Cement News tagged under: corporate
Ha Tien 1 reports loss, Vietnam02 November 2010, Published under Cement NewsHa Tien 1 Cement JSC (HT1), listed on the Hochiminh Stock Exchange, said it made a loss of VND22.34bn in the third quarter. Its revenues rose 18% YoY to VND1.136trn during the period, the Thoi bao Kinh te newspaper reported. The firm attributed the high prices of imported clinker, coal and diesel to the loss. In the first half of this year, HT1 made a net profit of VND104.92bn on revenues of VND1.842trn, rising 35.06% and 43.01% from a year earlier, respectively. HT1, completing the acq... |
Shareholders increase stake in Tangshang Jidong Cement02 November 2010, Published under Cement NewsJidong Development Group increased its stake in Tangshan Jidong Cement of China by 7.764 million shares or 0.64 percent of its total share capital in the last six months, reports 163.com, citing a company announcement. Jidong Development Group held a total of 502 million shares in Tangshan Jidong Cement as of October 29, accounting for 41.42 per cent of the total. |
Oman’s Raysut to raise debt to finance UAE purchase02 November 2010, Published under Cement NewsOman’s Raysut Cement Company (RCC) said it is studying a number of offers it received from banks proposing to finance its planned acquisition of United Arab Emirates’ Pioneer Cement Industries. The acquisition aims to boost ’s capacity and to "enhance its leadership role locally and regionally as major player in the region," RCC said in a statement posted on the Muscat bourse website. The move is "in line with [RCC’s] future strategies and efforts to increase its shares in export markets... |
JK Cement slips into the red, India01 November 2010, Published under Cement NewsIndia-based producer JK Cement has slipped into the red with a INR21-crore loss in the quarter ended September 30, due to a stiff rise in costs of raw material, freight, and fuel. The company had reported INR65.38-crore net profit in the corresponding quarter last fiscal, it said in a statement to the Bombay Stock Exchange. Total income of the company also remained almost static at INR434.85 crore compared with the INR439.64 crore reported in the July-September quarter of the last fisca... |
UAE firms see opposite net results01 November 2010, Published under Cement NewsTwo UAE-based cement firms have seen opposite fortunes for their third quarter net profits, Construction Week reports. Ras Al Khaimah Company for White Cement & Construction Materials saw net gains fall 7% to AED59.9m, despite an equal percentage rise in net operating profits to AED51.5m. The UAE firm produces white cement used in tiles and other decorative elements as well as calcium silicate bricks, and is expanding one of its three plants to meet national demand. It also produces hydra... |
UltraTech appoints additional director, India29 October 2010, Published under Cement NewsThe board of directors of UltraTech Cement Ltd. has appointed Adesh Gupta as an additional director with immediate effect in its meeting held on Oct. 26. Adesh Gupta is the CFO and a whole-time director of Grasim Industries Ltd. |
Dangote Cement becomes Nigeria’s largest listed firm27 October 2010, Published under Cement NewsDangote Cement listed 15.5 billion shares at NGN135 yesterday, after a merger this month with local rival Benue Cement, making it the country’s leading cement maker and the biggest company ever to list on the Nigerian stock exchange. The billionaire held majority stakes in Benue Cement and Dangote Cement through his holding company Dangote Industries, meaning the free float of the listed entity was initially just 4.1 per cent, below the regulator’s 25 per cent minimum. He sold US$154m worth... |
Lafarge WAPCO pre-tax profit rises 23%, Nigeria27 October 2010, Published under Cement NewsLafarge Cement WAPCO said on Tuesday its pre-tax profit rose 23 per cent to NGN9.03bn (US$60m) in the nine months to end-September. Turnover dropped to NGN33.04bn in the period from NGN35.09bn a year earlier, the firm said in a filing to the Nigerian Stock Exchange. |
Nigeria’s Dangote may sell 20 per cent of unit to London investors26 October 2010, Published under Cement NewsNigeria’s Dangote could sell 20 per cent of its cement business to London investors, its chief executive said on Monday. "It’s still under consideration, but most likely we may be thinking about taking it to London," Aliko Dangote, Nigerian billionaire and chief executive of Dangote, told a news conference in Johannesburg. Morgan Stanley increases target price of Ambuja Cements |
Burnpur Cement net soars 17.59 times for Sep 10 quarter22 October 2010, Published under Cement NewsBurnpur Cement disclosed a phenomenal rise in standalone net profit for the quarter ended September 2010. During the quarter, the profit of the company rose 17.59 times to INR1.07m from INR 0.06m in the same quarter last year. Net sales for the quarter declined 7.50 per cent to INR56m, while total income for the quarter fell 7.21 per cent to INR56.4m, when compared with the prior year period. Shares of the company declined INR 0.02, or 0.17 per cent, to trade at INR11.50. The total volu... |