Cement News tagged under: corporate
Tomson to sell 25% stake in cement unit30 September 2008, Published under Cement NewsTomson Group’s unit has put up 25 per cnet stake in Shanghai Tomson Guojian Concrete Co., Ltd. for sale at the Shanghai United Assets and Equity Exchange, sources reported. The listing price is RMB 3.47m. Tomson Group didn’t specify the reason for the sale. But the company denied it is because of the sharp fall in its net profit in the first six months of this year since Guojian Concrete only accounts for a small part of the Group’s business. According to Tomson’s interim report, its pre-t... |
Binani Cement to raise US$90m30 September 2008, Published under Cement NewsBinani Cement has revealed that the company is proposing to raise US$90m through International debt by March 2009 to increase its manufacturing capacities to twofold in China and Dubai by fiscal 2010. The source close to the company said that Binani Cement is looking at building grinding units in Africa. According to the reports, the proposed grinding unit would have an annual capacity of 1Mt and would entail an investment of approximately US$80-85m. The reports also revealed that company... |
Siberian Cement Holding puts off Turkish assets deal29 September 2008, Published under Cement NewsOn September 25, 2008 Siberian Cement Holding was to close the deal on acquisition of Italcementi Group - Set Group, comprising four Turkish cement and several concrete plants with freight terminals in the ports of Ambarli and Instanbul. However, Italcementi reported that the deal had been put off till October 20, 2008, citing no relevant reason for the delay. To remind, the Turkish company asked EUR600mln for its assets, Vedomosti reports. |
Binani Cement to raise US$90m for expansion29 September 2008, Published under Cement NewsBinani Cement Ltd plans to raise US$90m through overseas debt by next March to double its manufacturing capacities in China and Dubai by 2010, Managing Director Vinod Juneja told Reuters on Friday. At present, both units have 1 million tonnes per annum of manufacturing capacity each. "We are thinking to raise funds overseas to meet our China and Dubai expansion plans," he said. The company was also seriously looking at setting up grinding units in Africa, he added. "It coul... |
Taiheiyo Cement seen missing FY08 profit target29 September 2008, Published under Cement NewsAnalysts’ net profit projection for Taiheiyo Cement Corp for the current fiscal year is 64% lower than the firm’s own projection, the largest discrepancy among firms in a Nikkei study. Taiheiyo Cement predicts that net profit will fall 51% on the year to 10 billion yen in fiscal 2008. But analysts project a drop of more than 80% to 3.6 billion yen on a continued slump in demand for condominiums in Japan due to tougher building standards and an economic slowdown. Weak housing dema... |
Unye to participate in capital increase of Unye Cemento26 September 2008, Published under Cement NewsCement producer Unye Cimento informs that it will participate in the capital increase of its subsidiary Unye Cem Srl, based in Romania. The statement issued to the Istanbul Stock Exchange by Unye Cimento notes that Unye Cem Srl will lift its capital to EUR 9.15mn from EUR 5m. Unye Cimento will contribute to the capital increase with EUR 4.15m. |
Unye to participate in capital increase of Unye Cemento26 September 2008, Published under Cement NewsCement producer Unye Cimento informs that it will participate in the capital increase of its subsidiary Unye Cem Srl, based in Romania. The statement issued to the Istanbul Stock Exchange by Unye Cimento notes that Unye Cem Srl will lift its capital to EUR 9.15mn from EUR 5m. Unye Cimento will contribute to the capital increase with EUR 4.15m. |
Southeast Asia cement declines in Manila on competition outlook25 September 2008, Published under Cement NewsSoutheast Asia Cement Holdings Inc. fell the most in eight months in Manila trading on concern a government plan to remove tariffs on the construction material will boost imports and squeeze margins. Seacem, as the nation’s third-largest cement producer by value is known, sank 6.7 per cent to 70 centavos at 9:59 a.m. local time, the biggest decline since Jan. 22. Filinvest Land Inc, the nation’s fourth-biggest builder by value, led developers higher on speculation scrapping the tariffs on i... |
Mexican, Brazilian stocks down as US bailout Is debated24 September 2008, Published under Cement NewsMexican equities fell Monday, with investors cautiously assessing the US government proposal seeking to end to the financial crisis that has gripped the global credit markets (reports Dow Jones newswires). In Mexico City, the IPC dropped 1.5% to 25,323.40. Cemex shares fell 2.4%. Zacks Investment Research analyst Claudio Freitas kept a sell rating on the cement maker, citing the company’s weak quarterly results and continued weak cement volumes in Spain, the US and Mexican markets. "We beli... |
Mexican stocks fall23 September 2008, Published under Cement NewsMexican stocks fell sharply on Monday on concerns a costly US bailout plan for troubled financial institutions may not resuscitate a slumping economy and surging oil prices added to worries about growth. The benchmark IPC stock index closed 2.21 percent lower at 25,131.91 points. The peso firmed 0.4 per cent as the greenback declined broadly on worries the credit bailout would bloat the already massive U.S. deficit. The proposal would amount to the costliest US bailout for financial compan... |