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Construction Materials

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Vulcan Materials to buy Aggregates USA LLC for $900 mln

Thursday, 25 May 2017 06:30am EDT

May 25 (Reuters) - Vulcan Materials Co :Vulcan announces agreement to acquire Aggregates USA LLC.Deal for $900 million in cash.Vulcan Materials Co says expects transaction to be accretive to company's earnings per share in first year following close.Reached a definitive agreement with SPO Partners to acquire its Aggregates business, Aggregates USA LLC.Acquisition complements and expands Vulcan's service offerings in Georgia with three granite quarries.Acquisition includes 12 limestone quarries in Eastern Tennessee and Southwest Virginia.Vulcan may divest several quarries in Tennessee to a third party in order to expedite regulatory approval process.

Future Bright Mining says will commence new business segment on trading of commodities

Tuesday, 23 May 2017 04:44am EDT

May 23 (Reuters) - Future Bright Mining Holdings Ltd <2212.HK>:Group will commence a new business segment on trading of commodities which are mainly metal ore products.Group intends to finance commodities trading business by its own internal resources.Expect that new trading business will contribute positively to group's overall results for fy ending 31 december 2017.

India's Grasim Industries March-qtr consol profit up marginally

Friday, 19 May 2017 05:32am EDT

May 19 (Reuters) - Grasim Industries Ltd :March quarter consol net profit 10.64 billion rupees.March quarter consol total income 114.09 billion rupees.Consol profit in march quarter last year was 10.55 billion rupees as per Ind-AS; consol total income was 107.64 billion rupees.Recommended dividend of 5.50 rupees per share.Says transaction with Aditya Birla Nuvo is expected to be completed by Q2 FY18..Says company’s brownfield expansion at Vilayat is on track.Says company’s commissioning of Vilayat plant is expected by q4fy18.Says company is in the process of debottlenecking of its plants to meet the growing demand for VSF business.

China Tianrui Group Cement says non-executive director and joint company secretary were detained in Jinan

Tuesday, 9 May 2017 09:17am EDT

May 9 (Reuters) - China Tianrui Group Cement Co Ltd <1252.HK>:Yang Yongzheng, non-executive director and Yu Chun Liang, joint company secretary were detained in Jinan, prc by police.So far Yang and Yu have not been judged in a prc court nor held guilty as company was informed.Yang and Yu were detained due to alleged violation of criminal law of prc when they performed their other duties on 8 Apr 2017."Believes that, as at date hereof, incident has not affected group and business and operations of group remain normal"."The incident did not arise in connection with company and its subsidiaries".

H and R Century Union dissolves Shanghai-based ad unit

Friday, 5 May 2017 02:28am EDT

May 5 (Reuters) - H and R Century Union Corp <000892.SZ> ::* Says it cancels registration of Shanghai-based ad unit as planed .

Pan-United proposes de-merger of ports business as a separate listed entity

Wednesday, 3 May 2017 04:19am EDT

May 3 (Reuters) - Pan-united Corporation Ltd ::Proposed de-merger of ports business as a separate listed entity.Proposed de-merger of Xinghua Port Holdings Pte. Ltd. as a separate listed entity.Upon completion of de-merger, proposed PanU Group and Xinghua will continue operations as independent entities.Plans to undertake a renounceable non-underwritten rights issue of up to 141.5 million new ordinary shares.Offer at an issue price of S$0.43 per rights share.Estimated gross proceeds from rights issue are S$60.9 million.Xinghua plans to capitalise an existing S$102.0 million inter-company loan extended by PanU to Xinghua into newly issued Xinghua shares.PanU intends to use proceeds to partially retire co's external debt that was obtained to acquire additional equity stake in SCD in 2013.Upon completion of proposed restructuring, PanU intends to undergo a capital reduction exercise.

Rockwell provides third update regarding three subsidiaries in Kimberley

Tuesday, 2 May 2017 08:00am EDT

May 2 (Reuters) - Rockwell Diamonds Inc : :Rockwell Provides third update regarding three subsidiaries in Kimberley, South Africa.Rockwell Diamonds -provides update to interim liquidation orders brought by c-rock mining against 3 subsidiaries of co issued by judge in Kimberley South Africa.Rockwell Diamonds -all 3 subsidiaries remain under operating control of company.Rockwell Diamonds Inc says confirms that wouterspan plant is now in ramp up stage after commissioning.

Eagle Materials says received order issued by Mine Safety and Health Administration

Friday, 28 Apr 2017 05:23pm EDT

April 28 (Reuters) - Eagle Materials Inc ::Says unit received order at cement plant in fernley, nevada on Feb 7, issued by Mine Safety and Health Administration.Eagle Materials says order stated that a mine worker was observed working on edge of pit with fall protection equipment that was being used improperly.Says no one was injured in cited incident, and practice immediately ceased.

Guangdong Redwall New Materials sees H1 2017 net profit could rise up to 50 pct

Friday, 28 Apr 2017 04:21am EDT

April 28 (Reuters) - Guangdong Redwall New Materials Co Ltd <002809.SZ>: :* Sees net profit for H1 2017 could rise up to 50 percent, or to be 34.1 million yuan to 51.2 million yuan, compared to net profit of the same period in 2016 (34.1 million yuan).* Comments that increased sales of main business and cement business, as well as increased investment income and government subsidy are the main reasons for the forecast.

USG reports Q1 EPS $0.37

Thursday, 27 Apr 2017 08:00am EDT

April 27 (Reuters) - Usg Corp :USG Corp reports first quarter 2017 results.Q1 sales $767 million versus $747 million.Q1 adjusted earnings per share $0.37.Q1 earnings per share $0.37.Q1 earnings per share view $0.45, revenue view $751.1 million -- Thomson Reuters I/B/E/S.Qtrly operating profit on an adjusted basis for corporation's Gypsum segment , of $91 million in Gypsum segment decreased by $15 million.Qtrly ceilings segment earned $23 million of operating profit in Q1 of 2017 compared to $28 million.USG boral business generated $13 million of equity income in Q1 of 2017, an increase of $6 million from Q1 of 2016.

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