Cement News tagged under: corporate
TXI cement shipments to remain under pressure24 November 2009, Published under Cement NewsAnalysts at KeyBanc Capital Markets maintain their “hold” rating on Texas Industries Inc (TXI). Recent checks indicate that TXI’s cement shipments and selling prices would be under pressure, specifically in Texas, in the near term. With weather extremely wet in Texas during September and October, the total shipping days for cement reduced drastically, KeyBanc Capital Markets said. KeyBanc Capital Markets believes that cement prices will remain weak in California and Texas until there is a c... |
UltraTech Cement up 11 per cent in six days23 November 2009, Published under Cement NewsUltraTech Cement rose 2.10 per cent to INR807.60 at 11:29 IST on BSE, extending gains for the sixth day in a row, after the boards of both UltraTech Cement and the unlisted Samruddhi Cement approved a merger deal. The announcement was made before market hours on 16 November 2009. Meanwhile, the BSE Sensex was up 76.80 points, or 0.45 per cent, to 17,098.65. On BSE, 10,290 shares were traded in the counter as against an average daily volume of 72,935 shares in the past one quarter. The sto... |
East Africa Portland Shareholders Back Bond Sale, Nation Says20 November 2009, Published under Cement NewsShareholders of East African Portland Cement Co, Kenya’s second-biggest maker of the building material, approved plans to issue a KES3bn (US$40.2 million) bond, the Daily Nation reported. The sale will fund the repayment of a yen-denominated loan, the Nairobi-based newspaper said, citing Managing Director John Nyambok. The company expects approval from the Capital Markets Authority and the subsequent sale of the bond to take place before March 31, it said. In 1990, East African borrowed KE... |
’Very complex’ merger cements Amarchand, Aditya Birla20 November 2009, Published under Cement NewsAmarchand Mangaldas Mumbai has advised Aditya Birla Group in the series of mergers between Grasim Industries, Samruddhi Cements and UltraTech Cements, creating India’s largest and the world’s tenth largest cement manufacturer. Amarchand Mumbai managing partner Cyril Shroff and corporate partner Nivedita Rao advised on two separate mergers, which saw Grasim’s cement business first demerging to Aditya Birla-owned Samruddhi. Samruddhi subsequently merged into sister company UltraTech to form o... |
CRH dips 0.4% on high volume20 November 2009, Published under Cement NewsCRH, the 4th largest Construction company by market capitalisation in the Global ADR market, dipped 10.0 cents (or 0.4%) to close at US$26.02. Compared with the The Bank of New York Mellon Composite ADR index, which fell 2.5 points (or 1.8%) on the day, this was a relative price change of 1.4%. The aggregate volume was 3.6 times average trading of 191,025 ADRs. Price Change % 1-day 1-month 1-year CRH -0.4% -11.3% ... |
Cemex falls 3.5% on high volume falling for a third consecutive day, a three day fall of 6.8%20 November 2009, Published under Cement NewsCemex fell 41.0 cents (or 3.5%) on high volume to close at US$11.18. Compared with the The Bank of New York Mellon Composite ADR index, which fell 2.5 points (or 1.8%) on the day, this was a relative price change of -1.7%. The ADR fell for a third day on Thursday bringing its three-day fall to 81.0 cents or 6.8%. Price Change % 3-day 1-month 1-year CX -6.8% -15.4% 144.1% The Bank of New York Mellon Composite ADR ... |
TXI Declares Quarterly Dividend19 November 2009, Published under Cement NewsThe Board of Directors of Texas Industries, Inc today declared a cash dividend of $.075 per common share payable December 7, 2009 to shareholders of record November 27, 2009. TXI is the largest producer of cement in Texas and a major cement producer in California. TXI is also a major supplier of construction aggregate, ready-mix concrete and concrete products. |
Vicat Sagar Cement plant to tie up fund by January19 November 2009, Published under Cement NewsVicat Sagar Cement Limited (VSCL), a 51: 49 per cent joint venture between France-based Vicat and Hyderabad-based Sagar Cements, is all set to achieve financial closure for Phase I of the Rs 2,500-crore project by January 2010. “Due diligence of the project has been completed and we expect to achieve financial closure by the first week of January. We will also start construction of the plant in the same month,” Sagar Cements executive director, S Sreekanth Reddy, told Business Standard, add... |
KHD posts 3Q decline17 November 2009, Published under Cement NewsPlant engineering and equipment supply firm KHD Humboldt Wedag International Ltd. said Monday its profit fell in the third quarter because of soft sales and restructuring charges. Profit declined 76 percent to $7.5 million, or 25 cents per share, from $30.8 million, or $1.01 per share, in the same period last year. The latest quarter included 25 cents per share in restructuring charges. Revenue declined 23 percent to $148.2 million from $193.6 million. Chief Executive Jouni Salo said the... |
PPC Cut to ‘Hold’ From ‘Buy’ at Deutsche Bank on weak outlook12 November 2009, Published under Cement NewsPretoria Portland Cement Ltd., Africa’s biggest manufacturer of the building material, was cut to “hold” from “buy” at Deutsche Bank AG, which said it expects a “much weaker outlook” for the company over the short- to medium-term. |