Cement News tagged under: corporate
Pakistan cement companies booking losses26 June 2008, Published under Cement NewsMost of the listed cement companies have registered huge losses from operations during the first nine months of the current fiscal year, industry sources say. They say that 85 per cent of the listed cement companies have incurred losses amounting to Rs 5 billion during first nine months of the current fiscal. These losses occurred mainly due to rising cost of doing business and an imbalance in supply-demand phenomenon, resulting in depressed market prices, said industry officials. The manuf... |
July 1st still date for Titan cement hearing25 June 2008, Published under Cement NewsThe U.S. Army Corps of Engineers says it still holding the public comment hearing on Titan Cement on July 1st. The City of Wilmington asked for the hearing to be moved because it conflicted with the City Council meeting. But the Corps of Engineers says the hearing is still planed for Tuesday at Wilmington Christian Academy. The Corps will use the public’s concerns to figure out if Titan Cement should build on the proposed location in Castle Hayne along the banks of the Northeast Cape Fear... |
Ethiopian cement company, international lenders loan agreement25 June 2008, Published under Cement NewsDerba Midroc Cement Plc and the international and domestic lenders singed loan agreements worth US$351m in Addis Ababa on Monday [23 June]. According to the agreements, the African Development Bank (AfDB), International Financial Cooperation (IFC), European Investment Bank (EIB), and Development Bank of Ethiopia (DBE) will provide US$200m in loan to Derba Midroc. The remaining US$151m will be obtained from the owner and sponsor of the project, Shaykh Mohammad Husayn Al-Amoudi. The agre... |
China’s Anhui Conch Cement says 26.47m A-shares will emerge from lockup June 3024 June 2008, Published under Cement NewsAnhui Conch Cement Co Ltd said 26.47m of its A-shares will come out of lockup and will be available for trading on the Shanghai exchange from June 30. The company issued 200m new A-shares on May 16 to both institutional and individual investors at CNY57.38 each, raising CNY11.476bn. A-shares of Anhui Conch Cement closed down 5.58 pct at 41.08 yuan yesterday. |
Shanshui Cement mulls HK$305m HK IPO18 June 2008, Published under Cement NewsShandong Shanshui Cement Group Ltd, partly-owned by the International Finance Corporation (IFC), a member of the World Bank Group, is mulling an initial offering in Hong Kong to raise as much as HK$305m, according to a source close to the situation on Monday. |
Taiwan’s Asia Cement unit in China sees 2008 net profit up 66 per cent18 June 2008, Published under Cement NewsAsia Cement Corp’s unit in China expects a net profit of more than CNY500m this year, up 66 per cent from CNY300m posted last year, the Economic Daily News reported. China unit chief executive officer TH Chang said in the report that the mainland market’s demand for cement should grow in the second half this year. In particular, its plant in Chengdu will benefit from strong reconstruction demand following the devastating earthquake in China’s Sichuan province last month. |
Egypt’s South Valley Cement agrees capital raise17 June 2008, Published under Cement NewsSouth Valley Cement, Egypt’s largest cement firm by market value, agreed at a general assembly meeting to raise its paid-up and issued capital, according to minutes of the meeting released on Monday. The company agreed to raise its capital to E£2.07bn (US$387m) from E£1.48bn, according to the minutes. It said it may distribute free shares, but did not give further details. |
China Shanshui Cement plans up to US$305m HK IPO16 June 2008, Published under Cement NewsChina’s second-largest clinker and cement producer, China Shanshui Cement Group Ltd, aims to raise up to US$305m from a Hong Kong IPO, sources close to the deal said on Monday, shrugging off the recent stock market plunge and poor performance of recent listings. Hong Kong’s Hang Seng Index .HSI has lost around 8 percent since the start of June in volatile trade as investors fret over rising inflation. Cement stocks had further to fall after jumping on expectations for strong demand as Sichu... |
India Cements falls 1.8 per cent09 June 2008, Published under Cement NewsIndia Cements fell for a second day on Monday. The share price decreased INR3 (or 1.8 per cent) to INR161.60. Compared with the Nifty Index which fell 189 points (or 4.1 per cent) on the day, this represented a relative price change of 2.3 per cent. As a result of the price decline the Price/Earnings multiple based on trailing 12 months earnings has improved to 7.9; the stock has a value percentile rank of 80.2 or rank of 156 out of 794 stocks with earnings. |
Ambuja Cement slides 5.7 per cent09 June 2008, Published under Cement NewsAmbuja Cements slid INR4.85 (or 5.7 per cent) to INR80.40. Compared with the Nifty Index which fell 171 points (or 3.7 per cent) on the day, this represented a relative price change of -2 per cent. The price crashed 12.8 per cent in the last week and 27.9 per cent in the last month. In the last three months the number of falls outnumbered rises 38:19 or 2.0:1. |