Cement News tagged under: Corporate
EU OKs HeidelbergCement To Buy 50% Of Belgian Mermans21 September 2005, Published under Cement NewsThe European Commission cleared Germany’s Heidelberg Cement) to take a 50% share of Dutch cement company De Hoop Terneuzen BV’s Belgian subsidiary, Mermans Beton. |
Heidelberg Cement sets up joint venture in China21 September 2005, Published under Cement NewsHeidelberg Cement, the German cement group, has set up a joint venture in China together with Chinese competitor Tangshan Jidong Cement, which will produce and distribute cement from a production plant in the province of Shaanxi. The joint venture will produce 1.8Mt of cement this year at its first production plant, but will soon construct a second factory close to Xian, which will increase the joint venture’s annual production capacity to around 4Mt of cement. |
Italcementi H1 EBITDA flat as Egypt inclusion offsets weak Italy15 September 2005, Published under Cement NewsItalcementi SpA’s first half EBITDA due on Friday is expected to be broadly flat, with the first-time inclusion of its Egypt acquisition Suez Cement, offsetting weak Italy activities, analysts said. Net profit is seen at EUR156.8-166m, against 129.4m a year earlier, EBIT EUR359-380m, against EUR348.6m, EBITDA 510-545m, from 538.2 mln, and sales 2.388-2.404 bln, from 2.262 bln. ’Our forecast of flat performance is based on a sharp drop in the Italian contribution (down 28 mln eur) a... |
Buzzi Unicem increases first half pre-tax by 48 per cent14 September 2005, Published under Cement NewsBuzzi Unicem’s first half turnover rose by 5.2 per cent to EUR1,382.2m and the EBITDA advanced by 8.2 per cent to EUR328.1m. Helped by a 25.5 per cent drop in net finance costs to EUR69m and an increased contribution from associates, the pre-tax profit staged a 48.3 per cent advance to €162.3m. Net debt at the end of June stood at EUR1223.5m to give a gearing ratio of 65.3 per cent. Overall cement deliveries rose by 3.2 per cent to EUR15.6Mt in the period, while the ready-mixed concrete prod... |
Cemex offering to generate US$260m14 September 2005, Published under Cement NewsCemex has already significantly increased the efficiency of the UK’s RMC after buying it last year, is offering 31m shares after its stock price rose by two-thirds since the acquisition was announced. The non-dilutive offering, which represents about Dollars 1.6bn or 9 per cent of outstanding shares, would generate about Dollars 260m of profits for Cemex at its current share price. Although analysts expect Cemex’s share price to fall further in the short term, Carlos Peyrelongue,... |
Cementir’s balance sheet remains strong14 September 2005, Published under Cement NewsIn spite of having acquired Aalborg Portland Cement and Unicon last October, Cementir retains one of the strongest balance sheets in the sector and could easily afford further acquisitions. Net debt at the end of June stood at EUR329.5m, or a modest 48.3 per cent of shareholders’ funds, compared with net cash of EUR108.6m a year earlier. The first half turnover jumped by 166.7% to EUR402.9m, reflecting the two acquisitions from FLS Industries88. The EBITDA registered an increase of 113.84... |
Serbian Novi Popovac Renamed Holcim Srbija14 September 2005, Published under Cement NewsSerbian cement producer Novi Popovac changed its name to Holcim Srbija following a change in its ownership structure. Holcim acquired former Novi Popovac in April 2002 and under the terms of the purchase agreement the new owner pledged to invest a total US$85m (EUR68.9m). So far, US$53m of the agreed investments have been made and by the end of 2005 the invested funds will reach some US$70m, Holcim Srbija director general Darko Krizan said. The 2004 output of Holcim Srbija sto... |
Cemex guidance13 September 2005, Published under Cement NewsCemex said on Monday it saw third-quarter EBITDA close to US$1bn, up 50 per cent from a year earlier on higher sales. Cemex said revenues would reach US$4.4bn in the July-September period, up 115 per cent and largely boosted by income from the US$5.8bn acquisition of Britain’s RMC Group, the world’s largest ready-mix concrete maker. Cemex did not mention any impact of the expected massive reconstruction program in the United States from the devastation caused by Hurricane Katri... |
Cementir net profit at EUR27.9m H10513 September 2005, Published under Cement NewsItalian cement company Cementir SpA, a unit of local construction company Caltagirone, posted a net profit of EUR27.9m (US$34.4m) for the first half of 2005, up by 85% YoY. The company posted a net consolidated turnover of EUR402.9m (US$497.06m), up by 166.7% YoY. EBITDA stood at EUR82.8m (US$102.2m), up 114% YoY. Operating profit grew 100 per cent YoY to EUR49m (US$60.5m). Cementir’s net financial debt totalled EUR329.5m (US$406.5m) at June 30, 2005, compared to EUR330.9m euro (... |
Tunisia sells stake in cement co Sotacib to Spanish group13 September 2005, Published under Cement NewsTunisia has sold its entire, 50 per cent stake in the Tunisian-Algerian cement company Sotacib to an unnamed Spanish sector group. The sale comes after the second round of bidding for the company after a tender in April 2004 when only one company presented its offer, but it was considered unfavourable by the Tunisian government. In early 2004, the Tunisian and Algerian governments chose French bank BNP Paribas to assist them in the privatisation of 100 per cent of the jointly owned A... |