Cement News tagged under: Corporate
Hardie attempts to raise US prices27 December 2004, Published under Cement NewsJames Hardie Industries will attempt to push through a hefty January price rise for its building products in the US, in a bid to boost profits and offset its asbestos liability costs reports the Sydney Morning Herald. After reaching an in-principle agreement last week to pay $1.5 billion in compensation to asbestos victims over the next 70 years, James Hardie will now move to raise the prices of its US fibre cement products by up to 10 per cent. Shares in the fibre cement maker ended las... |
GCC to record seven per cent growth27 December 2004, Published under Cement NewsAbu Dhabi: The GCC economies will record economic growth of about seven per cent this year, spurred by higher oil revenues, sectoral diversification and reforms, experts said. "When you look at the overall picture, the economies of the GCC countries are headed for another year of excellence and 2004 will close with higher growth than the previous year," said Dr. Mohammad S Amerah, an Abu Dhabi-based economist. "Governments are able to inject more money and increase expenditure. It also a... |
Industry to grow five per cent next year27 December 2004, Published under Cement NewsArgentine industry will grow by a minimum of five per cent next year, which makes it almost inevitable that the sector will surpass the record figures seen in 1998, according to a report drafted by the Production Studies Center at the Secretariat of Industry. Nevertheless, manufacturing activity will increase at a rate more in line with economic expansion, which would be lower than the growth of more than 10 per cent seen in the last two years. The document also stated that the automobile, h... |
Lhoist to invest in China plant27 December 2004, Published under Cement NewsWork has started in Chizhou of Anhui Province on a refractory material project financed and owned by the Lhoist Group, a multinational corporation of Belgium with subsidiaries in 15 countries. Estimated to cost US$58m, the project is designed to produce more than 100,000tpa of refractory bricks, valued at over 200 million yuan (US$24.2m) |
Banks to contribute to Infra fund27 December 2004, Published under Cement NewsIndonesia’s Chief Economics Minister Aburizal Bakrie said local banks are expected to contribute Rp40 trillion (US$4.44bn) to fund needed to finance the government infrastructure projects in the next five years. Bakrie said around Rp200 trillion are expected to come from domestic sources to carry out the program which is estimated to cost more than Rp1,000 trillion. |
Taiwanes public construction spending27 December 2004, Published under Cement NewsInvestment in public construction projects will hit NT$200bn (US$6.21bn) next year, Premier Yu Shyi-kun said. Speaking at the Fifth Public Construction Golden Awards ceremony, Yu said that the Legislative Yuan had approved a special budget of NT$93.1bn for the government’s 10 major construction projects for next year, while private participation in public construction projects is estimated to top NT$110 billion. |
India Cements Board OKs bond issue24 December 2004, Published under Cement NewsThe board of India Cements Ltd has approved a fund raising through various instruments including convertible debentures and equity warrants, the company said Friday. In a filing with the Bombay Stock Exchange, the company said it plans to raise up to $25 million through a convertible bond issue, with the bonds to be convertible at INR125 a share at the end of 18 months from the issue date. India Cements, which is one of the largest cement makers in south India, said it will also issue sec... |
Chilanga Cement Reports its Unaudited Results24 December 2004, Published under Cement NewsChilanga Cement announced its un-audited results for six months to 30 June, 2004. Net turnover was K102 billion (K80 billion in previous period). Profit after tax was K17.2 billion down 5.95% from previous period. EPS also dropped to K86.26 from K91.72 in previous period. The company’s Board of Directors declared an interim dividend of K20 per share. |
German Allianz Decreases Stake in HeidelbergCement24 December 2004, Published under Cement NewsGerman insurer Allianz AG has decreased its stake in building materials group HeidelbergCement AG stepwise to 4.6 per cent in a move to optimise its portfolio, Allianz said on December 23, 2004. The sale could result in a possible book profit for the insurer, an Allianz spokesperson said without elaborating. Based on its market price on December 22, 2004, the stake’s value has been estimated at almost Euro130m ($173.6m). In February 2004, the insurer held a 7.5 per cent stake in Heidelbe... |
Lafarge Arcom Gips To Absorb Lafarge Ipsos23 December 2004, Published under Cement NewsRomanian plasterboard producer Lafarge Arcom Gips shareholders approved the merger by absorption of Lafarge Ipsos on December 21, 2004. Company shareholders voted for a 59.1 bln Romanian lei (US$2.0m) capital increase through the issue of new shares at 1.0 mln lei (US$35) each. After the capital hike, cement maker Lafarge Romcim will control 94 per cent of company’s shares and Romanian construction company Arcom, 5.85 per cent. The shareholders of Lafarge Arcom Gips re-elected Giovanni ... |