Cement News tagged under: corporate
Cimentos Liz delays IPO on risk aversion04 April 2011, Published under Cement NewsBrazilian cement producer Cimentos Liz postponed on Friday a plan to sell shares to investors for as many as 60 days because of deteriorating market conditions. Terms and conditions for the offering could be revised, depending on market sentiment, the company said in a statement. Earlier in the day, the securities regulator CVM told Reuters it had not been notified of the decision by the company. |
Buzzi 2011 advance restrained by Italy & USA04 April 2011, Published under Cement NewsOn a turnover that was off by just 0.9% to €2648.4m in 2010, Buzzi Unicem’s underlying EBITDA was almost stable (-0.3%) at €540.2m. Once the €150.9m impairment charge on the Oglesby, Illinois cement works, other exceptional and extraordinary charges are taken into account, the trading profit (EBIT) was virtually eliminated to stand at just €0.3m. The net attributable loss for the year amounted to €63.5m compared with a €139.5m profit. Overall cement volumes improved by 4% to 26.6Mt and by ... |
Millennium Investment Banking cuts Cimpor price target04 April 2011, Published under Cement NewsMillennium Investment Banking has cut its price target for Cimpor from EUR7.20 to EUR6.80. The investment house recommends "buy " for Cimpor. Analyst John Matthew explains that the review comes after the investment house changed "the estimates and the method of calculation of capital costs" of Cimpor. "The major impacts come from the business areas of Brazil and Turkey, " while the market with the most negative impact is Portugal, according to a research note published today. |
Cementos Pacasmayo appoints new CEO, Peru04 April 2011, Published under Cement NewsHumberto Del Carpio Nadal has been appointed CEO of Cementos Pacasmayo SAA, Peru’s second largest cement producer behind Cementos Lima. Nadal replaces Humberto Lino A. Caballerino Abram who resigned from his post in January 2011. |
BankDhofar lead arranges project finance for Raysut Cement03 April 2011, Published under Cement NewsBankDhofar is the Lead Arranger for an international syndicate as it closed a landmark US$175m acquisition finance facility in favour of Raysut Cement Company to acquire Pioneer Cement Industries LLC, UAE which was owned by Ras Al Khaimah Industrial Authority and Penna Group of India. |
Votorantim Cimentos sells US$750m debt01 April 2011, Published under Cement NewsVotorantim Cimentos on Thursday sold US$750m of notes in the 144a private placement market, said IFR, a Thomson Reuters service. Bank of America Merrill Lynch, Itau BBA and JP Morgan were the joint bookrunning managers for the sale. |
Holcim Board member Robert F. Spoerry to not stand for re-election31 March 2011, Published under Cement NewsRobert F. Spoerry, Member of the Board of Directors of Holcim Ltd since 2008 will not stand for re-election at the Annual General Meeting of Holcim on May 5, 2011. This is because he has been elected Chairman of the Board of Directors of Sonova, a provider of provider of hearing healthcare solutions. . |
Heracles Group sales down 24.3%, Greece31 March 2011, Published under Cement NewsHeracles Group of Companies announced today sales of EUR401.41m for 2010, falling by 24.3% compared to 2009. Company sales were at EUR350.80m, down by 25.2% compared with 2009. The group΄s EBITDA was EUR14.32m and represented a decrease of 84.4% compared to 2009, while the company΄s EBITDA decreased by 75.8% compared with 2009, amounting to EUR22.56m. Sales in 2010 were mainly affected by the further slowdown in private construction activity in the domestic market as a combined result of... |
Mediobanca lifts price target on Italcementi30 March 2011, Published under Cement NewsExperts at Mediobanca have raised the share price target on Italian cement producer Italcementi to EUR7.60 from EUR 7.40. The bank confirmed its "neutral" rating on the cement maker’s stock. |
Cemex sells bond, covers debt until 201330 March 2011, Published under Cement NewsCemex sold US$800m in four-year bonds on Tuesday, its third bond issue this year, and said it now had almost enough money to pay creditors and avoid a penalty. Cemex sold the senior secured floating rate bonds denominated in dollars, the company said in a statement. It sold US$1bn of bonds in January and US$1.67bn of convertible notes earlier this month, pulling together funds to repay US$2.3bn in debt this year under a deal with its creditors and to avoid a US$200m fine. "As a result ... |