Cement News tagged under: corporate
Fujairah Cement reports Dh135.98m profit10 December 2007, Published under Cement NewsFor the nine months ended September 30, 2007, Fujairah Cement Industries (FCI) reported an 11.7 per cent increase in net profit to Dh135.98 million from Dh121.71 million in 9M06. With demand for cement zooming, sales reached 1.66 million tonnes grossing sales revenue of Dh436.92m - an upsurge of 47.5 per cent. On the other hand, escalating raw material prices saw a 68.8 per cent jump in the cost of sales that touched Dh292.89 million as against Dh173.49 million in the year ago period, restr... |
India’s Holcim ups stake in Ambuja Cements to 46% for US$780m07 December 2007, Published under Cement NewsHolcim said it has increased its stake in Ambuja Cements by 13 per cent to 46 per cent for US$780m through an open offer. Holcim increased its stake in the domestic cement maker by 13 per cent since August and now owns 46 per cent in it, the company said in a statement. * It has raised the stake through acquisition of a block of shares from the funding families, the related mandatory offer and open market purchases. * The shareholders of Ambuja Cements have tendered in just 5 per ... |
Holcim Indonesia extends gains on robust earnings outlook06 December 2007, Published under Cement NewsShares of PT Holcim Indonesia continued to surge Thursday after brokerages recently upgraded their earnings forecasts for the country’s third-largest cement maker on expectations demand will stay strong. "Fundamentally, Holcim is now the favorite," said Oos Rosady, a dealer with Mandiri Securities. Rosady said he is not surprised that most analysts are now bullish on the stock since the company reported that net profit for the first nine months rose 22.8 per cent to 153.11bn rupiah. At 11.... |
Thai TPI Polene delays refinancing after huge fines06 December 2007, Published under Cement NewsTPI Polene, Thailand’s third largest cement firm, said on Thursday it had delayed a plan to refinance around 8bn baht (US$264m) of debt to next year after a court imposed huge fines for stock manipulation. "We expect to complete refinancing our debt next year instead of this year," company director Prachai Leophairatana told Reuters. The delay was due mainly to a 6.9bn baht fine imposed early this week said Prachai, who was sentenced to three years in jail after he and the firm were found ... |
Cementir rises 1.8 per cent on high volatility06 December 2007, Published under Cement NewsCementir traded between an intraday low of €6.35 and a high of €6.41. The share price rose 11.0 €cents (1.8 per cent) to €6.41, ending a two-day streak of losses. Compared with the MIBTEL Index which rose 494.0 points (or 1.7 per cent) on the day, this represented a relative price change of 0.1 per cent. PRICE VOLUME DYNAMICS MAP: The price to 200-day MAP ratio is 0.7, a bearish indicator. In the past 200 days this ratio has been under 0.7 just nine times suggesting a support level. The sto... |
HeildelbergCement strengthens above moving average price06 December 2007, Published under Cement NewsHeidelberg Cement AG has strengthened above its trend. The 200-day moving average price (MAP) was €110.60. The price to 200-day MAP ratio is 1.02, a bullish indicator. In the past 200 days this ratio has exceeded 1.02 seventy-seven times suggesting further upside. The stock is trading above both its MAPs at €110.60 for the 200-day moving average price and €108.74 for the 50-day moving average price. The share price rose €1.75 (1.6 per cent) to €112.85. Compared with the DAX Index which rose ... |
Egyptian Alexandria Cement AGM Approves US$0.54 Dividend/Share 9-Mo 200706 December 2007, Published under Cement NewsThe annual general meeting (AGM) of Egyptian company Alexandria Cement approved on December 5, 2007 a cash dividend of E£3 (US$0.54/€0.37) per share for the first nine months of 2007. Alexandria Cement is traded on Cairo and Alexandria Stock Exchanges (CASE) under the ALEX.CA symbol. It has 12,057,470 shares at a par value of E£10 (US$1.81/€1.24). The company’s market capitalisation amounts to E£752.4m (US$136.2m/€93.2m). For the first nine months of 2007, the company posted a consolidat... |
India: cement scripts trail Sensex in returns05 December 2007, Published under Cement NewsCement manufacturing companies are facing a tough time in the current quarter as cement prices move south, while the cost of power and coal move north. Apart from the increase in the cost of production and little or negative rise in cement prices all over India, cement companies are also likely to face a glut in 2008-09 and 2009-10. According to the latest research report on the cement sector by Edelweiss Research, all-India utilisation levels are likely to correct to 94 per cent in FY09 (e... |
Sinoma IPO allure untarnished by mainland austerity measures05 December 2007, Published under Cement NewsDespite the uncertainties posed by mainland austerity measures and a chilly response to some recent initial public offerings, the upcoming initial public offering for China National Materials (Sinoma) may still prove attractive to investors. Sinoma, the mainland’s biggest cement company, plans to raise up to HK$4.19bn by issuing 931.71m shares at between HK$3.20 and HK$4.50 per share. "Compared with other large-scale companies, such as Anhui Conch and China National Building Materials, Sin... |
Holcim consolidates stake in Ambuja Cements to 46 pc05 December 2007, Published under Cement NewsHolcim Ltd, world’s second largest cement-maker, today said it has increased its stake in Ambuja Cements by 13 per cent to 46 per cent for US$780m (Rs 3,075 crore) through an open offer. Holcim increased its stake in the domestic cement maker by 13 per cent since August and now owns 46 per cent in it, the company said in a statement. It has raised the stake through acquisition of a block of shares from the funding families, the related mandatory offer and open market purchases. The shareh... |