2011, Published under Cement NewsTCC International said it proposed to raise about HK$2.42bn by way of an open offer of about 494 million offer shares at a subscription price of HK$4.9 apiece, representing a premium of about 52% to the closing price of HK$3.23, on the basis of three offer shares for every 20 ordinary shares. The net proceeds of about HK$2.418bn will be used to fund the acquisition of Scitus Cement (China) Holdings Limited and certain cement and clinker production facilities in Chongqing, Jiangxi province, ... |