Cement News tagged under: corporate
Adelaide Brighton’s clear, organic focus, Australia21 March 2011, Published under Cement NewsSince becoming managing director of Adelaide Brighton (AdBri) in 2001, Mark Chellew has focused on shareholder returns and helped the group become an achiever in an industry that has struggled under a depressed construction and housing market. "Our strategy is very clear; we are a cement- and lime-producing company operating in a vertically integrated market," he says. "Our primary aim is to look at acquisitions in concrete and quarries or lime, and we’re unlikely to diversify out of our c... |
Lafarge Zimbabwe revenue rises18 March 2011, Published under Cement NewsZimbabwean group Lafarge Cement reported flat full-year earnings as a tax expense offset strong revenue growth, and said it expected further sales growth as the economy recovers. "Profit attributable to shareholders remained largely the same ... despite increased sales revenues, due to a tax expense incurred for the year, as opposed to a tax credit in 2009," chairman Muchadeyi Masunda said on Thursday. The company said basic 2010 earnings per share were flat at 0.03 cents. The company was ... |
LSR Group bond placement, Russia18 March 2011, Published under Cement NewsOJSC LSR Group, a Russian construction and building materials company, announces the placement of interest-bearing non-convertible rouble bond. The bonds will be placed through public subscription. The total size of the issue is RUB2bn (EUR49.7m). |
HeidelbergCement upgraded to ‘BB’ by Standard&Poor’s18 March 2011, Published under Cement NewsStandard&Poor’s Rating Services raised HeidelbergCement’s long-term corporate credit rating and the issue ratings on the company’s senior unsecured bonds to ‘BB’ from ‘BB-‘. As rationale, Standard&Poor’s highlighted the consistent allocation of cash flow to deleveraging and the prudent spending on acquisitions and shareholder remuneration. The positive outlook reflects the view that HeidelbergCement’s credit measures will continue to strengthen based on a combination of cost savings and ... |
HeidelbergCement profit rises18 March 2011, Published under Cement NewsGerman cement major HeidelbergCement ended the 2010 financial year successfully, reporting increases in turnover and operating margins. The company attributed its performance to cost-cutting measures implemented at an early stage, in some cases even before the start of the global financial crisis. "In 2010, the HeidelbergCement team successfully demonstrated implementation capabilities and cost efficiency once again," said Dr Bernd Scheifele, chairman of the managing board. "In addition, ... |
Indocement 4Q10 net profit falls, Indonesia17 March 2011, Published under Cement NewsPT Indocement Tunggal Perkasa, Indonesia’s biggest cement maker by market value, on Thursday said its fourth-quarter 2010 net profit fell four percent as costs climbed. The firm’s fourth quarter net profit was IDR841bn (US$95.8m) in 2010, compared with IDR878bn in the same period a year earlier, Reuters calculations showed based on published full-year and nine-months results. Indocement, controlled by HeidelbergCement, reported a full year 2010 net profit of IDR3.224trn, up 17 per cent f... |
Lafarge Cement Zimbabwe profit unchanged17 March 2011, Published under Cement NewsLafarge Cement Zimbabwe said net income for the 12 months through December was unchanged at US$2.7m as a tax credit wasn’t repeated. Revenue for the period increased to US$41.7m from US$28.3m a year earlier, the company said. It paid taxes of US$1.05m, compared with a credit of US$1.15m in 2009, it said. |
Schenck Process acquires Clyde Process Solutions17 March 2011, Published under Cement NewsSince the end of February Schenck Process (Germany) has been the sole shareholder of Clyde Process Solutions, a supplier of air filtration, pneumatic conveying and injection technologies. The shareholders of the previously listed UK company voted in favor of the acquisition. Commenting on this result, Dr Jochen Weyrauch, President & CEO of Schenck Process, said: "We are delighted to have received such overwhelming support from Clyde’s shareholders and look forward to warmly welcomin... |
Cemex announces closing of US$1.67bn convertible notes17 March 2011, Published under Cement NewsCemex announced today the closing of an offering of US$1.67bn aggregate principal amount of two series of convertible subordinated notes, one of which matures in 2016, and the other in 2018. This amount reflects the full exercise of the US$267.5m over-allotment options granted to the initial purchasers. Substantially all the new shares approved at Cemex’ extraordinary shareholders’ meeting on February 24, 2011 are being reserved by Cemex to satisfy conversion of the notes. Consequently, Ce... |
HeidelbergCement reports 4Q10 net profit17 March 2011, Published under Cement NewsHeidelbergCement reported a profit in the fourth quarter of 2010 and also expects higher turnover and operating income in 2011. The company’s fourth-quarter group share of profit was EUR100m, compared with a loss of EUR377m YoY. Additional ordinary result, which includes items like restructuring costs, asset and goodwill impairments and other one-time gains and losses, was a loss of EUR69m, narrower than the previous year’s EUR506m. Net income from continuing operations was EUR143m, reve... |