Cement News tagged under: corporate
Holcim’s Weijde named new CEO of Ambuja Cements28 July 2009, Published under Cement NewsAmbuja Cements Ltd (ACL), India’s second largest cement maker, will get a new chief executive officer (CEO) from 1 May 2010. Four years after Holcim Ltd acquired management control of ACL from Satyanarayan Seksaria, Holcim executive Onne Van Der Weijde will take over as CEO of the company. Weijde, who has been a board member of both ACL and ACC Ltd, will replace the current managing director of ACL, Amrit L Kapur, who had worked with the founder chairman Seksaria, now vice-chairman of AC... |
China National Materials Co to sell bonds27 July 2009, Published under Cement NewsChina National Materials Co said on Monday that it has won approval from China’s securities regulator to issue up to CNY2.5 bn (US$366m) of bonds, becoming the first Hong Kong-listed company to sell bonds on the mainland. The seven-year bonds, with an indicative coupon between 4.90 and 5.40 percent, will be sold from Wednesday and comprise a retail tranche of 10 percent of the issue plus an institutional tranche of 90 per cent, the cement equipment and construction firm said in a statement... |
CRH offers to buy back $100m of bond debt27 July 2009, Published under Cement NewsCRH Plc is offering to buy back as much as US$100m (€70m) of 6.4pc bonds due 2033 issued by subsidiary CRH America Inc. Holders of the bond will receive 88pc to 95pc of the notes’ principal amount, CRH said today in a statement. The company is also offering an extra 3pc to investors who accept the proposal before 5pm, New York time, on August 10. The tender period will end at 11:59pm, New York time, on August 21. CRH has hired JPMorgan Securities to serve as manager for the tender offer a... |
Qatar National Cement first-half profit26 July 2009, Published under Cement NewsQatar National Cement Co, a producer of materials for the construction industry, said first- half profit rose less than one per cent. Net income climbed to 253.3 million riyals ($70 million) from 251.9 million in the year-earlier period, according to a statement released on the Qatar bourse today. |
Raysut Cement 2Q profit up nine per cent23 July 2009, Published under Cement NewsOman’s Raysut Cement Company reported on Wednesday profit of OMR9.46m (US$24.56m) in the second quarter, up 8.99 per cent from the year-earlier period. The company had profit of OMR17.3m before tax in the six months ended June 30, compared with OMR20.53m a year ago, it said in a statement on the bourse website, without giving a quarterly figure. |
TPI Polene upbeat on 2009 earnings, Thailand23 July 2009, Published under Cement NewsTPI Polene PCL , Thailand’s third-largest cement maker, said on Thursday it expected debt restructuring gains and dividend income to boost earnings in the third quarter and full-year 2009. "Our third-quarter earnings will be much higher than last year’s because of gains from debt restructuring," Chief Executive Officer Prachai Leophairatana told Reuters. The company posted a net profit of THB566m (US$16.7m) in the third quarter of last year. "We also see full-year net profit exceeding ... |
Lafarge falls on lower guidance talk23 July 2009, Published under Cement NewsLafarge falls 2.7 per cent on market talk that the company may revise its sales forecast lower, traders say. "(There is a) rumour doing the rounds (on) Lafarge that they will guide lower" says one London-based trader. A spokewoman for Lafarge declines to comment on the rumour. "Lafarge rumour warning, that’s what’s dragging the stock," says a Paris-based trader. Earlier this month, Lafarge said it may revise its forecast for global cement sales in 2009 when it publishes interim results ... |
Cimentas to buy 70% of waste company21 July 2009, Published under Cement NewsTurkish cement producer Cimentas is set to buy a 70% stake in a waste company, namely Serhat Atik. The statement issued by Cimentas details that the company will pay a total of EUR10.76m for the 70% stake in Serhat Atik. Cimentas will pay the price in three years and the process for acquisition of Serhat Atik shares is expected to be completed within two or three months. |
Arabian Cement Q2 net profit drops 8.6%21 July 2009, Published under Cement NewsSaudi’’s Arabian Cement Co posted on Monday an 8.6 per cent decline in net profit for the second-quarter, in line with a trend of declining profits by Saudi cement companies due to a year-long export ban. Arabian Cement made a net profit of SAR82.6m (US$22.03m) in the three months to June 30, compared to SAR90.4m a year earlier, it said in a statement posted on the Saudi bourse website. "The reason for the decline in profits ... is due to the rise in operational costs and the funding for s... |
Moody’s cuts to "negative" outlook on Italcementi’s Baa2 rating21 July 2009, Published under Cement NewsCredit rating agency Moody’s lowered today its outlook on the Baa2 issuer rating of Italian cement maker Italcementi SpA to "negative" from "stable". Moody’s also cut to Baa2 from Baa1 its rating on Italcementi’s French subsidiary Ciments Francais with a "negative" outlook. On the Milan Stock Exchange, Italcementi shares were gaining 1.41% to EUR 8.285 at 1256 CET on Monday. |