Cement News tagged under: Corporate
Siam City Cement sees no sales growth31 May 2006, Published under Cement NewsSiam City Cement PCL , Thailand’s second-biggest cement maker, said on Tuesday it expected no growth in sales this year due to weak domestic economic expansion. Previously, the company had expected to sell five per cent more cement this year, Chantana Sukumanont, executive vice president for marketing and sales, told reporters. "We have revised down our sales forecast this year. It should be no growth from last year’s 12Mt.” Chantana also said SCCC, whose major competitors are market lea... |
Monarch hits nine year high31 May 2006, Published under Cement NewsEBITDA for The Monarch Cement Company for its twelve months ended March 31, 2006 was $26,088,413, a 108 per cent increase over the year earlier same twelve months when Monarch Cement generated $12,517,303 in earnings. EBITDA for the most recent twelve months also reached a nine year high.For Monarch Cement’s quarter ended March 31, 2006 EBITDA was $3,778,101, compared with $2,401,216, a 57 per cent increase over the comparable year earlier quarter. Monarch Cement has generated five consecuti... |
Pricing-fixing trial against German producers delayed31 May 2006, Published under Cement NewsHeidelberg Cement said the start of a civil damages trial against it and five other German cement producers has been delayed until Dec 6. The civil hearing in the Duesseldorf regional court, originally scheduled to begin on June 7, is being brought by several companies, which are seeking Euro 210m in damages for decades of pricing-fixing in the cement sector. In 2003, the German Cartel Office saddled the cement companies with a Euro 661m fine for price-fixing, the largest penalty of its ... |
Energy costs impact on Siam Cement30 May 2006, Published under Cement NewsHigh fuel costs and a slow down in the economy will affect Siam Cement’s performance this year, a report in Krungthep Turakij said. Although demand for cement rose three per cent in the first quarter, Siam Cement predicts that its sales income this year will rise less than expected because many construction projects have been postponed. Rising fuel costs have had a significant impact on Siam Cement’s business. The company is investing in energy conservation technology. For instance, the... |
Cimpor buys into Firmes y Hormigones30 May 2006, Published under Cement NewsCimpor SGPS said Monday it has acquired 40 per cewnt of Spain’s Firmes y Hormigones SANI for Euro 4.19m. Cimpor also said it had arranged an option to buy, under the same terms, an additional 50 per cent of the Spanish company. The main activity of Firmes y Hormigones SANI consists in extracting, screening and commercializing around 600,000t of aggregates in two quarries located in the region of Badajoz. It also produces and sells 150,000 cubic meters a year of ready-mix concrete, and... |
Titan Cement considers bid for Uniland30 May 2006, Published under Cement NewsTitan Cement said it is considering submitting a bid for the acquisition of a 73.7 per cent stake in Spanish cement-maker Uniland worth about Euo 1.5bn. "The estimated price is considered valid," Titan said Monday, referring to media reports on Uniland’s value. Titan said the submission of bids is scheduled for June 7. |
Madras Cements plans expansion30 May 2006, Published under Cement NewsMadras Cements Ltd said on Monday its board approved setting up a new 2Mta cement plant at a cost of 6.13 billion rupees. The new plant is to be located in Tamil Nadu. The company also plans to set up an additional clinkering facility at its plant in Andhra Pradesh at a cost of 4.39 billion rupees, it said in statement. Both the projects are slated to become operational in 2007/08. |
JK Lakshmi Cement net profit up30 May 2006, Published under Cement NewsJK Lakshmi Cement today reported a 113 per cent growth in its net profit at Rs 55 crore for the fiscal 2005-06, as against Rs 26 crore in the year-ago period. The company’s sales during the period under review rose by 18 per cent at Rs 700 crore, compared to Rs 592 crore in the previous year, JK Lakshmi said in a statement. The increased profitability was due to improvement in all the efficiency parameters of production, logistics and working capital management, the company said. JK Lakshmi ... |
Readymix appoints finance director26 May 2006, Published under Cement NewsIrish cement products manufacturer Readymix has appointed Sergio Martinez finance director. He will join the board on June 1 2006. The building materials group added Martinez joined Cemex in 1997, and has held executive positions in the areas of corporate, business, and strategic planning. Readymix chairman Adrian Auer said: "This appointment considerably strengthens the senior management team of Readymix plc, and is further evidence of our commitment to the reshaping of the business... |
Prosperity Minerals raises UK 115m26 May 2006, Published under Cement NewsProsperity Minerals has joined Aim via a placing that raised UK£115m. The Hong Kong-based company was advised by Evolution Securities in its placing of 77.7m shares at 148p with institutional investors. The placing values the company at UK£191m. Prosperity, which supplies cement and iron ore to China, will use the proceeds for capital expenditure, to fund an acquisition of its interest in two cement plants and to improve its financial position. |