Cement News tagged under: corporate
Moody’s Sparks West China Cement fall on ‘Red Flags’ report12 July 2011, Published under Cement NewsMoody’s Investors Service cited five Chinese companies as having more “red flags” on corporate governance than others it examined, sending shares of West China Cement Ltd. to a record decline. The ratings company looked at criteria that “highlight issues meriting scrutiny to identify possible governance or accounting risks,” analysts led by Elizabeth Allen in Hong Kong wrote in a report issued yesterday. All 61 companies Moody’s examined raised “red flags,” with West China Cement, Winsway ... |
Qassim sees 6.55% second quarter rise, Saudi Arabia11 July 2011, Published under Cement NewsQassim Cement Company said net profits for the second quarter will reach US$38.56m (SAR144.6m), up 6.55% against the US$36m (SAR135m) posted the previous year, though declining 1.72% against the first quarter this year. Gross profit over the last three months will rise 3.6% to $41.6m (SAR 154m), with operating profit to lift 3.21% to US$138.80m (SAR145.5m). Six-month profits are expected to increase 3.86% to US$77.81m (SAR291.8m) against US$74.90m (SAR280.9m). Higher profits were attributab... |
Saudi Arabia: Yanbu Cement expects second-half increase11 July 2011, Published under Cement NewsYanbu Cement Company expects net profits for the second quarter and the half year to be higher than last year. The listed suppliers will see net profits rise by 32.7% and 6.55% respectively for the last three months against the same periods in 2010. Yanbu Cement expects after-tax gains for the second quarter to reach US$40m (SAR150m), up almost a third from the US$30.13m (SAR113m) posted last year and up 4.5% against the first quarter 2011, with gross and operating profits rising 30% and ... |
UBS trims stake in Buzzi Unicem11 July 2011, Published under Cement NewsSwiss bank UBS AG has reduced its stake in Italian cement maker Buzzi Unicem to 1.72%, Italian stock market watchdog Consob said. |
Shanshui Cement mulls senior notes issuance, China11 July 2011, Published under Cement NewsChina Shanshui Cement said it proposes to commence an international offering of senior notes and would commence a series of roadshow presentations beginning on or around today. The notes are proposed to be guaranteed by certain of Shanshui Cement’s subsidiaries organized outside the PRC on a senior basis. BOC International, Credit Suisse, Deutsche Bank and UBS have been appointed as joint lead managers and joint bookrunners. The pricing of the proposed notes, including the aggregate princi... |
Pretoria Portland Cement to appoint new CFO, South Africa11 July 2011, Published under Cement NewsPretoria Portland Cement Company will appoint Tryphosa Ramano as Chief Financial Officer of the South African cement producer. The effective date is August 01, 2011. |
Regulator approves sale of an Inteco plant11 July 2011, Published under Cement NewsRussia’s Federal Anti-trust Service (FAS) said it has approved the sale of 100% of shares of Verkhnebakansky Cement Plant (Novorossiysk) to an unnamed Cyprus-headquartered company. |
Cemex offering revival sparked by Europe rebound08 July 2011, Published under Cement NewsCemex SAB, the largest cement maker in the Americas, has become the biggest Mexican issuer of debt overseas this year after an easing of the European debt crisis allowed the company to revive a sale it scrapped last month. The company sold US$650m of its notes due in 2018 on 6 July, pushing issuance this year to US$2.45bn, according to data compiled by Bloomberg. The company sold the bonds to yield 9.5%, or 462 basis points more than similar maturity bonds sold by Holcim Ltd, the world’s se... |
South Africa: PPC appoints new CFO08 July 2011, Published under Cement NewsPretoria Portland Cement has appointed Tryphosa Ramano as chief financial officer and executive director from 1 August, it said on Thursday. “Her curriculum vitae boasts positions ranging from auditing, investment management and corporate finance to being the CFO of SAA from 2004 to 2006 and most recently, the CFO of Wiphold,” PPC said in a statement. She takes over from Peter Esterhuysen, who had headed PPC’s business development activities in the past year. He would relinquish his CFO re... |
China Cement stocks rally and Asia Cement forecasts 350% surge in 1H11 profit08 July 2011, Published under Cement NewsHong Kong-listed China cement stocks extended their rally in the afternoon, with sector leaders Anhui Conch Cement and China National Building Material setting 52-week highs. The sector is spurred by Asia Cement (China) guiding that its 1H11 net profit will increase by 350% YoY, suggesting that despite busy upward sector earnings forecast revisions by analysts over the past few months, consensus earnings are likely still conservative. According to the company, new dry-process cement kilns we... |