Cement News tagged under: Corporate
Pushka ends Baturina chair function27 October 2005, Published under Cement NewsThe shareholders of the Kramatorsk-based cement plant Pushka (Donetsk region) at their October 18 meeting, have relieved Olena Baturina from the post of chairwoman of supervisory board. Baturina is a wife of Moscow mayor Yury Luzhkov, and she controls Inteko company (Moscow). Besides this, the shareholders have relieved Viktor Baturin, Oleh Soloschanskyi, Kostiantyn Edel and Volodymyr Huz from their posts of members of supervisory board, and appointed Misak Kacheyants, Volodymyr Stupa... |
Siam Cement Q3 profit down but beats forecast26 October 2005, Published under Cement NewsSiam Cement PCL , Thailand’s top industrial conglomerate, posted a 30 per cent fall in third-quarter profit as high oil prices squeezed petrochemical spreads and cement margins, but the result beat expectations. Risks of strong oil prices continue to weigh on the company’s outlook, although analysts expect prices of its petrochemical products to remain firm over the next two years due to limited new supply from the Middle East and China. The company also plans to hike cement prices next ... |
Raysut Cement net profit up26 October 2005, Published under Cement NewsOman’s cement producer Raysut Cement increased its net profit by 29.2 per cent year-on-year to 7.04 mln Omani rials (US$18.29m) in the first nine months of 2005, it was reported on October 25, 2005. The company’s operating income grew by 37 per cent to 21.02 mln rials (US$54.6m). Raysut Cement sold 891,907t of cement in the period, up by 19 per cent. |
Gujurat Ambuja to extend deal with Holcim25 October 2005, Published under Cement NewsLeveraging on its existing US$800m tie-up with Holcim, Gujarat Ambuja Cement (GACL) plans to extend its relationship with holcim in the Middle East. The company is in talks with Holcim for an exclusive cement supply arrangement for Holcim’s readymix cement (RMC) operations in the Middle East although the actual location is not specified. Holcim, along with Cemex, are significant suppliers of ready-mix in the Middle East, which is witnessing a surge in demand due to the ongoing construction... |
Eurocement Group Ukraine advances25 October 2005, Published under Cement NewsUkrainian plants of the Eurocement Group produced 2.1Mt of cement in 9M2005, up 11.6 per cent Y/Y. Balcem (Kharkov region, Balakleya) manufactured over 1.6Mt, an increase of 12 per cent Y/Y. The Kramatorsk cement plant Pushka (Donetsk region, Kramatorsk) produced 505,000t, an increase of 11 per cent. The capacity of Balcem and Pushka, consolidated into the company Eurocement Group Ukraine, is around 5Mt. In 2004, they produced 1.8Mt and 600,000t, respectively. Ukraine’s cement output last ... |
Holcim Romania targets 10 per cent rise25 October 2005, Published under Cement NewsHolcim Romania, targets its 2005 turnover to go up by 10 per cent year-on-year, the company’s general director Markus Wirth said on October 24, 2005. The turnover for 2004 increased by 30 per cent on the year to Euro 132m. Holcim Romania invested Euro 32m in three concrete units in 2005, as its further plans include investments of some Euro160m over the next three years. It also plans to invest Euro 3.0m in the construction of waste incinerators at its Campulung and Alesd plants. The compa... |
New cement plant for Saudi Arabia25 October 2005, Published under Cement NewsAl-Jazira Cement, a new cement company with a capital of 1.2 bln Saudi riyals (US$320m), will start operations in Saudi Arabia, local media reported on October 22, 2005. The company will be headquartered in the capital Riyadh and will build a cement plant in Hafr al-Batin, eastern Saudi Arabia. The plant is projected to have an annual output of 2.5Mt. Al-Jazira Cement’s capital will be divided into 24 million shares with a par value of 50 riyals (US$13.33) The company’s founders will subscr... |
Creditors opt to buy TPI Polene stake24 October 2005, Published under Cement NewsCreditors of Thai Petrochemical Industry Plc (TPI) have decided to acquire the 249-million share block of cement producer TPI Polene Plc for 41.20 baht per share after receiving a much lower bid at an auction last month. Under TPI’s US$2.7bn debt restructuring plan, the 30.8 per cent stake was to be auctioned with proceeds to go to creditors in exchange for a US$250m writeoff against TPI’s total debt. Creditors had the first right to accept the shares outright against the writeoff if the auc... |
UltraTech Cement posts profit in Q224 October 2005, Published under Cement NewsULTRATECH Cement India has reported a net profit of Rs 8 lakh for the second quarter ended September 30. The company had reported a net loss of Rs 2.29 crore during the corresponding year-ago period. The results for the quarter under consideration were adversely affected by floods in Maharashtra and Gujarat, which account for 50 per cent of Ultratech’s domestic sales; they were also affected by annual maintenance work at the company’s production lines, and by escalation in energy prices, sa... |
Cemex’s Third Quarter 2005 sales increase21 October 2005, Published under Cement NewsCemex has just announced that consolidated net sales in the third quarter of 2005 grew 110 per cent to US$4.3bn compared to the same quarter of 2004. This increase is primarily a result of the effect of the incorporation of RMC into Cemex’s consolidated results. Sales increased in the majority of Cemex’s markets due to higher cement, ready mix and aggregates volume. Infrastructure spending remains one of the main drivers of cement and ready-mix demand throughout Cemex’s markets, as was re... |