Cement News tagged under: corporate
Northern Region Cement set to launch IPO, Saudi Arabia07 January 2013, Published under Cement NewsSaudi-Arabia based cement producer Northern Region Cement Company (NRC) plans to sell 90 million shares in an Initial Public Offering (IPO) starting tomorrow. The company plans to sell 90 million shares, or 50 per cent of its capital at SAR10 (US$2.7) each over the 8-14 January 2013 period. NRC has appointed ANB Invest, the investment arm of the Arab National Bank, to act as the lead manager and bookrunner for the IPO. The deal was signed by NRCC Board Chairman Sulaiman bin Salim Al-Ha... |
Saudi Cement Co 3Q12 net profit rises, Saudi Arabia07 January 2013, Published under Cement NewsSaudi Cement Company (SCC) said its net profit for the nine months through September 2012 surged in the first nine months of 2012 compared to the same period of the previous year. Net profit rose 30.5 per cent YoY, to SAR825.3m (US$220.1m) from SAR 619.9m a year earlier. Earnings per share (EPS) stood at SAR 5.39, up from SAR 4.05. Operating profit increased to SAR842m for the first nine months of 2012, from SAR645.1m a year ago. For the third quarter alone, the company reported... |
Cimpor announces members of board of directors, Portugal07 January 2013, Published under Cement NewsCimpor announced that Luiz Roberto Ortiz Nascimento and André Pires Oliveira Dias have been appointed members of the Board of Directors, following the resignation of Erik Madsen and Walter Schalka. |
CRH – acquisition key to growth07 January 2013, Published under Cement NewsA development spending update released yesterday by CRH shows that growth through vertical integration continued to be a key strategy for the Irish building materials major through 2012. But with spending still subdued compared to 2006 peaks levels, will 2013 see the company step up its acquisition activity and which markets offer the potential for takeover opportunities? In its twice-yearly development statement, CRH said it closed 2012 with acquisitions and investments reaching almost EU... |
Nomura initiates Siam Cement coverage with a 'buy'04 January 2013, Published under Cement NewsNomura initiated coverage of Siam Cement Pcl, Thailand's biggest industrial conglomerate with a 'buy' rating, citing strong cement business on the back of infrastructure spending and improving petrochemical cycle. The broker set a price target of THB530, according to reports by Reuters. "The company's cement business has had strong performance in 2012 driven by government's massive infrastructure spending ... However, SCC underperformed Siam City Cement despite SCC's superior earnings ... |
Taiwan Cement and CNBM sign cooperation agreement04 January 2013, Published under Cement NewsTaiwan Cement Corp has signed a strategic partnership agreement with China National Building Material Co (CNBM) to expand cooperation between the two companies. According to Taiwan Cement, the agreement will include the exchange of information, capacity expansion in regional markets, R&D of high-quality cement, and innovation of production technologies. The two sides will also work towards the joint development of environmental technology. Koo Cheng-yun, Taiwan Cement Chairman, and sev... |
Gregory M Scott to head Portland Cement Association, USA04 January 2013, Published under Cement NewsGregory M Scott is to lead the Portland Cement Association as president and chief executive officer. He will head the US cement industry body from its Washington, DC, office and represent PCA and its members before Congress, the Administration and the White House. Mr Scott joined PCA in January 2012 as the senior president of government affairs and was promoted to president in September. “Scott brings a strong record of accomplishments to PCA with a wealth of experience in trade associati... |
China Resources Cement in grinding acquisition, China04 January 2013, Published under Cement NewsChina Resources Cement (CRC) has agreed to acquire a 100 per cent equity interest in Hainan Wuzhishan Dajiangnan Cement Ltd. Hainan Wuzhishan Dajiangnan Cement operates a 0.6Mta grinding plant in Maoyang Town, Wuzhishan City, Hainan Province. CRC said it believes the acquisition will expand the strategic locations of its business and increase its presence in the Hainan market in south China. |
CRH 's development spend reaches almost €630m in 201203 January 2013, Published under Cement NewsIn an update on its spending for the second half of the year, CRH said it had agreed 18 acquisition and investment initiatives of €375m. The transactions completed since the end of June bring full year 2012 development activity for the group to almost €630m. During the six month period, CRH said its Americas division agreed 12 deals worth a total of €256m. This included a majority stake in New Jersey's Trap Rock Industries and and also completed five other bolt-on transactions during the pe... |
IFC to loan Kerbala Cement US$70m for plant rehabilitation03 January 2013, Published under Cement NewsThe IFC, a member of the World Bank, is to provide a US$70m loan to Kerbala Cement Manufacturing (KCML) to rehabilitate its cement plant near the city of Kerbala. KCML, a subsidiary of the Lafarge group, will undertake the work under a concession agreement with the government of Iraq. The financing is expected to help bolster Iraq's construction sector, a key source of jobs, and support rebuilding efforts in the country, which is in dire need of infrastructure following years of conflict. ... |