Cement News tagged: Corporate
Najran Cement 3Q12 net profit down, Saudi Arabia
Saudi Arabian cement company Najran Cement posted a net profit of SAR36.2m (US$9.7m) for the third quarter of 2012 compared to SAR83.3m in the corresponding period of 2011, representing a fall of 56.55 per cent. However, on a QoQ basis, net profit increased by 36.19 per cent compared to the second quarter of the year. The reason for net profit of third quarter being higher than the second q...
Cemex Spain lay off 370 workers as cement consumption plummets
Cemex Spain has lodged an employment regulation (ERE) for 370 workers, 21.2% of the 1740 employees that the Mexican multinational has in the country. The company justifies this measure of 'Horizon Plan' by the collapse in demand for cement in Spain, which "is putting at serious risk the future of this industry." Other measures include reducing eight factories to three to produce cement. ...
Southern Province driven by higher demand, Saudi Arabia
Saudi Arabian cement producer Southern Province Cement reported a YoY rise in net profit for the the first nine months of 2012 and for the third quarter of the year thanks to an increase in demand for cement on the local market. However on a QoQ basis, third quarter profit fell due to the Ramadan and Eid Al-Fitr holidays. Net profit for the third quarter of 2012 reached SAR200m compared to S...
Henan Tongli Cement nine-month net profit declines, China
Henan Tongli Cement Co Ltd reported a net profit of CNY138m (US$22m) for the first three quarters of 2012, a YoY decline of 6.86 per cent. Operating revenue during the period climbed 4.19 per cent YoY to CNY3.13bn. The Shenzhen-listed cement producer said net profit for the third quarter slumped 30.28 per cent YoY to CNY41.16m, while operating revenue grew 18.64 per cent YoY to CNY116bn.
Trinidad Cement appoints new director
Trinidad Cement has appointed Mr Alejando Alberto Ramirez as a Director. The effective date is October 12, 2012.
Vietnam producer 3Q net profit falls
Thai Binh Cement JSC reported a net profit of VND81m (US$3.9m) in the third quarter of 2012 compared to VND1bn a year ago due to a rise in input costs and lower demand, the company said. Revenue for the July-September 2012 period was VND23.6bn compared to VND24.2bn in the same quarter of last year. In the first nine months of this year, the company saw 65 per cent net profit drop to VND1...
DG Khan first quarter boosted by prices, Pakistan
Pakistan cement producer DG Khan Cement Ltd (DGKC), reported a significant rise in net income in the first quarter of the current fiscal thanks to rising cement prices. Net income increased to PKR1.42bn (US$14.8m) from PKR355.5m, the Lahore-based company said in a filing today. Sales rose 15 per cent to PKR6.1bn. Cement makers have relied on price increases amid stagnant sales in the pas...
Anhui Conch 3Q12 net down, China
Anhui Conch Cement said its net profit attributable to equity shareholders dropped 66.75 per cent YoY to CNY1.02bn (US$163m) for the third quarter ended 30 September 2012. Operating revenue was CNY11.69bn, representing a 7.6 per cent decline from a year earlier. Operating profit dropped 69 per cent to CNY1.23bn. For the first three quarters of 2012, net profit fell about 57 per cent YoY to C...
Siam Cement net profit down, approves investment, Thailand
Siam Cement PCL said Wednesday its third-quarter net profit fell 13 per cent from a year earlier, mainly because of higher expenses and cost of sales. Meanwhile, its board has approved THB16.5bn (US$53.6m) worth of cement investments to increase its footprint in Southeast Asia. The company posted a net profit of THB6.42bn (US$208.8m) for the three months ended 30 September, compared with THB...
Cemex Spain mulling job cuts
Cemex’s Spanish subsidiary is considering cutting 350 and 400 jobs, a trade union official told Reuters on Tuesday. The official, who had informal talks with Cemex on the issue, said around one-fifth of the jobs could be cut out of a total of 1740 in the country. "We can anticipate that the steps will be pretty strong. There will be contracts being ended and about one-third of cement workers...
Buzzi Unicem expected to revise 2012 EBITDA guidance
Brokerage Equita expects Italian cement maker Buzzi Unicem to report a 21 per cent rise in EBTIDA for the first nine months of 2012 to EUR177m. The third-quarter EBITDA will push the management to revise up its 2012 EBITDA target from the current EUR430m to at least the consensus estimate of EUR 455m, Equita said. The broker expects Buzzi Unicem to report sales of EUR828m for the third q...
Unacem net profit rises, Peru
Union Andina de Cementos (Unacem) – which comprises the recently merged Cementos LIma and Cementos Andino – reported a net profit to PEN70.3m (US$27m) compared with PEN42m in the same quarter in the previous year boosted by strong sales. Total third-quarter revenue was PEN326.4m compared with PEN266.3m in the same period a year earlier. The company said that cement production in the thir...
R&I Affirms BBB/a-2, Stable: Taiheiyo Cement Corp
Rating and Investment Information, Inc (R&I) has announced the following: Taiheiyo Cement Corp. Issuer Rating: BBB, Affirmed Rating Outlook: Stable Commercial Paper: a-2, Affirmed. Rationale Taiheiyo Cement Corp. is the largest cement manufacturer in Japan. The company has a foothold in overseas markets as well, including North America, China, Vietnam, the Philippines and South Korea. ...
Tianshan Cement net profit declines, China
Xinjiang Tianshan Cement Co Ltd, a Shenzhen-listed cement producer, reported a net profit of CNY343m (US$54.9m) in the first nine months of 2012, representing a YoY decline of 64.85 per cent. Operating revenue during the period was down by 4.45 per cent YoY to CNY6.1bn. Net profit for the third quarter plunged 62.94 per cent YoY to CNY220m.
Cemex announces Latam share offering, Colombia
Cemex said on Friday it plans to offer some 126.6 million common shares of its Cemex Latam Holdings unit to be listed in the Colombian stock market. Cemex Latam Holdings includes Cemex's cement and ready-mix assets in Colombia, Panama, Costa Rica, Brazil, Guatemala, Nicaragua and El Salvador. About 110.1 million shares will be put up for grabs in a public offering to investors in Colombia...
Sephaku Cement secures cement project funding, South Africa
Sephaku Cement had concluded a ZAR1.95bn (US$226m) funding deal with Standard Bank and Nedbank which will be put towards new capacity in South Africa. The 10-year funding deal would provide Sephaku Cement, which is developing a production facility in the northwest and a grinding facility in Mpumalanga, with the required capital to enter the cement market. Of the total debt capital raised,...