Cement News tagged under: Corporate
China’s Tangshan Jidong Cement sees H1 net profit up09 June 2006, Published under Cement NewsTangshan Jidong Cement Co Ltd said that it expects net profit for the first half to rise over 50 pe cent YoY, on higher sales and cost cutting. The company’s net profit in the first half of 2005 stood at CNY46.76m. Net profit last year fell 10.68 per cent to CNY127.73m. Tangshan Jidong’s controlling shareholder is in talks to sell an unspecified stake to Heidelberg Cement AG of Germany, the world’s fourth-largest cement producer. |
Citigroup Global acquires shares of Mangalam Cement09 June 2006, Published under Cement NewsCitibank, N.A. has informed the Exchange that Citigroup Global Mkts (Mauritius) Private Ltd. has acquired 55,106 shares aggregating to 0.20 per cent of the total paid up capital of Mangalam Cement Limited. The mode of acquisition is through secondary market purchase and the shareholding of Citigroup Global Mkts (Mauritius) Private Ltd, after the said acquisition is 1,459,651 shares aggregating to 5.17 per cent of the total paid up capital of Mangalam Cement Limited. |
Taiwan’s Asia Cement mulls listing China ops in Hong Kong08 June 2006, Published under Cement NewsAsia Cement Corp is considering to list its China operations in Hong Kong next year, the Economic Daily News quoted company chairman Douglas Hsu as saying. The company expects to more than triple its cement production by 2012, said company Chairman Douglas Hsu. The company plans to build a number of kilns in China by 2012, which can more than triple its annual cement production to 28Mt from the current 7.6Mt the paper cited Hsu as saying |
Binani to restructure demerged cement, India07 June 2006, Published under Cement NewsFaced with BSE’s refusal to list shares of Binani Zinc, the Kolkata-based Binani group has decided to offer shares of Binani Cement Ltd (BCL) and Binani Zinc Ltd (BZL) to the shareholders of Binani Industries Ltd. Both Binani Cement and Binani Zinc are subsidiaries of Binani Industries Ltd. Sources close to the company said that the Binani group had tried to list Binani Zinc Ltd at BSE in April 2006 where Binani Industries was listed. BSE rejected the request of Binani Zinc Ltd as the co... |
OCI posts 54% growth in first quarter consolidated earnings, Egypt07 June 2006, Published under Cement NewsOrascom Construction Industries announced consolidated revenue of EGP 3,286.2m with EBITDA of EGP 945m and net income of EGP 525m for the first quarter ended 31 March 2006. During the same quarter last year, OCI reported consolidated revenue of EGP 2,440m with EBITDA of EGP 621.4m and net income of EGP 340.5 million. OCI Chief Executive Officer commented "An excellent start to the year. Consolidated earnings grew 54 per cent on the back of strong construction margins, and solid performanc... |
Saudi Qassim Cement Co Appoints Al-Amr Director General06 June 2006, Published under Cement NewsSaudi cement producer Qassim Cement Company (QCC) has appointed Amr bin Abdullah Ibrahim al-Amr director general, effective June 3, 2006, the company said. Al-Amr succeeded Khalid bin Salih al-Mudaifar who resigned for undisclosed reasons. Prior to the new appointment, al-Amr was CFO and deputy director general of Al Jomeih Bottling Factory. He has also worked with the Saudi Industrial Development Fund (SIDF), and local agricultural producer HADCO. |
Siam Cement wants growth as energy costs bite, Thailand05 June 2006, Published under Cement NewsHigh energy costs are hurting Siam Cement, its chief financial officer said on Monday. High oil prices, coupled with a 10 per cent increase in electricity costs, were likely to depress Siam Cement’s margins this year, Roongrote Rangsiyopash said in an interview with Reuters. "This year looks like we will be quite affected a little bit mainly because of energy," said Roongrote, who joined Siam Cement almost 20 years ago as an engineer. "So margins would probably be lower this year al... |
Conch and Prosperity Cement buy into Anhui Chaodong, China05 June 2006, Published under Cement NewsAnhui Chaodong Cement Group, has signed an agreement to sell a 40 per cent stake in the listed company to Wealcity (Prosperity minerals) and a 19.69 per cent stake to Anhui Conch Cement Co Ltd. According to a statement filed to Shanghai Stock Exchange, Anhui Chaodong Cement Group has therefore sold its entire 59.69 per cent stake in Anhui Chaodong Cement Co, held in the form of non-tradable state shares. The company said the total value of the deal was Yuan 284.14m (~US$35m) with Anhui Conc... |
Goldman Sachs builds up stake in Italcementi, Italy05 June 2006, Published under Cement NewsItaly’s stock market regulator, Consob, has revealed that US group Goldman Sachs Asset Management has increased its stake in Italian cement and concrete producer Italcementi. On May 31, Goldman Sachs’ upped its stake to 2.96 per cent, having entered Italcementi’s shareholding structure in mid-April with a stake of 2.01 per cent. |
Holcim Romania opens 15th batching plant05 June 2006, Published under Cement NewsHolcim Romania has recently launched its 15th concrete station in the country in the southern city of Campulung, the company said on June 2, 2006. The company invested EUR 750,000 in the new concrete station, its first mobile concrete station in the country. The Campulung rmc unit is fully automated, has an installed production capacity of 93m3 of concrete per hour and it will, for the time being, produce concrete for the upgrade works on the company’s local Campulung cement plant. |