Cement News tagged under: corporate
Cemex could be poised for recovery - Barron’s10 March 2008, Published under Cement NewsCemex, whose shares have been hurt by a sagging U.S. market, could be poised for a rebound due to expected sales growth and cost savings, according to a report in the latest issue of Barron’s. Shares of the company have lost one-third of their value since last June on concern about an acquisition that broadened its exposure to the anemic U.S. market. "That presents a compelling investment opportunity in a solid, century-old company," Barron’s said. It said Mexico, Cemex’s second-bi... |
Cemex says it sees $400m synergies from Rinker buy06 March 2008, Published under Cement NewsCemex said Wednesday it has identified recurring cost synergies of about $400m as it integrates Rinker, which it bought last year for $15.3bn. Cemex said in a press release that it expects to capture $200 million in synergies in 2008, and that the savings are well above the $130 million in three years that it had expected when it acquired Rinker. Cemex bought Rinker, which has 80% of its operations in the U.S., as the U.S. housing market went into a slump, with declines more prono... |
Uniland posts sales of EUR648m03 March 2008, Published under Cement NewsUniland, in which CRH has a 26.3 per cent stake, saw its earnings before interest and tax soar 28.5 per cent to EUR170.9m as sales rose 13.7 per cent to EUR648.2m. The Catalan firm, which is controlled by Madrid-listed Fomento de Construcciones y Contratas (FCC), delivered 9.8 per cent sales growth in its Spanish business to EUR449.7m, while its international sales – mainly in Tunisia, South America and the US – rose 23.8 per centc to EUR198.5m. "This was a very strong performance... |
Readymix PLC appointment of director29 February 2008, Published under Cement NewsThe Directors of Readymix PLC announce that Ignacio Ortiz has resigned as a Director of the Company for business reasons and Mr. Ignacio Madridejos has been appointed as a Director of the Company, both changes with effect from 27 February 2008. Ignacio Madridejos holds a degree in civil engineering from the Polytechnic University of Madrid and has an M.B.A. from the Stanford University (USA). He was President of Cemex Spain from 2003 to 2007 and, previously, he was President of Cemex ... |
Ambuja Cement wins award27 February 2008, Published under Cement NewsAmbuja Cement Ltd has bagged the Dun & Bradstreet - American Express Corporate Awards 2007. The award acknowledges the contribution made by the company in the growth of the Indian economy. In 2006, Ambuja Cement won the award amongst 16 major cement players nominated for the award. |
Fitch Ratings forecasts Siam Cement’s earnings outlook26 February 2008, Published under Cement NewsSiam Cement’s earnings outlook is expected to remain "constrained", given the expected pressure on petrochemical prices, still rising energy costs in the cement and paper divisions and further currency appreciation, according to Fitch Ratings (Thailand), The Nation reports. "In light of its large investment plans and weakening earnings prospect, SCC’s financial leverage is likely to weaken to the range of 3.0 times during 2008-2009, although the company should be able to maintain its ra... |
Semapa FY net rises 33 per cent to EUR122.0m26 February 2008, Published under Cement NewsSemapa SGPS said net profit increased 33 per cent to EUR122m in the full year to December, up from EUR91.4m in 2006. In a statement, Semapa said EBITDA fell to EUR432.7m from EUR443.6m on a revenue decrease to EUR1.43bn from EUR1.54bn a year earlier. The industrial holding said the net profit figure was boosted by lower write-offs, provisions and raw materials costs as it only consolidated 51 per cent of it Secil cement unit in 2007 compared to its full consolidation in 2006. |
Thailand Siam Cement Sets Coupon For THB20B Bonds At 4.25%25 February 2008, Published under Cement NewsSiam Cement PCL (SCC.TH), Thailand’s largest industrial conglomerate by revenue, has set a coupon of 4.25% for its issue of up to THB20bn (US$619m) of four year bonds, an underwriter said Monday. The coupon represents a premium of 84 basis points above the comparable government bond yield. The issue will be open for subscription from March 3-28 with the bonds to be issued on April 1. |
Romania’s Carpatcement 2007 turnover rises 31%20 February 2008, Published under Cement NewsCarpatcement, a Romanian unit of HeidelbergCement reported a 31% rise in 2007 turnover from its three Romanian divisions to EUR363m (US$534.9m). "Thanks to favourable weather conditions and the boom in residential and office building projects, we worked at our maximum capacity," the company’s general director, Mihai Rohan, said in a statement. HeidelbergCement plans investments of EUR150m by 2011 to double the output capacity of its Romanian units, he said. |
Jordan Cement Factories 2007 net profit down 13 per cent YoY14 February 2008, Published under Cement NewsThe management board of cement producer Jordan Cement Factories Co (JCFC) said at a meeting on February 12, 2008 that the company’s net profit for 2007 declined by 13 per cent YoY to JOD48m (US$67.7m). The decrease was attributed to a number of reasons, including higher energy costs and raw material prices, combined with the fact that the company did not raise its end prices. The board meeting appointed Abdullah al-Khateeb board chairman. The company has two cement plants, one in Fuheis a... |