Cement News tagged under: corporate
Cemex sinks to 6-week low on U.S. asset deal12 October 2010, Published under Cement NewsShares of Cemex fell to a more than six-week low on Monday after it said it would buy US.assets in a deal that could push it closer to breaking promises to creditors. Last Friday, Cemex said it was forced to pick up assets in the southeastern United States from its US joint venture partner Ready Mix USA after the US firm exercised a "put" option. Deutsche Bank cut the stock to "hold" from "buy" on the news, saying additional debt and pressure on Cemex’s cash flow from the deal would raise ... |
New orders for KHD11 October 2010, Published under Cement NewsKHD has won major orders from India-based UltraTech Cement Ltd for two cement lines, a member of the Aditya Birla Group. As a consequence of a long-standing and successful relationship between UltraTech and KHD, the two companies now agreed on new orders for two projects in India with a volume of EUR 85m. This order will contribute to KHD’s earnings until commissioning begins in 2H12. As a result, KHD Humboldt Wedag International AG lifts its guidance for order intake from previously EUR 2... |
Nirma to delist from Indian bourse10 October 2010, Published under Cement NewsNirma Ltd said the board has approved a proposal by the promoters to acquire all outstanding shares of the company at 235 rupees per share and delist from the BSE and NSE. |
Indian shares climb on price hike08 October 2010, Published under Cement NewsShares of ACC, Ambuja Cement, UltraTech Cement and others rose on Tuesday after a business daily reported that cement prices in Gujarat and Maharashtra were likely to increase. Cement manufacturers are set to hike prices by around Rs20 per 50kg bag from October 1 in Gujarat while a similar hike is being contemplated for Maharashtra, including Mumbai. The proposed price hike can be attributed to the pick-up in cement demand, as construction activities have gradually accelerated following th... |
BMV classifies Cemex as higher risk08 October 2010, Published under Cement NewsThe low demand for cement in Mexico and the United States puts Cemex’s operation under pressure, and among all the possibilities of investment in cement companies in the Bolsa Mexicana de Valores (BMV), their actions are classified as "higher risk." "We attach high risk rating for Cemex, due to its high financial leverage, the grim recent financial performance and uncertainty in the construction sector demand in several key international markets where the company operates," explains a rep... |
Mid Europa completes sale of Calucem07 October 2010, Published under Cement NewsMid Europa Partners today announced that it has completed the sale of Calucem’s operating assets to ARGUS Capital Partners. Calucem is one of the leading suppliers of calcium aluminate cement in the world. With production facilities based in Croatia, and sales offices in Germany, the US and Singapore, the Company supplies high quality and specialty cement to the global refractory and building chemistry industries. Robert Knorr, Partner of Mid Europa, said: “We are proud of the management’s ... |
Wapco Cement sees 4Q profit at US$26.4m07 October 2010, Published under Cement NewsLafarge Cement Wapco, the Nigerian unit of Lafarge, said on Thursday it expected fourth quarter pre-tax profit of NGN4.01bn (US$26.4m) . It said turnover for the three months to December is expected to hit NGN13.33bn, the company said in a filing with the Nigerian Stock Exchange. |
Deutsche Bank ups Siam Cement target06 October 2010, Published under Cement NewsDeutsche Bank raises target price of Siam Cement to THB436 from THB331, based on earnings growth forecasts of 8% for 2010, 24% for both 2011 and 2012. As $4.5bn capacity expansion program of past 5 years tails off, Siam Cement well positioned for transition in global petrochem cycle from trough to recovery. In view of 88% enlargement of Siam Cement’s petrochem capacity by 2012, larger proportion of higher margin products, house forecasts Siam Cement’s petrochem EBITDA to be flat this year bu... |
Yanbu 3Q profit falls 4.1%, Saudi Arabia06 October 2010, Published under Cement NewsYanbu Cement, a Saudi Arabian cement maker, said third-quarter profit declined 4.1 per cent on lower sales and production. Net income fell to SAR94m (US$25.1m), from SAR98m a year ago, the Jeddah, Saudi Arabia-based company said in a statement on the Saudi bourse website. Third-quarter operating profit dropped 5.8 per cent to SAR97m. Saudi cement production declined 5.6 per cent in August to 3.05Mt, compared with 3.23Mt during the same month last year, according to industry data provided o... |
EAPC full year-loss, 2011 turnaround expected06 October 2010, Published under Cement NewsEast African Portland Cement Ltd. posted a net loss of KES292.4m (US$3.6m) in the year through June 30 compared with a year-earlier profit of KES1.83bn, the Nairobi-based cement producer said. Fiscal full-year sales rose to KES9.41bn from KES8.1bn a year earlier, it said in a statement distributed today by the Nairobi Stock Exchange. “Market demand for cement remains strong and the company expects improved production and sales volumes in the coming year,” East African Portland Cement sa... |