Cement News tagged under: corporate
Johnston named PCA Government Affairs Vice President28 January 2015, Published under Cement NewsPCA named A Todd Johnston as vice president for government affairs, effective 19 January 2015. Based in the association's Washington office, he will represent PCA and its members with the federal government. Johnston comes to PCA with a strong record of experience and accomplishments in state government, industry, and in Congress, the association highlights. Most recently, he served as staff director for the Subcommittees on Environment and Energy under the US House Committee on Science, S... |
PPC cautions on half-year earnings27 January 2015, Published under Cement NewsSouth Africa's biggest cement maker, PPC, advised yesterday that its earnings in the six months to the end of March 2015 may fall by as much as 45 per cent partly due to rising finance costs. The company said in a trading statement released yesterday that it headline earnings per share for the six for the first half of the fiscal year is expected to be between 25 and 45 per cent lower than the comparative period of the previous year. “Notwithstanding a weaker trading environment, the mai... |
Siam Cement 4Q profit projected to dip, positive 2015 outlook27 January 2015, Published under Cement NewsSiam Cement is expected to report lower 4Q14 earnings as a result of an inventory loss in its petrochemical unit and the impact of the economic slowdown. Going forward, a promising outlook for petrochemicals and growth revival in cement demand are among factors to watch this year. Maybank Kim Eng Securities (Thailand) forecasts net income is projected to fall one per cent QoQ and six per cent YoY to THB7.74bn (US$237.89m). Krungsri Securities, which calls 4Q14 the weakest quarter, notes tha... |
UltraTech quarterly revenue rises 15% YoY26 January 2015, Published under Cement NewsIndia's largest cement producer, UltraTech Cement, reported a 15 per cent YoY increase in net sales for the quarter ended 31 December 2014 to INR54.9bn. Earnings before interest depreciation and tax for the three months was up 14.5 per cent to reach INR9.9bn, but profit after tax (PAT) dipped 1.6 per cent to INR3.64bn, compared to the same period of last year. For the first nine months of the current fiscal, revenues jumped 16 per cent and PAT rose seven per cent. Combined domestic ce... |
Ecuador: Peru’s Cementos Yura buys stake in Unión Cementera Nacional26 January 2015, Published under Cement NewsCementos Yura, part of Peru’s Grupo Gloria, has acquired a 63.5 per cent share in state-owned Unión Cementera Nacional of Ecuador, which will hold the balance of shares. The $230m investment will be disbursed to the Ecuadorian cement producers via a trust over the next 40 months, during which the construction will take place of a new 2400tpd clinker production line in Riobamba. "We will participate in this company with this contribution and are very optimistic that this will benefit t... |
Dongwu Cement placement of new shares26 January 2015, Published under Cement NewsChina-based Dongwu Cement said it agreed to place up to 40 million new shares at HK$1.3 apiece, representing a premium of about 3.17 per cent to the closing price of H$1.26. The placing shares represent around 7.25 per cent of the enlarged issued share capital of Dongwu Cement. The estimated net proceeds of about HK$51.3m will be used for acquiring 100 per cent equity interest in Shanghai Biofit Environmental Technology Co, Ltd and for general working capital of the group. |
Acting Semen Indonesia CEO named new head23 January 2015, Published under Cement NewsPT Semen Indonesia Tbk on Friday appointed acting chief executive officer, Suparni, as its new head. His term will expire in 2019. Suparni, who goes by one name only, had been Acting President Director since the departure of former president director Dwi who was selected in November last year to lead state oil and gas giant Pertamina. Suparni joined Semen Indonesia in 1986. His previous postings were production director of Semen Gresik's Tuban plant since 2007, Head of Corporate Deve... |
Fitch upgrades GCC’s ratings, outlook to stable23 January 2015, Published under Cement NewsFitch has raised the credit rating of Mexican cement firm Grupo Cementos de Chihuahua (GCC) to BB-, in both local and foreign currency, with a stable outlook. Fitch said in a statement that ratings upgrade reflects GCC's strong operating performance over the past several quarters, its significantly improved credit profile following debt repayments during 2014 and the successful debt refinancing during 2013. The upgrade takes into consideration the improvement in the US cement market and an ... |
Russia: LSR completes cement divestment23 January 2015, Published under Cement NewsLSR Group has completed sale of its cement plant located in Slantsy, Leningrad region, to Russian market leader, Eurocement. Following closure of the deal, Eurocement has now acquired full operating control over the facility based in northwest Russia. The plant, which began operations in September 2010, operates a 5000tpd clinker line and has a cement output of 1.86Mta. In a statement released yesterday, LSR reiterated that the divestment is part of its strategy of focusing on projects ... |
Saudi: Al Jouf Cement's 4Q14 profit surges22 January 2015, Published under Cement NewsAl Jouf Cement Co posted a SAR20.7m (US$5.51m) net profit for the fourth quarter of 2014, with an increase by 160.49 per cent YoY from SAR7.9m and 141.26 per cent QoQ from SAR8.6m. Meanwhile, FY14 net profit amounted to SAR60.4m, with a rise by 11.69 per cent from SAR54.1m a year earlier. The company attributed the profit rise to higher sales and lower cost of sales. |