Cement News tagged under: Corporate
Eagle Materials to buy remaining share of Illinois Cement01 December 2004, Published under Cement NewsEagle Materials Inc. announced today that it has entered into an agreement to purchase the remaining 50% interest in Illinois Cement Company joint venture for a purchase price of $72m in cash. The Illinois Cement Company joint venture is owned 50 per cent by Eagle Materials and 50 per cent by RAAM Limited Partnership. The joint venture, which was originally formed in 1972, operates a cement plant in LaSalle, Illinois. The transaction is expected to close early next year subject to customary... |
Indian promoters of Prism cements buy out foreign stakes30 November 2004, Published under Cement NewsIndian promoters of Prism Cements have bought out the entire 8.38 per cent holding of foreign promoters F L Smidth & Co and IFU of Denmark in the company, taking their stake to over 61.7 per cent. Manali Investments and Finance Pvt Ltd, part of the Indian promoter group, has acquired 12,500,000 shares or a 4.19 per cent stake from F L Smidth and 9,500,000 shares or 3.19 per cent stake from Industrialisation Fund for Developing Countries (IFU) through an inter-se transfer between promoters on... |
Candidates Apply for Saudi Tabuk Cement Co Board Members30 November 2004, Published under Cement NewsA total of 22 candidates have applied for board members of Saudi cement producer Tabuk Cement Company (TCC), it was reported on November 28, 2004. The company has called a general shareholders’ meeting on December 1, 2004 to elect a new board with a three-year term starting from January 1, 2005. The meeting was initially scheduled for November 21, 2004 but was postponed due to lack of quorum TCC, one of the eight cement companies operating in Saudi Arabia, was established in 1994 as a joint ... |
YTL improves in its first quarter results, Malaysia29 November 2004, Published under Cement NewsMalaysia’s YTL Corp Bhd made a net profit of RM161.3m (US$42.5m) on turnover of RM1.178bn (US$310m) in the first quarter ended Sept 30, on strong contribution from utilities and cement manufacturing. “Excluding an exceptional gain of RM112m in the corresponding period last year, net profit grew 29.7 per cent in the first quarter,’’ the group said in a statement. YTL registered a net profit of RM236m during the corresponding quarter a year earlier on one-off gains from the disposal of quo... |
Semapa Q3 net rises, Portugal29 November 2004, Published under Cement NewsIndustrial holding company Semapa said net profit surged five-fold to Euro 162.317m in the third quarter from Euro29.176m a year earlier, boosted by cash flow from the sales of stakes in cement makers Secil and Cimpor. Semapa group sales rose 2.93 per cent to Euro329.316m from Euro319.942m, with EBITDA dropping 0.60 per cent to Euro91.722m from Euro92.280m. Cash flow more than doubled to Euro219.927m from Euro83.432m, thanks to the sale of 45.1 per cent in Secil to Ireland’s CRH PLC for E... |
Turkish Akcansa Jan-Sept 2004 net profits29 November 2004, Published under Cement NewsTurkish cement producer Akcansa Cimento reported a net profit of 54.3 trln lira (US$38.2m) for the first nine months of 2004, compared to 14.1 trn lira (US$9.9m) for the same period of 2003. The company’s gross profit stood at TRL70.8 trln (US$49.7m), up from 18.2 trln lira (US$12.7m), and operating profit was 53.4 trln lira (US$37.5m), up from 16.8 trln lira (US$11.8m). Net sales grew to 270.6 trln lira (US$190m) from 206.4 trln lira (US$144.9m). Akcansa is part of the cement divisi... |
Holcim issues 10-year bond25 November 2004, Published under Cement NewsHolcim Holding Ltd have issued a 10-year Euro 600m bond, instead of Euro 500m as previously announced, a spokesman for lead manager Credit Suisse First Boston said The bond has been priced at 99.777 per cent and carries an annual coupon of 4.375 per cent, CSFB said |
Cement firms making firm gains25 November 2004, Published under Cement NewsThe average per-bag price realisation of Indian cement makers increased from a modest four per cent in the financial year 2003-04 to 13.26 per cent in first quarter ended in June 2004 and further to 15.62 per cent in the second quarter to September 2004. As a result, PBIT margin, or operating profit margin, of the 14 main cement companies zoomed to 16.23 per cent in the first half of this financial year from 9.52 per cent in the year-ago period. |
SCC eyes debenture issue25 November 2004, Published under Cement NewsSiam Cement (SCC), one of Thailand’s leading industrial conglomerates, said it will issue 20 billion baht worth of debentures next year for debt refinancing to enable it to bring down its annual interest debt burden. SCC’s vice-president Karn Trakulhun said the combined interest debt for SCC next year is expected to fall to one billion baht against a combined interest debt of six billion baht this year. SCC had a combined interest debt of 10 billion baht in 2001 and a total interest debt of ... |
Alexandria Cement posts profits25 November 2004, Published under Cement NewsEgyptian cement producer Alexandria Cement reported a consolidated net profit of 37.39m Egyptian pounds (US$6.0m) for the first nine months of 2004, compared to a net loss of 33.81m pounds (US$5.4m) in the same period of 2003. The company’s net sales rose 45.95 per cent year-on-year to 256.38m pounds ($41.2m), while the cost of sales grew 10.3 per cent to 154.28m pounds (US$24.8). |