Cement News tagged under: corporate
Rain Commodities acquires Birla Cement & Industries14 February 2011, Published under Cement NewsRain Commodities Ltd, which manufacturers Priya Cement, has acquired Birla Cement and Industries Ltd from Yash Birla Group for an undisclosed sum. “Consequent to the said acquisition, Birla Cement and Industries Ltd has become a wholly-owned subsidiary of the company,” the Hyderabad-based company informed the Bombay Stock Exchange on Friday. “Birla Cement and Industries Ltd holds certain Limestone Mining Leases in the State of Andhra Pradesh,” it said. When contacted, Mr Srinivasa Rao, Chie... |
BBMG’s merger of Taihang Cement approved, China14 February 2011, Published under Cement NewsBBMG Corporation of China said that it received the official written approval from the Beijing Municipal Commission of Commerce regarding the merger proposal in relation to Taihang Cement on 11 February. The merger proposal will involve the issue of A shares by BBMG. |
Siam City to 2010 net profit down, Thailand11 February 2011, Published under Cement NewsThailand’s Siam City Cement PCL Thursday reported an 8.5% fall in 2010 net profit mainly due to higher costs, including distribution expenses. The company posted net profit of THB2.70bn (US$87.8m) in the year ended December 31, down from THB2.95bn in 2009, according to financial statements filed to the Stock Exchange of Thailand. Sales revenue rose to THB20.98bn from THB19.9bn, while the cost of sales rose to THB12.11bn from THB11.27bn. Sales and distribution expenses rose to THB4.29bn fro... |
India Cements 3Q net down 38%11 February 2011, Published under Cement NewsIndia Cements, a major cement producer in south with increasing presence in the north, on Thursday reported a 38.3 per cent lower net profit for the quarter ending December, 2010. The company’s net profit for the three-month period ending December 31, 2010 was INR21.47 crore against INR34.8 crore reported in the corresponding quarter of the previous year. India Cements’ net sales for the third quarter of the present financial year too was marginally down at INR780.99 crore against INR864.12... |
HSBC downgrades Holcim to underweight11 February 2011, Published under Cement NewsHSBC downgrades Holcim to underweight from overweight. Energy cost inflation is likely to undermine cement margins in 2011-12 and the US construction market is likely to remain in the doldrums this year. The bank cuts its Holcim target price to CHF55 (EUR41.8) from CHF75. |
TransCreditBank opens RUR500m facility for cement plant11 February 2011, Published under Cement NewsTransCreditBank has opened a RUR500m (€12.45m) credit line for Topkinsky Cement, part of the Siberian Cement group, the largest cement producer in Siberia. The money is provided for two years and will be used to replenish the company’s working capital. The first installment of RUR300m has already been transferred, and the next one will be provided later this month. In November 2010, TransCreditBank provided a RUR310m loan to the group’s Timlyuisky cement plant, also for two years. |
Emerging markets to support Sinoma’s earnings - UOBKH11 February 2011, Published under Cement NewsAnalysts at UOB KayHian says Sinoma is not a pure cement player, noting that cement engineering accounts for 58% of its revenue; it says Sinoma is expanding into new businesses through JVs and strategic alliances to diversify its product mix. "Despite the slowdown in new orders locally due to capacity constraints, we believe emerging markets in the Middle East, Southern Asia and Eastern Europe will continue to contribute to Sinoma’s bottom line." It tips share price catalysts include improve... |
Taiheiyo Cement maintains net profit forecast09 February 2011, Published under Cement NewsTaiheiyo Cement Corp maintained a full-year net profit forecast of JPY4bn (US$48.4m) after worsening net loss from JPY2.5bn to JPY5.4bn for the nine months to December 31, 2010. Revenue was down 1.6% to JPY537.3bn. Operating profit increased 131.9% to JPY8.6bn and ordinary profit fell 31.2% to JPY1.7 billion. Full-year revenue forecast is unchanged at JPY691.4bn to March 31, 2011. |
TPI Polene: 2010 Revenue Higher Than 200909 February 2011, Published under Cement NewsThai cement maker TPI Polene, said Tuesday that revenue this year should be higher than 2010 due to strong demand for cement and robust prices for low density polyethylene. Senior Executive Vice President Orapin Leophairatana told reporters that the company also generated more revenue last year than the THB26.6 billion ($866.44 million) it booked in 2009. She said the company has set an investment budget for 2011 of THB2bn. |
Bank increases participation in Cimpor07 February 2011, Published under Cement NewsCaixa Geral de Depósitos (CGD) and its subsidiary Companhia de Seguros-reinforced participation in Cimpor between August 6 and December 30 last year. In a statement sent to the Securities Market Commission (CMVM), Cimpor states that the August 6, CGD had 64,449,326 shares of cement and Loyalty-World 20,700 shares. Following the transactions, the bank now holds 64,477,124 shares and insurance 20 700 titles. |