Cement News tagged: Corporate
Qassim Cement net profit rises, Saudi Arabia
Saudi cement producer Qassim Cement Co (QCC) posted a SAR158.4m (US$42.2m) net profit for the first quarter of 2012 up from SAR147.2m a year ago. The company attributed the increase to a rise in sales but did not provide any exact figures.
Cementos Molins to cut investments in 2012, Spain
Spanish cement company Cementos Molins will cut its investments in 2012 to EUR80m from EUR120m. With the move, the firm is trying to reduce its debt, standing at almost EUR400m at end-2011. On June 14 Cementos Molins will pay a dividend of EUR 0.01 apiece. Abstracted from an original article in Expansion.
Haver & Boecker acquires Newtec Bag Palletizing
Haver & Boecker Holding GmbH has taken full control of Newtec Bag Palletizing by acquiring 100 per cent of its shares from the Newtec International Group SA. Newtec Bag Palletizing is a manufacturer of automatic palletising systems with headquarters in Illzach, France. It has over 1200 references, mainly in the chemical, agricultural and building materials industries. Newtec Bag Palletizing w...
Usje Cementarnica 1Q net profit falls 47%, Macedonia
Macedonian cement producer Usje Cementarnica said its consolidated net profit fell 47 per cent YoY to MKD101.8m (EUR1.6m) in the first quarter of 2012. Operating income fell 20 per cent YoY to MKD627.5m through March, while operating costs decreased by 9% to MKD538.1m. The company is a 94.8 per cent-owned subsidiary of Greece-based Titan Cement Company. It operates a single cement works ...
Southern Province Cements signs contract with Sinoma for Line No 3
Southern Province Cement (SPC) and Chinese engineering company Sinoma have signed a SAR707m (US$188m) contract for the installation of a third new line at SPC’s plant in Tuhama. In a filing to the Saudi bourse, the cement producer said the contract will be executed over 24 months and once completed, the new line will have a capacity of 5000tpd. SPC said it will use its own funds to finance ...
Lafarge Malayan revenue rises 7%, Malaysia
Lafarge Malayan’s revenue for 1QFY12 rose by 7% YoY to MYR644m due to higher output during the quarter (+1% nationwide in January and February 2012) and selling prices (+4% YoY nationwide to CNY331/t in 1Q). Though the 7% electricity tariff hike in May 2011 pushed energy costs higher, total costs increased by 5%, slower than top line growth due to efficiency gains. As a result, EBITDA rose by...
Angel Broking neutral on Madras Cements, India
Angel Broking has maintained neutral rating on Madras Cements , in its May 24, 2012 research report. “For 4QFY2012, Madras Cements posted 55.5% YoY growth in its net profit to INR99 crore, which was marginally below our estimates. Net profit growth was aided by 16.8% YoY growth in volumes to 2.13Mt and 13.7% YoY growth in realisation to INR4250/t. However, on a sequential basis, the company’s...
Mai Son cement plant put into operation, Vietnam
Mai Son Cement Joint Stock Co has officially put its Mai Son cement plant into operation. The new cement plant is situated in Na Pat Hamlet, Na Bo Commune, Mai Son Dist, Son La province with design capacity of 2500tpd of clinker (1Mta of cement). The company said it will concentrate on producing three types of cement: PCB40, PCB30 and PC40.
Daiwa reduces Anhui Conch price target, China
Daiwa Research reduced its target price for Anhui Conch to HK$23 from HK$29.5, and downgraded the stock to "hold" from "outperform". The house said cement demand and selling prices in eastern China and along the Yangtze River, the key market for Conch, have been weaker than expected year-to-date. But Daiwa expects the situation to improve in 2H on the back of the central government's looseni...
Camargo Correa takeover of Cimpor to involve asset swap
A takeover bid by Camargo Correa for Cimpor will involve an asset swap to buy out Votorantim, Portugal's securities regulator CMVM said on Tuesday, Reuters reports. CMVM approved the previously-announced EUR5.5/share bid under these terms and said the remaining shareholders in Cimpor would have between Wednesday and June 19 to decide whether to sell their stakes. Camargo Correa, which is alr...
S&P lowers Italcementi credit rating, Italy
Standard and Poor's lowered the long-term corporate credit rating on Italian cement maker Italcementi to BB+ from BBB-, and its short term rating to B from A-3. The agency set a "stable" outlook. The downgrade was prompted by Italcementi's continued underperformance against S&P's rating guidelines, the agency said. The group's operating performance in 2012 is expected to continue to suffer ...
Sumitomo Osaka considers streamlining transport operations, Japan
Sumitomo Osaka Cement is considering an overhaul of the group’s transport operation as it prepares to mark 20 years since the company was merged into a single entity. The Nikkei reports that the Japanese cement producer aims to integrate two transport subsidiaries, Sumise Kaiun Co and Taiyo Kisen Co, in order to revamp its logistics structure which has been in place since the old Sumitomo Ce...
Heracles Cement industry appointments, Greece
Greece-based Heracles Cement announced the following industry appointments: Stratis Zacharis is appointed as Sales General Manager for cement reporting to the Managing Director, Pierre Deleplanque. George Benos, Sales & Marketing General Manager, is appointed as Marketing General Manager for cement, aggregates and concrete, also reporting to the Managing Director Pierre Deleplanque.
Saudi Cement fined by Capital Markets Authority, Saudi Arabia
Saudi Arabia's Capital Markets Authority (CMA) has fined four listed companies a total of SAR225,000 (US$60,000) including one cement producer for contravening the rules of the Arab world's largest bourse. Saudi Cement Co was ordered to pay SAR50,000 for failing to include its governance rules in its annual results. The kingdom's market regulator has asserted more control over the stock ma...
GCC cement sector profits increase – report
GCC cement sector profits increased 21.2 per cent in 1Q12 and net profits increased from US$359.5m in 1Q11 to US$435.6m in 1Q12, according to a report by Global Investment House (GIH). However, net margins witnessed a fall of 90.4 bps. Revenue, on the other hand, increased 24.3 per cent to reach US$1.26bn, the report said. Gross margins witnessed a 233.6bps increase in Q1, 2012 to reach ...
Yamama Cement net profit rises 46%, Saudi Arabia
Yamama Cement Company recorded a 46% YoY surge in its net profit to SAR278m (US$74.1m) for the first quarter of 2012, up from SAR180m a year ago. The strong increase was attributed to a rise in sales, Yamama Cement. Gross profit rose to SAR300m from SAR196m.