Cement News tagged under: corporate
Yamama and Tabuk cement saw Q4 profits fall19 January 2009, Published under Cement NewsTwo Saudi Arabian cement producers profit fell in the fourth quarter of 2008 on lower sales volumes following a government decision to ban exports, according to reports from Reuters. As per report, Yamama Cement Company saw net income in the fourth quarter dropped 33% to SAR 85.1m from SAR 126.9m in the corresponding period last year. Yamama said in a statement that the reason for the decline is on lower sales volumes due to the decision to ban cement export as well as the periodic mainten... |
FLSmidth to announce reduction in workforce19 January 2009, Published under Cement NewsDespite a historically high order backlog FLSmidth has said in a statement that it considers it necessary to proactively reduce its workforce in order to create the necessary flexibility and be better prepared for future uncertainties in its markets. This comes announcement comes on the back of the global economic downturn which has resulted in a continuing declining level of investments in both the cement and minerals industries. The reduction in workforce is expected to primarily affect FL... |
FLSmidth to announce reduction in workforce19 January 2009, Published under Cement NewsDespite a historically high order backlog FLSmidth has said in a statement that it considers it necessary to proactively reduce its workforce in order to create the necessary flexibility and be better prepared for future uncertainties in its markets. This comes announcement comes on the back of the global economic downturn which has resulted in a continuing declining level of investments in both the cement and minerals industries. The reduction in workforce is expected to primarily affect FL... |
Dalmia Cement Board to consider interim dividend for 2008-0916 January 2009, Published under Cement NewsDalmia Cement Bharat Ltd has announced that a meeting of the Board of Directors of the Company will be held on January 28, 2009 inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended on December 31, 2008. To recommend the Interim Dividend, if any, for the year to end on March 31, 2009. To fix the ’record date’ for determining the name of the Members to whom the Interim Dividend shall be paid. |
Siam Cement: net losses likely in 4Q0815 January 2009, Published under Cement NewsSiam Cement (SCC) is expected to book a huge inventory loss of Bt7,000mn following an inventory loss in the petrochemical unit of around Bt6,500mn, which is composed of a petrochemical consolidated inventory loss of around Bt3,500mn from falling ethylene prices, down $819/tonne to $540/tonne and lower propylene prices from $922/tonne to $460/tonne, while inventory was 1.1 months or around 110,000 tonnes, an inventory loss of PVC of around Bt500mn and an inventory loss in petrochemical equity... |
Holcim scales back investements15 January 2009, Published under Cement NewsHolcim said on Thursday it would scale back its 2009 investment plans as it braces itself for tough conditions, though it would benefit from government projects. Maintenance capital expenditure would be cut to SwFr400m (US$358.7m) in 2009 from SwFr1.2bn in the previous year and only projects with short-term payback periods would be approved, the group said in slides prepared for a presentation with analysts. Holcim, also said it would reduce spending on expansion to SwFr2.5bn from SwFr3.5bn... |
Realisation of Semen Gresik loan delayed13 January 2009, Published under Cement NewsThe realisation of dollar-denominated loan worth US$600m by PT Semen Gresik Tbk is delayed from the end of 2008 targeted previously. The company at the moment is still finalizing the loan, which will be used as the company’s working capital for the next four years. "We are still finalizing the dollar-denominated loan," revealed President Director of Semen Gresik Dwi Soetjipto to Bisnis yesterday. On December 19, 2008, Dwi once said two foreign bank consortia were ready to lend US$600 milli... |
Binani Industries receives approval from court for abandoning swap scheme11 January 2009, Published under Cement NewsBinani Industries Ltd has announced with reference to the earlier announcement dated November 18, 2008 regarding Scheme of Arrangement for swap of part of Shares of the Company with the Shares of Binani Cement Ltd and Binani Zinc Ltd, that the Company has received the formal Order abandoning the Swap Scheme from the Hon’ble High Court, Kolkata |
TXI Reports 2Q, delay of Central Texas plant expansion09 January 2009, Published under Cement NewsTexas Industries, Inc today reported financial results for the quarter ended November 30, 2008. Net income was $3.9m ($.14 per share). Net income for the quarter ended November 30, 2007 was $29.3 million ($1.07 per share). TXI also announced the delay of its Central Texas cement plant expansion project, beginning in the May 2009 quarter. "The general economy caught up with the state of Texas this fall," stated Mel Brekhus, Chief Executive Officer. "In Texas, which accounts for approximately... |
CRH purchases shareholding in Yatai Cement, China08 January 2009, Published under Cement NewsCRH plc announces completion of its acquisition of a 26% shareholding in the Jilin Yatai Group’s cement operations (Yatai Cement), for RMB 2.1bn (EUR 224m), details of which were announced on 30 January 2008. Yatai Cement’s operations comprise four integrated cement plants and four separate grinding stations in Jilin and Heilongjiang provinces in north eastern China, with a current cement capacity of 14Mta. The group’s major investment programme is well advanced and is expected to b... |