Cement News tagged under: corporate
Cemex rises 0.6% on high volume rising for a third consecutive day, a three day rise of 4.2 per cent15 December 2009, Published under Cement NewsCemex ( rose 7.0 cents (or 0.6 per cent) on high volume to close at US$11.34. Compared with the The Bank of New York Mellon Composite ADR index, which rose 1.2 points (or 0.9 per cent) on the day, this was a relative price change of -0.3 per cent. The ADR rose for a third day on Monday bringing its three-day rise to 46.0 cents or 4.2 per cent. |
Lafarge gains momentum on Euronext15 December 2009, Published under Cement NewsThe shares in French cement maker Lafarge gained 2.11 per cent to EUR 56.56 on Euronext Paris yesterday upon reassuring news from Fitch. Yesterday, Fitch said it may upgrade the credit ratings of the major European construction materials makers. The credit rating agency expects a gradual improvement in the construction sector over the next 24 months. Lafarge has a long-term Issuer Default Rating (IDR) of BBB-, with a "negative outlook" from Fitch Ratings. |
RTM Group may loss assets14 December 2009, Published under Cement NewsOn December 10, 2009 RTM development group informed its shareholders (among them co-owners of Siberian Cement Holding, Andrey Muravyev and Andrey Kirikov), that, as a result of litigation with creditors, the company may lose several large assets worth about US$115m. Banks may sell RTM collateral which secures loans (total debt -US$450m) shortly, as the developer filed for bankruptcy in October 2009. |
Binani leads gains in India cement company shares14 December 2009, Published under Cement NewsBinani Cement Ltd., an Indian manufacturer of the building material, rose to its highest level in more than 1 1/2 years in Mumbai trading on expectations that cement prices will increase in the first quarter of next year. Binani Cement surged 4.7 percent to 70.65 rupees as of 12:25 p.m. local time. Madras Cements Ltd. advanced 4.6 percent to 118.7 rupees; JK Cement Ltd. climbed 2.6 percent to 149.5 rupees and Prism Cement Ltd. gained 4.1 percent to 44.65 rupees. Ambuja Cements added 0.9 per... |
Saudi Arabian Cement CEO to step down in January14 December 2009, Published under Cement NewsSaudi Arabian Cement Company’s chief executive Muhammad Uthman has resigned and will be replaced by Ali al-Khuraimi, early next year, a bourse statement said on Saturday. "The board of directors at Arabian Cement Company have accepted the resignation of its chief executive Muhammad Uthman, which he submitted on Nov. 23," the firm said in the statement. The resignation will take effect on January 1 2010 when Khuraimi takes over, the statement said. |
Fitch: negative outlook for European building materials expected to stabilise in 201014 December 2009, Published under Cement NewsFitch Ratings says today that although the majority of Fitch-rated European building materials (EBM) issuers have negative outlooks, the expectation of a gradual improvement in credit metrics during the next 24 months could lead to a stabilisation of most rating outlooks. However, Fitch notes the continuing risk of a slower-than-anticipated improvement in credit profiles, should the recovery in general economic activity prove to be more anaemic than presently expected by the agency. Fitch ex... |
Cemex to issue MXN4.1B convertible bonds11 December 2009, Published under Cement NewsCemex will issue MXN4.1bn (US$320m) in convertible bonds Thursday in exchange for local notes held mostly by pension fund managers. Under the offer, which closed Wednesday, Cemex will issue 10-year bonds convertible into 172.5 million of its CPO shares. The Monterrey company, which recently raised $1.78 billion in a global equity offering, won’t receive any proceeds from the transaction. Cemex will cancel existing notes for MXN4.1 billion with maturities in 2010, 2011 and 2012. The conver... |
Saudi Arabian Cement Co 9 month net profit down11 December 2009, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) registered a decline in its net profit for the first nine months of 2009 to SAR 259.2m (US$69.1m) from SAR 277.4m a year ago. The decrease was chiefly due to a decline in average sales prices during the nine-month period, ACC said without giving exact figures. The earnings per share (EPS) stood at SAR 3.24, down from SAR 3.47. The operating profit also decreased in the first nine months of 2009 – to SAR268.6m from SAR275.2m a year earlie... |
Analysts see two new drivers for Cimpor’s stock10 December 2009, Published under Cement NewsMarket analysts see two new drivers for the stock of Portuguese cement producer Cimpor they said yesterday. According to the specialists, the current instability in the shareholders structure of the company as regards to its management and the interest of Brazilian real estate group Camargo Correa to enter the corporate capital will work as short-term drivers for the shares. In the previous week, Cimpor announced that Bayao Horta will be both chairman and CEO in the company. The company co... |
Rajawali offers to sell 25.2% Gresik Stake09 December 2009, Published under Cement NewsPT Rajawali Corp. is offering to sell its 25.2% stake in cement producer PT Semen Gresik for IDR6800/ share, a banker closed to the deal said late Tuesday. The banker who spoke on the condition of anonymity told Dow Jones Newswires that Rajawali, which is controlled by businessman Peter Sondakh, is offering its shares to investors via private placement at a 5.9% discount to the closing price of IDR7200 a share Monday. He said that Rajawali will use the proceeds to finance its plan to acqui... |