Cement News tagged under: corporate
New capacity ’key to Lafarge India plans’14 July 2009, Published under Cement NewsLafarge is planning to nearly double the revenue contribution of its Indian subsidiary to 8% over the next three-five years, said a senior executive of Lafarge India Ltd. The Indian outfit will acquire other firms and build new plants to meet the target. “The growth in India will be a combination of fresh capacities and acquisitions, and we will follow a multi-product strategy to get closer to the customer,” said Uday Khanna, managing director and chief executive of Lafarge India. The fir... |
Sunway declines comment on HeidelbergCement buy13 July 2009, Published under Cement NewsSunway Holdings Bhd has declined comment on talk that the company is bidding to acquire the local concrete plants, quarries and asphalt factories owned by HeidelbergCement AG. Executive chairman Tan Sri Cheah Fook Ling would only say the company was not yet sure whether to acquire the factories. It was reported that Sunway was interested in acquiring these assets when the indicative selling price was US$200m (MYR717.4m) but might pull out from the bid after the price was raised to US$250m.... |
Southern Cement 2Q net falls 7.8% , Saudi Arabia13 July 2009, Published under Cement NewsSouthern Cement made a net profit of SAR212m ($56.53m) in the three months to June 30, down from SAR230.5m in the year-earlier period, it said in a statement on the Saudi bourse website. The company also blamed higher costs for maintenance apart from a lower yield from a murabaha, an Islamic finance tool, the firm said. It also said it would pay a first-half dividend of SAR2.5 for each share. Southern Cement said last month it may freeze expansion plans due to the year-long export ban tha... |
Qassim Cement mulls 100 per cent bonus shares13 July 2009, Published under Cement NewsThe Qassim Cement Company of Saudi Arabia is planing to offer shareholders one bonus share for each existing one to raise its paid-up capital to SAR900m (US$240m) from SAR450m. Southern Province Cement Co, Saudi Arabia’s largest cement maker by market value, said second-quarter earnings fell 7.8 per cent, blaming an export ban that has hit producers in the largest Arab economy. |
Prosperity Minerals FY Pretax profit US$7.7m vs US$59.3m09 July 2009, Published under Cement NewsProsperity Minerals Holdings Ltd said Thursday that for the year ended March 31, it made a pretax profit of $7.7 million compared with a profit of $59.3 million in the previous year. MAIN FACTS: -28% increase in revenue to $647.7 million (2008: $507.5 million) -43% decrease in EBITDA to $44.3 million (2008: $77.7 million) -54% decrease in operating profit to $21.6 million (2008: $47.1 million) -73% decrease in adjusted profit before tax to $15.9 million (2008: $59.3 million) adjusted fo... |
Holcim successfully places a CHF1bn bond09 July 2009, Published under Cement NewsHolcim Ltd has issued a CHF 1 billion bond with a coupon of four per cent and a tenor of four years and five months. The proceeds will be used to refinance existing debt and for general corporate purposes. The bond will lengthen the average maturity of financial liabilities. The Holcim Group has refinanced around CHF3.8bn in 2009 in local bank and capital markets and successfully maintained its liquidity above the target of CHF5.3bn (cash and unused committed credit lines). Holcim Ltd is r... |
Hanson may list local unit on Australian Exchange09 July 2009, Published under Cement NewsHanson Ltd may list its local unit on the Australian stock exchange, the Australian Financial Review reported. The listing may occur later this year or in early 2010, with HeidelbergCement AG to retain a 50.1 per cent stake, the newspaper said in its Street Talk Column. Deutsche Bank AG has been appointed by HeidelbergCement to conduct an asset review to help pay down debt, the newspaper reported. Hanson Australia has been valued at as much as A$2.7bn (US$2.1bn) by analysts, the Review sai... |
Holcim sees difficult outlook for 200908 July 2009, Published under Cement NewsHolcim said 2009 would remain difficult with demand still weak in the United States, Spain and Eastern Europe but emerging markets helping to slow a decline in earnings. Holcim, which is tapping shareholders for fresh funds to buy the Australian business of Cemex for A$2.02bn, also said the gross proceeds from its capital hike would be SwFr2.1bn (US$1.9bn). The subscription price for the hike, announced last month, is 42 francs per share, at a 28 percent discount to the closing price of 58.... |
Siberian Cement Holding new President07 July 2009, Published under Cement NewsSiberian Cement Holding has announced the appointment of Georg Kleger as a new holding’s President with effect from July 6, 2009, the company’s press service said. |
Yanbu Cement Q2 net hits US$40.2m07 July 2009, Published under Cement NewsSaudi-based Yanbu Cement Company has posted a net profit of SR151m (US$40.27m) in the three months to June 30, when compared to SR149m (US$39.7m) a year earlier. In a statement on Saudi bourse website on Monday, Yanbu said its second quarter net profit rose 1.3 per cent. Yanbu gave no reason for the quarterly decline, saying only a 4.7 percent fall in first-half net profit to SR317m was due to lower sales. Yanbu Cement plans to spend SR1.5bn to raise its production capacity by 48 per cent ... |