Cement News tagged under: corporate
Chettinad Cement Q2 net jumps 48.55%17 October 2007, Published under Cement NewsChettinad Cement Corporation registered a substantial rise of 48.55% in net profit for the second quarter ended June 2007. The strong sales growth coupled with improved operating margins helped the company to post better earnings growth. During the quarter, net profit of the company jumped to Rs 507.6 million from Rs 341.7 million in the same quarter, last year. Net sales for the quarter climbed 25.77% to Rs 2,349.90 million, while total income for the quarter rose 25.89% to Rs 2,361.60 mil... |
Holcim (New Zealand) manager moving to cement career in US15 October 2007, Published under Cement News"A bit of an adventure" is how Holcim (New Zealand) Ltd’s strategy and development general manager Paul Commons’ describes his transfer to work for Holcim in the United States. Christchurch-based Mr Commons has been a familiar figure in North Otago since Holcim New Zealand announced last year its $200 million cement plant proposal near Weston. In an interview, Mr Commons said while he was sad to leave the project, it was an appropriate time with the conclusion yesterday of the fo... |
ACC hikes stake in Shiva Cement to 14.7%15 October 2007, Published under Cement NewsACC has increased its stake to 14.7 per cent in Shiva Cement from 11.22 per cent as on June 30 this year. Mr Ramit Budhraja, Business Head (East) of ACC, told Business Line on Friday that the increase was the result of conversion of a portion of warrants into equity and also direct purchase from promoter entities. Expansion Phase The shareholding pattern and paid-up capital of Shiva Cement, which is undergoing a restructuring and expansion phase for some time, is poised for further changes... |
Cimpor eyes 10 per cent per year revenue growth in China, mulls India opportunities11 October 2007, Published under Cement NewsCimpor expects to have over 10 per cent revenue growth in the Chinese market and is considering opportunities in India, local newspaper Diario Economico reported, citing an unnamed source at the company. According to the newspaper, the growth forecasts can be explained by China’s ’extended economic boom’ and by the fact that the companies Cimpor acquired this year are located in a region with significant short and medium-term growth potential. Cimpor regional coordinator for China ... |
Thailand’s Siam Cement Pcl. (SCC): 3Q07 earnings slightly better QoQ11 October 2007, Published under Cement NewsSCC is expected to post a 3Q07 net profit of Bt8.5bn, up 11.6% YoY but down 3.8% QoQ. Extra gains (after excluding 30% tax) are anticipated to be Bt1.8bn from the sale of its remaining 5% stake in The Aromatics (Thailand) (ATC.BK, Bt72.50, OP). Its 3Q07 normalized profit is expected to be Bt6.7bn, down 21.8% YoY but up 4.9% QoQ. The YoY decline would be due to the decelerating performances from its chemical, cement, and paper units, while the QoQ rise would be attributable to the improved ch... |
Strong volumes & higher prices to drive earnings of cement cos, India10 October 2007, Published under Cement NewsStrong volumes and higher prices is expected to drive earnings growth of cement companies, which are all set to deliver good results in the second quarter of the current fiscal. Prices and demand is likely to gain momentum once summer sets in and the construction and infrastructure projects resume. Devoid of the otherwise usual softening of demand during the July-September quarter, the earnings preview of most brokerages expect volumes to grow in the range of 12-13%. The bottomline of cemen... |
China cement price gains09 October 2007, Published under Cement NewsCement prices in most regional Chinese markets have been rising steadily since mid-September matching the peak season construction activities. Conch Cement’s recent price hike in East China further also confirms this upward trend. The closure of small cement capacity YTD has been way ahead of analysts expectations, further confirming the view that the industry is still in the early stages of long-term recovery in profitability. Deutsche Bank analysts in Hong Kong have raised their earning... |
HeidelbergCement issues new bond for private investors08 October 2007, Published under Cement NewsHeidelbergCement is planning to issue a euro bond this month via its subsidiary HeidelbergCement Finance B.V. The bond, which matures on 4 January 2018 and has a first coupon payment on 4 January 2009 (long first coupon), has a coupon of 5.625% and has the benefit of the unconditional, irrevocable guarantee given by HeidelbergCement AG. The offering price/issuing price is 94% plus any commissions and fees. The size of the non-benchmark issue is to be announced at a later date. The proceeds g... |
Basic Element, Strabag form cement jv, plan acquisitions in eastern Europe05 October 2007, Published under Cement NewsRussia’s Basic Element and Austria’s Strabag SE have agreed to combine their cement activities into a 50/50 joint venture, which will be expanded via acquisitions and greenfield plant construction, Kommersant reported citing both companies. A Strabag spokesman told the newspaper that within the next two to three years the joint venture plans to open at least 10 new cement plants in Russia and eastern Europe. In addition, he said talks are ongoing to acquire existing cement production facil... |
Portuguese Cimpor sees 2007 turnover Up 16 per cent05 October 2007, Published under Cement NewsCimpor expects to close 2007 with a 16 pct year-on-year rise in its turnover to 1.9 bln euro ($2.684 bln), the company said in a statement to the national bourse regulator CMVM on October 3, 2007. Cimpor ended 2006 with a turnover of 1.638 bln euro ($2.314 bln). The projected turnover increase in 2007 will reflect mainly the expansion of the company’s operations and the rise in sales on the markets in Brazil and in the northern and southern Africa. |