Cement News tagged under: Corporate
Thirty staff are axed at Castle04 October 2005, Published under Cement NewsAlmost a third of the workforce at Clitheroe’s Castle Cement will go as the firm struggles to come to terms with its "most intense competition for many years." Around 48 production staff at its Ribblesdale Works will be axed in the next few weeks, taking the number of workers in Clitheroe to just 110. Staff at the cement giant, which employed around 300 staff only four years ago, learned of the redundancies in a letter sent to all employees from the firm’s managing director Peter Weller.... |
Semapa 1H Net Profit EUR21M Vs EUR136M03 October 2005, Published under Cement NewsCement company Semapa said its consolidated net profit was EUR21m in the first half of 2005, down from EUR136m in the same period the previous year. The drop in profit was related mainly to the comparison figure from 2004, which included one-time gains from large stake sales in units Secil and Cimpor, the company said. Sales, meanwhile, rose to EUR751m from EUR241m, powered mainly by the acquisition of a 37 per cent stake in pulpmaker Portucel, the company said. |
Singapore’s Jurong Cement lower on H1 profit warning03 October 2005, Published under Cement NewsJurong Cement Ltd was sharply lower after it said it expects to report losses in the first half to September, citing operational difficulties in China, dealers said. The company said Beijing’s efforts to cool the Chinese economy had negatively affected cement selling prices in the first half of the company’s financial year. Power interruptions and delays in technical upgrading at one of its production lines also resulted in low sales for the period. |
Cemex increases share offering03 October 2005, Published under Cement NewsMexico’s cement maker Cementos Mexicanos (Cemex) posted an increase of 3,993,000 securities in the global secondary share offering it made, as demand was oversubscribed. Resources gained with the placement added US$1.5bn, of which US$1.3bn will be earmarked for paying future purchase contracts. This abstract is provided by Internet Securities, Inc. as a service to its customers. Internet Securities, Inc. makes no representation or warranty regarding the accuracy or content of the tra... |
H+H moves into Poland03 October 2005, Published under Cement NewsH+H International is aiming to consolidate its position as Europe’s second largest producer of aerated concrete by signing a conditional agreement to acquire four aerated concrete plants in Poland. Three of the four plants, which have a combined current annual production capacity of around 0.8Mm³ and an output last year of 675,000m m³, primarily serve the greater Warsaw market. The fourth, Prevar, is in the south of the country, near Krakow. Poland, with an annual consumption of some 4.3m... |
Greek cement firm Heracles’ H1 profit drops30 September 2005, Published under Cement NewsGreek cement maker Heracles , majority owned by France’s Lafarge , reported on Thursday a 30.9 per cent drop in its first-half pretax profit to 28.4 million euros. "Favourable weather and demand conditions during the second quarter of 2005 mitigated the negative impact of the completion of the Olympic projects," the company said in a statement. Group sales in the first half fell 3.7 per cent to Euro 286m. Export turnover increased 42 per cent during the first six months of the year, the ... |
Mexican GCC To Expand in South America, USA30 September 2005, Published under Cement NewsMexican cement maker Grupo Cementos de Chihuahua (GCC) will expand operations in South America and the United States in a mid term, the investor relations director of the company, Luis Carlos Arias, said on September 28, 2005. At the beginning GCC will invest $80 mln (66.32 mln euro) to buy cement plants or cement companies in the USA or South America, Carlos Arias added. The company studies at present projects for the purchase of plants in the regions quoted. GCC recently bought a 46.57 pe... |
SEC approves Fortune Cement Merger29 September 2005, Published under Cement NewsThe Philippines’ Securities and Exchange Commission has approved the merger of Fortune Cement Corp and Continental Operating Corp., with Fortune Cement as the surviving entity. The merger was first disclosed in June. The regulator also approved Fortune Cement’s increase in authorized capital to PHP4.232 billion from PHP3.032 billion. The new authorized capital is divided into 4.20 billion common shares and 32 million preferred shares, all of which will have a par value of PHP1. |
Cemex Completes Secondary Share Offering29 September 2005, Published under Cement NewsMexican cement maker Cemex SA completed its secondary share offering Wednesday, raising about $1.53 billion, the Mexican Stock Exchange said. The exchange said in a press release that including over-allotments, Cemex placed 80.5 million CPO shares at 53.89 pesos each in Mexico, and 22.9 million American Depositary Shares at US$49.50 an ADS in international markets. The secondary offering is related to company stock options, which triggered when Cemex shares broke above the knock-out pri... |
Mexico’s Cemex set to price $1.5 billion ADR offer28 September 2005, Published under Cement NewsMexico’s Cemex will fix the price of a share offer worth around $1.5 billion after the stock market closes on Tuesday. Cemex plans to sell 27 million of its American Depositary Receipts (ADRs), currently trading near all-time highs, from a trust that has held them against forward contracts with banks as part of an executive stock option scheme. Analysts have said the sale should raise close to $1.5 billion and company directors have said obligations to the banks would be around $1.3 bi... |