Cement News tagged under: corporate
Heidelberg forecasts slow recovery11 February 2010, Published under Cement NewsHeidelbergCement warned that low levels of new building work would hamper recovery prospects in the first half of 2010 as cold weather across Europe heaped more pressure on the recession-strained construction industry. The world’s third-largest cement producer by market capitalisation has endured a tough 18 months in which it has sought to shed the stifling €15bn debt burden, amassed in part because of its £7.7bn ($11.2bn) acquisition of British rival Hanson. Forecasting a “slow recovery f... |
Qatar Cement reports rise in profits10 February 2010, Published under Cement NewsA statement released by the Qatar Cement Company (QCC) said that the company’s net profit edged up to of US$114m in 2009, compared to US$113.3m in 2008, QNA reported. |
Vulcan’s volumes fall, with cement seeing steepest drop10 February 2010, Published under Cement NewsVulcan Materials’ turnover fell by 26.3% last year to US$2,690.5m, with the EBITDA dropping by 38.1% to US$548.4m. The lower volumes, lower profits from the sale of assets and a 1.9% increase in net interest charges to US$173.0m gave rise to a pre-tax loss of US$19.2m compared with a profit of US$75.1m in the previous year. Capital expenditure was cut by more than two-thirds to US$109.7m from US$353.2m in 2008, and is expected to be only slightly higher this year at around US$125m. ... |
Cemex’s No. 2 unexpectedly retires10 February 2010, Published under Cement NewsCemex said on Tuesday its No. 2 executive, who helped guide the company through the global credit crisis, was taking early retirement, sending its shares down two per cent. Hector Medina, 58, who was Cemex’s executive vice president of finance and legal, had been seen by analysts as the successor to Chief Executive Lorenzo Zambrano. Cemex said that from March 1, senior executive Fernando Gonzalez would assume many of Medina’s responsibilities, including strategic planning and finances. "W... |
Lafarge Hires Zaoui for Cimpor stake sale09 February 2010, Published under Cement NewsMichael Zaoui, Morgan Stanley’s former chairman of European mergers and acquisitions, has been hired as an adviser by Lafarge SA, Financial News reported. Zaoui is advising the company on the sale of its stake in Cimpor to Brazil’s Votorantim Cimentos SA, the Web publication said, citing an unidentified person familiar with the transaction. Zaoui retired from Morgan Stanley in 2008. |
Saudi’s Yanbu to pay SAR3 2009 dividend08 February 2010, Published under Cement NewsSaudi Arabia’s Yanbu Cement Co said on Saturday it would give shareholders a SAR3 dividend for 2009. The total dividend payout, which will be paid after a shareholders’ assembly, amounts to SAR315m, the firm said in a statement on the bourse website. |
India: Andhra Cements to allot equity shares08 February 2010, Published under Cement NewsThe committee meeting of Andhra Cements will be held on 06 February 2010 to consider and approve the allotment of 65,00,000 equity shares of Rs. 10 to Echo Fiscal Services on preferential basis. |
Two members resign from Cimpor’s board08 February 2010, Published under Cement NewsTwo members have left the board of directors of Cimpor after Lafarge sold its stake in the company. Jean Desazars de Montgailhard and Albert Corcos yesterday presented their resignations, Cimpor said in a filing with Portugal’s national bourse regulator CMVM. Lafarge agreed to sell 17.28% in Cimpor to Brazilian company Votorantim Montgailhard and Corcos were the two representatives of Lafarge in Cimpor’s board appointed at the last general shareholders meeting held in May 2009. |
Nigeria producers cut by HSBC on fuel shortages04 February 2010, Published under Cement NewsThree of Nigeria’s four biggest cement makers had their recommendations cut by HSBC Holdings Plc on concern fuel shortages in Africa’s biggest oil-producing nation will cause earnings to “disappoint.” Militant attacks have disrupted pipeline supplies from the Niger Delta oil region, cutting output from four state-run refineries and causing the West African nation to rely on imports to meet 80 percent of daily domestic needs. Fuel shortages have worsened since November after companies includ... |
HeidelbergCement – a return to stability02 February 2010, Published under Cement NewsOnly 12 months ago industry analysts were marking down HeidelbergCement as a high-profile casualty of the global financial crash. Smothered under a mountain of debt and facing a bank-led takeover, the world’s No 3 cement producer had to act quickly to save its investors from terminal losses and not least its reputation as one of Germany’s blue chip companies. Not many thought it would survive, but Bernd Scheifele, its chief executive, confounded critics by pushing through a massive refinanci... |