Cement News tagged under: Corporate
India Cements FY06 net soars14 June 2006, Published under Cement NewsBuoyed by higher demand and better prices, India Cements Ltd (ICL) has reported a sharp growth in net profit at Rs 45.31 crore for the fiscal ended March 31, 2006 compared to Rs 4.58 crore in the previous year. Sales and other income grew 31% to Rs 1,836.69 crore as against Rs 1,402 crore in 2004-05. The interest charges went up marginally to Rs 149 crore (Rs 133.50 crore). The company has brought down its overall debt to Rs 1,300 crore from Rs 1,900 crore last year and the same is expected ... |
Cimsa not to participate in capital increase14 June 2006, Published under Cement NewsCimsa Cimento Sanayi, Turkey, said that it decided not to participate in the capital increase of its subsidiary Enerjisa Enerji Uretim. Recently other Sabanci Holding group companies, namely Akcansa, Bossa, Brisa Bridgestone, Advansa Sasa and Kordsa announced that they would not participate in the capital increase of the company. Enerjisa will increase its capital by TRY 110mn from TRY 150mn to TRY 260mn via rights issue. The statement sent to the ISE by Cimsa reads that it would not partici... |
S K Birla group may exit cement business14 June 2006, Published under Cement NewsAfter hiving off Saurashtra Chemicals Ltd last year, the S K Birla group might sell its stakeholding in loss-making Mysore Cements Ltd. It is a logical conclusion to exit the cement business at a time when there was a wave of consolidation both in the country and overseas, company sources told reporters. Mysore Cements has plants in Karnataka and Madhya Pradesh, and a grinding unit in Uttar Pradesh. A spokesman said that it did not make any sense to run a two million tonnes per annum cemen... |
Dalmia Cement net rises14 June 2006, Published under Cement NewsDalmia Cement (Bharat) India has reported a phenomenal jump in net profits for the quarter ending in March, 2006. During the quarter, the company saw a 342.03 per cent rise in profits from Rs 121.1 million to Rs 535.3 million. Sales for the quarter rose 37.24 per cent to Rs 1,579 million, compared with the corresponding quarter, a year ago. Total income climbed 73.24 per cent to Rs 2,153.7 million, with other income rising 519.96 per cent to Rs 574.7 million compared with the quarter, a yea... |
Tongyang Major sells stake in subsidiary13 June 2006, Published under Cement NewsTongyang Major Corp., a flagship company of the long-established cement manufacturer Tongyang Group, said Monday it has sold a stake in its subsidiary to a US-based investment fund for 225bn won (US$235m). The proceeds from the sale of 4.99M shares, or 49.9 per cent of Tongyang Cement Corp, will be used to improve its financial status. The sale will reduce Tongyang Major’s debt-to-equity ratio to 260 per cent from 702 per cent, it said. The move is the final step in a series of r... |
ACC shareholders approve merger of Tarmac India12 June 2006, Published under Cement NewsAssociated Cement Companies Ltd (ACC) today said it has approved the merger of Tarmac India Ltd with itself. The equity shareholders of the company at their court convened meeting held yesterday approved the amalgamation scheme with requisite majority, the company informed the Bombay Stock Exchange. |
EBRD considering Garadagh stake12 June 2006, Published under Cement NewsTerms of consideration of the issue of shareholding of the Bank in OJSC Garadagh Cement have been extended according to EBRD spokesman Raymond Conway in Baku. "The Board of Directors will consider this project by 11 July. This project has very important role in development of cement industry, however prospects of this project should be studied thoroughly. That’s why we’ve decided to continue considering preliminarily studies on the project till the beginning of July", - the EBRD official in... |
Lafarge Romania reports higher profits12 June 2006, Published under Cement NewsLafarge Cement Romania, the local subsidiary of the French group Lafarge, reported a profit of approximately Euro 55m last year. The 2005 turnover recorded by Lafarge Cement stood at some Euro 175m, up by about 22 per cent over 2004. The company is Romania’s sole cement exporter, with about a third of sales directed to foreign markets. The company’s managing director Philipe Questiaux predicts a growth in turnover this year of about 5 per cent at the pace of the constructions market. Ac... |
Tangshan Jidong Cement sees H1 net profit up12 June 2006, Published under Cement NewsTangshan Jidong Cement Co Ltd said that it expects net profit for the first half to rise over 50 per cent year-on-year, on higher sales and cost cutting. The company’s net profit in the first half of 2005 stood at 46.76 mln yuan. Net profit last year fell 10.68 pct to 127.73 mln yuan. Tangshan Jidong’s controlling shareholder is reportedly in talks to sell an unspecified stake to HeidelbergCement AG. |
Tongyang Major sells stake in subsidiary12 June 2006, Published under Cement NewsTongyang Major Corp., a flagship company of the long-established cement manufacturer Tongyang Group, said Monday it has sold a stake in its subsidiary to a US-based investment fund for 225 billion won (US$235m). The proceeds from the sale of 4.99 million shares, or 49.9 percent of Tongyang Cement Corp, will be used to improve its financial status. The sale will reduce Tongyang Major’s debt-to-equity ratio to 260 percent from 702 percent, it said. The move is the final step in a series of re... |