Cement News tagged under: Corporate
Saudi Eastern Province Cement Co Moves HQ18 October 2005, Published under Cement NewsSaudi cement producer Eastern Province Cement Company (EPC) has moved its headquarters in Dammam, in eastern Saudi Arabia, to a new building, local media reported in early October 2005. The new building is called Eastern Cement Tower and is located on the Khabar-Dammam highway. No further details were available. EPC posted a net profit of 149.6 mln Saudi riyals (US$39.9m) for the first half of 2005, up from 128 mln riyals (US$34.1m) for the year-earlier period, the Saudi Arabian News Digest... |
Turkerler acquires cement plant for $158.5m18 October 2005, Published under Cement NewsThe Turkerler Construction Company has submitted the highest bid of US$158.5m to buy Sanlıurfa Cement plant, formerly owned by the Uzan familiy, Cihan news agency reports. Some 18 companies had submitted bids for the privatization of the Sanlıurfa cement factory, which was put up for sale at a price tag of US$56m. The factory was sold to Turkerler Construction Company for a winning bid of US$158.5m. |
India Cements raises $100m17 October 2005, Published under Cement NewsIndia Cements Ltd on Friday said it has raised US$100m (about Rs 450 crore) by issuing about 2.3 crore global depository shares (GDSs). The GDSs, each representing two underlying equity shares of Rs 10 each were priced at US$4.3226 (Rs 194.5) or Rs 97.25 a share. The issue price was at a 3 per cent discount to the closing price on the National Stock Exchange on October 13, a company press release said. The funds will enable the company to improve its financial leverage and grow its business... |
Cemex continues to prosper17 October 2005, Published under Cement NewsCemex could have tripled its net profits in the third quarter of this year thanks to its acquisition of British firm RMC and gains from exchange rate fluctuations, according to Mexican newspaper La República. A survey of six sector analysts showed that their average forecast for Cemex’s net profits in July-September was US$634m, while the company actually made US$247m in the third quarter of 2004. In March this year Cemex finally wrapped up its acquisition of RMC for US$5.8bn, thus boosting... |
Votorantim restructures cement business17 October 2005, Published under Cement NewsVotorantim, the Brazilian industrial group, is restructuring Votorantim Cimentos (VC), its cement business. The group has appointed the engineer Walter Schalka as the new chairman of its cement division. Mr. Schalka, who comes from Dixie Toga, will replace Luiz Vilar de Carvalho on the 1st November 2005. Mr. Carvalho will remain in the company’s board of directors. One of the new chairman’s challenges will be the strengthening of the company’s internationalisation process, in which the compan... |
India Associated Cement 2Q Net17 October 2005, Published under Cement NewsIndian cement major Associated Cement Companies Ltd. said its fiscal second-quarter net profit jumped 154 per cent on year because of a one-time gain from the sale of its refractory business. Net profit for the July-September quarter rose to INR2.04 billion from INR802 million, including a profit of INR1.73 billion from sale of its refractory business, a non-core business which ACC sold in July for INR2.57 billion. In a notice to the stock exchange, ACC noted that industry sales have ris... |
Adelaide Brighton director buys17 October 2005, Published under Cement NewsAdelaide Brighton director Duilio Barro directly and indirectly bought bought 120,089 ordinary shares worth A$240,178 on-market between October 10 and 11. The price was A$2. The director previously held 13,731,849 ordinary shares and now the director holds 13,851,938 ordinary shares. Shareholders in AdBri have seen the value of A$1000 invested one year ago was A$1302, including a capital gain of A$245 and dividend of A$56.The total return to shareholders for one year is 30.17 per cent. ... |
HeidelbergCement expands its presence in Turkey14 October 2005, Published under Cement NewsAkçansa, a joint venture of HeidelbergCement and Sabanci Holding, has acquired the Ladik cement plant in an auction process carried out by the Turkish government. The plant with a clinker capacity of approximately 580,000t has a good market position due to its favourable location in the Black Sea region. With its bid of US$140m Akçansa won the auction in a tough competition. Akçansa, the leading cement and ready-mixed concrete producer in Turkey, has operations mainly in the Istanbul area... |
Pakistan profits from earthquake disaster!14 October 2005, Published under Cement NewsThe devastating earthquake that has left over two million Pakistanis homeless is expected to trigger a huge demand for cement as the country begins its biggest ever reconstruction exercise. Share prices of cement firms are on the rise even as reports of damage continue to pour in. "It (the earthquake) is a blessing in disguise for the cement industry," said Arshad Arif, head of research department at KASB Group. "I think it will be a multibillion dollar rebuilding exercise over the nex... |
Chilean industry plans US$134m investments14 October 2005, Published under Cement NewsThe three companies that make up Chile’s cement industry - Bío Bío, Melón and Polpaico - are planning to invest a total of US$134m in 2006 given the record sales expected by the industry this year, newspaper Estrategia reported. Cementos Bío Bío, controlled by Chile’s Briones group, has planned the largest investment of US$100m for installing new silos at its plant in CuricóRegion VI), opening a new coal mill in Antofagasta and finding alternative energy sources to gas. In the meantime... |