Cement News tagged under: Corporate
Misr Cement Qena posts 14% net rise04 August 2010, Published under Cement NewsEgypt’s Misr Cement Qena posted a 14.2 per cent rise in net profit for the first half of 2010, the stock exchange said on Tuesday, a day after it sealed its stake in a new cement company in the south of Egypt. The firm posted profit of E£219.6m (US$38.6m), up from E£192.3m in the same period a year ago. Misr Cement Qena has been scaling up its investments in Egypt, signing a E£43m ready-mix concrete joint venture in southern Egypt with ASEC Cement, a unit of private-equity firm Citadel Cap... |
A TEC and GRECO join forces for new venture04 August 2010, Published under Cement NewsAustrian pyroprocess specialists A TEC and Brazilian combustion company GRECO are joining forces to bring global solutions in the pyroprocess of cement plants. The technologies of the two companies are synergic and complimentary and will bring A TEC’s and GRECO’s customers unique solutions in the worldwide cement business. A new A TEC-GRECO Joint Venture company in Brazil will start its activities very soon. Adriano Greco and Thomas Liebert will be the managing directors for A TEC GRECO in... |
Deutsche Bank cuts Italcementi price target to EUR 6.5003 August 2010, Published under Cement NewsDeutsche Bank has revised down to EUR 6.50 from EUR 7.00 the share price target on Italian cement maker Italcementi. On Friday Italcementi’s board approved the first-half results that showed a consolidated net profit of EUR 81.8 million (USD 107m), down 35.8% on the year. Italcementi shares closed Friday trading in Milan at EUR 6.28, plunging 3.01%. |
Siam City Cement: volume-driven growth in 2Q1003 August 2010, Published under Cement NewsSiam City Cement (SCCC) posted a 2Q10 net profit of Bt731mn that marks a rise of nine per cent YoY and a decline of 11 per cent QoQ. The QoQ decline was due to a seasonal effect, while the YoY growth was due to stronger domestic demand for cement since the beginning of the year. Domestic demand for grey cement in 1H10 of 13.6Mt was an increase of 12 per cent YoY, with demand in 2Q10 of 6.8Mt representing an 18% increase YoY. As all manufacturers focused on maintaining market share rat... |
RAK Co. for White Cement see sales and costs rise02 August 2010, Published under Cement NewsRas Al Khaimah Company for White Cement & Construction Materials saw a 43% fall in net profits for the first half of 2010 compared to the same period last year, as the increased cost of sales ate away at gross takings. The UAE firm, which produces white cement used in tiles and other decorative elements as well as calcium silicate bricks, saw after-tax numbers fall from AED50.15 million last year to AED28.3 million, in results yet to be audited. However, the company’s finance officer decl... |
Dyckerhoff sees 5% fall in group sales02 August 2010, Published under Cement NewsDyckerhoff has reported that it could not totally make up for the volume declines of the first quarter. In addition, prices declined for the most part. As a result, group sales fell by just under 5% in the first half of 2010. Group EBITDA decreased by EUR54m to EUR82m, which was attributable to a reduction in volumes and prices on the one hand. On the other hand, the previous half-year included positive one-time effects of EUR26m. Depreciation and amortization rose by EUR3m and EBIT drop... |
Steppe Cement 1H revenues up 20%, Kazakhstan30 July 2010, Published under Cement NewsSteppe Cement, a Kazakhstan-focused cement producer, said its first-half revenues rose by 20% to KZT4.694bn (US$32m). In the first six months of 2010, Steppe Cement sold 523,156t of cement at an average price of KZT8972 ($60.93) per ton, compared to 442,227t at an average price of KZT8776 (US$60.62) per ton in the same period of 2009, the company said in a statement. Steppe Cement said the cement market in Kazakhstan increased by 19% year-on-year, and the company maintained its market shar... |
Cemex appoints new director at Rugby plant, UK29 July 2010, Published under Cement NewsCemex has appointed a new director at its flagship cement plant in Rugby Warwickshire. Brian Southam, 50, was previously in charge of engineering and maintenance at the plant, and joined the company 29 years ago at the company’s Southam cement plant, which has since closed. He moved to Rugby in 1998 to assist and oversee the building and commissioning of the new Rugby plant, which, based on its annual capacity of 1.8Mt of cement, is the biggest cement plant in the UK. Brian will report i... |
Fino to buy back shares in Cimpor – report29 July 2010, Published under Cement NewsPortuguese entrepreneur Manuel Fino wants to buy back his shareholding in home cement producer Cimpor in the following year and half. The investor expressed this intention to local business daily Jornal de Negocios as reported today. In February 2009, Fino sold 9.6% in Cimpor to Portugal’s state-owned bank Caixa Geral de Depositos (CGD) in order to reinforce the financial positions of his investment vehicle Investifino. At that time, an agreement as regards the possible buyback within a th... |
GCC profits slump 63.7% in 2Q29 July 2010, Published under Cement NewsMexican producer Grupo Cementos de Chihuahua reported net profits of MXP86.5m (US$6.82m) in 2Q, down 63.7% from the same period last year. The slump was due to an unfavorable exchange rate combined with a harsh winter that slowed construction, the company said in its quarterly results report. Net sales for the quarter totaled MXP2.2bn, compared with MXP2.36bn in 2Q09. In dollar terms, consolidated net sales decreased 0.6%; however, the figure actually declined 6.9% during the period due to... |