Cement News tagged under: corporate
CARE assigns BBB rating to Shiva Cement08 September 2011, Published under Cement NewsCredit rating agency, CARE has assigned the following credit rating to Shiva Cement for it’s existing as well as proposed loan for expansion amounting to total INR201 crore. The agency has assigned ’BBB’ rating to long-term bank facilities of the company. The agency has also assigned ’A3’ rating to the short-term bank facilities of the company. Recently, the company had received an approval from the project co-ordination committee authorised by the board for revision of project cost from IN... |
India’s Jaiprakash denies stake sale report08 September 2011, Published under Cement NewsJaiprakash Associates Ltd has not submitted a proposal to dilute up to 26 per cent of its cement business to its restructuring committee, a statement said on Wednesday, denying an earlier media report. The report named Cemex and South America’s Votorantim Group among the possible candidates. |
KHD CFO steps down, Germany08 September 2011, Published under Cement NewsKHD Humboldt Wedag International AG said its CFO, Manfred Weinandy, has decided to leave the company for personal reasons. The supervisory board has agreed to accept the resignation of Weinandy from office with effect as of September 7 as well as to the mutual cancellation of his service agreement. The Chairman of the directors Jouni Salo has been appointed as acting CFO for an interim period. |
Dyfrig James takes over as MPA Chairman, UK08 September 2011, Published under Cement NewsDyfrig James, Regional President for Northern and Central Europe for Lafarge’s Aggregates, Concrete and Pave business, has been appointed MPA Chairman for the next two years. He will be MPA’s third Chairman, taking over from Patrick O’Shea. |
Lafarge Zimbabwe trims revenue forecast08 September 2011, Published under Cement NewsLafarge Cement Zimbabwe has trimmed its year to December revenue forecast to US$50m from US$54m, and is expecting an operating profit of US$5m, MD Johnathan Shoniwa said in a trading update. The revenue forecast is up 20% on the full year, while the operating margin would be maintained at 10%. “Cash generation is also expected to improve in line,” said Shoniwa. He said while national domestic cement demand for the eight months to August 31 was 51% up from last year, export volumes were 21... |
Indonesian cement producers revise upward sales target07 September 2011, Published under Cement NewsIndonesian domestic cement producers have revised upward their domestic sale target for this year following high consumption in July. "True, we have revised upward our target to 10 per cent," chairman of the Indonesian Cement Producers Association (ASI) Urip Timuryono said here on Tuesday. Data from the association show domestic cement sales rose six per cent to 40Mt last year. The association predicts the figure will increase to 44Mt this year. Domestic cement sales in the seven months t... |
CS Cuts China Shanshui To Neutral Vs Outperform07 September 2011, Published under Cement NewsCredit Suisse downgrades China Shanshui Cement to Neutral vs Outperform, and cuts its target to HK$8.50 from HK$10.40, after the house cuts its FY12 earnings forecast by 12%, to reflect the weakening industry supply-demand outlook and downside risk in margins in 2012. "We think supply pressure will put downside risk in Shandong and new expansions in Shanxi to slightly lower the average unit profit." |
BBMG targets over 50Mt cement output capacity for 201207 September 2011, Published under Cement NewsBBMG Corp, a Beijing-based building material manufacturer, aims to increase its cement output capacity to 45Mt at the end of this year and more than 50Mt by the end of 2012, said President and Executive Director Jiang Deyi. The Hong Kong-listed firm’s cement output capacity had reached 40Mt of 30 June 2011. In the first half of this year, the company booked CNY6.14bn in cement sales, soaring 47.8% YoY and accounting for 47.2% of the total. The average cement price stood at CNY293/t, up 13... |
Jaiprakash in search of strategic partner?07 September 2011, Published under Cement NewsJaiprakash Associates (JPA), the Jaypee Group flagship, is exploring the option of obtaining a strategic partner for its cement business, the third largest in the country. According to three independent sources, JPA is open to diluting up to 26 per cent in the business. Jaypee, added these sources, has roped in a clutch of investment bankers to advise on any strategic stake sale. Preliminary talks have already begun with large South America conglomerates such as Cemex and Votorantim Group... |
FLSmidth to enter into agreement with Russian company07 September 2011, Published under Cement NewsIn connection with Her Majesty the Queen of Denmark’s state visit to Russia, FLSmidth expects to sign an agreement on future cooperation with the Russian company JSC EcoInvest. The agreement relates to the supply of equipment and services for a complete greenfield cement plant and is expected to amount to a value of more than EUR100m. The agreement is not yet binding, but if and when it does become binding, FLSmidth will inform the market. |