Cement News tagged under: Corporate
Polpaico posts US$19m earnings31 October 2005, Published under Cement NewsChilean cement producer Cemento Polpaico posted a consolidated 10.3bn-peso (US$19m) net profit during January-September this year, down 9.9 per cent compared to the same year-ago period, the company reported in a filing with the country’s securities regulator (SVS). The cement company’s revenues reached 97bn pesos in the period, up 11.8 per cent from January-September 2004. At the same time, operating profit also decreased 16.2 per cent to 14.1bn pesos in the first nine months of 2005 from ... |
Mediobanca Sells Stake in French Ciments Francais31 October 2005, Published under Cement NewsItalian investment bank Mediobanca SpA has sold it stake in French cement maker Ciments Francais SA, a subsidiary of Italian cement group Italcementi, it was reported on October 28, 2005. Mediobanca has booked a capital gain of Euro 100m ($121.4m) from the operation, the bank said in a statement. The bank has sold its stake, as it has registered a Euro 12m ($14.6 mln) loss, Mediobanca co-director general Renato Pagliaro said. Moreover, the shares are not quoted on the stock exchange, Pag... |
UAE Sharjah Cement profits up31 October 2005, Published under Cement NewsUAE cement producer Sharjah Cement and Industrial Development Company posted a net profit of 220.161 mln UAE dirhams (US$60m) for the first nine months of 2005, up from 98.425 mln dirhams (US$26.8m) for the same period of 2004. The company’s sales rose to 418.915 mln dirhams (US$114.06m) from 259.963 mln dirhams (US$70.8m), while costs grew to 226.225 mln dirhams (US$61.6m) from 161.896 mln dirhams (US$44.1m). |
Madras Cement net up31 October 2005, Published under Cement NewsMadras Cements has posted a 43.8 per cent jump in net profit, at Rs 18.8 crore for the quarter ended September 30, ’05, compared with Rs 13.1 crore in the corresponding period last year. Topline grew 25.5 per cent to Rs 246.1 crore. The board has declared an interim dividend of 50%. During the quarter, total expenditure was higher at Rs 194.7 crore (Rs 153.9 crore). This included higher raw material consumption at Rs 37.4 crore (Rs 31.7 crore), increase in power & fuel costs at Rs 71 crore (... |
Vulcan Materials Reports Record Third Quarter28 October 2005, Published under Cement NewsVulcan Materials Company, United States, today announced record net sales of US$749m and record net earnings of US$122m, or US$1.17 per diluted share in the third quarter. These amounts represent a 15 per cent increase in net sales and a 23 per cent increase in net earnings from the prior year’s levels. Earnings from continuing operations increased 39 per cent to US$128 million, or US$1.23 per diluted share. Discontinued operations - comprised of the Company’s former Chemicals business - rep... |
JP Morgan to take 25 per cent in Binani Cement28 October 2005, Published under Cement NewsJP MORGAN will acquire 25 per cent stake in Binani Cement Ltd, India as part of a debt and equity arrangement worth Rs 250 crore. The transaction will enable Binani Cement double its cement capacity from 2.25Mt to 4.5Mt at a cost of Rs 450 crore, said a news release from Binani Cement Ltd. Mr Braj Binani, Chairman of Binani Group said the partnership would enable rapid growth for Binani Cement. "This unique transaction structure enables Binani Cement to achieve multiple objectives ... |
GCC reports record results27 October 2005, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) now a leading cement producer in its markets in Mexico, United States and Bolivia, today announced its consolidated results for the quarterly period ended September 30, 2005. Increases of 12.9 per cent in sales, 21.4 per cent in EBITDA and 33.9 per cent in net income in the third quarter reflected growing demand for cement in the United States and the solid dynamics of the construction industry in Mexico. In September 2005, GCC took an important step fo... |
Peru’s Cementos Lima 3Q27 October 2005, Published under Cement NewsHigher operating costs reduced Cementos Lima SA’s third-quarter net income to 21.7 million soles ($6.4m) compared with PEN21.9 million ($6.5m) in the same quarter last year, it announced Wednesday in financial results released to the Peruvian regulatory agency, Conasev. Operating revenues rose to PEN171.2 million ($50.6m) in the third quarter compared with PEN139.3 million ($41.1m) in the same period a year earlier. Operating costs rose in part due to higher coal costs, the company said. ... |
Anhui Conch seeks more loans27 October 2005, Published under Cement NewsAnhui Conch Cement Co Ltd, China’s largest cement producer, is seeking a three-year loan of 350 mln yuan (approx US$44m) to help fund a heat-conversion project that could help it save up to 500 mln yuan per year, The Standard reported, citing banking sources. The Hong Kong-based newspaper said the loan, which is being arranged by BNP Paribas, is the company’s second fund-raising exercise in a month. It secured a 10-year loan of 650 mln yuan from International Finance Corp two weeks a... |
Sabanci cement group plans more investments27 October 2005, Published under Cement NewsErhan Kamisli, head of Sabanci Holding cement group, said that they planned US$600m investment in 2005-2008 period, including US$316m worth of cement plant purchases. Sabanci’ Cimsa and Akcansa recently gave best bids for Eskisehir Standart cement plant and Ladik cement plant respectively, which were previously owned by Uzan Group and tendered by SDIF (Saving Deposit Insurance Fund). Kamisli said that Akcansa and Cimsa would make US$135m and US$50m investments in coming years. According to K... |