Cement News tagged under: corporate
Oyak Cement 2010 sales target, Turkey07 January 2010, Published under Cement NewsTurkey’s Oyak Cement Group said on Thursday it targeted 2010 cement sales of more than TRL1bn (US$678m) and sales in 2009 amounted to TRL825m. In a statement, the group also said domestic sales fell 2.6 per cent and foreign sales 12.1 per cent in 2009, when exports amounted to US$170m. |
Shuangji Cement appoints new chief financial officer07 January 2010, Published under Cement NewsChina Shuangji Cement, Ltd a leading producer of high quality Portland cement in Shandong and Hainan Provinces, PRC today announced that it has appointed Ms. Michelle Xiao Wen Zhu as the Company’s new Chief Financial Officer (CFO). Ms. Zhu has an MBA from the University of California, Irvine and is a licensed CPA with experience auditing publicly traded companies. During her tenure as an auditing manager for Kabani & Co., a licensed PCAOB accounting firm with many US listed Chinese client c... |
Yanbu Cement gets US$80m loan, Saudi Arabia06 January 2010, Published under Cement NewsYanbu Cement Co, a Saudi cement maker, has got a US$80m loan from the Saudi Industrial Development Fund to finance an expansion project. The loan will cover 14 per cent of the US$581.3m project, the Jeddah-based company said in a statement on the Saudi bourse website today. The remaining cost of the project will be funded by the company and bank loans. |
CCCL to issue 15m of new preferred shares to TCL06 January 2010, Published under Cement NewsShareholders of Caribbean Cement Company Limited (CCCL) voted Tuesday in favour of the plan that would solidify Trinidad Cement Limited’s hold on the Jamaican operation, but would also free the operation of US$15m (J$1.34 billion) of debt and the attendant foreign exchange conversion risk. TCL will swap the debt for equity in Caribbean Cement to be held in newly created preference shares. "That loan is a continuous risk to us because there is foreign exchange risk involved and if you look ... |
Prosperity cement business disposal update05 January 2010, Published under Cement NewsProsperity Minerals Holdings Ltd said Monday its net proceeds following completion of the disposal of its cement unit are expected to be HK$3800m (US$489m) less any expenses relating to the Disposal, which are expected to be immaterial in comparison. Main facts: -The proceeds from the Disposal are payable in cash. -Upon completion of the Disposal, Prosperity is expected to have the following major assets: *a substantial increase in its cash position arising from the Consideration of HK$3... |
Portugal: CSN expected to increase bid for Cimpor05 January 2010, Published under Cement NewsBrazilian steelmaker CSN could increase its offer of 3.86bn euros (US$5.56bn) for Portugal’s largest cement producer Cimpor, SLW brokerage’s steel market analyst Pedro Galdi told BNamericas. On December 30, the Brazilian steelmaker filed a request to the Portuguese securities commission (CMVM) to purchase Cimpor. The request is now pending CMVM analysis and approval. "Cimpor shareholders have eight days [after CMVM approval, expected this week] to say whether they want to sell the company ... |
Southern Province reports lower profits, Saudi Arabia04 January 2010, Published under Cement NewsSouthern Province Cement Co (SPCC), one of Saudi Arabia’s top three cement firms by market value, said on Sunday its net profit in 2009 would be 7.8 per cent lower than in 2008. SPCC said preleminary results show that its net profit this year would reach SAR729m (US$194.4m) down from SAR791m a year earlier. Based on previous quarterly earnings, this means that SPCC expects its net profit during the fourth quarter to be flat at SAR176m. |
Sinoma increases shareholding in Gansu Qilianshan Cement30 December 2009, Published under Cement NewsChina National Materials Co Ltd (Sinoma) is increasing its shareholding in Gansu Qilianshan Cement Group Co Ltd to further expand capacity, the cement equipment and engineering services provider said in a statement on its website yesterday. Sinoma plans to buy a 51 percent stake in Gansu Qilianshan Holdings Co, which is the largest shareholder of the Shanghai-listed Qilianshan Cement with a 12.78 per cent stake, for CNY333m. The deal is by far the largest in China’s cement industry this ye... |
Cement makers see tough markets in Europe, U.S.- FT30 December 2009, Published under Cement NewsThe world’s leading cement makers expect the coming years to be tough in Europe and the United States as rising government debt looks set to squeeze infrastructure spending, the Financial Times said on Wednesday. As a result, large cement makers such as Holcim and Lafarge are pinning their hopes on demand from emerging markets such as China and India. "It will be at least three to five years until building materials markets in the most hit mature economies return to their peaks," Markus Ak... |
Khazar Cement Company to go public29 December 2009, Published under Cement NewsA four-per cent block of shares of Khazar Cement Company will be offered on the Tehran Stock Market on January 4, 2010. The block of shares equals 8,745,744 shares, the Islamic Republic of Iran News Network reported. According to Iran’s Fourth Five-Year Economic Development Plan (2005-2010), the IPO, affiliated to the Ministry of Economic Affairs and Finance, is in charge of setting prices and offering shares to the general public and on the stock market. In 2007, Supreme Leader Ayatollah... |