Cement News tagged under: corporate
Tokyo Cement sees tough times ahead, Sri Lanka22 February 2010, Published under Cement NewsTokyo Cement PLC (Tokyo) will be challenged on both the revenue and cost segments in coming years despite an expected construction boom in the economy, according to analysts. “Fluctuations in limestone in the world market will be the main barrier towards the cost of sales while the government controlling procedures of retail cement prices would make an impact on expected revenue of the group,” an industry analyst said. A stock analyst said that Tokyo’s results (net loss of Rs 77 million for... |
UAE Fujairah Cement ’09 net profit more than halves19 February 2010, Published under Cement NewsUAE cement producer Fujairah Cement Industries Co said its net profit for 2009 slumped to AED 80.8m (US$ 22m) from AED 195.6m for 2008 as sales tumbled. Operating profit fell to AED 78.4m from AED187.8m on sales of AED455.1m, down from AED744.8m in 2008. Earnings per share fell to AED 0.23 from AED 0.55. Total liabilities at end-December stood at AED 688.5m, increasing from AED 657.3m at end-2008. |
Cimpor’s board rejects new CSN offer19 February 2010, Published under Cement NewsThe board of Cimpor has rejected the new takeover offer from Brazilian steelmaker CSN worth EUR4.15bn (US$5.63bn), Cimpor said in a statement. CSN recently raised its offer to EUR6.18 per share from EUR5.75 and lowered its terms from at least 50% plus one share of Cimpor to one-third plus one share. The offer undervalues Cimpor, the statement said, adding that the price is lower than the 6.50 euros per share Brazilian construction firm Camargo Corrêa has paid for stakes in the Portuguese f... |
Dalmia Cement profit drops in Q3 200916 February 2010, Published under Cement NewsDalmia Cement has announced a decline in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company declined 4.68 per cent to INR 226m from INR 237.1m in the same quarter last year. Meanwhile, net sales for the quarter for the quarter rose 30.08 per cent to INR 5,256.60m while total income for the quarter rose 32.16 per cent to INR 5289m when compared with the prior year period. |
CSN sweetens bid for Cimpor while EU Commission clears purchase16 February 2010, Published under Cement NewsBrazilian steelmaker and iron ore producer CSN has raised its bid to acquire Portuguese cement producer Cimentos de Portugal (Cimpor) to €6.18 (US$8.42) Meanwhile, The European Commission cleared the acquisition of Portugal cement maker Cimpor by Brazilian steel company Companhia Siderurgica Nacional, the EU executive said in a statement on Monday. "The transaction would not significantly impede effective competition in the European Economic Area," the Commission said. "The parties are n... |
Thailand’s Siam City Cement - 4Q09 earnings lower than expected15 February 2010, Published under Cement NewsSCCC reported a 4Q09 net profit of THB707m, up 18.1 per cent YoY but down 4.4 per cent QoQ. Stripping out FX gains of THB48m, its normalised profit was THB659m, up 9.3 per cent YoY, but down 12.9 per cent QoQ. The result was 10 per cent below our expectation and 5 per cent below the market consensus due to higher-than-expected SG&A expenses at year end. The improvement YoY was backed by increased margin from better cost control, while the drop QoQ was due to higher SG&A expenses at year end.... |
Australia: Adelaide Brighton chief financial officer resigns12 February 2010, Published under Cement NewsAdelaide Brighton announces that announces that Michael Kelly has been appointed Chief Financial Officer. This follows from the resignation of Andrew Poulter, who will be taking up the role of Chief Financial Officer of Boral Limited. The stock price rose 2.0c (or 0.8 per cent) to close at US$2.47, ending a two-day streak of losses. Compared with the All Ordinaries index, which rose 13 points (or 0.3 per cent) on the day, this was a relative price change of 0.5 per cent. |
Hamblen succeeds CalPortland CEO Repman12 February 2010, Published under Cement NewsA 20-year veteran of CalPortland and affiliated companies, Allen Hamblen has been elevated from executive vice president and chief operating officer to chief executive officer. He replaces James Repman, who had announced in December his year-end retirement, capping a 30-year career in heavy building materials. Repman has overseen mergers, acquisitions and plant expansion projects positioning CalPortland as a key cement, concrete and aggregate producer in southern California, Arizona, the P... |
Brazil’s Camargo says buys 6.5 pct more in Cimpor12 February 2010, Published under Cement NewsBrazil’s construction firm Camargo Correa said on Thursday that it bought an additional 6.5 per cent stake in Portuguese cement-maker Cimpor. Sao Paulo-based Camargo Correa, a construction and industrial group, agreed to buy the stake from Spanish steel-maker Bipanosa at a price of €6.5 per share, the company said in a statement. Camargo Correa, which already had a 22 per cent stake, did not disclose exactly how many shares it bought. Camargo is in talks to buy an additional three per cent ... |
Camargo Corrêa buys into Cimpor11 February 2010, Published under Cement NewsBrazilian construction company Camargo Correa SA said Wednesday it paid € 975m (US$1.35bn) for a 22 per cent stake in Cimpor, which is already the target of a takeover bid by Brazilian steelmaker Companhia Siderurgica Nacional (CSN). Camargo Correa, one of Brazil’s largest construction businesses, said in a statement it bought almost 150m Cimpor shares from Portugal’s Teixeira Duarte at a price of € 6.5/share. Teixeira Duarte was Cimpor’s largest shareholder. Rio de Janeiro-based CSN, whi... |