Cement News tagged under: corporate
UBS starts Shanshui Cement at Buy06 September 2011, Published under Cement NewsUBS starts China Shanshui Cement at Buy with a target price of HK$15.00. It says Shanshui is the largest cement producer in China’s Shandong and Liaoning provinces and is expanding into other regions; it has been one of the most aggressive consolidators among tier-two cement producers, and is continuing to expand capacity. "We expect these trends to continue for the next two to three years." UBS says cement prices in Shanshui’s primary markets are rising, driven by improved supply-demand d... |
Cement Hranice revenues down 15 per cent, Czech Republic05 September 2011, Published under Cement NewsCzech cement producer, Cement Hranice, saw revenues fall YoY to Kc1.48bn (US$60.5m) in 2010, according to the company’s annual report. The firm’s net profit decreased to Kc453.3m from Kc613.3m in 2009. "The development of our company is copying the development of the Czech construction sector. The first half of last year brought a marked fall, influenced by long winter and rainy spring. The second half of the year was much more successful as we managed to moderated the loss from the begi... |
BofA cuts Italcementi price target05 September 2011, Published under Cement NewsBank of AmericaMerrill Lynch has revised down to EUR 2.60 from EUR 4.10 the share price target on Italcementi. The analysts confirmed the "underperform" rating. |
Asia Cement reports new first-half high05 September 2011, Published under Cement NewsBenefiting from cement price hikes, Asia Cement Corp recorded a new high of CNY664m (US$104m) in net profits from its operations in China in the first half of this year, for a staggering growth of 369% from a year ago. The company is confident of earning more in the second half of the year through next year, mainly because demand for cement will further grow in China due to the 12th Five-year Development Plan, which has been put into practice to improve agricultural infrastructure and tr... |
Vietnam govt to service debt for troubled cement projects05 September 2011, Published under Cement NewsThe Vietnamese government will provide funds to help four cement projects make foreign debt payments, the finance minister said, including one that state media says is unable to service a loan from Australia and New Zealand Banking Group Ltd. The projects were among 16 in the cement sector that had government-guaranteed loans from foreign creditors worth US$1.365bn, Vuong Dinh Hue told reporters on Thursday. Hue said the ministry would assist with up to three scheduled payments for the fo... |
Cemex new business process model05 September 2011, Published under Cement NewsCemex announced today the successful execution of its integration to SAP-centric enterprise platform for its operations across all business lines in Mexico, Spain and Costa Rica. This platform is already implemented in other operations, including the United States, the United Kingdom, Germany, and France, among others. Cement, ready-mix concrete and aggregates operations are now using one of the most advanced enterprise application software available in the market, to provide even more value... |
Credit Suisse cuts Italcementi share price02 September 2011, Published under Cement NewsCredit Suisse (CS) has revised down to EUR5.00 from EUR7.00 the share price target on Italian cement maker Italcementi, keeping the "neutral" rating. The analysts revised their coverage on the construction material sector, also decreasing the share price target on Buzzi Unicem to EUR 6.00 from EUR 12.00 and cutting the rating to "neutral" from "outperform". Meanwhile, CS revised down to "neutral" from "outperform" the stock rating on fellow-Italian cement maker Buzzi Unicem. |
Merrill Lynch Capital raises stake in Rain Commodities, India02 September 2011, Published under Cement NewsIndian cement maker Rain Commodities has said Merrill Lynch Capital Markets Espana SA SV has increased its stake in the firm by 0.71 per cent to 5.12 per cent through open market transactions for Rs 7.14 crore (US$1.56m). In a stock exchange filing, Rain Commodities said Merrill Lynch Capital Markets Espana SA SV has acquired 25 lakh shares of the company from Bombay Stock Exchange, National Stock Exchange and Delhi Stock Exchange on August 26. Merrill Lynch now holds over 1.81 crore equit... |
Saudi Arabian Cement Co 1H net profit rises02 September 2011, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) saw its net profit for the first half of 2011 surge by 39.8% YoY to SAR227.8m (US$60.7m). Earnings per share (EPS) stood at SAR2.85, up from SAR2.04. The company attributed the increase in bottom-line figures to rising production and sales volumes, but did not give exact figures. The operating profit surged by 49.4% to SAR249.2m for the first six months of 2011. For the second quarter of 2011, the company registered a net profit of SAR11... |
Steppe Cement narrows first-half loss, Kazakhstan02 September 2011, Published under Cement NewsSteppe Cement Ltd reported a much narrowed first-half loss on higher cement sales and said it is currently negotiating to secure financing to complete line 5 in view of the more stable outlook for the market and the production cost benefits that will accrue over the existing wet process. Turnover for half year ended June 30 US$43.06m compared to US$31.56m in 1H10. Loss before tax was US$2.84m (2010: loss US$4.60m). Sales rose 601,099t, up 15% YoY from 523,156t. Line 6 production has conti... |