Cement News tagged under: corporate
Titan may sell stake in Egyptian plant20 October 2009, Published under Cement NewsTitan, Greece’s biggest cement maker, is considering selling a minority stake in its Egyptian business, as it struggles to cut debt and contain costs in the downturn. ’Reaching a relevant agreement will greatly depend on the level of the offered consideration and the capacity of any potential minority shareholder to add value,’ Titan said on Monday. Titan runs two cement plants in Egypt, Titan’s fastest growing market. Contrary to a building slump in Titan’s main markets, Greece and the Un... |
Saudi Arabia: Eastern Province Cement Co dips 0.4 per cent on low volume19 October 2009, Published under Cement NewsEastern Province Cement Company, Saudi Arabia’s 6th largest construction company by market capitalisation, dipped 20.0 hallalah (or 0.4 per cent) to close at SAR47.20. Compared with the All Share index (TASI), which fell 49 points (or 0.8 per cent) on the day, this was a relative price change of 0.3 per cent. The volume was 0.3 times average trading of 130,888 shares. |
Qatar’s QNCC Q3 profit rises marginally19 October 2009, Published under Cement NewsQatar National Cement Co Monday posted a one per cent rise in third-quarter 2009 net profit to 69.9m Qatari riyals (US$19.2m) over the year earlier period. In a statement on the Doha bourse website, the company said nine-month profit rose to QAR323.2m (US$88.7m)from QAR320.9m (US$87.8m) a year earlier. First-half net profit for 2009 was QAR253.3m, while third-quarter net profit in 2008 was QAR69.1m, according to Zawya Dow Jones data. The company said nine-month earnings per s... |
Saudi Arabia: Yanbu Cement Co strengthens above Moving Average Price (MAP); 50-day MAP outperforms 200-day MAP19 October 2009, Published under Cement NewsYanbu Cement, Saudi Arabia’s 5th largest construction company by market capitalisation, has strengthened above its trend. The 200-day moving average price (MAP) was SAR47.40. The price to 200-day MAP ratio is 1.11, a bullish indicator. In the past 200 days this ratio has exceeded 1.11 44 times suggesting further upside. The stock is trading above both its MAPs and the 50-day MAP of SAR52.22 is higher than the 200-day MAP of SAR47.40, a bullish indicator. The 200-day MAP has increased to... |
India: Jaiprakash Associates: Invest for 1-2 years19 October 2009, Published under Cement NewsJaiprakash Associates Ltd (JAL) has come out with an attractive fixed deposit scheme this festival season. Investors with high risk-appetite and looking for debt avenues have an opportunity to lock into the JAL’s fixed deposits. These FDs are offering a pre-tax yield of as much as 12.6 per cent (three years). Senior citizens and the shareholders (at least 100 shares) of Jaiprakash Associates get an additional 0.5 percentage point over the coupon rates. However, investors have to tak... |
India: UltraTech Cement Q2 profit rises 53 per cent to INR251cr19 October 2009, Published under Cement NewsAditya Birla Group company UltraTech Cement on Friday reported a profit after tax of INR251 crore (US$5.4m) for the second quarter of this fiscal, a rise of 53 per cent over that in the same period last year. Net sales of the cement maker increased to INR1541 crore in the latest quarter from INR1396 crore of the corresponding quarter last year, UltraTech Cement said in a statement to the Bombay Stock Exchange (BSE). Cement production of the company was higher by 12 per cent... |
Cemex falls 3.8 per cent on high volume falling for a second consecutive day, a two day fall of 4.3 per cent19 October 2009, Published under Cement NewsCemex fell 53.0 cents (or 3.8 per cent) on high volume to close at US$13.32. Compared with the The Bank of New York Mellon Composite ADR index, which fell 1.7 points (or 1.2 per cent) on the day, this was a relative price change of -2.6 per cent. The ADR fell for a second day on Friday bringing its two-day fall to 60.0 cents or 4.3 per cent. |
Lafarge hits year-high 1st time in three months October 16, 200919 October 2009, Published under Cement NewsLafarge, the 18th largest company by market capitalisation in the CAC 40 index, hit a 52-week high of Euro66.59 during the day, but closed lower at Euro64.74. In the last three months the stock has hit a new 52-week high once. The stock price dipped 63.0 cent (or one per cent) to close at Euro64.74, ending a two-day streak of rises. Compared with the Dow Jones Industrials, which rose 47.1 points (or 0.5 per cent) on the day, this was a relative price change of -1.4 per cent. |
HeidelbergCement doubles up15 October 2009, Published under Cement NewsHeidelbergCement AG, the German cement maker, raised more than double the amount it initially sought in the year’s biggest sale of junk bonds in euros, reports Bloomberg. The company sold EUR2.5bn (US$3.7bn) of five-, seven- and 10-year notes, according to data compiled by Bloomberg. The Mannheim, Germany-based company originally said it would raise at least EUR1bn from five- and seven- year debt. “The deal just shows you how strong the market is right now,” said Tatjana Greil Castro, who... |
Siberian Cement Holding shareholding to change, Russia15 October 2009, Published under Cement NewsTwo minorities of Siberian Cement Holding – one of the cement holding founders, Andrey Muravyev and the former President, Vladimir Anokhin – are pulling out from the company. Muravyev is finalising a deal to sell a 13% stake in the holding. Anokhin has sold nearly all his stake (3-4%), keeping several stocks. Currently the holding’s major shareholders are O. Sharykin, and Andrey Kirikov who holds a 12% stake, Kommersant reports. |