Cement News tagged under: corporate
China Tianrui to issue unsecured bills, China28 January 2013, Published under Cement NewsChina Tianrui Group Cement Co is to issue CNY2bn (US$321m) in unsecured bills with a maturity of 365 days on the interbank market on 31 January. The company, which is a leading clinker and cement producer in Henan and Liaoning provinces, said that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on 1 February, and the to-be-issued bills tradable 4 February. All the proceeds from the issue will b... |
Penna Cement plans packaging unit, India28 January 2013, Published under Cement NewsPenna Cement Industries is planning a 1Mta cement packaging unit at Panvel, district of Raigad, Maharashtra, India. Land acquisition is currently underway and the project is planned for completion in 18 months. Penna Cement has a total installed cement capacity of 7Mta spread across four facilities: Talaricheruvu, Anantapur (1.8Mta); Boyireddypalli, Andhra Pradesh (2Mta); Ganeshpahad village, west Andhra Pradesh (1.2Mta) and Tandur, central-west Andhra Pradesh (2Mta) |
Xinjian Tianshan Cement expects 75 per cent net profit drop, China28 January 2013, Published under Cement NewsXinjiang Tianshan Cement Co Ltd, a Shenzhen-listed cement producer, estimated 25 January that net profit for 2012 to be about CNY305m (US$49m), a a YoY decline of 75 per cent. |
Dyckerhoff to take impairment charge on Russian project25 January 2013, Published under Cement NewsGerman cement major said it is to take an impairment charge of approximately EUR26m on fixed assets due to a cement project in Russia that was halted in 2009. Due to the impact of the global financial crisis, Dyckerhoff stopped construction of the new plant and construction has not resumed to-date. Following an extensive analysis conducted by the company, Dyckerhoff has said that construction of the project at the planned location “is not assured in the foreseeable future.” Therefore an i... |
Taiheiyo Cement lowers gearing, Japan25 January 2013, Published under Cement NewsTaiheiyo Cement’s net debt-to-equity ratio is likely to drop to 2.4 by the end of the current fiscal, an improvement on the 2.6 from a year earlier and under 2.5 for the first time in five years. According to a Nikkei Report, in the financial year ending 31 March, Japan's leading cement producer's cash flow has improved thanks to growth in cement sales which have been bolstered by earthquake reconstruction efforts. The company has also scaled back investments and sold assets. The balan... |
Huaxin to acquire stakes in two Hubei-based companies, China24 January 2013, Published under Cement NewsHuaxin Cement is continuing its acquisitions policy by announcing it plans to acquire stakes in two companies based in Hubei province. The Chinese producer is set to buy a 70 per cent share in two separate companies for a combined price of CNY519m (US$83.4m). Huaxin Cement said that the acquisition will increase its competitiveness in the local cement market. Huaxin Cement is 41.6 per cent controlled by Swiss cement major Holcim. |
Boral lifts 1HFY13 net profit guidance, Australia23 January 2013, Published under Cement NewsBoral Ltd today announced that following stronger-than-expected performance in the December 2012 quarter, it expects net profit after tax (before significant items) for the first half of FY13 to be approximately AUD52m, subject to finalisation of the audit review. At its 2012 Annual General Meeting on 1 November, the company had said that it expected Boral’s first half FY13 net profit after tax (before significant items) to be comparable with that achieved in the second half of FY2012, whic... |
Sabanci Holdings on the cement acquisition trail, Turkey23 January 2013, Published under Cement NewsTurkish industrial group Sabanci Holdings is reportedly on the acquisition trail both at home and abroad as it seeks to double its capacity in five years. The group is currently active in the Turkish market through Akcansa (which is a joint venture with HeidelbergCement) and Cimsa with a combined domestic cement capacity of 13Mta. Speaking to Bloomberg, Mehmet Gocmen, head of Sabanci’s cement group said the company is planning growth through deals in Turkey and nearby countries as Turk... |
Oman Cement net profit rises 37% in 201223 January 2013, Published under Cement NewsOman Cement Company announced a 37 per cent rise in net profit in 2012 following a rise in revenue. Net profit for the 12 months to December 2012 climbed to OMR17.5m (US$45.5m) from OMR12.8m from the year before. Revenue rose to OMR59.3m in 2012 from OMR50.7m the year before. Total expenses stood at OMR39.6m, up from OMR36.2m. Oman’s cement sector, which had previously been experiencing problems due to a dampening of demand in the UAE cement sector, registered positive growth in 2012 t... |
Dr Ahmed Zugail returns to Yanbu Cement, Saudi Arabia23 January 2013, Published under Cement NewsSaudi-Arabia based Yanbu Cement Company (YCC) has announced that Dr Ahmed A Zugail has taken up his position as new Director General/CEO, effective 1 September 2012. Dr Zugail succeeds Dr Saud Islam following his recent retirement. Dr Zugail, a Mining Engineer with a doctorate in Mineral Economics from the Colorado School of Mines, USA, joins YCC with a rich experience in the cement industry. His previous role was as President/CEO of Najran Cement for six years. The new position at YCC... |