Cement News tagged under: corporate
PPC announces two executive appointments23 October 2008, Published under Cement NewsPPC announces the appointment of Kgathola Ngoasheng as Executive: Supply Chain Services to succeed Kevin Odendaal. It also announces the appointment of Kevin Odendaal as Executive: Investor Relations and Strategy. The establishment of this new role is a further step in PPC’s stated intent to continually enhance its stakeholder value and relationships, said the company in a statement. |
Cementir Holding SpA director buys shares23 October 2008, Published under Cement NewsCementir Holding SpA director Riccardo Nicolini bought 2,665 shares worth Euro6,742 on October 17, 2008. The last price was Euro2.53. The share price dropped 11.25 Eurocents (or 4.2%) to Euro2.56, ending a two-day streak of rises. |
Egypt’s South Valley Cement plans rights issue22 October 2008, Published under Cement NewsEgypt’s South Valley Cement said on Tuesday it planned to increase its capital by roughly E£518m ($93m) through a rights issue. The company said in a statement issued through the stock exchange that it would offer 103.5 million shares to shareholders at E£5 per share. The increase would raise the firm’s total shares to 517.6 million. |
TXI shareholder gains clout in boardroom battle22 October 2008, Published under Cement NewsTexas Industries Inc.’s largest shareholder apparently won support Tuesday in his battle against company management, as shareholders in large numbers withheld their votes from two board members up for re-election. For three weeks, Egyptian billionaire Nassef Sawiris has called on other shareholders to use the vote to express dissatisfaction with the Dallas-based cement maker’s performance. Since there were no other nominees to the board seats, a vote withholding support was seen as the way... |
Asia Cement net profit up 64% to RMB301m22 October 2008, Published under Cement NewsAsia Cement today announced its unaudited third quarter results for the nine months ended 30 September 2008. In the period under review, the Group recorded a revenue of approximately RMB2,201.4m, representing an increase of 46% over the corresponding period in the previous year. The strong growth was attributable to the increase in average selling prices of the Group’s products and enhanced production capacity. Net profit was increased by 64% to approximately RMB301m while the gross margin ... |
Siam Cement Q3 net profit down 21 per cent22 October 2008, Published under Cement NewsSiam Cement PCL (SCC), Thailand’s biggest industrial conglomerate, reported a worse-than-expected 21 per cent fall in quarterly net profit on Wednesday as a weak economy undermined cement demand. Siam Cement’s near-term outlook is weak due to declining cement demand and a flood of new supply from petrochemical plants from 2009, analysts said. The Bank of Thailand cut its 2008 economic growth forecast last week to a 4.3-5 per cent range from 4.8-5.8 per cent, citing the impact of the global... |
Go for cement cos with focus on South, West India?21 October 2008, Published under Cement NewsAccording to a report by the Economic Times of India, a clear pattern is evident in terms of cement market trends, if one goes by the results declared by cement companies. Companies with a strong focus on southern and western markets stand to gain and should be the stocks investors should pick, say analysts. Results declared by UltraTech and JK Lakshmi reflect just that. Analysts point out that stocks with a distinct focus on southern and western markets like India Cement, Madras Cements an... |
West China Cement announces new finance director21 October 2008, Published under Cement NewsWest China Cement Ltd said it has appointed Po Ling Low as finance director with immediate effect. Low succeeds Zhenzun Tian as finance director, the company said, adding this will enable Tian to focus on his other functions where he is responsible for the company’s Lantian business, which is its largest operation. |
Indonesia: Bosowa to name strategic partner in 1Q0921 October 2008, Published under Cement NewsPT Semen Bosowa expects to get an investor to become its strategic partner in the first quarter in 2009 to develop the company, its chief executive officer, Erwin Aksa, said Monday. "It is hoped there will already be an investor to join in the company in the first quarter of 2009," he said. The cement company based in South Sulawesi is currently needing funds to increase its production capacity. The company actually already plans to conduct an Initial Public Offering as one of the options... |
Siam Cement: healthy 3Q08, but higher risks going forward21 October 2008, Published under Cement NewsThailand’s Siam Cement’s 3Q08 net profit is expected to fall 19% YoY and 15% QoQ to Bt6.09bn. Excluding the divestment gain booked in 3Q07, core profit should grow 8% YoY due to better margins at most business units. Meanwhile, lower QoQ profit would be attributable to weak cement demand and the absence of dividend income, while HDPE and PP spreads remained strong and its paper business margin has improved. 3Q08 net profit is expected to be better than our earlier expectation due to strong ... |