Cement News tagged under: corporate
Temasek Holdings in line for Lafarge India stake?14 February 2013, Published under Cement NewsTemasek Holdings is reportedly among those shortlisted by Lafarge as a potential buyer for a minority stake in its Indian arm. Lafarge India plans to sell a 20-30 per cent stake to raise INR1325m (US$250m) to fund its INR6000 crore expansion, according to reports by the Economic Times (ET) of India. The sale of the stake is slated for completion by March. Lafarge has decided not to raise more debt to fund its capex but is instead looking at equity financing. Temasek Holdings is an inv... |
Saudi Cement net profit rises 32.3% in 201214 February 2013, Published under Cement NewsSaudi Cement Company said today its net profit for 2012 rose 32.3 per cent YoY to SAR1.1bn (US$293m) thanks to higher demand. Earnings per share stood at SAR7.2, up from SAR5.43 a year earlier. The operating profit rose to SAR1.14bn in the 12 months to December 2012 from SAR865.1m in 2011. |
Cementos Molins cuts back in Spain while expanding in foreign markets13 February 2013, Published under Cement NewsAs the Spanish construction crisis shows no sign of abatement, Cementos Molins expects to continue the adjustment in its Spanish workforce. The company’s vice-president and CEO Joan Molins said the company would be restructuring its operations, cutting back in Spain and increasingly shifting its focus to foreign markets. He announced new projects in Uruguay, Brazil, Mexico and Tunisia. Over the past five years, the firm increased its number of employees abroad from 2500 to 3200. In a... |
Portland Valderrivas explores sale of Cemento Lemona to CRH13 February 2013, Published under Cement NewsSpain’s Cementos Portland Valderrivas is currently considering the sale of its Basque subsidiary Cementos Lemona to the Irish multinational CRH. Yesterday, CRH directors visited the facilities of Prefabricades Lemona. This follows a visit last month to the Lemona’s quarries and cement plant, according to Spanish daily El País. Sources indicate that after months of negotiation, the acquisition process is in its final stages although there has been no confirmation of the sale yet. Portla... |
FLSmidth orders up 15% while EBITDA rises 9% in 201212 February 2013, Published under Cement NewsIn its newly-released 2012 annual report, Denmark-based cement plant maker FLSmidth & Co A/S announced a 15 per cent increase in its order intake, bringing the figure to DKK27.727bn (US$4.98bn) in 2012. Its revenues increased by over a fifth from DKK27.136bn to DKK29.451bn. The company also reported an EBITDA rise of nine per cent to DKK2.759bn, giving an EBITDA margin of 11.1 per cent, slight lower than the previous year’s figure of 12.3 per cent. The cement division operated in a market... |
The Philippines: Southeast Asia Cement reports eightfold profit growth in 201212 February 2013, Published under Cement NewsSoutheast Asia Cement Holdings Inc (Seacem) grew its profits by more than eightfold last year, the company said. "The board of directors approved the separate audited financial statements of the corporation for the fiscal year ended 31 December 2012, showing a profit for the year of PHP3753m (US$92.2m) for the parent company," Seacem said. Last year's profits are a big jump from the PHP449m earned in 2011, the company said in an e-mail yesterday when sought for details. Seacem became a ... |
India: Orient Paper & Industries' Cement sales at 317,065t in January 201312 February 2013, Published under Cement NewsOrient Paper & Industries Ltd has reported that the operational performance of the company's cement division for January 2013 was 315,997t, while domestic cement sales for the month were at 317,065t. The Orient Paper & Industries Ltd stock was trading at INR73, down by INR0.05 or 0.07 per cent. The stock hit an intraday high of INR74.75 and low of INR71.10. |
Buzzi Unicem: Russia and America perform well11 February 2013, Published under Cement NewsBuzzi Unicem turnover edged ahead by 0.9 per cent last year to €2813m, of which Dyckerhoff contributed an almost unchanged €1603m. The underlying EBITDA, which will be announced on 28 March, is estimated to be around €450m. Net debt at the end of December had been reduced by 1.6 per cent to €1125m. Group cement deliveries declined by 3.4 per cent last year to 27.3Mt, but they were ahead in the Russia, the USA and Mexico. Ready-mixed concrete deliveries were down 9.5 per cent to 13.6Mm³ in sp... |
Oman: Raysut Cement's profits rise11 February 2013, Published under Cement NewsRaysut Cement Co (RCC), the sultanate's biggest cement producer, announced a 64.1 per cent growth in net profit at OMR24.53m (US$63.7m) for 2012, against OMR14.95m posted for the previous year. The company said its revenue also moved up to OMR92.8m from OMR83.81m , while cost of sales was edged up to OMR62.88m from OMR61.86m. "Net profit of OMR7.7m for the fourth quarter (65 per cent YoY growth), was higher than our estimate of OMR5.9m, as RCC booked an investment gain of OMR1.36m. Exclu... |
Cemex full-year turnover eases, EBITDA improves08 February 2013, Published under Cement NewsCemex has reported its full-year 2012 results which show decline in turnover but advance in EBITDA. Net debt is reduced but interest charge and gearing rise. Cemex' turnover eased by 1.5 per cent in 2012 to US$14,983.8m, but EBITDA did improve by 10.2 per cent to US$2614.7m and the trading profit advanced by 35.3 per cent to US$1308m, having recovered by 12.2 per cent in the previous year from its low point. The net interest charge continued to rise and was ahead by five per cent to US$14... |