Cement News tagged under: corporate
Dyckerhoff knocked back by harsh winter06 May 2010, Published under Cement NewsBuzzi Unicem’s quoted subsidiary Dyckerhoff saw first half turnover decline by 21.7% to €202m and the EBITDA turned negative to the tune of €10m compared with a €6m profit last year. Much of this deterioration can be put down a yet harder winter across northern Europe and also in the USA, on top of which many economies remain weak. Cement shipments declined by 20.0% to 1.90m tonnes, with lower volumes in all countries. The smallest reductions were seen in Luxembourg with a 2.2% reduction ... |
TPI Polene first quarter profit, Thailand05 May 2010, Published under Cement NewsTPI Polene (TPIPL) announced an impressive 1Q10 normalised profit of THB500m (EPS THB0.25), up 45% QoQ and 32% YoY. If including the extra items, a gain from debt restructuring of THB77m and a forex gain of THB100m, TPIPL would have posted a net profit of THB677m (EPS Bt0.34), down 76% QoQ, but up 22% YoY. This impressive normalised profit came as TPIPL sales were up to THB6139m (+18% QoQ, +8% YoY) from domestic cement demand, which rose by 7% YoY and LDPE petrochemicals that were higher t... |
Cemex extends tender period for offers05 May 2010, Published under Cement NewsCemex has extended to May 7 the expiration date for four offers to exchange outstanding perpetual debentures, the company said in a statement on Monday. The previous tender date to exchange outstanding perpetual debentures for new US dollar- or euro-denominated senior secured notes was Friday. |
Deutsche Bank lowers Buzzi Unicem rating to "hold"05 May 2010, Published under Cement NewsDeutsche Bank analysts announced a downgrade in the stock rating of Italian cement producer Buzzi Unicem to "hold" from "buy". Last week Italian brokerage Equita said it expected the company to have widened net loss to EUR51m (US$66.1m) in the first quarter of 2010 from EUR 43m a year earlier. The broker foresaw a 12% yearly drop in Buzzi Unicem’s revenue to EUR 514m, expecting a weak quarter due to the low prices in the United States and Italy. |
Weak private sector leads to continued pressure on Vulcan05 May 2010, Published under Cement NewsVulcan Materials’ first quarter turnover declined by 18.0% to US$493.3m and the EBITDA fell by 39.3% to US$58.8m. At the trading level the loss widened from US$1.3m to US$36.8m. With the net interest expense edging up by 0.4% to US$43.3m, the pre-tax loss widened by 72.8% to US$78.7m and the net attributable loss for the period was 18.2% higher at US$38.7m. Net debt at the end of the period was 1.5% higher than a year earlier at US$2365.2m, giving a gearing of 58.2%. Capital expenditure... |
Lafarge 1Q sales down on poor weather05 May 2010, Published under Cement NewsLafarge reported a 10 per cent drop in first-quarter sales on Wednesday as tepid economic growth and a harsh winter slowed construction work, sending its shares down. But the group kept its outlook unchanged for 2010, forecasting a rise of up to five per cent in global cement demand in its markets, and said it expected demand to start to recover in developed countries in the second half of the year. "The first quarter is traditionally a small one for Lafarge, this one was even smaller bu... |
Mangalam Cement Q4 net slumps 40%04 May 2010, Published under Cement NewsRajasthan-based Mangalam Cement Ltd witnessed a steep fall decline in profits for the company’s fourth quarter March 2010 results. The net profits fell by over 40% to INR22.89 crore over the same period a year back. Mangalam Cement’s net profits declined by 40.65% to INR22.89 crore on 11.14% fall in net sales to INR150.26 crore in 4Q March 2010 over 4Q March 2009. Meanwhile, announced that the company has received a letter from Mangalam Timber Products Ltd (MTPL) informing that the Board ... |
South Valley Cement boosts capital for takeover, Egypt04 May 2010, Published under Cement NewsShareholders in Egypt’s South Valley Cement approved a E£15bn (US$2.7bn) capital increase to buy the owner of the Citystars mega-mall in Cairo, the cement firm said on Sunday. "In order to acquire Golden Pyramids and its related companies, we will increase our capital from E£5bn to E£20bn said Tamer Abdel Rahman, the firm’s investor relations director. Golden Pyramids Plaza owns Citystars shopping mall and has other tourism and real estate projects in Egypt. "The goal is to diversify our ... |
CSN to spend US$20bn through 2016 – CEO04 May 2010, Published under Cement NewsBrazil’s largest diversified steel group, plans to invest up to BRL34bn (US$20bn) through 2016 to grow in cement, energy, logistics and mining, chief executive Benjamin Steinbruch said in a newspaper interview published on Monday. Valor Economico quoted Steinbruch as saying CSN’s aim is to have a market share of at least 20 per cent in each of those sectors within six years. The group plans to sell shares in its iron ore division by July, before the Northern Hemisphere’s summer vacation se... |
Gresik eyes Malaysian deal04 May 2010, Published under Cement NewsIndonesia’s biggest cement producer, PT Semen Gresik, said on Tuesday that it is in talks to acquire a Malaysia cement maker this year and has set aside more than IDR3.5trn (US$388m) for the deal. Semen Gresik declined to name its acquisition target, but two sources involved in the deal said it is in talks with Cement Industries of Malaysia Bhd (CIMA), a unit of Malaysia’s UEM Group, which has an 18 percent market share in Malaysia. "We want to be a regional player and plan to acquire a ... |