Cement News tagged under: corporate
BBMG Corp sees fall in net profit on lower prices, China16 January 2013, Published under Cement NewsBBMG Corporation said its preliminary net profit attributable to shareholders dropped 26.48 per cent YoY to CNY2.52bn (US$405) in 2012 mainly due to a decline in selling prices for its products. The Chinese cement producer said basic earnings per share were CNY0.59, a decline of 27.16 per cent from a year earlier. Total operating revenue was CNY33.29bn, representing a YoY rise of 15.83 per cent. Operating profit fell 21.7 per cent to about CNY2.8 billion. |
Lafarge to invest BRL1bn in Brazil over next five years15 January 2013, Published under Cement NewsLafarge is to invest BRL1bn (US$500m) in Brazil in the five years to 2018, according to the group’s chairman and chief executive Bruno Lafont. During a meeting with Brazil’s president Dilma Rousseff in Braslia, Mr Lafont said the organic investment is being made to keep with growth of the local market. “Brazil has true potential for growth. The investment needs in infrastructure and in the housing sector show that the country has much margin for growth,” he noted. Among the new inve... |
India Ratings revises outlook on cement sector15 January 2013, Published under Cement NewsIndia Ratings has revised its outlook for Indian cement manufacturers from "negative" in 2012 to "stable to negative" for 2013, driven by limited downside risk for demand. The ratings agency also expects consolidation in the medium-to-long-term with large M&A activities, according to a report. "We expect consolidation in cement industry in the medium-to-long-term with large M&A activities in the sector," the rating agency said. The agency expects credit profiles of large cement firms... |
Siam Cement in talks for European acquisitions15 January 2013, Published under Cement NewsSiam Cement is in talks to buy building materials, petrochemical business in Europe, according to its chief executive Kan Trakulhoon. Mr Trakulhoon told reporters that the company would invest about THB200bn (US$6.6bn) in five years from 2013, mainly in ASEAN countries. At least one fifth of that amount (THB40bn) will be spent in 2013, he added. Mr Trakulhoon, however, did not specify which companies Siam Cement will target. |
Thach My secures new loan, Vietnam15 January 2013, Published under Cement NewsThe Bank for Investment and Development of Vietnam (BIDV) is to provide a loan to Thach My for its new cement plant under construction in the central province of Quang Nam Local media report that the BIDV will loan nearly VND2trn (US$95.83m) to the plant which has a design capacity of 2Mta. The plant was identified as a key project of the Quang Nam province when it started construction in 2010. The new works is expected to be completed in June 2013. |
Jiangxi Wannianqing expects 60-70% profit fall, China15 January 2013, Published under Cement NewsJiangxi Wannianqing Cement Co Ltd estimates that its net profit decreased 60-70 per cent YoY in 2012, compared with a net profit of CNY506m (US$81.4m) in 2011. The company Shenzhen-listed producer of cement and clinker, |
PCA appoints Ed Sullivan as Vice President, USA14 January 2013, Published under Cement NewsThe Portland Cement Association (PCA) has appointed Edward Sullivan as group vice president in addition to his role as chief economist. Sullivan will oversee the activities of the Association's communications, research and technical services, and market development divisions, as well as his current role as the head of market intelligence. Since joining the PCA in 2002, Sullivan has been lauded numerous times by the Chicago Federal Reserve for his forecast accuracy. In 2007 Concrete Co... |
Lafarge sells aggregate quarries in Georgia11 January 2013, Published under Cement NewsLafarge announces it has signed binding agreements for the sale of six aggregates quarries in Georgia (USA) for a total enterprise value of US$160m. These assets represent less than one cent of the company's sales in North America in 2011. These transactions are subject to relevant approvals. "With these divestments in a region where Lafarge is present only through its aggregates operations, the group pursues its strategy of focusing on most promising geographic areas where we have int... |
Vicem net profit rises 36% YoY11 January 2013, Published under Cement NewsVietnam Cement Industry Corporation (Vicem) said it made a net profit of VND660trn (US$31.62bn) in 2012, rising by 36 per cent from a year earlier, despite a fall in domestic demand and economic difficulties. The corporation sold more than 20Mt of cement in 2012, rising by nine per cent YoY and contributed VND1trn to the state budget, up eight per cent YoY. Vicem has control over production levels at the majority of Vietnam’s cement plants, including many Joint-Stock Companies (JSC) a... |
HeidelbergCement Ukraine appoints board chairman11 January 2013, Published under Cement NewsThe supervisory board of HeidelbergCement Ukraine has appointed Tide Silvio as the company's board chairman on 9 January, the company said in the press-release. Silvio has been elected to chair the board for three years. He had previously been a HeidelbergCement manager in Northern Russia. |