Cement News tagged under: Corporate
Southern Province cement elects new board20 December 2005, Published under Cement NewsSaudi cement producer Southern Province Cement (SPC) has elected a new board of directors at a general shareholders’ meeting. The board has a three-year term starting from January 1, 2006. Among the newly elected board members are Khaled bin Turki al-Turki, Abdullah Abdul Rahman, Mansour al-Mayman, Hamad al-Baazi, and Amir Saeed Burqan. SPC posted a net profit of SAR323.1m (US$86.2m) for the first half of 2005, up 14.1 per cent YoY. |
Aggregate chief Tom steps down20 December 2005, Published under Cement NewsPeter Tom is to step down as chief executive of quarry giant Aggregate Industries and become the group’s part-time chairman. Mr Tom, 65, will be replaced by Bill Bolsover, currently the Bardon-based company’s chief operating officer. Both men take up their new posts on January 1. Part-time chairman Lord Fowler is to become a member of parent company Holcim’s governing body. The cement maker bought Aggregate for UK£1.8bn in January. Mr Bolsover will become area manager at Holcim, in char... |
Hanson expects 12% profit growth in 200520 December 2005, Published under Cement NewsHanson is expecting trading profit to increase by around 12 per cent in 2005 in spite of higher energy costs, with the main improvements coming from the United States and Australia. In North America, aggregates prices were raised by an average eight and 10 per cent increase was achieved in ready-mixed concrete, asphalt and cement. Cement shortages in Arizona have restricted ready-mixed concrete deliveries there. In California, where the group has its own cement plant, one price increase has... |
Capital Expenditure of Semen Gresik rising19 December 2005, Published under Cement NewsPT Semen Gresik (SG) set the budget of capital expenditure as much as IDR700 billion next year, some of which was to develop new facility. The management of the company planned to conclude the feasibility study on the development of the new facility early next year, so that the shareholders would be able to approve the plan on their meeting on February next year. The President Director of Semen Gresik, Dwi Soetjipto, said that the feasibility study on the new facility development was ru... |
New management at UEM19 December 2005, Published under Cement NewsIn a strategic move to expand and grow its foray of businesses internationally UEM Group had announced the appointments of two senior directors to spearhead its International Business Division. In a statement today, the group said Datuk Rosli Sharif, 50, has been appointed Senior Director, International Business, covering the Asean, Middle East, African and OIC (Organisation of Islamic Conference) markets effective Jan 1. Rosli is currently the Managing Director of the Group’s manufacturing... |
Cementos Portland debt increases19 December 2005, Published under Cement NewsThe regulator for the Spanish stock exchange, the CNMV, has revealed that as a result of the takeover bid launched by Spanish cement group Cementos Portland Valderrivas on December 2 for cement manufacturer Cementos Lemona, the debt of the new group would stand at Euro 466m. Cementos Portland, a subsidiary of leading Spanish construction and services group FCC, offered Euro 32 per share, bringing the total value of the bid to Euro 248.3m. As a result of the takeover, the success of which i... |
Vietnam Encourages State firms to issue bonds19 December 2005, Published under Cement NewsVietnam’s Ministry of Finance, or MOF, is encouraging Vietnamese companies to issue international bonds to raise funds for their domestic investment projects, senior ministry officials said Monday. The MOF, which held a meeting Friday to review its first sovereign bond issuance of $750m and prepare for new issues in 2006, has told state-owned firms to immediately pursue issuance plans, Deputy Finance Minister Le Thi Bang Tam told the official Vietnam Financial Times newspaper. State firm... |
Cemex ADRs down marginally19 December 2005, Published under Cement NewsADRs in Mexican cement giant Cemex SA down 0.6 per cent at $60.11. Earlier, the firm said it expects to meet its profit targets for 2005 after nearly doubling sales through a major acquisition and that it will end the year with debt below its comfort level. Total sales nearly doubled in the fourth quarter to $3.9bn, and will likely end the year up 88 per cent at US$15.3bn, Cemex said. "All segments of cement demand in the United States have been strong during the year. Spending in highways an... |
Cemex forecasts an EBITDA of some US$3,600m for 200516 December 2005, Published under Cement NewsIn announcing its expectations for the final quarter of 2005, Cemex is indicating a turnover for the full year of in excess of US$15,200m. This includes RMC Group for 10 months and represents an increase of around 88% on what the group achieved in 2004. The management expects the EBITDA to rise by some 42% to approximately US$3,600m, based on forecasts of increases of EBITDA and turnover in the fourth quarter of some 63% and 95% respectively. For 2006, the group is suggesting that the EBITD... |
GP Goenka woos investors for Andhra Cements16 December 2005, Published under Cement NewsAmid abundant speculation that Andhra Cements Ltd has been put on the block, the G P Goenka controlled company is negotiating with at least two strategic investors to raise Rs 70-75 crore to revive fortunes of the ailing cement company. The cement industry has been rife with the buzz that Andhra Cements principal promoter, GP Goenka, who holds 71.6 per cent stake in the company is planning to offload his entire holding to an Indian cement major. However, talking to DNA Money, GP Goenka... |