Cement News tagged under: corporate
AVIC raises stake in KHD, buy-out offer14 October 2013, Published under Cement NewsChina-based AVIC International Holdings Ltd said it will boost its holding in KHD Humboldt Wedag International AG and make a buy-out offer. The Shenzhen-based company will buy 19 per cent of KHD from 12 sellers for EUR61m (US$83m), increasing its stake to 39.03 per cent, according to a Hong Kong stock exchange filing yesterday. MFC Industrial Ltd. is one of the companies disposing of KHD shares. In 2010, KHD launched a strategic partnership with CATIC Beijing Co. Ltd, a subsidiary o... |
Vicem Hoang Mai Cement expects to return to pretax profit, Vietnam14 October 2013, Published under Cement NewsVicem Hoang Mai Cement JSC expects to post a pretax profit of in the third quarter after an audited loss in the first six months, but is unlikely to hit its full-year target. The company’s third quarter pretax profit is expected to reach VND20bn (US$947,800) following a loss of VND23.78bn in the first half, the Dau Tu Chung Khoan magazine cited an official of the firm as saying. However, even with this quarterly advance the company is unlikely to hit its full-year profit target of VND90bn... |
Upbeat outlook for SCC third-quarter earnings11 October 2013, Published under Cement NewsThai conglomerate Siam Cement Co (SCC) is expected to post robust YoY earnings growth in 3Q13 thanks to improved petrochem spread and healthy cement demand growth with higher prices, according to a recent report by TISCO Securities. The research house expects SCC to post a 3Q13 net profit of THB9.1bn, up 41.9 per cent YoY but down 8.3 per cent QoQ. The expected YoY growth is due to higher petrochem spread, continued strong cement demand with higher prices, and extra gain from investment va... |
Nguyen Thi Thu Huyen acquires stake in Vinaconex Xuan Mai Concrete & Construction11 October 2013, Published under Cement NewsRetail investor Nguyen Thi Thu Huyen has acquired 1.93 million shares, or a 9.67 per cent stake, of Vinaconex Xuan Mai Concrete & Construction JSC. Last month, Khai Hung Company also bought a 51 per cent stake of the cement producer from Vietnam Construction and Import-Export Joint Stock Corporation (VCG), or Vinaconex. |
Jianxi Wannianqing expects significant rise in 9M net profit10 October 2013, Published under Cement NewsJianxi Wannianqing Cement said it expects net profit to surge in the first nine months of this year compared to the same period of 2012 due to an increase in sales and lower production costs. The China-based producer expects a rise of 196-223 per cent YoY. It earlier reported a net profit of CNY132.56m for the first half of the year, up 129.02 per cent on the 1H12. Core business revenue jumped 26.13 per cent to CNY2.53bn. |
S&P confirms Buzzi, Dyckerhoff rating; negative outlook09 October 2013, Published under Cement NewsBuzzi Unicem said today that Standard & Poor’s confirmed the long-term corporate rating (BB+) on Buzzi Unicem and its German subsidiary Dyckerhoff AG and the short-term rating (B) on both groups, thus removing them from the credit watch with negative implications announced on 8 August 2013. The outlook was revised from stable to negative. |
Lafarge Cement WAPCO appoints new country CEO, Nigeria & Benin Republic09 October 2013, Published under Cement NewsLafarge Cement WAPCO announced the appointment of Guillaume Roux as the new Country CEO, Nigeria and Benin Republic, effective September 2013. He succeeds Jean-Christophe Barbant who has moved on to another responsibility within the Lafarge Group, after over four successful years in Nigeria. Also an executive Vice President in Lafarge Group, Mr Roux, who holds joint French and American nationality is a graduate of the Institut d'Etudes Politiques in Paris. He joined the Lafarge Group in 19... |
Steppe Cement revises Kazakh full-year market outlook08 October 2013, Published under Cement NewsSteppe Cement Ltd said Tuesday its third-quarter 2013 revenue was slightly ahead on the same period of last year and has upwardly revised its outlook for full-year Kazakhstan cement demand. For the three months to the end of September the company reported revenues of KZT7.24bn (US$46.9m), a marginal 0.13 per cent increase on the KZT7.23bn achieved in the corresponding quarter of 2012. For the nine months ended 30 September, Steppe Cement recorded revenue of KZT15.39bn compared to KZT14.9... |
JSW completes acquisition of HeidelbergCement India grinding unit08 October 2013, Published under Cement NewsJSW Steel has completed the acquisition of HeidelbergCement India’s 0.6Mta grinding plant in Raigad, Maharashtra, for an undisclosed sum. The two companies signed the Business Transfer Agreements for the acquisition on 5 October, both said in respective filings with the Bombay Stock Exchange. ??"The transaction will be consummated only after obtaining all relevant approvals required under applicable laws," it further said but did not disclose the value of the deal. The Raigad works was... |
Fitch rates Cemex outlook Stable07 October 2013, Published under Cement NewsFitch Ratings has assigned 'BB-/RR3' ratings to Cemex's proposed floating rate senior secured notes due in 2018 and senior secured notes due in 2021. The 2018 and 2021 notes will be guaranteed by Cemex Mexico, Cemex Concretos, Empresas Tolteca de Mexico, Cemex Espana, New Sunward Holding BV, Cemex Asia BV, Cemex Corp, Cemex Egyptian Investments BV, Cemex Egyptian Investments II BV, Cemex France Gestion, Cemex Research Group AG; Cemex Shipping BV and Cemex UK. The rating outlook for Cemex ... |