Cement News tagged under: corporate
Holcim to meet targets despite U.S. slowdown20 September 2007, Published under Cement NewsHolcim is confident it will meet its targets this year despite expecting a slowdown in U.S. cement consumption, the group’s chief executive told Reuters on Thursday. "In August, I said that we are confident that we can exceed the five percent long-term organic like-for-like EBITDA growth target in 2007. That is as valid today as it was valid in August," Chief Executive Markus Akermann told Reuters. The global credit crisis had had no material impact on Holcim’s financing, the hea... |
EA Portland Profit Jumps 20%, Kenya20 September 2007, Published under Cement NewsEast African Portland Cement’s pre-tax profit for the year ending June 2007 has shot up by 20 per cent to Sh1.1 billion, from Sh924 million in the previous year. The growth is attributed to strong market demand in the robust building and construction industry, which improved the firm’s revenues and gross profit. The company expects to accelerate the growth in profit this year on the back of expanding economy. "With the sustained economic growth and vibrant building and construction... |
Shree Cement Q2 net profit up at Rs 115.3 cr19 September 2007, Published under Cement NewsSharekhan Research has come out with its earning estimates on the cement sector for the quarter ended September’ 07-08. According to the report, Shree Cement net sales are seen up 39.50 % at Rs 440.90 crore as against Rs 316.00 crore in the corresponding quarter previous year. During the same quarter its PAT is seen up 40.70 % at Rs 115.30 crore versus Rs 81.90 crore YoY.UI |
Prosperity Minerals Q1 pretax profits 13.49 mln usd, down 14 pct19 September 2007, Published under Cement NewsProsperity Mineral Holdings, a cement manufacturer and iron ore trader in China, said it is on course to meet full year expectations on the back of continuing strong demand for concrete and steel, despite reporting a 14 pct drop in first quarter pretax profits this morning. The decline in the first quarter numbers, with pretax profits of 13.49 mln usd, against 15.61 mln in 2006, was put down to a special tax refund last year, higher coal prices and plant down-time for maintenance. Revenues ... |
CRH’s McGowan lifts stake in firm19 September 2007, Published under Cement NewsCRH today said its chairman Kieran McGowan bought 2,000 shares in the company at E26.58 per share, raising his stake in the company to 9,997 shares. In addition, non-executive directors Terence V. Neill, Daniel N O’Connor and Joyce M C O’Connor also increased their respective holdings in the company. Yesterday, the Irish aggregates and building materials group, said it is in talks with Mexican cement manufacturer Cemex to buy certain assets in the US and Europe for a possible outlay of up to... |
Lithuania’s Akmene cement lifts Jan-Aug revenue to €44m19 September 2007, Published under Cement NewsLithuania’s only cement manufacturer Akmenes Cementas on Tuesday reported 151.2 million litas (EUR 43.83 mln) in sales revenue for the first eight months of this year, a rise of 38 percent from 109.4 million litas a year earlier. Akmenes Cementas CEO Virginija Berezniak attributed the revenue growth to rising cement sales in Lithuania. She said cement sales in the domestic market rose by 10.4 percent year-on-year to 688,600 tons. Sales in Latvia for January-August soared by 50 percent year-o... |
Switzerland Announces Winners of Significant Investment Projects for 2006 – CEMEX19 September 2007, Published under Cement NewsCEMEX, Electronic Arts, Kyphon and Microsoft on September 20 will receive Tell Awards for Switzerland’s most significant inward investment projects by North American firms in 2006, reports Mario Brossi of the Swiss Foreign Investment Agency Location: Switzerland. The awards are named for the Swiss legendary hero William Tell. This year Autodesk will receive a special recognition for ongoing expansion and corporate citizenship. Ambassador Urs Ziswiler will present the awards during the Embas... |
Portland Cement Association Expects Sub-Prime Crisis to Spill over into Commercial Lending19 September 2007, Published under Cement NewsRapidly deteriorating economic conditions, caused primarily by the sub-prime crisis, have prompted the Portland Cement Association (PCA) to adjust its forecast for 2007 and 2008 cement consumption. At his presentation at the PCA meetings in Chicago last week, chief economist Ed Sullivan announced that PCA now expects 2007 cement consumption to decline 6.8 percent, followed by a 1.8 percent decline in 2008. The new forecast assumed today’s 50-basis point cut in the federal funds rate as well ... |
Thailand’s Siam Cement (SCC): Petro-chem business to support 3Q07 profit19 September 2007, Published under Cement NewsSiam Cement’s (SCC) 3Q07 earnings are expected to be supported by high petrochemical spreads, which reached near peak levels compared to the previous year, due to tight supply caused by a shutdown by the Formosa Petrochemical Taiwan olefins plant. The PE - naphtha spread in 3Q07 is estimated to reach $690-700/tonne (+14%qoq, -5%yoy). The PP - naphtha spread is expected to reach $690-700/tonne (+13%qoq, -7%yoy). Cement demand is expected to slip 5-10% in 3Q07 due to low demand from the govern... |
SAC Cement buys China gold mine at HK$1b19 September 2007, Published under Cement NewsShanghai Allied Cement Limited (1060) said its wholly-owned Sino Able Investments Limited agreed to purchase the entire issued share capital of Redstone Gold Limited at HK$1 billion. HK$150 million will be paid as refundable deposit, while HK$850 million will be settled by the issue of 530 million consideration shares of HK$1 apiece and by HK$320 million cash payment. The company also agreed to make available to Redstone a loan facility of HK$50 million to be used solely as working capital... |