Cement News tagged under: corporate
Kuwait Portland Cement Co appoints director17 June 2011, Published under Cement NewsKuwait Portland Cement Co has appointed Barrak Abdul Mohsen Al Babtain as a director. The effective date is June 15, 2011. |
Unicredit starts HeidelbergCement with “buy”16 June 2011, Published under Cement NewsUnicredit has started coverage on the stock of HeidelbergCement with a “buy” recommendation and EUR55.21 share price target. According to analyst Tessa Guy, big construction companies and building material makers will benefit from the expected strong structural growth in demand in Asia and Central Europe. HeidelbergCement ranks among the expert’s favourites in view of its growing commitment on emerging markets and positive earnings development. The tense financial situation is only a short... |
Conch Cement to invest CNY4bn in financing products16 June 2011, Published under Cement NewsConch Cement announced that it will spend CNY4bn (US$617m) on financial products, reports Shanghai Securities News, citing a company filing. The firm has just received CNY9.5bn through a corporate bond issuance with a coupon rate of five per cent. One financial product that the firm will purchase from the Bank of China has an expected annualised return of 4.8 per cent. Conch Cement signed a trust plan with Anhui Guoyuan Trust for CNY2.5bn with a maturity of one year at an estimated annual... |
Vulcan Materials announces closing of senior notes offering16 June 2011, Published under Cement NewsVulcan Materials Co. announced that it has closed its offering of US$500m aggregate principal amount of 6.5% senior unsecured notes due 2016 and US$600m aggregate principal amount of 7.5% senior unsecured notes due 2021. After deducting underwriting discounts and offering expenses, Vulcan Materials said that it intends to use the net proceeds from this offering of about US$1.082bn to terminate its existing term loan due 2015, fund a partial tender offer for its existing senior unsecured not... |
HeidelbergCement Bangladesh approves 43% cash dividend16 June 2011, Published under Cement NewsHeidelbergCement Bangladesh Limited has approved 43 per cent cash dividend for its shareholders for 2010, the Financial Express Bangladesh reports. The approval came at the 22nd annual general meeting (AGM) of the company held on Monday at company’s plant at Rupganj, Naryanganj, said a news release. HeidelbergCement managing director, Jean-Claude Jamar, presided over the meeting. A large number of shareholders attended the meeting and unanimously approved the audited accounts for the ye... |
Saudi Southern Province Cement 1Q net profit rises14 June 2011, Published under Cement NewsSaudi cement producer Southern Province Cement (SPC) said its net profit for the three months through March 2011 rose 19.1% YoY, to SAR 225.9m (US$60.2m) from SAR189.6m a year ago. The company attributed the increase to higher sales volumes. The earnings per share (EPS) stood at SAR1.61, up from SAR1.36. The operating profit increased to SAR229.7m for the first quarter of 2011, from SAR 193.8m a year ago. |
Lipetskcement new appointments, Russia12 June 2011, Published under Cement NewsEurocement has appointed Sokoltsov Vladimir Yuryevich as director general of its subsidiary, Lipetskcement, JSC. Zvyagin Igor Mikhailovich was appointed as the Chief Technical Officer, deputy general director of Lipetskcement JSC and the Director of “Lipetskoye karyeroupravleniye. |
Vietnam firm to pay cash dividend of VND500/share09 June 2011, Published under Cement NewsSong Da Yaly Cement Joint Stock Co (SDY), listed on the Hanoi Stock Exchange, will pay a cash dividend of VND500/share on record as of June 16. The payment will be made July 8, a financial website reported. In the first quarter of this year, SDY netted a profit of VND74m on revenues of VND56.55bn compared to VND488m and VND49.56bn in the first quarter of last year, respectively. |
Russia’s Novoroscement opens RUB1bn credit line with VTB Bank08 June 2011, Published under Cement NewsRussian cement producer Novoroscement has opened a RUB1bn (US$36m) credit line with Russia’s VTB Bank, the bank’s press office said Tuesday. The annual interest rate and maturity were not provided. The company is expected to use the funds to finance its current operations. Novoroscement comprises three cement plants in the Krasnodar Region with a capacity of over 4Mta of cement. |
Change in Senior Management at Holcim Ltd??08 June 2011, Published under Cement NewsStefan Wolfensberger, Corporate Functional Manager Holcim Ltd and Head Commercial Services Holcim Group Support Ltd, will leave the Group on June 30, 2011. He has long expressed the desire to take the next professional step, and use his near 25 years of international leadership and consulting experience at Holcim as an independent advisor and board member of small and medium sized industrial companies in Switzerland. |