Cement News tagged under: Corporate
Ssangyong Cement to sell US$200m in bonds18 November 2005, Published under Cement NewsSsangyong Cement Industrial Co., South Korea’s largest cement manufacturer, said Friday that it plans to sell US$200m in floating rate notes. The three-year secured debt will carry a coupon rate of six-month London Interbank Offered Rate (LIBOR) plus 0.2 percentage point. The proceeds from the debt sale will be used to refinance and pay off maturing debts, it said. The deal will be arranged by the Korea Development Bank, one of South Korea’s state-run lenders. |
Deputy criticises lack of action17 November 2005, Published under Cement NewsThe Irish government has failed to act on the "rip-off" practices by firms such as Cement Roadstone Holdings, which the European Court of Justice found to have engaged in "serious anti-competitive behaviour", said Fine Gael’s enterprise spokesman Phil Hogan. He said CRH profits had been extracted from the Irish economy by means of a complex industry structure that was anti-competitive and anti-consumer. Countries such as Sweden, Britain, and Germany "have since levied huge fines against the... |
French HSBC cuts stake in Cimpor17 November 2005, Published under Cement NewsFrench financial group HSBC Financial Products has reduced its stake in the share capital of Portuguese cement company Cimpor to 1.06 per cent, Cimpor announced in a report to Portugal’s national securities regulator CMVM on November 15, 2005. HSBC’s previous stake in Cimpor’s share capital stood at 2.55 per cent. HSBC controlled a total 17.1 million Cimpor shares, corresponding to 2.56 per cent of the voting rights. According to latest available data, Cimpor’s first half 2005 profit fel... |
Barloworld ’on track’17 November 2005, Published under Cement NewsSouth African industrial brands group Barloworld on Wednesday reported a five per cent increase in headline earnings per share. The group’s net profit was up 23 per cent to R2.176bn, while operating profit before goodwill and amortisation was up 17 per cent to R3.48bn. Cash flows from operations remained strong at R3.6bn. "Since the introduction of value-based management six years ago, we have grown headline earnings per share at a compound growth rate of 20 per cent per annum. In 2002, w... |
Caltagirone profits soar16 November 2005, Published under Cement NewsCaltagirone, the Italian diversified group, saw its consolidated turnover jump year-on-year by 89.2 per cent in the first nine months of 2005, to Euro 760.6m. Even more spectacularly, the group’s profits leapt 115 per cent, to Euro 110m, while its gross operating margin climbed 89.8 per cent, to Euro 146.6m. The increases stem largely from the inclusion in Caltagirone’s accounts of Unicon and Aalborg, the Danish cement companies which were acquired earlier this year by the group’s own cement... |
Lithuanian cement news16 November 2005, Published under Cement NewsAkmenes Cementas, Lithuania’s only cement manufacturer, reported sales of 103.37 million litas (Euro 29.96m) for the first ten months of 2005, a rise of 13.8 per cent from the year-earlier figure of 90.87 million litas. In October alone, the sales surged by 20.6 per cent, year-on-year, to 12.6 million litas, from 10.45 million litas in October 2004. "The growth in sales remains fast both on domestic market and on foreign markets, including Latvia, Russia, the Kaliningrad region and Finla... |
Jaiprakash Associates to increase cement capacity16 November 2005, Published under Cement NewsJaiprakash Associates Limited, a flagship company of Jaypee Group, has embarked on a Rs 900 crore cement manufacturing expansion that would see its total capacity going up to 10Mt from the current 7Mt "We are setting up a three million tonnes plant in Himachal Pradesh at an investment of Rs 900 crore. The plant is likely to be completed by 2007," Mr Manoj Gaur, Managing Director of Jaypee Group, told reporters. Since construction of hydroelectric power plants and presence in the engineeri... |
Holcim Thai unit to sell bonds15 November 2005, Published under Cement NewsA Thai unit of Switzerland-based Holcim Ltd, Holcim Capital (Thailand) Ltd, will likely sell up to THB8 billion of senior secured bonds with three-year, five-year, and seven-year maturities by early next month, said a fund manager familiar with the deal Tuesday. The roadshow for the bonds, which will be offered to institutional investors, will be held Wednesday. The bonds will be fully-guaranteed by Holcim. The proceeds will be used to repay debts of other Thai units, Holcim Capital said i... |
Misr Cement Qena 9-month profit up15 November 2005, Published under Cement NewsEgypt’s Misr Cement Qena reported a net audited profit of 120 million Egyptian pounds (US$20.8m) in the nine months to the end of September, up 124 per cent from 53 million in the same period of 2004, the stock exchange said in a statement. It gave no further details. Egyptian cement companies have benefited in recent months from a construction boom in the region. |
Argentine’s Juan Minetti15 November 2005, Published under Cement NewsArgentina’s cement producer Juan Minetti posted a net profit of 67.5m Argentine pesos (US$22.7m) for the period from January to September 2005, up by 65.5 per cent year-on-year. |