Cement News tagged under: corporate
Pakistan FDI increases substantially16 April 2013, Published under Cement NewsPakistan's cement industry received US$6.3m in foreign direct investment (FDI) between the July 2012-March 2013 period, the country's Central Bank reported on 16 April. The amount is 294 per cent more than the corresponding period of the previous year (July 2011-March 2012), when FDI was US$1.6m. |
Tangshan Jidong Cement net profit drops 88.19%, China16 April 2013, Published under Cement NewsTangshan Jidong Cement net profit drops 88.19 per cent, China Co Ltd net profit slumped 88.19 per cent, the company said in a statement. Operating revenue slid 7.09 per cent YoY to CNY14.61bn (US$2.36bn), with basic earnings per share of CNY0.13. The company plans to pay a cash dividend of CNY1 (including tax) for every ten shares held. Jidong Cement plans to produce 72Mt of cement in 2013, a YoY increase of 20 per cent. |
CRH names five representatives to Cementos Lemona board, Spain16 April 2013, Published under Cement NewsCRH has named five representatives to the board of directors of Spanish cement producer Cementos Lemona. In February, CRH acquired Cementos Lemona in exchange for its 26.4 per cent stake in Cementos Portland Valderrivas. The five new members joined the board after a recent extraordinary shareholders meeting. Minority shareholders will not have representatives on the board. Cementos Lemona has a 1.25Mta cement capacity near Bilbao, Spain, and operates Southern Cement in Ipswich, England. |
Saudi Cement net profit rises on improved efficiency16 April 2013, Published under Cement NewsSaudi Cement Company said net profit in the first quarter of 2013 rose 4.5 per cent YoY, attributed to an increase in output thanks to improved operating efficiency. Net profit for the three months ending 31 March 2013 reached SAR340.3m (US$90.6m), compared to SAR325.6m posted in the same period of last year. The increase was also a 22.5 per cent rise on the SR277.7m recorded in the previous quarter, the company said in a filing to the Saudi bourse. The QoQ advance was attributed to in... |
Fitch affirms Siam City Cement rating, outlook Stable15 April 2013, Published under Cement NewsFitch Ratings (Thailand) Limited has affirmed Siam City Cement Public Company Limited's (SCCC) National Long-Term rating at 'A(tha)', its National Short-term rating at 'F1(tha)' and its senior unsecured debentures at 'A(tha)'. The Outlook is Stable. The ratings reflect SCCC's leading market position as the second-largest cement and ready mixed concrete producer in Thailand. This has helped maintain reasonable EBITDA and EBITDA margin despite pressure from price competition and higher ener... |
Vinaconex plans to sell stake in Cam Pha Cement, Vietnam12 April 2013, Published under Cement NewsVietnam Construction and Import-Export JSC (Vinaconex), plans to sell a 70 per cent stake in Cam Pha Cement JSC as it continues with its plan to divest in non-core operations. Vinaconex is seeking shareholders approval to sell the shares to foreign partners at below the par value of VND10,000 each, but not lower than Cam Pha’s book value. According to local press reports, two companies have expressed an interest in buying shares in Cam Pha Cement. Last year, the company posted a loss o... |
Improved outlook for Asia Cement Corp in 201312 April 2013, Published under Cement NewsTaiwanese producer Asia Cement Corp is expected to return to a path of growth this year driven in part by earnings growth from its operations on mainland China, a recent report by HSBC has said. Last year, Asia Cement’s net profit plunged 38 per cent to TWD6.24bn (US$208.3m), which was 16 per cent lower than HSBC’s forecast. However, the Taipei Times reports that HSBC analyst Elaine Lam retained her “neutral” rating on Asia Cement, with an unchanged 12-month target price of NT$36.45, repr... |
Sinoma makes Indian acquisition12 April 2013, Published under Cement NewsSinoma International Engineering (Hong Kong) Co Ltd, part of China National Materials Group Corporation Ltd, has acquired a majority stake in India-based cement equipment manufacturer LNV Technology Pvt Ltd. According to the agreement, Sinoma International Engineering has purchased a 68 per cent share in LNV Technology while joint venture partners Mr VC Rao, managing director of the Chennai-based firm and LV Technology Public Co Ltd, hold around a 16 per cent equity share each in the comp... |
Tanga Cement annual sales reach record high, Tanzania11 April 2013, Published under Cement NewsTanga Cement said its cement sales last year crossed the 1Mt mark – the highest in the Tanzanian cement producer’s history. Sales at the company, which produces the Simba Cement brand, rose by 21 per cent to TZS257.92bn (US$158.8m) thanks to increased exports which rose by 55 per cent YoY. Pretax profit rose to TZS55.93bn from TZS37.08bn an net profit increased by 52 per cent YoY. Commenting on the performance, acting chairman Professor Samuel Wangwe said: "The sales volume increase ma... |
Moody's: West China Cement's medium-term notes issuance is credit positive11 April 2013, Published under Cement NewsMoody's Investors Service says West China Cement's (WCC) issuance of medium-term notes (MTN) totalling CNY800m (US$129m) for three-years at 6.1 per cent is credit positive. The notes were issued on 28 March 2013 through WCC's indirectly wholly owned onshore subsidiary Yaobai Special Cement Group Co Ltd, which owns the vast majority of the group's assets in Mainland China. The proceeds from the MTN issuance will be used to refinance onshore bank loans, expand production facilities and for g... |