Cement News tagged under: corporate
Votorantim Cimentos files request for IPO of shares10 April 2013, Published under Cement NewsBrazilian cement and concrete producer Votorantim Cimentos SA has filed a request with regulators to list its shares in the local stock exchange to finance its expansion plans. In its preliminary prospectus, the company did not reveal the amount to be raised or the volume of shares to be sold. In January, Dow Jones reported the company was planning to raise around BRL6bn (US$3bn) from an IPO, citing two bankers close to the matter. The sale must be approved by the Brazilian Securities... |
Yamama Cement 3Q net profit remains flat YoY10 April 2013, Published under Cement NewsSaudi cement producer Yamama Cement Company said yesterday that according to preliminary results, its net profit stood at SAR277m (US$73.9m) for the first quarter of 2013, almost unchanged from SAR278m a year ago due to lower prices. The earnings per share remained stable at SAR1.37. Gross profit declined to SAR293m from SAR300m. |
Steppe Cement's quarter sales volumes slip 2%09 April 2013, Published under Cement NewsKazakhstan-based producer Steppe Cement reported a two per cent drop in sales volumes for the first three months of the year. In a recent trading statement, the company said it sold 166,121t of cement in 1Q13 compared to 170,080t in the 1Q12. However, revenue rose 13 per cent YoY to KZT2272m (EUR11.6m). The company said it chose to maintain high cement prices during the quarter due to production constraints in the last quarter as a result of an exceptionally harsh winter. “We expect to... |
Yanbu Cement 1Q13 net profit surges on expansion, Saudi Arabia09 April 2013, Published under Cement NewsYanbu Cement announced that, according to preliminary figures, its net profit for the first quarter of 2013 surged by 70 per cent YoY, on the back of increased capacity. Net profit for the three months to the end of March 2013 rose to SAR247m (US$65.9m) according to the preliminary data. Earnings per share stood at SAR1.57, up from SAR0.92. "The increase in the current quarter profit compare with the same quarter for the previous year due to increase in sales quantity due to start Line... |
German Federal Court confirms HeidelbergCement’s cartel fine09 April 2013, Published under Cement NewsGermany’s Federal Court has confirmed the 2009 fine imposed on HeidelbergCement by the Higher Court of Düsseldorf at a reduced level of EUR161.4m, the German cement major said in a statement on Tuesday. “We have to accept the verdict of the Federal Court of Justice, and we state that the law suit has now been concluded after a long period of time,” says Dr Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. HeidelbergCement and other cement producers were initially... |
Camargo Correa plans to raise capacity by 201608 April 2013, Published under Cement NewsCamargo Correa plans to invest up to BRL3bn (US$1.51bn) in the Brazilian cement sector in the next few years. With the acquisition and control of Portuguese cement maker Cimpor last year, Camargo Corrêa, through its cement arm InterCement, became the second largest producer of cement in Brazil, with market share being propelled from 10 to 18 per cent. With market growth in Brazi expected to be between 5-6 per cent per year in the medium-term, the company intends to invest BRL2.5bn-3bn by... |
ACC plans capex of INR33bn in 201308 April 2013, Published under Cement NewsACC Ltd, India's second-largest cement producer, has planned a capital expenditure of INR33bn (US$603.9m) in 2013, most of which will be used for the expansion of an existing unit at Jamul in Chhattisgarh. ACC has started work on the Jamul expansion project, which will add 5Mta of capacity, Chairman NS Sekhsaria said while addressing shareholders at the company's 77th annual general meeting (AGM). The expansion, to be completed in a phased manner by 2015, will take ACC's total capacity t... |
Goldman Sachs upgrades Titan, Greece05 April 2013, Published under Cement NewsGoldman Sachs has upgraded Titan Cement Co to neutral from sell, Dow Jones reports. While the investment bank remains cautious on Titan's end markets in the near term, it says consensus FY13/14 EBITDA expectations have decreased by 10 per cent year-to-date and there is no longer such a significant difference versus Goldman's estimates. Titan's turnover recovered by 3.6 per cent last year to EUR1130.7m, following the 19.2 per cent drop in the previous year. The EBITDA, however, continued ... |
UK construction declines for fifth straight month05 April 2013, Published under Cement NewsUK construction sector shrank for the fifth consecutive month in March but expectations for the sector have improved. Markit’s latest purchasing managers’ index (PMI) for constructors came in at 47.2 last month – up from 46.8 in February, but still below the 50 mark that indicates no change. Eight of the last 10 months have seen activity of the construction industry decline, the data shows. “The construction sector seems to have a spring in its step as confidence hit its highest level... |
Greece opposition party meets with Heracles employees05 April 2013, Published under Cement NewsThe general secretary of Greece’s Opposition Communist Party of Greece (KKE), Aleka Papariga, has met with representatives of the Heracles Cement plant at the party's headquarters in Perissos and expressed solidarity with those being made redundant following news of the cement plant's permanent closure. The KKE stated that the sector's trade unions, as well as related sectors, should offer their backing to workers who were laid off, Athens News Agency reported. Last month, Lafarge's Greek ... |