Cement News tagged under: corporate
HeidelbergCement declines to comment on takeover rumours30 October 2008, Published under Cement NewsHeidelbergCement has declined to comment on rumours that German entrepreneur Adolf Merckle might carry out a complete takeover of the company. The company’s share price gained 10.7 per cent, nonetheless. According to stock market sources, the speculation has been fuelled by recent purchases of HeidelbergCement shares by Mr Merckle’s asset management company, VEM. |
Saudi Cement Co 9-mo net profit down to USD 130.6m30 October 2008, Published under Cement NewsThe net profit of Saudi cement producer, Saudi Cement Company (SCC) dropped to SAR489.6m (US$130.6m) for the first nine months of 2008 from SAR517m in the same period of 2007, equal to a decrease of 5.5%, the company said in a filing to the Saudi Stock Exchange on Saturday. SCC attributed the decrease to lower exports and higher prices of raw materials. The earnings per share (EPS) stood at SAR 5.08 for January to September 2008, down from SAR 5.08 a year ago. The company reported a 5% ye... |
Pakistan’s DG Khan Cement 1Q loss29 October 2008, Published under Cement NewsDG Khan Cement Ltd., Pakistan’s second-biggest producer of the building material, reported a first-quarter loss because of higher loan costs. The net loss was PKR223m ($2.7m), or 0.88 rupee a share, in the quarter ended September 30 compared with a profit of PKR267.9m, or 1.06 rupees, a year earlier, the Lahore-based company said in a statement to the Karachi Stock Exchange today. Sales rose to PKR4.41bns, from PKR2.23bn. Pakistani cement makers have taken loans to expand capacity over the... |
ACC: Low demand, high costs29 October 2008, Published under Cement NewsAccording to reports from India’s Business Standard newspaper, management at the Rs 7,067-crore ACC believes that the economic environment is turning unfavourable as growth of cement consumption in the coming months, particularly in housing and infrastructure sector, may decline. Demand figures have already been lowered; earlier estimates of 9-10 per cent demand growth has been adjusted to seven per cent. Industry watchers believe that a surplus amount of around 10Mt of cement would be in t... |
Cementir Holding SpA Substantial shareholder buys28 October 2008, Published under Cement NewsCementir Holding SpA substantial shareholder Chupas 2007 Srl bought 16,903 shares worth Euro44,531 on October 16, 2008. The last price was Euro2.63. The share price dropped 10.25 Eurocents (or 4.5%) to Euro2.20. The stock fell for a fourth consecutive day on Monday bringing its four day fall to 48.0 Eurocents or 17.9%. |
Buzzi Unicem SpA director buys shares28 October 2008, Published under Cement NewsBuzzi Unicem SpA director Alvaro Di Stefano bought 4,500 shares worth Euro38,128 on October 17, 2008. The last price was Euro8.47. The share price dropped 40.0 Eurocents (or 4.5%) to Euro8.55. Compared with the MIBTEL Index which fell 538.0 points (or 3.5%) on the day, this represented a relative price change of -1.0%. |
Thailand’s TPI Polene (TPIPL): 3Q08 results27 October 2008, Published under Cement NewsTPIPL reported 3Q08 earnings of Bt576mn, up 28.1% YoY and turning from a loss of Bt6.8bn in 2Q08. Its normalised profit was Bt567mn, up 10.2% YoY but down 6.6% QoQ. The result was 5.0% below the market’s expectation. The improvement YoY was backed by the increase in the selling price of cement offsetting lower sales volume, and improved chemical earnings. Meanwhile, the drop in normalized profit QoQ was due to higher tax expenses (effective tax rate of 22.0% in 3Q08 versus no tax expenses i... |
Saudi Cement Q3 profit down 9.2 per cent27 October 2008, Published under Cement NewsSaudi Cement Company, Saudi Arabia’s largest cement producer, said third-quarter profit fell 9.2 per cent to miss analysts’ forecasts, due to a decline in export revenues and increase in production costs. Saudi Cement made a net profit of SAR144.7m in the three months to September 30 against SAR159.4m in the year-earlier period, it said in a statement on the Saudi bourse website. Nine month profit fell to SAR489.6m compared to SAR517.9m in the same period of last year. Analysts’ forecasts... |
St. Marys Charlevoix plant to lay off 80 as of Dec. 127 October 2008, Published under Cement NewsSt. Marys Cement Plant in Charlevoix announced Thursday that it would be laying off about 80 percent of its hourly workforce by Dec 1. The plant currently employs 100 hourly and 27 salary workers. Steve Gallagher, vice president of human resources for St. Marys Cement Group, said their corporation anticipates the lay-off will last for one month. “This is a temporary lay-off,” he said. “We anticipate in early January we’ll start bringing people back — we’ll be bringing back most if not all... |
Export ban bites into Saudi cement firms Q3 profits23 October 2008, Published under Cement NewsSaudi Arabia’s largest cement firm by market value on Wednesday blamed a near-25 per cent in third-quarter profit on an export ban amid signs that a construction slowdown is taking its toll on local cement makers. Southern Province Cement Co made SAR149m in (US$39.73m) the three months to Sept. 30, down from SAR198m in the year-earlier period, it said in a statement on the bourse website. "The decline is due ... to a drop in sales as a result of halt in exports and an increase in costs due... |