Cement News tagged under: corporate
Oman Cement output declines on mill setback02 August 2013, Published under Cement NewsOman Cement posted a 3.1 per cent rise in net profit for the first half of 2013 to OMR9.3m (US$24.2m) compared to OMR9m in the same period a year ago. Sales and output, however, fell partly due to the shutdown of one of its mills due to technical problems. The company produced 1.06Mt in the first half compared to 1.12Mt, 5.23 per cent. Total sales fell 2.6 per cent to OMR27.33m from OMR28.06m a year earlier. One of the company’s 150tph mills was shut for over a month but operations resumed ... |
Ashaka Cement first-half pretax profit falls 54.4%, Nigeria02 August 2013, Published under Cement NewsAshaka Cement reported a 54.4 per cent decline in first-half 2013 pretax profit to NGN1.65bn (US$10.3m) from NGN3.55bn a year ago. Turnover also fell to NGN11.81bn during the six months to June 30, compared to NGN12.26bn in the same period of last year. Askaka Cement, in which Lafarge holds a 59 per cent interest having increased this from 50 per cent last year. Is located in the northeastern state of Gombe. The firm owns a plant with a capacity of 0.85Mta and has initiated a programme to ... |
Vulcan sees main growth coming from the residential market, USA02 August 2013, Published under Cement NewsVulcan Materials' first-half turnover increased by 3.8 per cent to US$1276.9m and the EBITDA rose by 32.4 per cent to US$192m. The trading result swung from a US$26.6m loss into a profit of US$36.8m and after a net interest charge 2.2 per cent lower at US$103.6m, the pre-tax loss was reduced by 50.7 per cent to US$64.2m. The net attributable loss was reduced by 64.8 per cent, to US$31.5m. Capital investment is now increasing again and went up by 78.8 per cent to US$60m. Net debt declined... |
Standard & Poor’s downgrades China Shanshui Cement, China02 August 2013, Published under Cement NewsStandard & Poor's Ratings Services has lowered its long-term corporate credit rating on China-based cement producer China Shanshui Cement Group Ltd to 'BB-' from 'BB' due to a weakening of the company’s financial strength against a backdrop of challenging operating conditions. The outlook is negative. The agency also downgraded the company's outstanding senior unsecured notes to 'B+' from'BB-'. At the same time, S&P lowered its long-term Greater China regional scale rating on Shanshui to '... |
Calderys announces Indonesian joint venture02 August 2013, Published under Cement NewsRefactory solutions specialists Calderys has signed a joint venture (JV) agreement with Indonesian refractory manufacturer PT Indoporlen. Calderys, a subsidiary of Imerys of France, has been a partner of PT Indoporlen during over 30 years of service to the cement, tin, nickel, steel, aluminium and fertiliser industries (with Calderys known prior to 2005 as Lafarge Refractories). The JV was signed with Calderys as the majority shareholder and PT Indoporlen’s founding Halim family as the le... |
Russia and USA prove Dyckerhoff's only first-half bright spot01 August 2013, Published under Cement NewsGerman cement major and Buzzi Unicem subsidiary Dyckerhoff AG reported a decline in first-half sales volumes across all its market except Russia and the USA. Consolidated sales fell by six per cent. Group EBITDA was down by EUR3m which includes a one-time effect of EUR4m. In the previous year, one-time effects amounted to EUR5m. Pretax results were EUR10m, some EUR12m lower than the same period of last year. Net income after tax was EUR7m. For fiscal year 2013, Dyckerhoff expects group... |
Cementos Molins 1H profit falls 58%01 August 2013, Published under Cement NewsCementos Molins closed the first half-year with a profit of EUR8.3m, 58 per cent down on 1H12. The decline has been attributed to the poor performance of the Spanish subsidiaries, which recorded a EUR22.4m loss. The company’s overseas divisions returned a profit of EUR30.7m. The group's total turnover decreased by 8.6 per cent from the 1H12 and reached EUR416m. In Spain, the turnover decreased by 14 per cent. Abroad sales fell seven per cent due to lower contributions from Mexico and Ce... |
Siam Cement second-quarter net profit surges01 August 2013, Published under Cement NewsSiam Cement posted a surge in YoY net profit in the second quarter of 2013, boosted by strong earnings in its core businesses including its cement division. Thailand’s largest conglomerate doubled net profit for the April-June 2013 period to THB9.92bm (US$317m), up 132 per cent from THB4.28bn a year ago. Revenue increased six per cent in the second quarter from a year earlier to THB106.5bn. The company said it received THB2.9bn in dividend contributions from SCG Investment during the pe... |
Eurocement plans full ownership of Ahangaran Cement, Uzbekistan01 August 2013, Published under Cement NewsRussia-based Eurocement Holding AG is planning to increase its stake in Uzbekistan's second largest cement producer Ahangaran Cement up to 100 per cent. Currently, Eurocement Holding AG owns 83.9186 per cent or 4,136,269 shares in the company.???According to reports by Uzbekistan Daily, it now plans to acquire an additional 792,637 shares, or 16.0814 per cent stake in the company, Uzbekistan Daily reported. Should the deal proceed, Eurocement Holding AG will own 4,928,906 shares in Aha... |
Fitch upgrades Cemex to B+01 August 2013, Published under Cement NewsFitch upgraded its foreign and local issuer default rating of Cemex to B+ from B, the ratings agency said in a report. The upgrade is based on Cemex's improved capital structure and "the gradual improvement in the US cement market and an improving outlook for the growth in the company's EBITDA and cash flow," Fitch said. Fitch's action also takes into account the "improved confidence of the capital markets," as a result of Cemex's debt refinancing and the IPO of its Latin America subsid... |