Cement News tagged under: Corporate
Siam Cement Group prepares for change18 January 2006, Published under Cement NewsThis year will be another milestone for SCC as members of the existing top management transfer control to a new generation of executives, the Bangkok Post reports. Six top executives, including president Chumpol NaLamlieng, are set to retire for this year. Other departing executives are Dusit Nontanakorn, president of Cementhai Distribution Co; Chalaluck Bunnag, president of Cementhai Holding Co; Aviruth Wongbuddhapitak, president of Cementhai Property (2001) Plc; Apiporn Pasawat, president... |
Siam City’s 4Q-05 earnings disappoint18 January 2006, Published under Cement NewsAs rising energy costs pressured the profitability of cement producers in 2005, Siam City Cement (SCCC) raised its selling price by around 6.5 per cent to be Bt1650 per tonne in November. However, SCCC’s overall earnings for 4Q05 will be relatively disappointing with net profit of Bt706m, down 19.5 per cent YoY and 32 per cent QoQ mainly from gross margin contraction from extra costs charged in the quarter. KGI Securities says the recent rise in SCCC’s share price has not been justified gi... |
Holcim Romania investments18 January 2006, Published under Cement NewsHolcim Romania projects Euro 160m worth of investment until 2008, the Ziarul Financiar newspaper reports on Tuesday. The upgrading of technologies and environment protection are in focus. The Holcim management expects the turnover to rise roughly 12 per cent in 2006 on 2004, from Euro 130m to Euro165m. General Manager of Holcim Romania Co., Markus Wirth, says the growth rate of the domestic market of cement stood at eight per cent in 2005 and will keep the same in 2006, depending on th... |
Shree Cement net up 70 per cent18 January 2006, Published under Cement NewsShree Cement reported a 70 per cent increase in its net profits for the quarter ended December 31, 2005, at Rs 27.95 crore from Rs 16.49 crore in the same period last year. Total income increased by 7.49 per cent from Rs 134.83 crore to Rs 144.99 crore. The Rajasthan-based company saw a 7.37 per cent growth in its net sales at Rs 144.28 crore for the third quarter, as against Rs 134.39 crore in the same period last year. Gross profit went up by 7.49 per cent to Rs 40.55 crore from Rs 35.25 cr... |
Adana Cimento suspends talks with Oyak18 January 2006, Published under Cement NewsCement company Adana Cimento said that it suspended talks with Oyak regarding the sale of its shares in Oysa Cimento. In November, Adana Cimento announced that it would sell 3.21 per cent of its Oysa shares to the Turkish military pension fund Oyak within two months. The statement released yesterday by Adana Cimento read that there would be further public announcement in case of any development regarding the sale of shares. |
Anglo American to divest of Tarmac?17 January 2006, Published under Cement NewsIn its strategic review published last autumn, the large international mining group Anglo American took a close look at its non-mining interests and decided to sell its stake in Highveld Steel and to prepare for the likely divestment of its paper and packaging business, Mondi, among other things an important producers of cement sacks. The reported appointment of merchant banks to handle the divestment of not only Mondi and Highveld Steel but also AngloGold Ashanti highlights the questio... |
Conch unveils non-tradable-share reform plan17 January 2006, Published under Cement NewsAnhui Conch Cement Co said its parent is offering holders of its A shares a total of CNY180m (US$22.3m) to compensate them for allowing the listed company’s non-tradable shares to become tradable. China Anhui Conch Group, which owns a 49.57% stake in the listed company in the form of non-tradable shares, said it will offer Anhui Conch Cement’s A-share investors CNY9.00 in cash for every 10 shares they hold, according to a statement published in the Securities Times Tuesday. The par... |
Sh1.6bn East African Portland tender cancelled, Kenya17 January 2006, Published under Cement NewsThe Government has cancelled a Sh1.6bn East African Portland Cement Company (EAPCC) tender citing "serious flaws" in the tendering process. The stoppage blocks the giant cement firm from going ahead with the construction of a new cement mill. The Public Procurement Complaints, Review and Appeals Board says that the procurement process for the EAPCC tender was flawed and that the laid down rules on procurement and public tendering were not correctly followed. The ruling was made las... |
Cemmac Merges with Cemus, Slovakia17 January 2006, Published under Cement NewsCement producer Cemmac, a.s. Horne Srnie has merged with trade company Cemus, s.r.o. Horne Srnie. Both companies’ general shareholder meetings blessed the merger that came into effect on January 3, 2006. Cemus ceased to exist and all its rights and obligations were transferred to Cemmac. The Cemmac company was the exclusive owner of the former firm. Cemmac reported output of SKK 517.3m on production costs of SKK 305.6 million in the first half of last year. H1 sales reached SKK 539.6m and... |
Spinnaker to acquire 45.23% in Sanghi Industries, India17 January 2006, Published under Cement NewsThe British Virgin Islands-based investment fund Spinnaker Global Opportunity Fund Ltd along with two other Spinnaker funds has decided to make an open offer to the shareholders of Sanghi Industries Ltd (SIL), the Hyderabad-based cement and clinker manufacturer, for acquiring 4.35 crore equity shares of Rs10 each aggregating to 20 per cent of equity. The acquisition is being described as a move to rehabilitate SIL, which has been facing financial difficulties over the past few years due ... |