Cement News tagged under: corporate
Binani recommends 25% dividend25 April 2011, Published under Cement NewsBinani Cement Ltd at its meeting of the board of directors held on April 22 has recommended dividend of 25% (INR2.50 per equity share) subject to necessary approval. At the same meeting, the directors agreed in principle to spin off its power division (captive power plants and related assets) into a separate company, subject to necessary approvals and consent. |
Shiva Cement FY2010-11 dispatches up 7.2%25 April 2011, Published under Cement NewsShiva Cement Ltd has informed Bombay Stock Exchange that the dispatch of cement and clinker during the period FY 2011 (12 months) is up by 7.2% in comparison to FY 2010 (12 months). However, the despatches in Q-4 (Jan’11 - Mar’11) was down by 1.4% in comparison to the period (Jan’10-Mar’10). |
Gresik forecasts 15% net profit in 2011, extends capacity25 April 2011, Published under Cement NewsIndonesian cement producer PT Semen Gresik estimates its net profit will reach IDR882bn (US$102.3m) in the first quarter of this year, equal to an increase of 10% YoY, reports Asia Pulse. The company performed well in the first quarter of this year, said Dwi Soetjipto, the president of the state company and the country’s largest cement producer. Dwi said the company posted a 7.5% increase in sales with income estimated to reach IDR3.5tr in the first three months of the year. He said he is ... |
Holcim Philippines forecasts slower growth, may increase prices25 April 2011, Published under Cement NewsHolcim Philippines expects cement sales volumes to grow at a slower pace of 3-5% this year amid projections of lower public sector spending, Holcim Philippines Chief Operating Officer Roland van Wijnen said in a briefing. This is slower than the volume growth of 10% for the company last year, which exceeded the average 7% increase enjoyed by the local industry. Mr van Wijnen argued that there will be no more election spending this year and less public rehabilitation work. Furthermore, the e... |
Calcestuzzi to be re-consolidated22 April 2011, Published under Cement NewsWith a ruling dated April 20, 2011, the court of Caltanissetta revoked in full the preventive seizure on Calcestruzzi S.p.A., and ordered the return of the company assets to entitled shareholders. As announced on March 4, 2011, since the conditions for the re-inclusion of Calcestruzzi in the Italcementi Group scope of consolidation now apply, the company will be re-consolidated as from January 1, 2011. The effects of the re-consolidation will be included in the Italcementi Group report for t... |
HeidelbergCement Ukraine appoints Elito to board22 April 2011, Published under Cement NewsThe shareholders of HeidelbergCement Ukraine (Dnipropetrovsk region), one of the largest producers of cement in Ukraine, removed William Gilmar from the supervisory board of the company at a general meeting on April 20 and appointed Ernest Elito to replace him. In addition, the shareholders re-appointed the following onto the supervisory board: Wieslaw Adamczyk, Ivan Kozurak, Andrzej Baltserek (chairman), Andreas Kern, Jerzy Los, and Klaus Schwind. HeidelbergCement Ukraine, which has been ... |
JPMorgan Cazenove launches coverage, positive on sector22 April 2011, Published under Cement NewsJPMorgan Cazenove has initiated coverage of stocks in the European building material sector, rating CRH (CRH), Holcim (HOLN.VX) and Saint-Gobain (SGO.FR) as overweight, Buzzi Unicem (BZU.MI), HeidelbergCement (HEI.XE) and Lafarge (LG.FR) as neutral, and Italcementi (IT.MI) as underweight, reports Dow Jones. JPMorgan points out that stocks in the sector have begun to outperform in recent weeks, up 13% in aggregate since mid March 2011, adding: “The end of 2011 should see better conditions in ... |
Goldman Sachs raises ratings for majors, recovery more certain22 April 2011, Published under Cement NewsGoldman Sachs has raised Holcim (HOLN.VX) target to CHF81.70 from CHF72.40 on the assumption that global construction output has probably bottomed out, while retaining its rating at neutral. "Civil projects could remain pressured in some countries, but we don’t see this as enough to derail a steady recovery, with emerging markets continuing to grow well," said analyst Will Morgan. Lafarge and CRH were raised to buy from neutral, while Italcementi was raised to neutral from sell. |
Lafarge puts gypsum division up for sale22 April 2011, Published under Cement NewsLafarge Group has launched the sale of its gypsum business, according to a report in the Financial Times. A successful sale could raise at least €1bn ($1.45bn) which would be used to cut the cement major’s €16bn debt burden. Prospective buyers received information brochures earlier in the week and a number of interested parties have already made themselves known, with KKR, Advent reportedly in the running. The sale is expected to generate EUR1bn (USD1.4bn) although some market sources stat... |
India: record profit for Malabar Cements21 April 2011, Published under Cement NewsPublicly-owned Malabar Cements Limited has made record profit of INR51.23 crore (US$11.57m) during the financial year 2010-11 as against INR30.31 crore (US$6.84m) last year. Capacity utilisation of the company also reached an all-time high of 138.5 per cent during 2010-11. The turnover of the company also touched new heights of INR278.93 crore in 2010-11, breaking the previous record of INR278.77 crore during the financial year of 2008-09. The highest profit the company had made earlier w... |