Cement News tagged under: corporate
Cimpor sees further Asian and Brazilian growth15 April 2010, Published under Cement NewsThe publication of Cimpor’s annual report this week shows up some interesting information on the group in which the Brazilian groups Camargo Corrêa and Votorantim have stakes of 28.6% and 21.2% respectively, though with its voting arrangement with a Portuguese public sector bank, Votorantim has an influence over 30.8% of the capital. It shows that Cimpor earns its highest EBITDA margins in South Africa (46.1%), Morocco (44.4%) and Egypt (43.4%). In Portugal, the margin was 33.3% and it ex... |
Danareksa Group likely to gain Semen Gresik stake14 April 2010, Published under Cement NewsThe Danareksa group has emerged as the preferred buyer of a 1.25 per cent stake in Indonesian state-controlled cement company PT Semen Gresik, according to State Enterprises Minister Mustafa Abubakar. Mustafa said state-owned Danareksa was ready and able to purchase the Semen Gresik stake, which is being offered by investment firm PT Rajawali, but added that the plan had yet to be approved by Finance Minister Sri Mulyani Indrawati. Marciano Herman, a director at PT Danareksa Sekuritas, Dan... |
Castro Guerra new Cimpor chairman, Portugal14 April 2010, Published under Cement NewsAntonio Castro Guerra, former Deputy Secretary of State for Economic Affairs, has been appointed by the executive chairman of the board of Cimpor, after nomination received the shareholders’ nod. Previous chairman and CEO Ricardo Manuel Simoes Bayao Horta stepped down in March 2010 as a result of the recent “profound change in Cimpor’s shareholding structure.” |
Management changes at CRH Europe Products & Distribution14 April 2010, Published under Cement NewsCRH plc announces that Máirtín Clarke, managing director of CRH Europe Products & Distribution, has decided to resign from his position with effect from 31 May 2010. Máirtín will be succeeded by Erik Bax who is currently managing director of CRH’s European Distribution business. Erik (52) joined CRH in 1984 and has held a number of senior positions in Europe Products & Distribution, including Managing Director Rooflights & Ventilation, Managing Director Fencing & Security and Product Group ... |
Africa Cup of Nations boosts Angola 1Q infrastructure results14 April 2010, Published under Cement NewsA recent report on Angola’s infrastructure shows latest quarter saw activity in the domestic construction sector reach its peak on the back of the Africa Cup of Nations 2010 games. Although, held in January, the games are still providing a momentum for infrastructure projects and will push growth in the sector to 22.71% in 2010. Angola attracted international attention this quarter, as it hosted the 2010 games as well as the latest OPEC meeting, and both exemplified contradictions in a c... |
Yamama leads Saudi cement sales growth in 1Q13 April 2010, Published under Cement NewsYamama Cement posted the strongest growth among rivals in the cement sales growth during the first quarter, NCB Capital said on Monday as producers release their quarterly results. Compared to a year earlier, the volume of cement and clinker sales by Saudi firms rose 26 per cent during the first quarter with Yamama recording a 37 per cent rise, NCB Capital said in a note. “We believe the year-to-date volume bodes well for the YoY growth in financial performance [that] we expect to see for ... |
Steppe sees full-year loss12 April 2010, Published under Cement NewsSteppe Cement Ltd announced its preliminary annual results for the year ended 31 December 2009 posting loss attributable to equity holders of US$16.52 or 12 cents per basic share, compared to profit of US$18.64m or 16 cents per basic share last year. Pretax loss was US$19m compared to pre-tax profit of US$26.64m in the previous year. Revenue declined to US$59.13m from US$91.53m a year ago. The company noted that dividends will not be proposed for 2009 and it is not expected that dividend ... |
Burnpur Cement CEO resigns, India12 April 2010, Published under Cement NewsBurnpur Cement Ltd has informed BSE that Mr. Raj Kumar Agrawal, Chief Executive Officer (CEO) of the Company had resigned from the Company with effect of. March 31, 2010. |
Heidelberg CFO wants to lower interest expenses – report12 April 2010, Published under Cement NewsHeidelbergCement AG is confident it will be able to lower its interest expenses as the producer negotiates with its creditor banks on better refinancing conditions, the company’s chief financial officer tells German daily Boersen-Zeitung. "We are in preliminary talks and are quite confident that we have a good negotiation position," Lorenz Naeger says in an interview published in Saturday’s Boersen-Zeitung. He adds the company wants to lower the number of banks in its consortium. Naeger sa... |
Italcementi discards merger talks with Ciments Francais12 April 2010, Published under Cement NewsItalcementi denied on Friday rumours of new merger talks with its French subsidiary Ciments Francais, La Tribune reported. According to the market, the tie-up may generate synergies and increse the partners’ profitability, The rumours were provoked by the fact that Ciments Francais wil buy out nearly all the notes held by US investors who blocked a takeover from Italcementi in 2009. Following the transaction, estimated at US$483.5m, analysts commented that now talks between the two compan... |