Cement News tagged under: corporate
Holcim and Cemex to swap, combine assets in Europe28 August 2013, Published under Cement NewsHolcim and Cemex have reached an agreement to conduct a series of transactions to exchange and combine assets in parts of Europe with the aim of improving synergies and boosting operating profit. Cemex increase its presence in Central Europe through the acquisition of Holcim Cesko in the Czech Republic. The deal includes one cement plant (cement and clinker capacities of 1.1Mta and 0.9Mta, respectively), four aggregate quarries and 17 ready-mix plants. Holcim said it will continue to serve... |
Cimpor boosted by South American operations28 August 2013, Published under Cement NewsCimpor's underlying first half turnover improved by 19.6 per cent to EUR1299.8m as the company is boosted by its new South America operations but Portuguese losses more than double. EBITDA for the six month period advanced by a more modest 6.3 per cent to EUR284.2m. Ignoring non-recurring charges, the EBITDA would have been some 19 per cent ahead a EUR331m, while the improvement on the re-stated last year numbers was 28.1 per cent. On this basis, the trading profit increased by 34.6 per c... |
Buzzi Unicem completes buy-out of Dyckerhoff shares28 August 2013, Published under Cement NewsBuzzi Unicem said on Tuesday that the squeeze-out of all outstanding ordinary and preferred shares in German-based Dyckerhoff AG still held by minority shareholders was recorded in the Commercial Register in Germany. As a result, as of 27 August 2013, the Italian cement major holds 100 per cent of Dyckerhoff. The payment to the minority shareholders of the cash compensation equal to EUR47.16 per share for a total EUR65.3m is expected to be carried out on 30 August 2013. The stock excha... |
China Shanshui Cement 1H hit by lower prices27 August 2013, Published under Cement NewsChina Shanshui Cement recorded a YoY drop in net profit attributable to shareholders in the first six month of 2013, as the group faced pricing pressures in key operating regions. Net profit attributable to equity shareholders for the six months ended 30 June 2013 dropped 52.2 per cent YoY to CNY348m. The basic and diluted earnings per share were CNY12 cents. Revenue was CNY7.07bn, a decrease of 4.2 per cent from a year earlier. Gross profit margin dropped to 22.7 per cent from 24.9 per ce... |
UltraTech poised for Jaiprakash's Gujarat units27 August 2013, Published under Cement NewsUltraTech Cement is said to be in advanced stages of discussions to acquire the Gujarat-based cement units of Jaiprakash Associates, local media have reported. Sources familiar with the deal told Business Standard of India that the cement units are to be sold at a valuation of US$130/t, lower than the US$160/t Jaiprakash had earlier been seeking. Jaiprakash's cement facilities in the state of Gujarat have a combined cement capacity of 4.8Mta and will help UltraTech Cement, India’s larges... |
Ha Tien 1 issues new shares for debt reduction, Vietnam27 August 2013, Published under Cement NewsHa Tien 1 Cement JSC (HT1) has approved a plan to issue 120 million new shares in a private placement to Vietnam Cement Industry Corporation (Vicem), the country’s leading cement producer. The issuance is aimed to reduce its loans contracted with Vicem, HT1 said in a statement sent to the bourse. After the issuance, Vicem’s holding in HT1 will increase to 79.69 per cent, equal to 253.42 million shares, from the current 67.38 per cent, Vietnam News Brief reported. At end-June, HT1 had VND4.... |
Lafarge Pakistan Cement earnings rise27 August 2013, Published under Cement NewsLafarge Pakistan Cement posted earnings growth of 73.6 per cent in the first half of the year. According to a notice sent to the Karachi Stock Exchange the company’s profits jumped to PKR865m with earnings per share (EPS) of PKR0.66 compared to PKR499m (EPS of PKR0.38), in the same period of 2012. |
Prosperity Minerals completes sale of TCC Liaoning Cement, China27 August 2013, Published under Cement NewsProsperity Minerals has completed the sale of its 16.11 per cent stake in China-based TCC Liaoning Cement to TCC International Holdings. All the necessary approvals were obtained and the disposal was completed on 22 August 2013, Prosperity said. As per the agreement, around US$18.7m, or 80 per cent of the total consideration, has been paid to Prosperity and around US$3.5m will be paid to the company within five working days following completion. The balance will be retained by TCC I... |
Higher demand lifts Yamama 1H net profit, Saudi Arabia27 August 2013, Published under Cement NewsSaudi-based producer Yamama Cement Company reported a 11.7 per cent YoY rise in first half net profit thanks to a rise in sales due to higher local demand. For the first six month of the year, profit climbed to SAR544m (US$145m), up from SAR487m in the same period of last year. Gross profit rose to SAR562m from SAR526m a year earlier. |
China's Sinoma profit falls as turnover climbs26 August 2013, Published under Cement NewsChina National Materials Co Ltd, Sinoma Group (China), has reported mixed results for the first six months of 2013. While turnover over the period moved ahead 6.9 per cent to CNY21.8bn (US$3.6bn), net profit for the period fell 38.8 per cent to CNY101.2m (US$93.9m) from CNY165.3mn a year earlier. The company's cement production division recorded revenues of CNY10.322bn (US$1.686bn), up 15.2 per cent YoY, which was mainly due to the increase in sales volume resulting from the commissioning o... |