Cement News tagged under: corporate
Asia Cement nine month profit surges, China25 October 2013, Published under Cement NewsAsia Cement said net profit attributable to shareholders for the first nine months of the year rose by 166 per cent YoY to CNY391m (US$64.25m). Revenue rose by 3.9 per cent from a year earlier to CNY4.92bn. Gross profit increased by 29 per cent to CNY901m with margins of 18 per cent, up by three percentage points on a year earlier. For full-year 2013 the group anticipates a five per cent YoY rise in sales to 26Mt compared to 24.8Mt in 2012. It expects to continue benefitting from a declin... |
DG Khan sees 17% decline in first-quarter exports, Pakistan25 October 2013, Published under Cement NewsDG Khan Cement reported a lower-than-expected post-tax profit of PKR1.07bn (US$10m) in the first quarter of the current fiscal year, down 26 per cent from the PKR1.44bn reported in the same period of last year. The decline is mainly being attributed by analysts at Summit Capital to a decline in sales which fell six per cent YoY to 903,000t compared to 964,000t in the same period of last year. Local sales fell one per cent to 621,000t while exports fell by a substantial 17 per cent YoY to 2... |
JP Morgan lifts stake in Anhui Conch25 October 2013, Published under Cement NewsJPMorgan Chase & Co purchased 2.05 million shares (a 0.16 per cent stake) in Anhui Conch Cement Co Ltd on 17 October, increasing the stake to 12.12 per cent, according to the Hong Kong Stock Exchange. After the purchase, JPMorgan bought the shares HK$26.95/ share and for a total of HK$ 55.25m (US$7.13m). |
Cemex Latin America cement shipments edge ahead, grows stronger downstream24 October 2013, Published under Cement NewsCemex Latin American Holdings' turnover for the first nine months of the year advanced by eight per cent to US$1287.8m, while the EBITDA increased by 16.2 per cent to US$474.4m. The increase at the trading level was a little less at 14.1 per cent to US$405.4m. After a net interest charge of US$86.8m, the pre-tax profit amounted to US$309.1m. Net debt at the end of September stood at US$1345m, to give a gearing level of 94.7 per cent, with 88 per cent of the total gross debt being denomina... |
HeidelbergCement issues a Eurobond22 October 2013, Published under Cement NewsHeidelbergCement yesterday priced a Eurobond issue under its €10bn EMTN programme with an issuance volume of EUR300m and a maturity date of 21 October 2020. The proceeds of the transaction will be used for general corporate purposes. “The new Eurobond is a great success,” says CEO, Dr Bernd Scheifele. “With the seven year bond, HeidelbergCement could raise capital at more favourable terms for a longer maturity compared to one year ago. This is a clear proof of the improved credit quality of... |
Cemex third quarter loss expected to narrow21 October 2013, Published under Cement NewsCemex is expected to post a narrower third quarter loss for the July-September period of 2013 led by a pick-up by US sales, the company’s biggest market. According to a Reuters' survey of six analysts, the Mexican cement major is expected to report a loss of US$22m compared with a loss of US$203m a year earlier. An increase in US sales is expected to offset weak performances in Europe and Mexico, the news agency said. Analysts expect third-quarter results to show that Cemex sold more cemen... |
CRH opens regional headquarters in Singapore17 October 2013, Published under Cement NewsCRH announced the official opening today of its regional headquarters in Singapore, to oversee the expansion of its existing interests in India and China, and to pursue further development opportunities in the wider Asia region. Commenting on the opening, Ken McKnight, President of CRH Asia said:“ The opening of our regional headquarters in Singapore today marks a further step in the evolution of CRH and an important catalyst for growth in Asia in the medium term. CRH entered the China ma... |
Daiwa raises CRC target price, China17 October 2013, Published under Cement NewsDaiwa Research raised its target price for China Resources Cement (CRC) to HK$6.6 from HK$5.95, and retained its "buy" rating. The research house cited management noting that the market has been overly pessimistic on cement prices for south China, as many analysts seem to have misread the capacity growth in the region. While many production lines are pending to be built in the region, not all are able to get full approval, the research house said. With slower capacity growth and improv... |
Vietnam producer to delist from Hanoi Stock Exchange16 October 2013, Published under Cement NewsVinaconex Xuan Mai Concrete & Construction's shareholders have approved a plan to de-list nearly 20m shares from the Hanoi Stock Exchange. To facilitate the plan, Khai Hung Company, a major shareholder of XMC, will buy the shares from other shareholders at not below VND5,600, the floor price of XMC shares on 11 October 2013. Earlier, Khai Hung bought a 51 per cent stake, or 10.2 million shares, of XMC from Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex). T... |
Employment suspension to affect all of Olazagutía’s employees15 October 2013, Published under Cement NewsThe temporary employment suspension (ERTE) raised by Cementos Portland for its six plants in Spain is expected to affect the entire workforce of the Olazagutía plant in Navarra. A negotiation process has now started between the company’s management and the representatives of the 110 employees at the works to minimise the impact of the ERTE. Javier Lecumberri of the general workers union, UGT, said that the negotiation process is "very complex" which will address "both the conditions of th... |