Cement News tagged under: Corporate
Holcim extends Aggregate Industries bid01 March 2005, Published under Cement NewsHolcim said it is extending its takeover bid for Aggregate Industries PLC to March 21. Holcim said it now owns 78.4 per cent of the UK-based company after receiving acceptances from Aggregate Industries shareholders and buying shares on the stock exchange. The offer remains conditional on receiving regulatory approval from the European Union Commission, Holcim said. In January, Holcim offered 140 pence for each share of Aggregate Industries PLC, valuing the UK-based building materials ... |
Spanish Cementos Portland posts lower profits01 March 2005, Published under Cement NewsCementos Portland Valderribas SA posted an attributable profit of Euro 116.1m for 2004, a 21.8 per cent year-on-year decrease, the company said on February 28, 2005. The decrease resulted partially from the depreciation of the dollar against the euro, the company added. The consolidated turnover of Cementos Portland stood at Euro 881.5m an increase of 1.8 per cent. Of the total turnover, 77 per cent were generated in Spain. Sales of cement and clinker stood at 10.2Mt, of concrete, at ... |
Government & Cemex to continue out of court negotiations01 March 2005, Published under Cement NewsIndonesian government and Mexico based company Cemex Asia continued their out of court negotiation on Semen Gresik even though until yesterday there had not been any conclusion on that. The Senior Economic Minister Aburizal Bakrie said that the government would wait for the initiative of Cemex following the deadline of out of court negotiation period of the two parties. But, he said, the government had been preparing an option (reports Bisnis News). "The decision has been there. But we h... |
Demands not met, but no worries01 March 2005, Published under Cement NewsThe Indian cement industry expected a lot from this budget. But it has to be content with the fact that the continued focus on infrastructure development in the budget, if translated into action, should boost demand. The industry which had grown at a CAGR of 8% in the last 15 years registered a lower growth of 5.50% last year. Greater thrust on infrastructure and more importantly, newer options such as the proposed special purpose vehicle (SPV) to fund roads, ports, airports, tourism, etc sh... |
CeMAP appoints new chairman01 March 2005, Published under Cement NewsRenato c. Sunico has been voted as chair of the Cement Manufacturers Association of the Philippines (CeMAP) during the association’s last board meeting in December 2004. Mr. Sunico graduated with a degree in BS Electrical Engineering from the University of the Philippines and Masters in Business Management from the Asian Institute of Management before joining Amon Trading Corp. as vice-president and treasurer in 1973. He later on joined the Republic Cement Corp. Today, Mr. Sunico is the chair... |
Cementos Lima posts US$29.6m profits01 March 2005, Published under Cement NewsCementos Lima, Peru’s largest cement producer, posted a 96.5m-sol (US$29.6m) net profit in 2004, up 0.75 per cent from the previous year, Cementos reported to the country’s securities regulator Conasev. Net sales grew 2.16 per cent to 566m soles and operating profit fell 0.91 per cent to 145m soles due to increased operating costs. The bottom line was boosted by non-operating gains. In 2004, Cementos’ clinker production rose 19.6 per cent to 2.3Mt and cement output grew 16.1 per cent t... |
UAE Fujairah Cement profit soars01 March 2005, Published under Cement NewsUAE cement manufacturer Fujairah Cement Industries Company reported a surge in net profit to US$24.6m for 2004, up from US$9.7m in 2003. Earnings per share (EPS) rose to 26.07 fils (US$0.089) in 2004 from 10.28 fils (US$0.035) in 2003. The company’s management board has recommended a 17.5 per cent cash dividend for 2004. The proposal is subject to shareholders’ approval. Fujairah Cement was established in the emirate of Fujairah in 1979 and was listed on the Kuwait Stock Exchange (KSE) in ... |
Cemco tender offer28 February 2005, Published under Cement NewsThe Philippine Securities and Exchange Commission will stand by its decision ordering Cemco Holdings Inc. to conduct a tender offer for minority shareholders of Holcim Philippines Inc., SEC chairman Fe B. Barin said. In a press conference last Thursday, Ms. Barin said that the SEC was implementing both the letter and the spirit of the law when it came out with its decision on the mandatory tender offer. The SEC order, which was issued on Feb. 14, required Cemco to make a tender offer to minor... |
India Cements puts off sale28 February 2005, Published under Cement NewsIndia Cements has decided to defer plans to sell its manufacturing units in Andhra Pradesh flowing a large infusion of funds from overseas investor Asia Debt Management. The company was planning to sell Raasi cement and Visakha Cement, which have a combined capacity of 3.4Mta. The ailing India Cements of Chennai has finalised a deal to raise Rs655 crore through a mix of debt and equity by privately placing different financial instruments with Asia Debt Management of Hong Kong. |
Holcim Maroc net profit down28 February 2005, Published under Cement NewsHolcim Maroc, a subsidiary of Swiss cement supplier Holcim Ltd, posted a consolidated net profit of 354 mln Moroccan dirhams ($42m) for 2004, down 15.1 per cent year-on-year. Operating profit fell by 93 mln dirhams ($11m) to 473 mln dirhams ($56.2m). Consolidated turnover totalled 1.586 bln dirhams ($188m) versus 1.568 mln dirhams ($186m). Sales of cement, concrete, and aggregate rose by 7.3 per cent, 19 per cent, and 3.0 per cent, respectively. Among the factors which influenced the 200... |