Cement News tagged under: Corporate
Open offer for Everest on hold17 March 2005, Published under Cement NewsAs a direct fall out of rescheduling of the Holdcem Cement Pvt Ltd (HCPL) open offer to shareholders of ACC and Ambuja Cement Eastern Ltd (ACEL), the offer for Everest India Ltd (EIL) has been put on hold. Tight scrutiny of the public announcements (PAs) undertaken by the Securities and Exchange Board of India (Sebi) has taken its toll, this time, on yet another open offer made on behalf of Accurate Finstock Pvt Ltd (AFPL) and Adani Port Infrastructure Ltd (APFL) to EIL shareholders (reports... |
Caltagirone net debt reduction17 March 2005, Published under Cement NewsItalian holding group Caltagirone registered a net financial debt of Euro 169.5m at end-2004, it was reported on March 16, 2005. The group had a net financial position of Euro 183.6m at end-2003. The fall in the net financial position of Caltagirone was due to the investment of Euro 572m in the acquisition of Danish cement maker Aalborg Portland and ready-mixed concrete maker Unicon on behalf of Caltagirone’s cement unit Cementir. Note: the net financial position/net financial debt is calcul... |
Semapa net profit quadruples16 March 2005, Published under Cement NewsPortuguese conglomerate Semapa SGPS which is a majority owner of Portuguese cement maker Secil, said net profit more than quadrupled to Euro 182.1m last year from Euro 40.1m in 2003, because of gains from the disposal of nine per cent in Cimpor. Net debt surged to Euro 182.1m eur from Euro 40.1m as a consequence of Semapa’s acquisition of a 67 per cent majority stake in paper maker Portucel SA, the company said. Group sales grew to Euro 700m in 2004 from Euro 417.8m previously. Semapa ... |
Taiwan’s Asia Cement to inject more capital16 March 2005, Published under Cement NewsAsia Cement Corp said its board has approved the injection of US$33.16m into its China-based unit Jiangxi Yadong Cement Co. Ahead of the injection, the unit now has paid-in capital of US$126.44m, it said in a filing to the Taiwan Stock Exchange. |
Moldovan Ciment Rezina16 March 2005, Published under Cement NewsMoldovan cement producer Ciment Rezina, majority-owned by French building materials group Lafarge, increased its net profit twice to 19 mln Moldovan lei (Euro 1.1m) in 2004 compared to 2003, it was reported on March 15, 2005. The company’s sales revenue grew by 70 per cent year-on-year to 231.7 mln lei (Euro 13.8m) in 2004, Ovidiu Crisu, head of Lafarge in Moldova, said on March 15, 2005. Ciment Rezina increased the production of clinker by 25 per cent to 339,000t in 2004. The company prod... |
Ciments Francais says Egypt Cement offer oversubscribed16 March 2005, Published under Cement NewsCiments Francais, the French unit of Italy’s Italcementi SpA, said Tuesday its revised offer, launched in conjunction with a number of other international investors, to buy some 21 million extra shares in Suez Cement was oversubscribed. Ciments Francais will now lift its overall stake in the Egyptian cement supplier to 54.2 per cent, the French company said in a statement. |
Lafarge to develop its US positions16 March 2005, Published under Cement NewsBruno Lafont, managing director of Lafarge, the French building materials group, has said that it is interested in consolidating its position in mature markets such as North America as well as continuing to develop in emerging countries. Mr Lafont goes on to say that Lafarge has significant development potential in North America, particularly in the still-fragmented aggregates sector and the concrete industry, where demand is still strong. Similarly, Philippe Rollier, head of Lafarge No... |
Cementos Bio Bio earnings up15 March 2005, Published under Cement NewsChile’s Cementos Bio Bio posted a 24.4bn-peso (US$41.4m) consolidated net profit in 2004, up 18.7 per cent from the previous year, the cement maker reported to the country’s securities regulator (SVS). The results were due to a 5.2 per cent increase in cement shipments, while the industry as a whole grew 4.8 per cent. Other factors that helped increase net profit included a 23.4 per cent jump in concrete shipments due to increased requirements from mining companies in the country’s north, a... |
Lafarge ups stake in Vietnam concrete business15 March 2005, Published under Cement NewsLafarge Malayan Cement Bhd subsidiary Supermix Concrete (Malaysia) Sdn Bhd has acquired the remaining 57 per cent stake in Supermix Asia Pte Ltd that it does not already own from another Lafarge subsidiary Supermix Concrete Pte Ltd for RM5.7 million cash. Through the acquisition of the 684,000 shares or 57 per cent stake, Supermix Asia, which holds a 70 per cent equity interest in Supermix Concrete (Vietnam) Co Ltd, was now fully owned by Supermix Concrete Malaysia, it said on March 14. |
Omani Raysut Cement profits up15 March 2005, Published under Cement NewsOman’s cement producer Raysut Cement Co achieved a net profit of 7.017 mln Omani rials ($18.2m) for 2004, compared to 4.921 mln rials ($12.8m) in 2003, it was reported on March 14, 2005. The company’s total sales reached 21.52 mln rials ($55.9m) in 2004. Due to the increase, the board of directors of Raysut Cement Co has proposed a cash dividend of 15 per cent for 2004. The proposal is subject to approval by the company’s shareholders’ meeting scheduled for April 28, 2005. |