Cement News tagged under: corporate
Cemex CEO says company’s Venezuela exposure small25 April 2008, Published under Cement NewsMexican cement maker Cemex SAB isn’t overly exposed to a nationalization of its Venezuela operations because it’s only a small part of its global operations, Chief Executive Lorenzo Zambrano said Thursday. "Venezuela is a small part of Cemex," Zambrano said. "That’s an advantage of being all over the world." Zambrano said Cemex will continue working in Venezuela until the operations come under government control. He declined to say if Cemex was interested in being a minority partner in a... |
Thailand’s Siam Cement to issue US$158m debt25 April 2008, Published under Cement NewsSiam Cement SCC.BK, Thailand’s top industrial conglomerate, said on Friday it plans to raise an additional THB5bn ($158m) in debt. The firm said in January it would sell up to THB20bn of four year bonds to refinance debt. "Usually, we raise about THB20-25bn. Probably this year will be around THB25-30bn," said Kan Trakulhoon, president and chief executive of Siam Cement. He said the firm’s net debt stands at around THB100 bn, of which 80 per cent is denominated in the Thai currency. |
Colombia’s Cementos Argos 1Q net increases24 April 2008, Published under Cement NewsCementos Argos SA, Colombia’s largest cement company, said Wednesday its consolidated net profit rose in the first quarter to US$42m, boosted by the company’s sales in its home country, Argos said in a statement. Cementos Argos’ sales in Colombia rose faster than the sales of the industry in general, the statement said. The company sold 1.15Mt of cement in Colombia during the quarter. Cementos Argos’ sales also rose in Panama, Dominican Republic and Haiti. Volume of sales of ready-mix c... |
Lucky Cement plans to raise funds for expansion22 April 2008, Published under Cement NewsLucky Cement Ltd said Monday it plans to raise funds soon by selling global depository receipts. "The company is fully prepared to raise equity funds through global depository receipts at an appropriate time shortly for which all the required approvals have already been obtained," it said in a statement to the Karachi Stock Exchange. A company official said in February it plans to raise $150 million by issuing global depository receipts by the end of the current fiscal year to June 30. |
Saudi Cement Q1 profit growth below competitors21 April 2008, Published under Cement NewsSaudi Cement Company , Saudi Arabia’s largest cement maker, said first-quarter income rose 2.7 per cent on higher sales, though the growth in profit is one of the industry’s lowest. Saudi Cement made a net profit of 173.3 million riyals ($46.2 million), or 1.7 riyals per share, in the three months to March 31, up from 169 million riyals, or 1.66 riyals per share, in the year-earlier period, it said in a statement on the Saudi bourse website. Saudi Cement is both the industry’s largest by... |
Asia Cement Holdings to Go Public on SEHK17 April 2008, Published under Cement NewsTaiwan-based Asia Cement Corporation plans to spin off Asia Cement Holdings, its business in Mainland China, for a listing on the Stock Exchange of Hong Kong, scheduled on May 20, 2008. The listing vehicle will kick off an IPO of 375m shares, including 90% as international tranche, and 10% as retail tranche. US$250m will be raised and used for plant expansion, loan repayment, strategic investment, and working capital enrichment. ABN Amro Holding NV (ABN) is said to be its sponsor. Cred... |
GBL buys 50,000 more Lafarge shares for EUR5.47m11 April 2008, Published under Cement NewsGroupe Bruxelles Lambert bought 50,000 shares in French cement company Lafarge for a total of EUR5.47m in a series of transactions between March 25 and March 31, according to filings with market regulator AMF. GBL has been steadily building up a stake in Lafarge and has said it could raise its holdings to as high as 30 percent. |
Fitch lowers ratings on Siam Cement10 April 2008, Published under Cement NewsFitch Ratings Ltd on Wednesday revised its rating outlook on Siam Cement Public Co Ltd, Thailand’s largest industrial group, from stable to negative. "The revision of the rating outlook is based on the weakening in SCC’s business fundamentals in its core businesses due to higher raw materials and energy costs, overcapacity and uncertain global demand, which could further weaken its financial performance and margins as well as reduce its financial flexibility," the credit rating agency said.... |
Adelaide Brighton expects FY net profit A$118m-A$125m10 April 2008, Published under Cement NewsAustralian cement company Adelaide Brighton Ltd said Thursday it expects net profit to rise 9.7% this fiscal year. The Adelaide-based company, which had earnings of A$113.9 million in the year ended Dec. 31, expects net profit to rise to between A$118 million and A$125 this year, it said in a presentation to the UBS Emerging Companies Conference. Cement and lime demand is expected to grow about 3% above last year’s levels, Adelaide Brighton said, adding that product price increases will ... |
Saudi Yamama Cement net profit up 14 per cent in 1Q0809 April 2008, Published under Cement NewsSaudi cement producer Yamama Cement Company (YCC) saw its net profit go up 14 per cent YoY to SAR197.5m (US$52.7m) in the first quarter of 2008, the company said in a statement to the Saudi stock exchange on April 9. The increase was mainly due to a strong growth in sales, YCC said without disclosing any exact figures. Earnings per share (EPS) rose to SAR1.46 (US$0.39) from SAR1.29 (US$0.34). Operating profit stood at SAR196m (US$52.3m), up from SAR174.8m (US$46.6m) in the first three ... |