Cement News tagged under: corporate
The China effect20 May 2008, Published under Cement NewsShares of Asia Cement (China) Holdings were up 44% at the midday break on their Hong Kong debut Tuesday, boosted by strong demand for cement to be used in reconstruction after last week’s earthquake in Sichuan province. Asia Cement was at HK$7.15, compared with its initial public offering price of HK$4.95, which was near the lower end of an indicative price range of HK$4.85-HK$6.45. The benchmark Hang Seng Index dropped 1.9% to 25,260 on profit-taking following a nearly 680-point gain in the... |
India heads for more consolidation20 May 2008, Published under Cement NewsAfter a flurry of mergers and acquisitions – CRH acquiring My Home Industries for $462 million, Lafarge buying L&T Concrete’s RMC business for $349 million and Heidelberg consolidating its business with Mysore Cement and Indorama – the cement industry is moving towards consolidation, according to experts. The period 2005–2008 had seen a slew of M&A activity in the industry, with recent ones being of very high valuations. Cash flows are at an all-time high and this year looks to be a very act... |
Asia Cement share sale pays dividends20 May 2008, Published under Cement NewsShares of Asia Cement (China) Holdings were up 44% at the midday break on their Hong Kong debut Tuesday, boosted by strong demand for cement to be used in reconstruction after last week’s earthquake in Sichuan province. Asia Cement was at HK$7.15, compared with its initial public offering price of HK$4.95, which was near the lower end of an indicative price range of HK$4.85-HK$6.45. The benchmark Hang Seng Index dropped 1.9% to 25,260 on profit-taking following a nearly 680-point gain in the... |
Egyptian producer financials19 May 2008, Published under Cement NewsEgypt’s South Valley Cement reported a 16.3 per cent decline in first-quarter net profit to 46.5 million Egyptian pounds ($8.7 million), the stock exchange said on Sunday. The company made a net profit of 55.6 million pounds in the same period in 2007, the bourse said in a statement without further details. Shares in the company rose 5.4 percent to last trade at 33.42 Egyptian pounds. Misr Beni Suef Cement reported a 4.6 percent rise in first-quarter net profit to 58.6 million Egyptian pou... |
UK producers take the strain19 May 2008, Published under Cement NewsRecent financials by UK cement majors, Holcim, Lafarge and Heidelberg indicate signs of weakening sales in the UK. Heidelberg, which sells cement in the UK through its Castle Cement business, said demand in the UK had "weakened as a result of the decline in residential construction". Holcim said that while Aggregate Industries had "almost maintained its deliveries of aggregates", sales had actually decreased when seasonal adjustments were taken into consideration. However, its readymix volu... |
Dontsement to merge with Kryvyi Rih Cement19 May 2008, Published under Cement NewsUkrainian News reports that Kryvyi Rih Cement is intending to merge Dontsement and Cement of Donbas in Donetsk region. In December 2005, German HeidelbergСement via its Dutch affiliate CBR Portland BV purchased Dontsement from the Ukraine company. CBR Portland BV Also owns 99.964% of the shares in Kryvyi Rih Cement. Dontsement company ended 2007 with a net profit of UAH 201.21 million. |
Lafarge Malaysia appoints new president, CEO15 May 2008, Published under Cement NewsLafarge Malayan Cement Bhd has appointed Bi Yong Chungunco as its president and chief executive officer with effect from May 5, 2008. In a statement yesterday, Lafarge said she joined the group in September 2002 as senior vice president — legal, corporate governance and external relations in Lafarge Cement Services Philippines Inc and was also a member of the executive committee. From September 2004 to January 2006, Chungunco held the post of senior legal counsel based in Lafarge SA in P... |
India: cement stocks fall 4% -16% following export ban13 May 2008, Published under Cement NewsThe export ban on cement in India has led to a fall in prices, hitting the industry hard. This has also led to a free-fall in prices of cement stocks, which had been at the top of the bourses when a mismatch in demand and supply favoured the firms’ earnings a year ago. With Gujarat contributing the maximum to the industry’s exports, the state is being the hardest. Cement stocks have fallen in the range of 4% to 16%, while the BSE’s benchmark index Sensex has gained almost 7% since the Apri... |
Asia Cement China Raises US$238m in HK IPO12 May 2008, Published under Cement NewsAsia Cement (China) Holdings has raised US$238 million in a Hong Kong initial public offering by pricing its shares towards the low end of the range. The company, a spinoff from Taiwan’s Asia Cement Corp, sold 375 million new shares, or 25% of its enlarged share capital, at HK$4.95, the person said. It earlier set an indicative price range of HK$4.85-HK$6.45 for the share sale. |
Birla Corporation has reported a 14.46 per cent dip in net profit09 May 2008, Published under Cement NewsBirla Corporation has reported a 14.46 per cent dip in net profit in the quarter ended March 2008 to Rs 86.56 crore compared with Rs 101.19 crore reported in the corresponding quarter last year, on account of lower realisation coupled with increase in input costs in the cement division and suspension of operations at its Durgapur unit. It registered a turnover of Rs 563.14 crore in the period, up 9.94 per cent, from Rs 512.21 crore reported in the corresponding period a year ago. However, fo... |