Cement News tagged under: international
Misr Cement Qena net profit increases by 9.6%20 February 2009, Published under Cement NewsThe net profit of Egyptian cement producer Misr Cement Qena increased by 9.6% to reach EGP 302.9m (US$54m) in 2008, the stock exchange said in a statement. Misr Cement Qena is an Egypt-based company engaged in the production of different types of cement and its derivatives. The company’s plant is located in Qeft city, 42km north of Luxor international airport, Egypt, with an annual production capacity exceeding 1.4Mt of ordinary Portland cement. |
Shui On Group to borrow RMB 13bn from ABC20 February 2009, Published under Cement NewsShui On Group, a property development, construction and construction materials enterprise with interests in Hong Kong and China mainland, has secured a three-year, RMB13bn loan from Agricultural Bank of China (ABC), sources reported. As per the agreement signed by the group and the bank, RMB 8 billion will be used in real estate development and the remaining amount will be used for a cement project, managed by Shui On Construction and Materials Ltd and Lafarge, which is the largest cement p... |
Group forms to support Titan cement plant20 February 2009, Published under Cement NewsThe Coalition for Economic Advancement., formed by a group of local business leaders and economic developers, hopes to be the yin to Stop Titan’s yang by supporting industries looking to locate or expand in Southeastern North Carolina. The group’s mission, according to its Web site, is to support job growth and retention in the region and “act as a counter-balance to anti-job and anti-growth groups that work to obstruct responsible industries that wish to move here.” For an opening salvo, ... |
Orascom boosts Lafarge’s growth20 February 2009, Published under Cement NewsLafarge’s 2008 turnover rose by 8.1% to €19,033m and the EBITDA by 10.4% to €4,618m. The trading profit advanced by 9.3% to €3,542m, but after a 78.9% increase in financial charges to €941m and higher exceptional charges, the pre-tax profit declined by 12.5% to €2,418m. After a 38.1% increase in minorities to €341m, the net attributable profit was down by 16.3% to €1,598m. Net debt at the end of December rose by 94.4% to €16,884m, largely reflecting the acquisition of Orascom. Capital ex... |
Lafarge launches campaign to bring clarity to market19 February 2009, Published under Cement NewsLafarge has launched a campaign to call for clearer communication and usage guidelines on sustainable building products – following extensive research that has highlighted confusion amongst many builders. ‘Clarity in the Market’ kicks off in March with the relaunch of Lafarge Cement’s own packed product portfolio – in a move which will see packaging facilitate better understanding of the environmental impact of cement materials. As the Government introduces tightening green targets governi... |
India: cement prices down by INR3 per bag19 February 2009, Published under Cement NewsThe average price of cement in the country has decreased to INR234 a bag in January from INR237 a bag in April last year, Parliament was informed. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Mr Ashwani Kumar said on an average cement prices have fallen by INR3 per 50kg bag between April 2008 and January 2009. He also said during the period, production of cement has increased by 7.38 per cent compared to the same period in the previous financial year. |
Cemex falls after Santander cuts ADR price estimate19 February 2009, Published under Cement NewsCemex declined for a second day after Banco Santander SA cut its share-price estimate for the company’s American depositary receipts. Cemex dropped three per cent to 10.19 pesos in Mexico City trading, leaving it down 13 per cent in the past two days. Mexico City-based analyst Gonzalo Fernandez reduced his yearend estimate for Cemex ADRs to US$8 from $9 amid slowing economic growth and currency fluctuations, according to a research note today. He has a “hold” rating on the stock. He lowere... |
Adelaide Brighton net profit A$120.8m for 200819 February 2009, Published under Cement NewsAdelaide Brighton Ltd reported a net profit of A$120.8 million for the year to December 31 2008, up 6.1 per cent compared with 2007. Earnings per share was 22c versus 21c previously. Revenue was up 15.1 per cent to A$1.02bn. Managing director Mark Chellew said construction activity is being constrained by tight credit markets and compounded in the residential sector by low levels of consumer confidence. "At this stage it is not possible to predict the extent of this downturn," he said. "... |
Semen Gresik January sales down 2.9 per cent on month19 February 2009, Published under Cement NewsPT Semen Gresik said Thursday its cement sales in January dropped 2.9% on year to 1.34Mt due to lower exports and domestic sales. Domestic cement sales fell 1.2% to 1.3Mt from 1.32Mt, while exports fell 38% to 39,345t from 63,843t a year earlier. The company didn’t give any explanation for the decline in its sales. The nation’s largest cement producer by assets and sales said it had a 42% share of the domestic market in January. |
Lafarge FY08 net up 27% to RM367m19 February 2009, Published under Cement NewsLafarge Malayan Cement Bhd’s net profit for the year ended Dec 31, 2008 (FY08) jumped 27.6% to RM367.68m from RM288.15m a year earlier, on the back of higher sales and selling prices of cement. Revenue for the year rose 16.6% to RM2.53bn from RM2.17bn while earnings per share improved to 43.3 sen from 21 sen. Lafarge has declared a second interim dividend of 15 sen per share for FY08 that will be paid on April 8, 2009, bringing declared dividend for the year to 30 sen. Fo... |