Cement News tagged under: Corporate
Cement gets a reality check from private equity investors07 August 2006, Published under Cement NewsOne of the biggest beneficiaries of the present real estate boom in India seems to be the cement sector. This has led to a huge interest from private equity players in the sector. The sector, in the last six months, attracted private equity investments to the tune of $801m. Compare this to automotive, FMCG and chemical and fertilisers, which together had investments of $840m during the same period. "The cement industry is clearly witnessing a strong revival on the back of rising infrastr... |
Sanko receives credit line from IFC07 August 2006, Published under Cement NewsAbdulkadir Konukoglu, board chairman of the Turkish Sanko Holding, announced that the company secured US$75m loan from the IFC and US$100m syndicated loan from a consortium of seven foreign banks for Sanko’s investments in the cement sector. The company will also make a US$131m investment in the sector to be met with its own resources, bringing to the total amount of investment to US$306m. Some US$250m will be invested for Kahramanmaras cement plant, the construction of which started tw... |
Sibirskiy Cement raises cement production in 1H200607 August 2006, Published under Cement NewsSibirskiy Cement Holding (Kemerovo) raised production of cement by 25 per cent in the first half of 2006 against the same period 2005 - to 1,757,000t. Topkinskiy Cement raised output by 32.7 per cent, having made more than 1Mt of cement, Krasnoyarskiy Cement - by 16.3 per cent (to 375,800t), Angarskcement - by 7.5 per cent (to 292,700t), Timlyuyskiy Cement Plant - by 89 per cent (to 86,200t), the company’s press service reported to Russian news sources. |
EAPC boss resigns04 August 2006, Published under Cement NewsThe managing director of the East African Portland Cement Company has resigned. Mr Zakayo ole Mapelu stepped down three weeks after he was sent on forced leave. He handed in his resignation letter on Tuesday to the company’s board of directors, on the same day that Parliament was told that the company had lost Sh400 million through corruption. His resignation came just 24 hours after the permanent secretary for Trade and Industry reinstated Mrs Jane Mutua unconditionally as the human res... |
New CEO for Heracles Cement, Greece03 August 2006, Published under Cement NewsManagement of Athens-quoted Heracles General Cement Co said on Wednesday that a new managing director was in place. Saad Sebbar launched his corporate career at France’s Lafarge, Heracles’ owner, in 1997, after working for seven years as a sector engineering and strategy |
Bamburi profits soar, Kenya03 August 2006, Published under Cement NewsBamburi Cement announced its half year group results with a 22 per cent growth in operating profit from Sh1.6bn to Sh1.9bn during the past six months. Turnover for the year rose by 12 per cent to Sh7.9bn with the group’s total interim dividend pay out amounting to Sh1.45bn. Releasing the results, the group’s chairman, Richard Kemoli said the impressive performance was achieved despite difficult operating environment. The challenges include acute power shortage, ever-rising fuel prices a... |
Carib Cement second quarter loss03 August 2006, Published under Cement NewsFor the second quarter to June 30, 2006, Carib Cement reported a loss of $43.7m which, when added to the first quarter loss of $190.6m that includes $160m for claims relating to non-conforming cement, results in a Group Net Loss of $234.3m for the first six months, compared to a group net profit of $293.8m for the prior year six month period. Second quarter 2006 sales volume of 229,000t was comparable to the 230,000t which was sold in the prior year second quarter. The half-year sales volu... |
Semen Kupang on the brink of bankruptcy, Indonesia03 August 2006, Published under Cement NewsState-owned cement maker PT Semen Kupang in Kupang is on the brink of bankruptcy, a company official said. The company needs Rp50bn (US$5.5m) in fresh funds or it will likely collapse before the end of this year, its President Abdul Madjid Nampira said. Nampira said the company with 445 workers has two factories - Kupang I built in 1980 with an annual capacity of 270,000 tons , and Kupang 2 operational in 2003 with an annual capacity of 300,000 tons. Kupang 1, however, stopped operation in... |
Athi River Mining profits rise to Sh$175m03 August 2006, Published under Cement NewsAthi River Mining’s half-year profits went up by 41 per cent in the six months ending June this year. The company made Sh175.5m, up from Sh124.7m in the same period in 2005. Turnover grew by 25 per cent to Sh1.24bn from Sh995.7m in a similar period in 2005. This was driven by increased use of the existing capacity in firm’s capacity in Tanzania and South Africa subsidiaries. In South Africa, cement consumption has gone up steadily as the government invests billions of rand in infrastruct... |
Hanson’s British volumes decline03 August 2006, Published under Cement NewsHanson increased first half turnover by 14.4% to £1,998.2m, with the EBITDA advancing by 16.4% to £322.5m and the trading profit by 15.8% to £228.4m, with Civil & Marine being consolidated from March. Net debt stood at 60.6% of shareholders’ funds at the end of June, compared with 43.7% a year earlier. North American cement deliveries were 6.6% higher and prices rose by 11.6%, while in ready-mixed concrete shipments were 5.4% higher and prices emerged 16.3% ahead. In aggregates, prices i... |