Cement News tagged under: corporate
PPC: new appointment to the board21 July 2008, Published under Cement NewsThe board of directors of Pretoria Portland Cement Company Limited (PPC) has announced the appointment of Mr. Tim Ross to the board of directors with effect from 17 July 2008. Mr. Ross has been appointed as an independent non-executive director of PPC and also as the chairman of the Audit Committee of the Board. He will replace Mr Shaw who temporarily acted as both the chairman of the Board and the Audit Committee and as a result his appoint... |
Sabanci raises controlling stake in Akcansa to 39.7%21 July 2008, Published under Cement NewsOne of the leading Turkish conglomerates, Sabanci Holding, informed that it purchased Akcansa Cimento Sanayi shares with a nominal value of TRY 14.3m from the group’s insurance unit Aksigorta for a total consideration of TRY 55.96m (EUR 29.4m) at the price of TRY 3.91 per share. |
Shree Cement sees steady margins in FY0921 July 2008, Published under Cement NewsIndia’s Shree Cement expects steady margins in FY09, managing director H.M. Bangur told local press. "A nominal price rise will be there after October but after that expectations of a supply surplus will rule out th0e possibilty of a further price rise," he added. |
Ultratech Cement Q1 net up two per cent21 July 2008, Published under Cement NewsAditya Birla Group company Ultra Tech Cement today announced a net profit of Rs 265.01 crore for the first quarter ended June 30, a 2.17 per cent growth over the corresponding period last year. The firm had a net profit of Rs 259.38 crore in the first quarter of fiscal 2008, Ultra Tech Cement said in a filing to the Bombay Stock Exchange. The increase in imported coal prices from USD 78 per metric tonne to USD 179 year-on-year have resulted in variable costs going up by 19 per cent. The c... |
Siam Cement to post 27% fall in 2Q net profit18 July 2008, Published under Cement NewsSiam Cement PCL, Thailand’s largest industrial conglomerate, is expected to report a 27% fall in second quarter earnings from a year earlier when it had substantial one-time gains from asset sales. The company is forecast to book a net profit of THB6.43bn ($192m) for the April-June quarter, down from THB8.82bn, according to a Dow Jones Newswires poll of nine analysts. Net profit would be flat if a THB2.45 billion gain from the year earlier quarter is excluded, analysts said. "Even thou... |
Kingdom to set up firm with SR20bn capital17 July 2008, Published under Cement NewsSaudi Arabia will set up an investment firm, Sanabil Al-Saudia, as a joint stock company with a capital of SR20bn that will invest in stocks, bonds, real estate, foreign currencies, minerals and commodities. The new firm, which has been approved by the Cabinet, will also manage investment portfolios for other parties, the Saudi Press Agency said. Despite this announcement, the Saudi stock market fell heavily following rout at the global equity markets yesterday. |
Texas Industries Inc: outlook revised17 July 2008, Published under Cement NewsStandard & Poor’s Ratings Services revised its outlook on cement producer Texas Industries Inc. (TXI) to stable from positive. All ratings, including the ’BB-’ corporate credit rating, were affirmed. "The outlook revision reflects our assessment that because of the combination of weakening commercial construction and high energy costs, the company’s operating performance over the next several quarters will be weaker than previously expected," said Standard & Poor’s credit analyst Michael Sc... |
Saudi Cement’s Q2 profit down on export ban16 July 2008, Published under Cement NewsSaudi Cement Co , Saudi Arabia’s largest cement maker by market value, said second-quarter earnings fell 9.4 per cent on a government ban of exports and a rise in costs. Saudi Cement made a net profit of SAR171.6m (US$45.8m) in the three months to June 30, down from SAR189.5min the year-earlier period, it said in a statement on the Saudi bourse website. “The decline in the company’s profit ... is due to a decline in revenues from export sales accompanied by a rise in input costs,” it said... |
BPI analysts say investments in Brazil Positive for Cimpor14 July 2008, Published under Cement NewsPortuguese cement producer Cimpor’s possible investments in Brazil for EUR158.5m (US$250.4m) would be favourable for the company’s stock, if confirmed, Portuguese investment bank BPI said on July 11, 2008. Yesterday Brazilian business daily Valor Economico reported that Cimpor would boost its capacity by raising significantly the output of three of its plants in Brazil and relaunching an old production line by the beginning of 2011. Besides, the company also planned small-sized investments... |
Saudi Yamamah Cement Q2 profit rises14 July 2008, Published under Cement NewsSaudi Arabia’s Yamamah Cement Co said on Sunday second-quarter net profit rose 12.5 per cent on higher sales, beating all analysts’ forecasts. Yamamah, Saudi Arabia’s third-largest cement maker by market value, made a net profit of SAR227.8m (US$60.7m) in the three months to June 30 compared with SAR 202.5m a year earlier, it said in a statement on the bourse website. "This growth in profit is due to an increase in the company’s sales volume," Yamamah said. The quarterly earnings c... |