Cement News tagged under: Corporate
TXI Announces Decision To Spin-Off Steel Business16 December 2004, Published under Cement NewsTexas Industries Inc (TXI) will spin off its steel business from the cement, aggregate and concrete segment to allow the two units to pursue separate growth strategies. The spinoff is expected to be in the form of a stock dividend with a target completion date sometime in the summer of 2005. Tommy Valenta, executive vice president in charge of Texas Industries’ steel operations, will become the chief executive of the new steel company. In the latest fiscal first quarter, Texas Industries po... |
Cement Akmene sales investments16 December 2004, Published under Cement NewsAkmenes Cementas, the only producer of cement in Lithuania, plans to invest 14.3 million litas (4.1 million euros) in 2005, twice the amount it invested this year. Arturas Zaremba, the CEO of the manufacturer, told ELTA that the company plans to invest into a new packing unit and one more coal mill. Akmenes Cementas also plans to invest into the recycling of used tyres. It is expected to utilise about 4,000 tonnes of tires in 2005. In 2004, the company’s sales should reach 100 million l... |
Qatar National Cement Co To Sign $120m loan16 December 2004, Published under Cement NewsThe Qatar National Cement Company (QNCC) will sign on December 19, 2004 a $120m syndicated loan agreement, it was reported on December 15, 2004. QNCC mandated a number of banks to arrange the loan in July 2004. The banks are the Qatar National Bank (QNB), the Commercialbank, the UK Standard Chartered Bank and Bahrain-based Gulf International Bank (GIB). QNCC will use the funds to finance the construction of its third cement plant. The company awarded in early June 2004 a $160m contract to Fr... |
Siam Cement units receive Deming awards15 December 2004, Published under Cement NewsThree Siam Cement Group subsidiaries have won Deming awards from the Japanese Union of Scientists and Engineers for excellence in Total Quality Management (TQM), according to Kan Trakulhoon, an SCC vice-president, according to the Bangkok Post. The 2004 Deming Application Prizes were awarded to CCC Polyolefins Co and Siam Mitsui PTA Co in petrochemicals and Ceramic Thai Industry Co for building products. The awards recognise distinguished performance improvement through the application of TQ... |
Cemex aims for 4Q04 Ebitda of US$560m14 December 2004, Published under Cement NewsCemex plans to report more than US$560m in Ebitda fourth quarter this year, which would represent a 10% jump over the same quarter last year, Cemex said in a statement. Cemex expects operating income to reach US$390m and revenue to total more than US$1.9bn during the same 2004 period, while 4Q03 results came in at US$342mn for operating income and US$1.8bn for consolidated net sales. For the full year, the company aims for Ebitda of US$2.5bn and revenue of US$8bn, while 2003 figure... |
Shree Cement expects good run in North India14 December 2004, Published under Cement NewsCement prices are expected to firm up in the coming months, on the back of nearly 8%-9% growth in demand. Rajasthan-based Shree Cement is confident of achieving a good growth in both its top and bottom line. MK Singhi, ED, Shree Cement, told CNBC-TV18, "Supply is now almost matching demand, and it looks like in the next three months, till March, demand will definitely be more than supply, and that will mean the market will be ready to give a better price. The present price is still less t... |
Cemex: Latin Equity Preview13 December 2004, Published under Cement NewsCemex SA the world’s third-largest cement maker is scheduled to release its fourth-quarter earnings forecast before the market opens today. Cemex’s fourth-quarter earnings before interest, taxes, depreciation and amortization probably will rise 17 percent to US$594m as sales advance 3.5 percent to US$1.85bn, according to Daniel McGoey, an analyst with Deutsche Bank AG in New York. |
Helwan Cement Announces 9M FY04 Results13 December 2004, Published under Cement NewsHelwan Cement announced 9M FY04 results ending September, wherein the company posted a LE1.8 million net profit balance compared to a LE44.8 million net loss incurred in 9M FY03. Sales revenues advanced a relatively subdued 6.5% y-o-y to reach LE631.1 million versus a comparable LE592.4 million, while the COGS/Revenues ratio improved a considerable 740 bps to 67.1 per cent versus a previous 74.5 per cent. Moreover, the company witnessed a 25.7 per cent annual decline in interest expense, culm... |
Somani to set up cement plant in Bhavnagar13 December 2004, Published under Cement NewsSomani Cement Company Ltd of Vadodara is setting up a 1000tpd cement plant at Bhavnagar with an investment of Rs150 crore. Financial institutions, foreign institutional investors and insurance companies are to hold 5 per cent stake in the project. Also, Punjab National Bank has 4.35 percent stake and Morgan Stanley 0.5 percent stake in the project. |
Italcementi’s Ciments Francais sees post-bid investments in Egypt13 December 2004, Published under Cement NewsItalcementi SpA’s quoted unit Ciments Francais SA plans to invest to improve efficiency and logistics at its Egyptian affiliate Suez Cement after the planned takeover, according to Ciments Francais chairman Yves-Rene Nanot. Nanot was commenting in an interview in Milano Finanza Saturday, giving more detail on Ciments Francais’s recent bid of up to US$540m to acquire the 65.9 per cent shareholding it does not already own in Suez Cement from the Egyptian government. Nanot said investments ... |