Cement News tagged under: corporate
Binani Cement delisted from Bombay Stock Exchange, India01 June 2011, Published under Cement NewsBinani Industries (BIL) today said its cement making arm Binani Cement has been delisted from the Bombay Stock Exchange and National Stock Exchange with effect from May 30. "Binani Industries has informed to equity shareholders of Binani Cement [that it] will be delisted with effect from May 30 from the BSE and NSE," BIL said in a communique to the stock exchanges. Delisting of company’s equity shares is actually stopping the stocks from further trading on the bourses. BIL had in January ... |
Alexandria Cement posts 34% decline in 1Q11 net profit, Egypt31 May 2011, Published under Cement NewsEgypt’s Alexandria Cement posted a 34 per cent fall in consolidated net profit to E£101.4m (US$17m) for the first quarter of 2011, the stock exchange said on Tuesday. The firm, a subsidiary of Titan Cement reported net profit of E£154.1m in the same period last year, the bourse said. |
New Cemex Spain CEO announced31 May 2011, Published under Cement NewsJaime Ruiz de Haro has been appointed the new CEO of Cemex Spain. He has been a part of the Cemex group since 1990 and was CEO of Cemex in the Canary Islands between 1999-2001, and thereafter in Asia where he was head of operations in Thailand and the Philippines. Since 2007, Haro has been director and general manager of Cemex Spain. |
HeidelbergCement upgraded to ‘Ba1’ by Moody’s31 May 2011, Published under Cement NewsMoody’s Investors Service raised HeidelbergCement’s Corporate Family rating to ‘Ba1’ from ‘Ba2‘ and the senior unsecured long term rating to ‘Ba2’ from ‘Ba3’. As rationale, Moody’s highlighted the company’s sound performance in Q1 and the agency’s expectation that HeidelbergCement will continue to perform well in 2011 leading to further deleveraging and improved credit metrics. “We are very happy that the solid performance in Q1 has prompted another rating upgrade,” says Dr. Bernd Scheife... |
Shree swings to quarterly profit30 May 2011, Published under Cement NewsShree Cement Ltd reported a net profit of INR66 crore (INR660m) for the quarter ended on March 31, 2011. The company had reported a loss of INR71 crore (INR710m) for the corresponding period last fiscal year. During the quarter, the company’s net sales went up by over 13 per cent to INR1070 crore (INR10.7bn). For the year ending March 31, the company reported 69 per cent dip in net profit to INR210 crore (INR2100m). The board of directors has proposed a final dividend of INR8, thereby ta... |
JK Cement revenues surge30 May 2011, Published under Cement NewsJK Cement (India) announced the company’s Q4 FY11 revenues were up 27% at INR680 crore (INR6.8bn) versus INR534 crore a year earlier. The PAT was up 23% at INR54 crore versus INR44 crore, while the EBITDA margin expanded to 17.5% from 16.5%. |
Lafarge capital increase30 May 2011, Published under Cement NewsLafarge has announced a share capital increase reserved for the eligible employees of companies participating in the Lafarge Group Savings Plan. This transaction, which is in line with the Group employees’ shareholding development policy, will encompass 63 countries. The subscription price for the shares has been fixed at EUR36.98. A maximum number of 5 million shares with a par value of EUR4 will be issued as a result of the share capital increase. The subscription period will take place f... |
Merckle Group builds stake in HeidelbergCement30 May 2011, Published under Cement NewsThe Merckle Group has acquired more than 400,000 shares in German cement maker HeidelbergCement, according to a regulatory disclosure statement, amounting to over €28.9m . The Merckle Group bought 200,000 shares at a price of EUR 48.31 each on May 20. Three days later, another 201,756 shares were acquired at a price of EUR 47.41 per share. |
Hoang Mai Cemen to Buy Back 2M Shares27 May 2011, Published under Cement NewsHoang Mai Cement JSC (HOM), listed on the Hanoi Stock Exchange, plans to buy back two million shares between May 30 and August 30. As a result, the cement producer expects to raise its number of treasury shares to over 4.47 million from current over 2.47 million. In the first quarter, HOM made a net profit of VND21.26bn (US$1.01m) on revenues VND415.58bn, up 21.82% and 31.22% on year, respectively. |
Debt concerns driving asset sell-offs among European players27 May 2011, Published under Cement NewsFCC’s plan to sell its US cement subsidiary Cementos Portland Valderrivas is part of the Spanish construction company’s ongoing efforts to protect its bottom line from continued domestic weakness. While increasing international exposure has bolstered the performance of numerous Spanish construction players over the past 18 months, Spain’s moribund construction sector continues to weigh heavily on company balance sheets. Companies such as FCC and domestic rival OHL are among those seeking to ... |