Cement News tagged under: corporate
Banca Leonardo lowers Cementir price target to EUR 2.5002 July 2010, Published under Cement NewsBanca Leonardo has revised down to EUR 2.50 from EUR 2.90 the share price target on Italian cement maker Cementir Holding. The broker motivated the decision with lowering its expectations for the 2010-2012 period. |
New ACC chief may come from Holcim, India02 July 2010, Published under Cement NewsFollowing the resignation of Sumit Banerjee as its managing director, ACC is likely to appoint an official from Holcim Group, the controlling shareholder of the Indian cement company, as its new chief. ACC on Wednesday announced the resignation of Banerjee as its MD and said that the board would appoint his successor – probably a foreign national – later in July. |
Bank of AmericaMerrill Lynch cuts Italcementi price target02 July 2010, Published under Cement NewsBank of AmericaMerrill Lynch has lowered its share price target on Italian cement maker Italcementi to EUR 6.00 from EUR 7.80. Shares in Italcementi had dropped 2.79% to EUR 6.10 at 1116 CET on the stock market in Milan on Thursday. |
West China Cement applies for Hong Kong listing02 July 2010, Published under Cement NewsWest China Cement says the Hong Kong Stock Exchange has considered its listing application. It expects the earliest date for listing will be August 6. The company has convened an EGM for July 20 to approve its delisting from AIM within three months. If market conditions do not favour a Hong Kong listing by October 20, it is likely that the company will seek a further shareholder resolution later in the year. |
Lafarge looks to sell minority stake in Malaysian interest02 July 2010, Published under Cement NewsLafarge has decided to explore the potential sale of a minority interest of up to 11.2% in Lafarge Malayan Cement Berhad (LMCB). Lafarge presently holds 62.2% shareholding in LMCB via its subsidiaries, Lafarge Cement UK PLC and Associated International Cement Ltd. Lafarge would remain the majority shareholder, with a minimum 51% shareholding and management control of LMCB. This transaction would contribute to Lafarge’s divestment programme for year 2010. |
Cimpor shares rise following upgrade01 July 2010, Published under Cement NewsCimpor shares today reported the biggest rise in a month, following an interim analysis of Santander, where the cement rises recommendation to ’buy’. Share of Cimpor accelerated 5.6% to 4.66 euros, the best performance in today’s 20 PSI and the biggest rise in since May 26. This on a day when the main index gains Portuguese notes in excess of 2%. The ’performance’ of the securities comes after Santander revised upwards its recommendation for action fro ’underweight’ to ’buy’, arguing t... |
Tabuk Cement sets dividend, Saudi Arabia01 July 2010, Published under Cement NewsSaudi Arabian cement maker, Tabuk Cement, said its board set a first-half dividend of SAR0.90/share, or SAR81m. The company also appointed Eisa bin Yaslam Baeisa as general manager |
TPI Polene sees higher 2010 net profit, Thailand01 July 2010, Published under Cement NewsTPI Polene PCL, Thailand’s third-largest cement firm, said on Thursday it expected 2010 net profit to be higher than the THB4.76bn (US$147m) it made last year. Chief Executive Prachai Leophairatana attributed the profit outlook to higher cement demand on the back of government infrastructure projects. "This year’s profit should beat last year’s slightly," Prachai said, adding that an investment in a power plant would help bring saving costs of THB600m a year. The company also expected ... |
Banerjee resigns at ACC, heads to Anil Ambani?01 July 2010, Published under Cement NewsACC Ltd managing director Sumit Banerjee has resigned from the company and is soon likely to join Anil Ambani group to spearhead the latter’s cement business, according to local press reports. In a filing to the Bombay Stock Exchange, ACC on Wednesday said Banerjee has submitted his resignation to the company and the board will consider the same in a meeting scheduled for July. Although there was no formal word, industry sources said Banerjee will join Anil Ambani-led ADAG’s cement divis... |
LSR group elects Chairman, Russia01 July 2010, Published under Cement NewsOn 1 July 2010, the Board of Directors (BoD) elected by the Annual General Meeting of Shareholders of OJSC LSR Group on 30 June 2010, was held for the first time, and elected its Chairman, members and chairmen of the committees, members of the Executive Committee and also a President of LSR Group. The Board of Directors elected Igor Levit as a Chairman of the Board of Directors, and also the members of the Board committees as follows: Audit Committee: - Sergey Skaterschikov, Independent N... |