Cement News tagged under: corporate
Office of Fair Trading objects to Tarmac, Lafarge deal, UK02 September 2011, Published under Cement NewsThe proposed tie-up between Anglo American’s Tarmac and Lafarge of their construction materials businesses in the UK has been challenged by the country’s Office of Fair Trading (OFT), Reuters reports. The OFT said in a statement on Friday it has referred the proposed merger deal to the Competition Commission for further investigation after concluding that competition concerns arise in a number of markets. "This represents a significant structural change in this sector and raises serious co... |
Holcim upgraded to Buy by Jefferies01 September 2011, Published under Cement NewsJefferies upgrades Holcim to buy from hold, which says there is scope to improve profitability at the company’s three main businesses - cement, aggregates and other construction materials. Analyst Mike Betts notes that the cement industry is struggling to raise prices to cover higher costs, while Holcim also suffers from the strength of its reporting currency, the Swiss franc. |
S&P affirms Cimpor rating, Portugal01 September 2011, Published under Cement NewsCimpor announced that Standard & Poor’s affirmed the corporate credit ratings of the company as long-term “BBB-” and short-term “A-3”, maintaining their stable outlook. Apart from considering “adequate” the company liquidity, Standard & Poor’s now qualifies Cimpor’s risk as with “low exposure” to the Portuguese sovereign one. This means Cimpor rating can be up to six or five “notches” above Portugal, depending on the country being investment grade or not. |
China Resources Cement Holdings recommends dividend31 August 2011, Published under Cement NewsChina Resources Cement Holdings today announced an interim dividend of 5.0c per share. The ex dividend date is September 01, 2011 and it is payable on September 29, 2011. |
Jefferies lifts rating on Buzzi Unicem to "buy"31 August 2011, Published under Cement NewsAnalysts at Jefferies have increased to "buy" from "hold" the stock rating on Italian cement maker Buzzi Unicem SpA. |
Jefferies upgrades Texas Industries to Buy31 August 2011, Published under Cement NewsJefferies upgraded Texas Industries from Hold to Buy with a price target of US$39 (down from US$43). The firm states, "Although we are reducing our EBITDA and EPS estimates, we continue to expect both cyclical recovery and high long-term growth rates in TXI’s major markets of Texas and California. TXI also has strong asset backing, with modern cement capacity in Texas and California, which we estimate has a replacement cost equating to around US$66 per share.” FY12 EPS goes from ($0.61) to... |
Sinoma in talks on overseas acquisitions31 August 2011, Published under Cement NewsChina National Materials Co Ltd (Sinoma) said it is in talks in Europe and the United States for acquisitions at CNY1-10bn (US$153,800-$1.5bn) each in the cement equipment and high-tech materials sectors, Reuters reported. Like other Chinese cement makers, Sinoma has been enjoying booming sales, resulting in hefty cash inflows that are helping it build up a war chest for overseas acquisitions. A firming yuan will also contribute to its purchasing power overseas. "This is a good time for ov... |
Flour Mills to list cement unit, Nigeria30 August 2011, Published under Cement NewsUnited Cement Company of Nigeria Limited (UNICEM), part of the Flour Mills of Nigeria group, is to be listed on the Nigeria Stock Exchange (NSE). Group MD, Emmanuel Ukpabi said the cement division has attained a level of independence and that plans were also underway to quote it on the Exchange. Ukpabi said Unicem has continued to take strides to improve its operating performance in the face exceptional challenges and difficulties, adding that due to some technical and operational constra... |
Egypt’s South Valley Cement 1H falls30 August 2011, Published under Cement NewsEgypt’s South Valley Cement first-half net profit fell 94 per cent to EGP5m (US$838,997), the stock exchange said on Monday. Net profit for the same period a year earlier was EGP78.4m. |
Taihieyo in new financing efforts for plant reconstruction30 August 2011, Published under Cement NewsTaiheiyo Cement Corp said Tuesday it will raise up to JPY37.53bn (US$489m) through equity financing in a bid to finance its capital outlays. The Japanese company will issue 250 million new shares to the public and plans an additional offering of 37.5 million new shares under an over-allotment arrangement. That will help boost the number Taiheiyo shares outstanding by up to 30% to 1.238 million. The share offering price will be set between Sept. 7 and Sept. 9. The company will use JPY8.7bn... |