Cement News tagged under: Corporate
Toros Cimento plans investment in cement plant23 June 2006, Published under Cement NewsKonya Cimento announced that its affiliate Toros Cimento will establish a new cement plant with an annual capacity of 1.5Mt in Karaman with US$120m investment. Toros will start the investment project in 2007 and complete it in 2010. Konya Cement, a cement company, holds a 99 per cent stake in Toros Cimento. |
Lafarge ups mid-term targets, mulls roof unit sale22 June 2006, Published under Cement NewsLafarge raised its mid-term targets on Thursday and said it was considering selling its underperforming roofing business as it seeks to boost profits. Fleshing out a strategic plan announced in February, the world’s biggest cement company said it expected average annual earnings per share (EPS) growth of 10 per cent by 2008, driven largely by its key cement division. It was previously expecting 8 percent EPS growth. The group aimed to cut costs by EUR400m (US$505.2m) by 2008 and gene... |
Cement Hranice ups 2005 profit by 32 per cent Hranice22 June 2006, Published under Cement NewsCzech cement maker Cement Hranice raised audited net profit by 31.7 per cent YoY to Kc659.3m in 2005, says its annual report, obtained by CTK. Board chairman Jaromir Chmela said in the report the growth was due to a launch of trading in emission permits in January 2005 as Cement obtained bonuses owing to investment in technologies with lower energy demands. "By selling the unused permits, we made net profits worth more than Kc130m," Chmela said. Sales were flat YoY at Kc1.5bn. "Despite a ge... |
Fortune Cement approves cash dividend21 June 2006, Published under Cement NewsThe board of Fortune Cement Corp has approved a regular cash dividend of PHP0.15 a share to shareholders of record at July 5. The dividend is payable July 31 and will come from the retained earnings of the Philippine cement manufacturer as of the end of 2005. |
Carpatcement Holding registers higher profits21 June 2006, Published under Cement NewsCarpatcement Holding SA registered approximately Euro 31m in net profit, and Euro 159m in turnover in 2005, Bursa daily informs on Tuesday. For the current year, the company’s officials estimate a turnover by 10 per cent higher as against 2005, in terms of the market’s evolution. "Romania has a much higher development potential as compared with the markets in the region, due to the fact that, over the last years, much fewer investments were made in infrastructure projects as compared with... |
TPI Polene Plc plans to issue bonds20 June 2006, Published under Cement NewsTPI Polene Public Company Limited. (TPIPL), Thailand’s third largest cement maker, plans to issue baht-denominated bonds worth about US$650m to refinance debt. (Thai Bond Dealing Centre: 19 June 2006) |
Holcim Romania sees 2006 sales rising20 June 2006, Published under Cement NewsThe Romanian unit of Swiss cement producer Holcim Ltd. expects its 2006 sales to rise in line with the overall domestic market growth projected at eight to 12 percent, a senior company said. "We want to grow at least at the same rate as the market, in order to maintain our position on the market," Holcim Romania’s country manager Marcus Wirth told SeeNews in a recent interview. "For the time being it is very difficult to forecast a sum but the [Romanian] cement market will grow by between ... |
Cemex looks towards Q2 operating income boost20 June 2006, Published under Cement NewsCemex expects to report a second quarter operating income of US$840m, a 12 per cent increase over the same quarter in 2005, according to a company press release. "We are increasingly confident that we will exceed our target Ebitda of US$4bn [for the year] and free cash flow after maintenance capital expenditures of US$2.5bn," CFO Rodrigo Treviño said. The expected Q2 increase in operating income comes as the result of increased sales in Mexico and Spain, which Cemex expects to outweigh ... |
CRH eyes €2bn deal for US company20 June 2006, Published under Cement NewsCRH is in talks to buy the Ashland Paving and Construction (APAC) company in a deal that could cost up to €2 billion. The building materials group said its US-based subsidiary, Oldcastle Materials, had entered into an agreement which could lead to a takeover of Ashland. "Completion of any transaction that might emerge from this process would be subject to US regulatory review and approval by the boards of directors of CRH and Ashland," the Irish firm said in a brief statement. APAC is a par... |
ICICI in equity pact with Andhra Cement20 June 2006, Published under Cement NewsTHE GP Goenka Group-promoted Andhra Cements (ACL) on Monday said ICICI Bank had finalised a Rs 50-crore equity-cum-debt deal with the company. ICICI Bank has picked up six per cent in Andhra Cement for a consideration of Rs 10 crore while the bank will provide another Rs 40 crore as debt to the company. The promoters, the Goenka Group, will infuse another Rs 30 crore into the firm, taking the promoter’s equity stake to a new high of around 90 per cent. |