Cement News tagged under: corporate
Lafarge to halve dividend21 February 2011, Published under Cement NewsLafarge proposed a 50 percent cut to its dividend and pledged to reduce debt by at least EUR2bn this year to protect its investment-grade credit rating. Net income was EUR62m in the fourth quarter, in line with analysts’ estimates, compared with a EUR38m loss a year earlier. Shareholders will be asked to approve a dividend of 1 euro a share, the Paris-based company said in a statement today. |
Carthage Cement to appoint new management, Tunisia21 February 2011, Published under Cement NewsA new chairman and new directors of Carthage Cement will be appointed provisionally and proposed for approval at the next Ordinary General Assembly, according to Hatem Garbouj, Deputy Director General at the cement plant’s Financial Statement. "For the sake of transparency, we asked two auditors of the Company, KPMG and FINOR, to examine all bank transactions receivable of the Company from January 1, 2009, i.e. the company’s starting date of start of the company to the date of preparation ... |
Jiangxi Wannianqing Cement to raise US$105m18 February 2011, Published under Cement NewsJiangxi Wannianqing Cement Co, Ltd, a China-based manufacturer and seller of Portland cement and Portland cement clinker, is planning to raise CNY692m (US$105m) through a private placement of 65 million shares at a price of CNY10.64 ($1.62) per share. |
DG Khan profit declines, Pakistan18 February 2011, Published under Cement NewsThe profit after tax of Pakistan cement producer DG Khan Cement Company has declined to PKR 192.136m (US$2.25m) in the half year period ended December 31, 2010 as compared to PKR469.970m earned in the corresponding period in 2009. The company’s earning per share stood at PKR0.53 in the period under review against PKR1.29 in the same period a year back. The board of directors of the company in its meeting held on Thursday recommended to issue 20 per cent ordinary right shares at PKR20 per sh... |
Indonesian state-owned Semen Baturaja Cement to go public17 February 2011, Published under Cement NewsIndonesian state-owned cement company PT Semen Baturaja plans to go public in the third quarter of this year, Pandu Djajanto, state enterprises minister’s deputy for restructuring and privatisation said. He said PT Semen Baturaja plans to offer 25% of its shares through an initial public offering. The plan would be submitted to an internal meeting with the minister. "We will propose PT Semen Baturaja. The meeting will take place on Sunday. According to plans the IPO will be done in the thir... |
Jiangxi Wannianqing cement to raise CNY692m16 February 2011, Published under Cement NewsJiangxi Wannianqing Cement intends to raise CNY692m (US$105m) by issuing 65 million shares at CNY10.64/share, according to a company filing. Of the total money raised, CNY500m will be used to supplement its working capital and acquire a 50-percent stake in Jinxi Cement. The remaining funds will go to a thermal power project and the construction of two cement mixers. Since Nanfang Wannianqing Cement, Jiangxi Wannianqing Cement’s subsidiary, also holds a 50 per cent stake in Jinxi Cement, Ji... |
Siam City Cement weak fourth quarter results, Thailand16 February 2011, Published under Cement NewsSCCC reported a net profit for 4Q10 of THB570m (US$18.6m), down 19% YoY and 2% QoQ, with the YoY decline attributed to flooding in the central and northeast regions, and the QoQ decline due to quarter being the low season for cement sales. Full-year net profit of THB2.7bn represents a decline of 8.3% YoY, which was due to a narrowing EBITDA margin from 25% in 2009 to 23% because of price competition. SCCC looks likely to post a net profit of THB3.13bn, an increase of 15.9% YoY, which will m... |
Thailand’s Siam Cement to sell up to THB15bn bonds16 February 2011, Published under Cement NewsSiam Cement PCL will offer four-year bonds worth up to THB15bn (US$488.4m) during March 1-4 and March 28-31, the company said in a filing with the Securities and Exchange Commission Wednesday. The offering will be made to holders of the company’s bonds maturing this year, holders of its other bonds, and the public, the company said. Siam Commercial Bank PCL is the lead arranger, while Kasikornbank PCL, Bangkok Bank PCL, Krung Thai Bank PCL, and Bank of Ayudhya PCL are co-arrangers. |
Saudi Tabuk Cement recommends dividend for 2H1015 February 2011, Published under Cement NewsThe management board of Saudi cement producer Tabuk Cement Company (TCC) have decided to recommend to shareholders a cash dividend of SAR0.45 (US$0.12) per share, or a total SA 40.5m, for the second half of 2010. If the dividend payout is approved, the total dividend for 2010 will come in at SAR 1.35 per share, as the company has already paid a dividend of SAR 0.9 per share for the first half of 2010. TCC registered a rise in its net profit for 2010 to SAR 123.3m from SAR 121.1m a year ear... |
Fitch revises outlook of Siam Cement to "positive"15 February 2011, Published under Cement NewsFitch changed on Monday to "positive" from "stable" the outlook of Thai industrial holding Siam Cement PCL while affirming its national long- and short-term ratings at A(tha) and F1(tha), respectively. The agency also decided to keep the rating on the company’s senior unsecured debentures at A(tha). Additionally, Fitch attached a national long-term rating of A(tha) to the unsecured debentures of up to THB15bn (USD487.7m/EUR362.4m), due in 2015, with proceeds to be used for refinancing SCC’... |