Cement News tagged under: corporate
Texas Industries planning to refinance up to US$550m of debt28 July 2010, Published under Cement NewsTexas Industries Inc. (TXI) announced a tender offer to buy back US$550m of notes maturing in 2013 as the cement company plans to sell US$600m of 10-year debt to fund the deal. The company, whose main business is in Texas and California, joins a roster of firms looking to refinance debt with fresh borrowings as interest rates are near record-low levels. Under the tender offer, Texas Industries offers to pay $1,020.63 for each $1,000 of the notes, including a $20 early tender bonus. The not... |
Thai Siam Cement 2Q group net up 6.7%28 July 2010, Published under Cement NewsSiam Cement Pcl (SCC) Thailand’s biggest industrial conglomerate, posted a better-than-expected 6.7 per cent rise in quarterly earnings on Wednesday, thanks to higher sales. The company, 30 per cent-owned by the Crown Property Bureau, reported an April-June net profit of THB7.29bn (US$226.5m), or 6.08 baht per share, up from the THB6.84bn a year earlier and higher than the THB6.02 billion baht forecast by eight analysts polled by Reuters. Siam Cement, which earns up to half its profit from... |
Binani Cement first-quarter net dips 60%28 July 2010, Published under Cement NewsBinani Cement, the flagship company of the Braj Binani Group, said its first quarter net profit fell 60% to INR43 crore. “It was a tough quarter this year in terms of profits which got affected mainly due to increase in international coal prices and an increase in freight charges,” said a Binani Cement spokesperson. The company’s net sales fell 22% to Rs 430 crore for the quarter ended June 30, 2010, from INR525 crore in the same period last year. Binani Cement expects to maintain ... |
QNCC posts QR257m 1H profit, Qatar27 July 2010, Published under Cement NewsQatar National Cement Company (QNCC) has posted a marginal 1% rise in its first-half net profit to QR256.79m. However, gross profit rose by a robust 31% to QR258.28mn as cost of sales plunged faster than revenue, according to its financial statement. Revenues fell 33% to QR586.61mn whereas cost of sales more than halved to QR328.33mn. Other income plunged 65% to QR33.33mn during January-June 2010. Stoppage of cement imports led the decrease in sales value, QNCC chairman and managing direc... |
Cemex reports 2Q results27 July 2010, Published under Cement NewsCemex announced today that consolidated net sales decreased 3% in the second quarter of 2010 to approximately US$3.8bn versus the same period in 2009. Operating EBITDA decreased 13% in the second quarter of 2010 to US$664m YoY. Consolidated cement sales volume increased 3% versus the same period in 2009, while ready-mix and aggregates sales volumes decreased 5% and 4%, respectively. Lower sales in the quarter were primarily attributable to a lower contribution from our U.S. and European o... |
Siam Cement (SCC): expect resilient 2Q earnings26 July 2010, Published under Cement NewsSiam Cement’s (SCC) 2Q10 results are expected to be more resilient than petrochem heavyweight peers due to a step up in petrochem volumes from new capacity and healthy contributions from domestic-oriented cement and paper businesses (40% of EBITDA). A 2Q10 net profit of Bt6.53bn is forecasted for SCC which represents a marginal decline of 4.5% YoY and 4.7% QoQ. A major positive contributor should be higher volumes while the key drag should be lower spreads. Assuming a dividend pay-out rati... |
Oman Cement posts 71% jump in profit26 July 2010, Published under Cement NewsOman Cement Company, the sultanate’s second largest, posted a 71 per cent jump in second-quarter net profit bolstered by state compensation.. The company reported net profit of OMR11.17m (US$29.01m) versus OMR6.52m in the same quarter one year earlier. |
Adelaide Brighton appoints new director26 July 2010, Published under Cement NewsCement and lime producer Adelaide Brighton Ltd has appointed Ken Scott-Mackenzie as a non-executive director. Mr Scott-Mackenzie has also been appointed to the company’s independent directors committee. He has over 35 years’ experience in infrastructure, construction and mining services gained in Australia and South Africa, as well as extensive experience in financial, legal and commercial aspects of projects. He is also chairman of Macmahon Holdings Ltd and a member of the federal governm... |
Chile: Votorantim raises capital by US$500m23 July 2010, Published under Cement NewsVotorantim Andina, with a presence in the mining and cement business in Chile, is issuing 500m shares priced each US$1, raising its capital to US$1.258mil, according to the application files in the securities commission SVS. A larger capital is needed to finance the investments planned over the next years, explains manager Francisco Wilson. Since 2007 Votorantim has zinc mining operations, and also control on the copper mine Ivan; it has 15% on Cementos Bio Bio. |
Chettinad Cement Board to consider Final Dividend for 2009-10??23 July 2010, Published under Cement NewsChettinad Cement Corporation Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 27, 2010, to consider recommendation of Final Dividend for the Financial year 2009-10. |