Cement News tagged under: corporate
CEMEX Provides Guidance for the Third Quarter of 200717 September 2007, Published under Cement NewsCEMEX, S.A.B. de C.V. announced today that it expects EBITDA for the quarter ending September 30, 2007 to be about US$1,350 million, an increase of about 22% versus the same period last year, while operating income is expected to be about US$950 million, 16% higher than the same period a year ago. Guidance for operating income excludes potential adjustments due to the revaluation of Rinker’s assets. CEMEX expects sales in excess of US$6.0 billion, an increase of around 29% versus the same pe... |
HeidelbergCement sets Hanson plan; CDS converge14 September 2007, Published under Cement NewsHeidelbergCement AG set out plans on Thursday for the existing debt of Britain’s Hanson, which it bought earlier this year, leading the cost of default protection on the two credits to converge. Crucially, HeidelbergCement said Hanson would guarantee HeidelbergCement’s debt until all of Hanson’s dollar bonds, which will remain outstanding, have matured – or until 2016. Meanwhile, HeidelbergCement will guarantee Hanson’s bonds. It said the end result would be that the two company’... |
Attock Cement’s profit falls to Rs796.433m13 September 2007, Published under Cement NewsThe profit after tax of Attock Cement Pakistan Limited has declined to Rs 796.433m in the year ended on June 30 as compared to Rs 908.609m in the same period last year. The earning per share of the company stood at Rs 11.04 in the period under review against Rs 12.59 in the same period last year. The board of directors of the company, in its meeting held on Tuesday at Damascus, recommended a final cash dividend for the year at Rs 4.50 per share, ie 45 percent. The Karachi Stock Exc... |
Aveng on the prowl with Holcim cash12 September 2007, Published under Cement NewsAveng, South Africa’s biggest construction and engineering company, is considering a major acquisition, which would be funded from the proceeds of its R6.8 billion sale of its shareholding in Holcim South Africa. But Aveng expressed confidence yesterday that it would be able to return R3.5 billion of capital to shareholders in the short term, and R5 billion if its assessments of prospects in the construction industry did not result in significant incremental capital requirements. T... |
Decline expected in Attock Cement’s profit, Pakistan10 September 2007, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) is expected to post a profit after tax of Rs 793m for the financial year 2006-07, which is 13 per cent lower than Rs 909m reported during FY06, Zuhair Abbasi, an analyst at Capital One Equities said in a research report. The earnings per share (EPS) of the company is likely to decline to Rs 10.99 from Rs 12.59 in the previous financial year. The company is scheduled to announce its FY07 results on September 11. The Q4-FY07 earnings are likely to decline b... |
TCC Int’l gets 50% voting right in CHCGC07 September 2007, Published under Cement NewsTCC International (TCCIH) (1136) and Chia Hsin Cement Greater China Holding (CHCGC) said Chia Hsin Pacific Limited (CHPL) has accepted the offer of the voluntary conditional securities exchange offer by Morgan Stanley on behalf of TCCIH to acquire all issued shares capital of CHCGC. In respect of this, 814 million CHCGC Shares (71.22% issued share capital of CHCGC) was sold to TCCIH. After the deal, TCCIH will hole more than 50% of the voting rights in CHCGC. TCCIH will then issu... |
Croatian Nasicecement to hike capital05 September 2007, Published under Cement NewsCroatian cement producer Nasicecement, part of local construction materials group Nexe, plans to hike its share capital to 577.73m Croatian kuna (EUR78.9m), from 257.73m kuna (EUR35.2m). The shareholders will vote for the capital hike at an extraordinary meeting convened on October 15, 2007. The capital hike will be carried out by issuing 800,000 new shares with a par of 400 kuna ($74.3/54.6 euro) each. Nexe is to subscribe all the newly issued shares. After the hike the c... |
Egypt’s OCI says H1 net pft up 46 per cent to $307m04 September 2007, Published under Cement NewsEgypt’s Orascom Construction Industries (OCI) reported a 46 per cent rise in its first-half net income on Monday to $307 million, helped by higher sales volumes. The Cairo-based group said in a statement it would pursue more greenfield and acquisition opportunities to sustain its growth momentum. EBITDA rose 48 per cent to $515 million compared with the same period in 2006. Consolidated revenues rose 43 percent to $1.731 billion, OCI said. "Our cement operations continued to ... |
HeidelbergCement could sell further non-core activities30 August 2007, Published under Cement NewsHeidelbergCement is examining a possible sale of further marginal activities, following the takeover of UK construction materials supplier Hanson. The company says that it is carrying out an analysis of its worldwide business activities and sites, which will take several weeks. This assessment is expected to be completed by the end of October or beginning of November. HeidelbergCement has already sold its subsidiary Maxit and its minority stake in French cement manufacturer Vicat in ord... |
Taihang Cement new shareholder30 August 2007, Published under Cement NewsTaihang Cement announced today that the company received the approval of the State-owned Assets Supervision and Administration Commission of the State Council for 42.43 million shares held by Hebei Taihang Huaxin Building Materials Co., Ltd in Taihang Cement to be transferred to Zhong Jingxin Investment Co., Ltd. Upon completion of the transfer, Hebei Taihang Huaxin Building Materials will hold 114 million shares, accounting for 30% of the total, while Zhongjingxin Investment Co. Ltd will ho... |