Cement News tagged under: corporate
Mixed bag of Q3FY13 earnings for Indian cement producers10 January 2013, Published under Cement NewsA weakness in cement prices and softening demand in the region is expected to hit Q3FY13 earnings of some of India’s cement producers. Only ACC and Ambuja are forecast to record a YoY earnings growth, says research house Jefferies. Grasim, ICEM and UltraTech are predicted to see more modest earnings. Ambuja should benefit from a 1.2 per cent YoY rise to 5.8Mt in cement and clinker volumes. Average realisation is anticipated to improve nine per cent YoY, largely cancelling out the two per ... |
Mixed bag of Q3FY13 earnings for Indian cement producers10 January 2013, Published under Cement NewsA weakness in cement prices and softening demand in the region is expected to hit Q3FY13 earnings of some of India’s cement producers. Only ACC and Ambuja are forecast to record a YoY earnings growth, says research house Jefferies. Grasim, ICEM and UltraTech are predicted to see more modest earnings. Ambuja should benefit from a 1.2 per cent YoY rise to 5.8Mt in cement and clinker volumes. Average realisation is anticipated to improve nine per cent YoY, largely cancelling out the two per ... |
Texas Industries increases volumes, USA10 January 2013, Published under Cement NewsDuring the first half of its financial year (to the end of November), Texas Industries increased volumes and reduced losses and is on schedule to complete commissioning of its new kiln line this spring. The company's turnover rose by 9.1 per cent to US$342.2m. The interest charges declined by 16.7 per cent to US$15.3m and the pre-tax loss was reduced by 41.6 per cent to US$18.4m. The corporate activities incurred a loss 69.6 per cent higher at US$20.9m. Even after a reduced tax credit, t... |
Lafarge announces joint venture with Elementia, Mexico09 January 2013, Published under Cement NewsLafarge announces it has reached an agreement with Elementia to combine their cement assets in Mexico. Lafarge will bring its two plants of Vito and Tula for a total capacity close to 1Mta, while Elementia will contribute the new 1Mta plant it is currently building in central Mexico. This combination will significantly strengthen Lafarge's position in Mexico. The transaction, which involves no cash and is subject to regulatory approvals, is expected to close in 2H13, pursuant to the start... |
PT Semen Gresik officially changes name, Semen Kupang takeover recommended09 January 2013, Published under Cement NewsPT Semen Gresik has officially changed its name to PT Semen Indonesia and is being urged by the government to take majority ownership of state-owned cement producer Semen Kupang, The company’s corporate name change to PT Semen Indonesia was officially marked during an inauguration ceremony in the presence of State-owned Enterprises Minister Dahlan Iskan and attended by PT Semen Indonesia vice president Dwi Soetjipto. “We must become a regional champion. This company should become In... |
Anglo American appoints Mark Cutifani as Chief Executive09 January 2013, Published under Cement NewsAnglo American plc announces the appointment of Mark Cutifani as Chief Executive, with effect from 3 April 2013. Mark Cutifani has been Chief Executive Officer of AngloGold Ashanti Ltd, the South Africa-based gold producer, since 2007 and has led the successful restructuring and development of its business, which includes operations in 10 countries on four continents. Anglo American’s current Chief Executive, Cynthia Carroll, will step down from the Board at the Company’s Annual Genera... |
China Tianrui Cement 'B+' rating affirmed; outlook stable09 January 2013, Published under Cement NewsStandard & Poor's Ratings Services said it had affirmed its 'B+' long-term corporate credit rating and 'cnBB' long-term Greater China regional scale rating on cement producer China Tianrui Group Cement Co. Ltd. |
Lafarge & Anglo America announce completion of joint venture08 January 2013, Published under Cement NewsLafarge and Anglo American announce the completion of their 50:50 joint venture which combines their cement, aggregates, ready-mix concrete, asphalt and asphalt surfacing, maintenance services, and waste services businesses in the United Kingdom. The joint venture will be known as Lafarge Tarmac and begins trading today. Completion of the Lafarge Tarmac joint venture follows final clearance from the UK Competition Commission, predicated on the completed sale of a portfolio of Tarmac and L... |
ABG looks to sell minority stake in cement unit, India08 January 2013, Published under Cement NewsIndia-based private sector ship builder ABG Group, is in talks to offload a minority stake in its cement business, a senior executive has told the Times of India. The cement business, which operates under ABG Cement, has a 6.5Mta cement plant in Kutch, Gujarat, which is expected to be commissioned in a few weeks. Dhananjay L Datar, director of ABG Group, said the potential deal is at a preliminary stage with several parties showing an interest in the unit. Sources familiar with the... |
Yamama Cement 2012 sees 2012 net profit rising 10.5%, Saudi Arabia08 January 2013, Published under Cement NewsSaudi Arabia cement producer Yamama Cement Co’s estimated net profit for 2012 rose to SAR818m (US$218.1m), a rise of 10.5 per cent from SAR740m a year ago. Estimated gross profit rose to SAR914m from SAR809m. |