Cement News tagged under: Corporate
Turkish Adana Cimento Jan-Sept 2004 sales rise30 December 2004, Published under Cement NewsTurkish cement manufacturer and retailer Adana Cimento achieved gross sales of 139.1 trln Turkish lira ($103.2m) for the first nine months of 2004, against 112 trln lira ($83.1m) for the same period of 2003. Adana Cimento is one of Turkey’s biggest cement plant in terms of capacity. The factory has an annual capacity of 2.3Mt of clinker and 3.5Mt of cement. The company is part of the cement division of Turkish army pension fund Oyak. |
Indonesia Shares End At Record High28 December 2004, Published under Cement NewsIndonesian shares ended higher Tuesday, with buying in cement blue chips pushing the main index above the historical level of 1000 points, dealers said. Fund managers continued to snap up select blue chips to improve their books before year-end, but concerns over the rising death toll from the massive earthquake and tsunamis over the weekend prevented the main index from rising further, they said. Emergency teams attempted to reach remote areas in Indonesia’s quake and tsunami-devastated... |
China’s wholesale housing destruction28 December 2004, Published under Cement NewsChina’s wholesale housing destruction of its older neighbourhoods is slowing, with housing demolitions this year falling by more than half compared with 2003, Construction Minister Wang Guangtao said on Monday. Speaking at the annual two-day National Construction Work Conference in Beijing, Wang said total demolitions in 2005 will not rise above this year’s level, Xinhua News Agency reported. But he gave no concrete figures on the number of demolitions. Illegal destruction of homes has ... |
Victims lose it all, for companies it’s business as usual28 December 2004, Published under Cement NewsThe death toll continue to rise and reams are being written about the enormity of the tragedy that struck parts of South India on Sunday. However, the economic impact of the tragedy doesn’t seem to match the scale of death and destruction. For corporate India, the negative fall-out is expected to at most marginal. "The people and households affected by the disaster were so poor that they hardly consumed any manufactured goods," is the common refrain in corporate India. Cement makers wh... |
Buzzi Unicem buys more Dyckerhoff shares28 December 2004, Published under Cement NewsItalian cement and concrete manufacturer Buzzi Unicem SpA purchased five million ordinary shares of German cement maker Dyckerhoff, a company controlled by Buzzi Unicem, for Euro418.5m. Buzzi bought the shares from financial company Imi Finance Luxembourg SA, owned by Italian bank Banca IMI, a unit of local banking group San Paolo IMI. The shares are equal to 24.19 per cent of Dyckerhoff’s capital. The share transfer and the payment will take place on January 31, 2005. Thanks to the oper... |
Cemex unaffected by Tsunami in Southeastern Asia28 December 2004, Published under Cement NewsCemex, the world’s third largest cement maker, does not expect its operations in southeastern Asia to be affected by the devastating tsunami, which resulted from the worst earthquake in the past 40 years in the region, the company said on December 27, 2004. Cemex holds a minority stake in Indonesia’s state cement maker Semen Gresik, which operates four plants in Indonesia. Cemex also operates a plant in Thailand, a mill in Bangladesh and some sea terminals in the region. |
TPIPL: Improving earnings in 4Q0427 December 2004, Published under Cement NewsAfter an analyst’s meeting recently with TPI Polene (TPIPL), earnings are estimated to be boosted in 4Q04 with a normal profit of Bt677m (EPS Bt0.86), an increase of 32 per cent qoq, but a decrease of 27 per cent yoy. In 4Q04, TPIPL will not have any extra maintenance expenses and will enjoy a forex gain of Bt868m. TPIPL will have a net profit of Bt1454m(EPS Bt1.96), an increase of 992 per cent qoq and 61 per cent yoy. Over the long term, the cement business is expect... |
Prism Cement up on takeover buzz27 December 2004, Published under Cement NewsRumours of a possible sell out to foreign cement major Lafarge saw the stock of India’s Prism Cement touch new highs on the bourses on Friday. Brokers attribute the large volumes and the fact that the counter hit the upper circuit to rumours of a takeover. Taking a more cautious stand are analysts who believe that the run up is on account of speculation. There are those who question the validity of the rumour as the EV/ton is also said to be too expensive. |
China to invest US$12bn for rural highway construction27 December 2004, Published under Cement NewsChina will invest 100 billion yuan (US$12bn) from 2006 to 2010 to build more rural highways, said Zhang Chunxian, minister of communications, in Beijing Sunday. At a yearly national communications meeting, Zhang said all administrative villages in China will be connected by highways at the end of 2010. According to statistics from the transportation department, 123 towns and 11,200 villages have built highways in 2004. About 250,000km of highways have been upgraded to expressways and 13... |
Orascom risk ratings27 December 2004, Published under Cement NewsFitch Ratings, the international rating agency, has just assigned Egypt-based Orascom Construction Industries’ ("OCI") upcoming bond issue a National ’BBB+(egy)’ rating, based on unconsolidated accounts and the term sheet provided by the company dated 14 December 2004. This is the third National rating it has assigned to OCI’s bonds. At the same time, Fitch has downgraded the OCI’s second bond issue (EGP400 million) to ’BBB+(egy)’ from ’A-(A minus)(egy)’ based on unconsol... |