Cement News tagged under: Corporate
India Cements posts record net profit18 July 2006, Published under Cement NewsIndia Cements Ltd has posted a net profit of Rs 112.59 crore for the quarter ended June 30, 2006, which figure, it says, "far exceeds even the highest ever annual profit registered by the company at Rs 87 crore during 1998-99." With good demand in its major markets and firm prices, a situation that the company expects will last for at least two to three years, India Cements is confident of wiping off its accumulated losses by the third quarter of this year. Mr N. Srinivasan, Vice-Cha... |
Tanzania Portland shares likely to be oversubscribed18 July 2006, Published under Cement NewsShares of the Tanzania Portland Cement Company (TPCC), which were recently floated to the public, are likely to be oversubscribed, it was learnt in Dar es Salaam yesterday. "It is very early to say exactly. But all indicators show that the offer is successful," said the Chief Executive Officer (CEO) of Orbit Securities Company Limited (OSCL), Mr Laurean Malauri. "There will be no extension of the offer after the closure date on July 26," Mr Malauri added. The government is selling its 53,... |
HeidelbergCement CEO Scheifele says co will continue eastward expansion17 July 2006, Published under Cement NewsHeidelbergCement AG chief executive Bernd Scheifele told Handelsblatt his company intends to continue its aggressive expansion strategy in Eastern Europe and the former Soviet Union. ’We will continue to pursue our strategy of expanding in Eastern Europe and Central Asia,’ Scheifele told the newspaper without naming any specific takeover targets. So far this year, HeidelbergCement has announced acquisitions in Russia and Georgia. Last year it acquired companies in Kazakhstan and th... |
Bacnotan H1 net profit PHP111m, Philippines17 July 2006, Published under Cement NewsBacnotan Consolidated Industries said in a statement to the stock exchange that it posted net profit of PHP111m for the six months to June. The cement manufacturer gave no comparative figures, but has previously reported net profit of PHP67.15m in the first half last year. |
Anhui Conch to buy cement assets from parent14 July 2006, Published under Cement NewsAnhui Conch Cement Co, China’s largest cement producer by output, plans to buy cement-related assets from its parent, the Wall Street Journal reported, citing people familiar with the situation. Anhui Conch is also planning to boost its stake in at least one of its units by buying shares from minority shareholders, the newspaper said, citing unnamed sources. Shares of Anhui Conch were suspended from trading in both Hong Kong and Shanghai yesterday due to a pending statement. "Some... |
Texas Industries boosted by land sales, US13 July 2006, Published under Cement NewsTurnover in the year to the 31st of May rose by 13.1 per cent to US$943.9m and the trading profit jumped by 38.1 per cent to US$88.3m, thanks to a US$12.4m gain on property disposals, without which the profit increase would have amounted to 18.6 per cent. Cement deliveries declined by 4.9 per cent to 4.7Mt (5.1m short tons) because of shortage of stock and limited trading opportunities. Aggregates shipments, on the other hand, rose by 6.9 per cent to 22.9Mt (25.2m short tons) and ready-mi... |
Lafarge to issue Euro bonds, France13 July 2006, Published under Cement NewsLafarge SA will launch a US$1.5bn (EUR1.18bn) bond issue in the USA, it was reported on July 12, 2006. The operation is earmarked to fund the company’s debt, which resulted from the buyout of the minority stake in its North American subsidiary, worth US$3.5bn (EUR2.75bn). The bond issue is divided in three tranches of US$500m each, with maturity terms of five, 10 and 30 years respectively. The subscription price has not been fixed yet and should be determined in the coming days. Intern... |
Expectations of impressive SCC’s 2Q06 earnings, Thailand11 July 2006, Published under Cement NewsSiam Cement (SCC) is expected to announce net profit of around Bt8,381mn (EPS of Bt6.98) down 12% qoq and 4% yoy. SCC will announce their 2Q06 earnings results on July 26. If SCC does report earnings in line with forecast, we would consider it quite positive, even with the decline. Also, lower earnings should be widely anticipated by the market given a number of negative factors, especially higher oil prices, economic slowdown and uncertainty in politics. Second half earnings should ... |
India’s Petron wins Yemen contract10 July 2006, Published under Cement NewsIndia’s Petron Engineering Construction Ltd. said on Monday it had signed a contract worth US$13.4m with Yemen’s National Cement Company for its participation in building a cement plant in Yemen. |
Spotlight on India Cements10 July 2006, Published under Cement NewsWhen Mr N Srinivasan took over as vice chairman and managing director of India Cements Ltd. in 1989, the company had an annual production capacity of 1.6Mt and sales of 1.30 billion rupees (US$28.3m). Today it has a production capacity of nine million tons and annual sales of 18 billion rupees. And as India’s construction boom catches on in the south of the country, bringing demand in line with industry capacity, prices for India Cements products have risen. India Cements has also cut de... |