Cement News tagged under: corporate
Cemex seen posting a drop in 3Q net profit27 October 2009, Published under Cement NewsCemex is expected to report a fall in net profit for the third quarter on Tuesday, as U.S. and European cement demand remains weak, but the company could be close to pulling out of its slump. A Reuters poll of seven analysts showed Cemex, may have earned US$182m between July and September of this year. Cemex’s expected profit would be nine per cent below the US$200m recorded for the same quarter of 2008. "Cemex’s results will still show a severe fall year-on-year but we hope to see a slig... |
Oman’s Raysut Cement Q3 profit rises 22.9 per cent26 October 2009, Published under Cement NewsOman’s Raysut Cement reported a 22.9 per cent rise in third-quarter profit on Sunday, amid increased foreign competition and lower cement output. The company made a profit of OMR6.88m (US$16.44m), according to Reuters calculations. It earned profit of OMR5.6m in the prior-year period. Raysut said competition from outside Oman put pressure on sales volume in the third quarter. Lower margins from the sale of imported cement and lower cement production also hit profits. "The cement industry ... |
RS Lodha’s son is now Birla Corp chairman26 October 2009, Published under Cement NewsHarsh Vardhan Lodha has been appointed the chairman of Birla Corp "unanimously" by the board of directors, a company statement said here Friday. Harsh Vardhan Lodha, son of the late chairman R.S. Lodha, served the company as the director till now. R.S. Lodha was the disputed beneficiary of the M.P. Birla group chairperson Priyamvada Birla’s will that bequeathed the entire assets of the group to him. |
Binani Cement to mobilise funds for China operations26 October 2009, Published under Cement NewsProject Today reported that Binani Cement Ltd is likely to raise US$30m via a bond issue by January 2010 to fund China operations. As per report the proceeds are likely to be used to finance the expansion of the company’s Chinese operations. Shandong Binani Rong’ An Cement Company of China a BCL subsidiary is expanding its manufacturing capacity from 0.5Mt to 3Mt at an estimated cost of INR600 crore. Currently, the land acquisition, project design and engineering works are on. The plant is... |
Chettinad Cement Corp net up by 30 per cent for September quarter23 October 2009, Published under Cement NewsChettinad Cement Corporation announced a substantial rise in standalone net profit for the quarter ended September 2009. During the quarter, the profit of the company rose 30.24 per cent to INR 444.90m from INR341.60m in the same quarter previous year. Net sales for the quarter for the quarter rose 29.94% to INR3647.40m, while total income for the quarter rose 30.25 per cent to INR3665.20m, when compared with the prior year period. It reported earnings of INR15.08 a share during the quarter... |
JK Cement Board to consider Interim Dividend for 2009-1023 October 2009, Published under Cement NewsJK Cement Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 31, 2009, inter alia, to consider approve and take on record un-audited Financial Results of the Company for the Quarter and Six months ended on September 30, 2009 and also to consider declaration of Interim Dividend on Equity Shares of the Company for the Financial Year 2009-10 and also fix the record date for the same. The stock closed the day at INR125.80, down by INR2.20 or 1.72 p... |
West China Cement eyes Hong Kong23 October 2009, Published under Cement NewsChinese cement producer West China Cement proposes to list its shares in Hong Kong and will review its AIM listing. Based in China’s Shaanxi province, West China believes it will be ‘better positioned and understood’ in Hong Kong than on AIM, says chairman Robbe Robertson. Observers suggest the Jersey-domiciled company might hope for more active trading and a higher rating on the Far Eastern exchange, which has lately been considered by several China plays from London. West China, which do... |
Prism Cement Equity Shareholders to approve scheme of amalgamation23 October 2009, Published under Cement NewsPrism Cement Ltd has announced that by an Order passed on October 06, 2009, the Hon’ble Andhra Pradesh High Court has directed that a meeting of the equity shareholders of the Company, will be convened and held on November 17, 2009, for the purpose of considering and if thought fit, approving with or without modification(s), the Scheme of Amalgamation between H. & R. Johnson (India) Ltd. ("Transferor Company No. 1") and RMC Readymix (India) Pvt. Ltd. ("Transferor Company No. 2") with Prism C... |
Lafarge’s Nigerian unit Q3 pretax profit drops 21 per cent23 October 2009, Published under Cement NewsLafarge Cement WAPCO , the Nigerian unit of the world’s biggest cement maker Lafarge, said on Thursday its third-quarter pretax profit fell 21.35 per cent to 7.09bn naira (US$47.76m) from the previous year. The company’s turnover for the three months to Sept. 30 rose 9.88 per cent YoY to 35.09bn naira. |
Wishing on a Texas star23 October 2009, Published under Cement NewsTexas Industries annual meeting held in Dallas on October 22 looks set to see the Disney family investment firm Shamrock Holdings, replace three incumbent TXI directors with its own appointees. The Dallas-based cement producer is the largest in Texas and has a major presence in California with two major plants in Oro Grande, near Victorville, and Riverside. Although the official results won’t be released until next week, Shamrock executives said the early returns showed that their company... |