Cement News tagged under: corporate
Egypt’s Sinai Cement 2010 net profit rises 35%07 March 2011, Published under Cement NewsEgypt’s Sinai Cement said net profit jumped 35% in 2010 to EGP905.7m (US$153.5m), according to the stock exchange on Sunday. The firm posted a net profit of EGP671.5m in 2009. Sinai Cement, the local unit of France’s Vicat , said it registered a 7.6% increase in sales to EGP1.6bn, up from EGP1.5bn. |
Italcementi’s margins still being squeezed07 March 2011, Published under Cement NewsItalcementi’s turnover declined by 4.3% to €4790.9m in 2010 and the underlying EBITDA came off by 13.9% to €836.3m and the trading profit fell by 20.1% to €353.8m. Net financial charges were reduced by 3% to €95.6m. Lower exceptional costs and an increased contribution from the Canadian associate left the pre-tax profit 16.3% lower at €259.2m but the net attributable dropped by 35.8% to €45.8m as the large minorities’ charge rose by 5%, to €151.3m, or more than three times net attributab... |
Kenya: Bamburi, Athi River slide on report cement prices may decline04 March 2011, Published under Cement NewsBamburi Cement Co retreated the most in two months and Athi River Mining (ARM) snapped two days of gains after a report said the price of cement may decline by as much as 10% this year. Bamburi, the local unit of Lafarge, slid 3.6% to KES190 (US$2.28), the biggest drop since 6 January, by the 15h close-of-trading in Nairobi. Athi, the country’s third-largest cement maker, declined 0.6% to KES182. Wholesale prices for a 50kg bag of cement dropped 9.1% in December, the Nairobi-based Business ... |
Sino Cement buys Shaanxi Shehui Cement04 March 2011, Published under Cement NewsSino Cement announced that it completed the acquisition of Shaanxi Shehui Cement Co Ltd as of 21 February 2011. Mr Shehui Shi, Chairman and CEO of Sino Cement said, "We are very pleased to announce the completion of our acquisition of Shaanxi Shehui Cement Co Ltd and the appointments to our Board of Directors. We are very positive about the growth potential of the cement industry in China and our company’s growth prospects as we continue to strive to become a market leader. We have reached... |
Far Eastern Group to buy cement suppliers in China expansion04 March 2011, Published under Cement NewsTaiwan’s Far Eastern Group is considering the purchase of up to three cement companies in China as it expands into the retailing, materials and chemicals industries in the world’s second-largest economy, Chairman Douglas Hsu said. The acquisitions in the Chinese cement sector, where the company is ranked 13th, will help Far Eastern achieve its goal of being among the top 10 suppliers within five years, Hsu said without identifying the targets. Taipei-based unit Asian Cement Corp and Hong ... |
West China Cement plans CNY3bn expansion04 March 2011, Published under Cement NewsThe company is taking advantage of Beijing’s plan to invest and build infrastructure in less-developed western provinces. The central government has imposed limits on national cement production to curb oversupply since last year, but has allowed western regions to increase production, Zhang said. "In the next 10 years, as part of the government’s western development plan, the company will step up its investment in upgrading infrastructure in the western region," he said. The firm’s cement w... |
Thailand: Asia Cement maps out big plans for the future04 March 2011, Published under Cement NewsAsia Cement, the manufacturer of Lotus brand cement, has earmarked THB1.4bn (US$47.7m) this year for its waste-heat recovery (WHR) project and another THB200m for aggressive marketing in a bid to boost its profit margin and build brand awareness. Co-managing director Mario Bracci said that the company’s profit margin would improve from the second half of 2012, once the WHR project is completed. The WHR project will cut the cost of energy by a third, because it will generate electricity from... |
Cimpor: boosted by Brazil04 March 2011, Published under Cement NewsCimpor increased turnover by 7% in 2010 to €2239.4m, boosted by strong performances in Brazil, Turkey and China, but partially offset by the decline in Spain. The EBITDA advanced at a slower pace, increasing by 3.9% to €629.8m. The trading profit improved by 8.6% to €409.7m and with a 3.9% reduction in the net financial charge, the pre-tax profit rose by 11.1% to €348.5m. A 42.1% rise in the tax charge and a 14.8% higher minorities charge left the net attributable profit just 2.0% ahead at €... |
Holcim proposes Alexander Gut to the Board03 March 2011, Published under Cement NewsThe Board of Directors proposes to the Annual General Meeting of May 5, 2011 that Alexander Gut, Managing Partner of Gut Corporate Finance AG, Zurich, Switzerland, be elected to the Board. Alexander Gut, 47, Swiss and British national, holds a degree as Dr oec publ of the University of Zurich (Business Administration) and is a Swiss Certified Accountant. From 1991 to 2001 he was a Senior Manager of KPMG in Zurich and London, from 2001 to 2003 a Partner of Ernst & Young in Zurich and from 200... |
Holcim: brighter prospects for 201103 March 2011, Published under Cement NewsSwiss cement major Holcim has reported a fall in 2010 net profit and looks to increase prices to offset rising input costs. However, for this year, the group expects a rise in sales across the board as construction markets recover in western Europe and North America. “From a global perspective, it can be expected that the construction sector in the mature markets will recover and that the growth in the emerging markets will continue. Holcim therefore anticipates an increase in sales acros... |