Cement News tagged under: corporate
Demerged Dalmia Bharat makes listing debut, India27 January 2011, Published under Cement NewsDalmia Bharat Enterprises Ltd (DBEL), the demerged cement and power business of Dalmia Bharat Sugar & Industries (formerly Dalmia Cement Bharat) swung between valuation of INR860 crore and INR1950 crore on its debut and is trading at INR213 in early morning hours on day 1. Dalmia Bharat Sugar & Industries, that has become a pure play sugar firm now, was up 4% on Thursday valuing the firm at around INR370 crore. Given the 1:1 share issue in the demerger, the combined value of the demerged co... |
Rain Commodities to transfer its cement business26 January 2011, Published under Cement NewsThe board of India’s Rain Commodities’ has given its approval for transfer of cement business from Rain Commodities (Holding Company) to Rain CII Carbon (India), which is a wholly owned subsidiary company, with effect from April 01, 2010. |
Sinoma estimates 2010 profit to have grown 80%26 January 2011, Published under Cement NewsChina Sinoma International Engineering, which is principally engaged in cement production and a listed subsidiary of China National Materials Group Corp, announced that it expected to see net profit for 2010 surge more than 80% YoY, sources reported. The company attributed the profit surge to the increased operating revenue from core business. China Sinoma said in a statement that its operating revenue was CNY18.01bn (US$2.7bn) in 2009, with earnings per share of CNY1.86. However, no figur... |
Thai Siam Cement net profit rises 53.5%26 January 2011, Published under Cement NewsThailand’s largest industrial conglomerate by revenue, said Wednesday its 2010 net profit rose 53.5% mainly due to a gain from selling its stake in PTT Chemical, as well as higher sales. The company posted full year net profit of THB37.38bn (US$1.21bn), compared with THB24.35bn in 2009, according to a filing with the Stock Exchange of Thailand. Siam Cement’s 2010 net profit was in line with the THB35.16bn average forecast of seven analysts surveyed by Dow Jones Newswires. Sales rose 26.3%... |
Votorantim, Holcim seen buying 40% stake in BRC for US$1bn25 January 2011, Published under Cement NewsBrazilian conglomerate Votorantim or the Brazilian unit of Holcim are the potential buyers of a 40% stake in US-controlled cement maker BRC Cimentos, according to a report by news service Agencia Estado. BRC put the stake up for sale in August for BRL1.8bn (US$1.07bn). Among the other companies showing interest at the time were local construction company Camargo Correa, steelmaker CSN and the Joao Santos cement group. However, Holcim has declined to comment and Votorantim has claimed no kno... |
Siam Cement 2010 net profit likely +44.4%25 January 2011, Published under Cement NewsThailand’s Siam Cement is likely to post a 44.4% YoY increase in its 2010 net profit to THB35.16bn (US$1.1bn), shows a Dow Jones poll of seven analysts. One-off gains from selling its stake in PTT Chemical and a better performance by its paper and petrochemical businesses are attributable to the expected robust earnings. Siam Cement in December sold a 15.6% stake in PTT Chemical for THB33bn and the company is expected to book an THB8.8bn profit from the sale in 4Q. |
Merckle rearranges HeidelbergCement holdings, Germany25 January 2011, Published under Cement NewsLudwig Merckle, a major shareholder of HeidelbergCement AG, has rearranged his holdings in the group, HeidelbergCement said Monday. Merckle, who has so far divided his stake in various parts of the group, will now hold 25.01%, or the overwhelming part of his holdings, in group unit Spohn Cement Beteilungen GmbH. Merckle altogether has a 25.11% stake in HeidelbergCement. Merckle has with this move reaffirmed his long-term commitment to HeidelbergCement. Merckle said he doesn’t plan to incr... |
Gresik 2010 seen rising due to cost-efficiency25 January 2011, Published under Cement NewsIndonesia’s largest cement producer PT Semen Gresik said its net profit in 2010 was estimated at IDR3.5trn (US$390m), up from IDR3.3trn in the previous year. The increase in net profit was attributable to cost efficiency, Dwi Soetjipto, the president of the state company, said yesterday. Soetjipto said the financial performance would have been better barring earthquake that interrupted the process of production in one of its subsidiaries in Padang, West Sumatra. Income last year was expec... |
UltraTech posts 36% fall in quarterly profit, India25 January 2011, Published under Cement NewsUltraTech Cement Ltd, India’s largest cement maker by capacity, Tuesday posted a 36% fall in its third-quarter net profit. Net profit for the three months through December dropped to INR3.19bn (US$69.9m) from INR4.99bn a year earlier. Sales rose nearly 1% to INR37.15bn from INR36.82bn. The year earlier results include the numbers of Samruddhi Cement Ltd, which was merged with UltraTech in August 2010. |
China Resources acquires stakes in four companies25 January 2011, Published under Cement NewsChina Resources Cement Holdings acquired stakes in four cement companies for a total of CNY406m (US$61.7m), according to reports from local press, citing a company filing. The purchases include a 29 per cent stake in Zhujiang Cement, a 10 per cent stake in Guangzhou Yubao Cement, a 10 per cent stake in Yuesheng Concrete and a 10 per cent stake in Yuequn Concrete. Upon the completion of the transactions, China Resources Cement Holding will hold a 64.5 per cent stake in Zhujiang Cement and 5... |