Cement News tagged under: corporate
China’s CNBM to raise over $600m in share sale31 January 2008, Published under Cement NewsChina National Building Material Co Ltd (CNBM), the country’s No. 2 cement maker, plans to issue up to 300 million shares and use more than US$623m of the sale proceeds to fund acquisitions and investments. CNBM raised $342m in a share sale in Hong Kong in August. The firm has said it plans to increase its capacity by at least five-fold in three years to compete with global players expanding rapidly in a fast-growing market. Despite Beijing’s efforts to cool overheated sectors of t... |
Jurong Cement Unit Sells Stake In China Cement Cos For S$59m31 January 2008, Published under Cement NewsJurong Cement Ltd’s unit Sin Chang An Holdings Ltd. has signed a deal to sell its entire 60% stake in Zhejiang Shanying Cement Co. Ltd. and Zhejiang Jurong Cement Co. Ltd. to China-based Nanfang Cement Co. Ltd. for S$59.34m. In a filing to the Singapore Exchange late Wednesday, Jurong Cement said the cement companies are involved in the manufacture and distribution of cement in Zhejiang province in the China. "It is the intention of the company to focus its attention on being a prod... |
Three foreign banks provide credits for cement plant31 January 2008, Published under Cement NewsFrench banks Societe Generale and BNP Paribas and the Australian and New Zealand Bank (ANZ) signed a contract on Jan. 30 to jointly provide credits worth US$240m to the Thang Long 2 Cement Plant project. The construction of the US$310m will start in the second quarter of this year and is expected to be completed in the third quarter of 2010. The Thang Long 2 Cement Plant has an annual designed capacity of 1.89Mt of clinker and 2.3Mta of cement. It will build production facilities i... |
Thang Long Cement obtains loans from foreign lenders31 January 2008, Published under Cement NewsThang Long Cement Joint-Stock Co. 2 has obtained three loans totaling US$240m from ANZ Banking Group, BNP Paribas and Societe Generale, which will be used to finance the company’s production facilities. The loans equally funded by the three lenders will partly finance the construction of a cement plant in the northern province of Quang Ninh and a grinding plant in Hiep Phuong Industrial Zone in HCMC. The Quang Ninh cement plant is estimated to produce 6,000 tons of clinker per day... |
UAE Fujairah Cement 2007 net profit increases30 January 2008, Published under Cement NewsThe net profit of UAE cement producer, Fujairah Cement Industries Co, rose to 12.8 mln Kuwaiti dinars (US$46.9m)from 11.7 mln dinars (US$42.8m) a year earlier, the company said at a general meeting on January 24, 2008. The company’s management board has decided to recommend to shareholders a 20 per cent cash dividend for 2007, equal to 15 fils ($0.055) per share, in addition to a 10 per cent bonus issue. Fujairah Cement has been traded on the Kuwait Stock Exchange (KSE) since 1993. Later, ... |
Mitsubishi Materials to take over US concrete firm30 January 2008, Published under Cement NewsMitsubishi Materials Corp. said Wednesday its US unit will raise its interest in California-based Robertson’s Ready Mix Ltd. To 70.0 per cent by the end of this year from the current 33.3 percent in a bid to bolster the Mitsubishi group’s cement and concrete business in the United States. The population of southern California, where Robertson’s operates, is expected to grow, boosting local demand for ready-mixed concrete, according to Mitsubishi. MCC Development Corp. will purchase Roberts... |
JK Cement Q3 net up 60 per cent30 January 2008, Published under Cement NewsIndian cement maker JK Cement Ltd today said its net profit has increased by 60 per cent at Rs 80.2 crores during the quarter ended December 31, 2007 as against Rs 50.2 crore during the corresponding quarter a year ago. The net turnover has also increased by 22 per cent at Rs 389.9 crore during Q3 FY2007-08 compared to Rs 319 crore during the same period a year ago. The company has two cement plants at Nimbahera and Mangrol with an aggregate installed capacity of 4Mta and is one of the top ... |
Holcim Romania – turnover increases30 January 2008, Published under Cement NewsHolcim Romania, reported a preliminary turnover of 990 million lei (US$392m) for last year, up 28% compared to 2006. Holcim achieved good results in 2007 due to the dynamic state of [the country’s] construction sector in virtually all segments," Holcim Romania country manager Markus Wirth told a news conference. The company invested a total of US$181.54min a series of projects for the modernisation of production technology, environmental protection, business development and human resources ... |
Oman’s Raysut Cement profit doubles on higher sales29 January 2008, Published under Cement NewsRaysut Cement, Oman’s largest producer of the building material, posted its biggest quarterly profit ever doubling over the year-earlier period on higher sales, including for the Sohar port development project. Net income in the three months to Dec.31 was OMR10.43m (US$27.10m), compared with OMR 4.98m in the year-earlier period, Reuters calculated, based on full-year data the company released. The earnings beat analysts’ forecasts. Sales surged 70 per cent to OMR 19.67m, compared wit... |
Thai Siam Cement expects 2008 sales to rise 10 per cent24 January 2008, Published under Cement NewsSiam Cement PCL , Thailand’s top conglomerate, expects a 10 per cent rise in sales this year from 2007, chief executive Kan Trakulhoon said on Wednesday. He also told reporters the firm believed the domestic cement market bottomed out in 2007 and expected the new government would help restore investor confidence. The company reported a better-than-expected 23.5 per cent rise in quarterly profit as rising oil prices pushed up costs. |