Cement News tagged under: corporate
Dalmia receives investment from KKR14 September 2010, Published under Cement NewsDalmia Bharat Enterprises said it has received INR500 crore investment from private equity firm KKR in Avnija, manufacturer of Dalmia brand of cements. In last May, Dalmia Cement and KKR had inked an agreement to invest INR750 crore for use in both sequential and merger & acquisition-based growth of the cement making firm. "The additional capital enables us to consolidate our existing market position, deleverage our balance sheet and pursue attractive organic and inorganic growth optio... |
Holcim ready for acquisitions, sizes up emerging markets14 September 2010, Published under Cement NewsHolcim Ltd is looking for acquisitions, particularly in emerging markets, Chief Executive Markus Akermann said Tuesday. "For the right price we are ready to mobilize the funds to do substantial acquisitions to strengthen our position in strategic markets," Akermann said in documents published at a Holcim presentation for investors. One focus is Brazil, where Holcim is falling behind rivals such as Votorantim and Lafarge is in terms of installed cement capacity. "We are exploring all optio... |
China Shanshui appoints new executive director13 September 2010, Published under Cement NewsChina Shanshui Cement announced the appointment of Zhang Bin as executive Director and Vice Chairman with effect from 10 September for three years. Zhang acted as Deputy General Manager and Joint Company Secretary of Shanshui Cement andhas been primarily responsible for supervising the continuing regulatory compliance and investor relations. |
CM-CIC cuts Lafarge share target ?13 September 2010, Published under Cement NewsCM-CIC Securities retained on Friday its "hold" recommendation on Lafarge, but lowered its share price target to EUR 47 from EUR 53. However, the broker does not rule out a rebound of the share value in the short-term period. |
Goldman Sachs turns more positive on China cement sector13 September 2010, Published under Cement NewsGoldman Sachs previously viewed China cement sector more conservatively due to potential margin contraction risk, assuming cement producers unable to pass on rising raw material prices amid oversupply. But house now turning more positive as expects better supply/demand balance to lead to more sustainable cement prices; "We see more sustainable cement prices for regions with higher industry concentration rates and believe industry leaders with solid financials in each region could benefit fro... |
EAPC prepares to recruit new CEO, Kenya13 September 2010, Published under Cement NewsEast Africa Portland Cement Ltd has started the process of recruiting a new chief executive. The Athi River-based cement manufacturer, advertised to fill the managing director’s position on Friday, two months after its former CEO, Mr John Nyambok, resigned. Mr Kephar Tande, the head of finance, is the acting MD of the firm in which the government holds sway. “The company is now looking to fill the position of managing director as part of a re-organisation programme aimed at achieving high... |
WISCO unit teams up with Singaporean slag-cement producer13 September 2010, Published under Cement NewsWuhan Iron and Steel (Group) Corp (WISCO) said in its newsletter on September 13th that its wholly-owned subsidiary WISCO Metal Resources Co Ltd signed an agreement with Singaporean slag-cement producer EnGro Corp Ltd on September 10th to build up a ground granulated blast furnace slag powder project. Under the agreement the two firms will produce 1.2Mt of ground granulated blast furnace slag powder per year at first, and will expand the output to 6Mt at a later stage. |
Societe General reduces Holcim’s price target10 September 2010, Published under Cement NewsA "hold" rating by Societe Generale lowered today the share price target on Holcim to CHF70 from CHF80 and affirmed the "hold" recommendation. Societe Generalemeans that a company’s shares are expected to be 10% below or above the market average over the next 12 months. Analyst Mike Bridges said he downgraded the price target because of lower earnings forecasts and risks for cement prices in India. |
Nigeria Approves US$14bn Dangote Cement Listing10 September 2010, Published under Cement NewsNigeria’s stock exchange approved a NGN22.09trn (US$14bn) listing of Dangote Cement, the nation’s biggest producer of the building material, which will increase the bourse’s market capitalisation by 37 percent. The company will be created out of the merger of Dangote Cement and Benue Cement Co., the Lagos-based bourse said in an e-mailed statement today. A total of 15.5 billion shares for the will be listed at 135 naira each, the exchange said, without giving further details. Afrinvest (We... |
CRH weakens below Exponential Moving Average Price09 September 2010, Published under Cement NewsCRH has dropped below its trend. The MACD indicator (12 day EMA-26 day EMA) is negative, a bearish signal. In the past 26 days this indicator is negative for 23 days, suggesting further downside. The stock fell for a second day on Wednesday bringing its two-day fall to 62.50 cents or 4.6%. The stock price fell 41.0 cents (or 3.0%) to close at EUR13.04. Compared with the ISEQ Overall index, which fell 22.3 points (or 0.8%) on the day, this was a relative price change of -2.2%. Volatility: th... |