Cement News tagged under: corporate
Goldman positive on Eastern China markets23 April 2013, Published under Cement NewsGoldman Sachs said it remains positive on China's cement sector but continues to be regionally and stock selective. The investment bank expects further upside to cement prices in Eastern China, given its current lowest inventory across the regions, and least new capacity additions in the year, benefiting Anhui Conch and CNBM. However, Northern/Southern China's cement prices are already under pressure from high inventory/overcapacity. Goldman estimated NSP capacity to increase by 11 and 1... |
MPA survey indicate further decline in UK construction activity22 April 2013, Published under Cement NewsSurvey results by the Mineral Products Association (MPA) results for the first quarter of 2013 confirm the slow start to UK construction activity in 2013 and it has expresed the urgent need for accelerated delivery of promised funding and projects. However, while construction output is expected to decline again this year, the Construction Products Association has forecast a recovery in 2014 and beyond. Compared with the first quarter of 2012, MPA data released Friday shows sales of const... |
Eastern Province Cement Co net profit rises 4.8% YoY22 April 2013, Published under Cement NewsEastern Province Cement Co has announced a 4.8 per cent YoY rise in net profit to SAR109m (US$29m) in 1Q13 compared to SAR104m in the same period of last year. The increase is attributed to the improved results of an associated company and increases in other incomes. Compared to the previous quarter, net profit rose 2.8 per cent from SAR106m in 4Q12 attributed to increases sales and a decrease in general administrate expenses. |
BBMG expects to post first-quarter loss22 April 2013, Published under Cement NewsChina-based cement producer BBMG Corp said it expects to record a loss attributable to shareholders of about CNY60m (US$9.7m) for the first quarter of 2013 compared to CNY294m profit in the same period of last year. The loss is attributed to lower selling prices in the areas in which BBMG’s subsidiaries operate due to lower demand. (Source: ET Net News Agency). |
DG Khan reports strong rise in 9MFY12 net profit19 April 2013, Published under Cement NewsDG Khan Cement Company (DGKC) registered a net profit of PKR4.2bn (US$42m) compared to PKR2.1bn in the first nine months of the fiscal year, an increase of 105 per cent. Revenues increased by nine per cent YoY during the period due to higher price realisations while the cost of sales stayed relatively controlled mainly due to lower coal prices, and were up only one per cent YoY. This enabled the company to record a gross margin of 38 per cent compared to the 33 per cent recorded in the sam... |
Votorantim Cimentos files for US$5.4bn IPO18 April 2013, Published under Cement NewsBrazil’s leading cement producer, Votorantim Cimentos SA, filed on Wednesday with the Securities and Exchange Commission (SEC) to raise up to US$5.4bn in an initial public offering of its units. Votorantim will list shares in Brazil and American depositary receipts on the New York Stock Exchange, according to a US regulatory filing yesterday, pushing the total amount of pending IPOs in Brazil to US$12.7bn. The company did not disclose the number of units it planned to sell and their expecte... |
Argos share offering open for 15 days, Colombia18 April 2013, Published under Cement NewsColombia's largest cement maker, Cementos Argos, has opened for offers 250m preferred shares, a bookbuilding process to end on 8 May 2013 to raise between (US$1.05bn-US$1.27bn). Argos has set a range of between COP7700 and 9300 Colombian pesos ($4.20 to $5.07) per share for the offering, the company said in a statement published in local media. Argos said it will issue the shares in two stages. The company will first offer 182 million preferred shares, and plans to do a second issuanc... |
Attock Cement quarterly profit higher on increased prices, Pakistan17 April 2013, Published under Cement NewsPakistan-based producer Attock Cement reported a 40 per cent rise in profit during the January-March 2013 quarter, driven by higher prices. Profit rose to PKR520m (US$5.3m) during the period compared to PKR371m in the corresponding period of 2012. With cement demand subdued during the winter period, the advance was attributed to increased prices. Cement prices averaged PKR438/bag (US$4.45) against PKR402 in the corresponding quarter of 2012. Additionally, federal excise duty was reduced by... |
Cementos Argos to issue shares to finance expansion, Colombia17 April 2013, Published under Cement NewsColombia’s largest cement producer Cementos Argos plans to issue up to 250m preferred shares to finance an expansion plan, the company said on Tuesday. Argos has set a range of between COP7700-9300 (US$4.20 to US$5.07) per share for the offering, the company said in a statement to Colombia's financial regulator. Argos is expected to give more details later this week, according to market sources. |
Ciments Francais names Jean-Paul Meric chairman, France17 April 2013, Published under Cement NewsFrench cement producer Ciments Francais has promoted deputy director general Jean-Paul Meric to chairman, replacing Yves-Rene Nanot. Mr Nanot has been nominated honorary chairman of the company and will continue as a director, taking part in the work of the board. "The close collaboration established with Yves René Nanot shortly after the acquisition of Ciments Français by Italcementi has enabled one of the greatest industrial successes in the Europe of the 2000s, recalls Giampiero ... |