Cement News tagged under: Corporate
Kuwait Cement Co profit falls17 November 2004, Published under Cement NewsThe net profit of Kuwaiti cement manufacturer Kuwait Cement Company fell to 14.65 mln Kuwaiti dinars ($49.7m) in the first nine months of 2004 from 24.45 mln dinars ($82.9m) in the same period of 2003. Kuwait Cement reported a net profit of 7.52 mln dinars ($25.5m) for the third quarter of 2004, down from a net profit of 9.37 mln dinars ($31.8m) and EPS of in the same period of 2003. Kuwait Cement was established in 1968 and was listed on the Kuwait Stock Exchange (KSE) in 1984. |
Spain Cementos Alfa To delist17 November 2004, Published under Cement NewsSpanish cement company Cementos Alfa will delist from the Madrid stock exchange on November 25, 2004, the company said on November 15, 2004. The company will buy back the 16,793 shares, equal to 0.746 per cent of its capital, currently sold on the stock exchange at a price of Euro 60 ($77.6) per share. Cementos Alfa is listed only on the Madrid stock exchange. The company’s majority shareholder is Cementos Portland Valderrivas, a subsidiary of Spanish construction and services group Fomento... |
Taiheiyo Cement H1 net profit17 November 2004, Published under Cement NewsTaiheiyo Cement Corp’s first half to September results: Revenue - 413.1 bln yen vs 429.9 bln Operating profit - 16.7 bln yen vs 16.7 bln Current profit - 11.2 bln yen vs 10.1 bln Net profit - 6.2 bln yen vs 6.4 bln EPS - 6.72 yen vs 6.92 yen For the year to March 2005, Japan’s largest cement producer raised its current profit forecast to 36 bln yen from 31 bln but maintained its estimates for net profit and revenue at 16 bln and 865 bln, respectively. (AFX News). |
Chairman of Ssangyong Cement Industrial Corp arrested16 November 2004, Published under Cement NewsThe Supreme Public Prosecutors’ Office on Monday arrested Kim Suk-won, honorary chairman of Ssangyong Cement Industrial Corp. on charges of embezzlement. Kim allegedly embezzled 30 billion won of company funds from Ssangyong Group’s subsidiaries during the firms’ restructuring in 1998-2000 when he was the chairman of the group. He is also suspected of hiding the company’s real estate worth 5 billion won by using another person’s name to avoid creditors’ demands for his debt guarantees for t... |
Cemex to sell cement plants to Votorantim16 November 2004, Published under Cement NewsMexican cement maker Cementos Mexicanos (Cemex) said on November 15, 2004 it had signed a letter of intent with Brazilian cement maker Votorantim Cimentos for the sale of two cement plants in the USA for US$400m. Cemex expects that the acquisition of its two plants by Votorantim Cimentos will take place in the first quarter of 2005. The combined output of the two plants rounds some 2Mt. The plants are located in the region of Great Lakes in the USA. The operation is the first disinvest... |
US Hurricanes Fail To Flatten Australia’s Rinker16 November 2004, Published under Cement NewsHigher product prices and strong US building activity helped Australia’s Rinker Group Ltd offset rising costs and Florida hurricanes to beat market earnings forecasts in its fiscal first half. The construction materials company, which makes 80 per cent of its earnings in the U.S., on Tuesday also upgraded its profit guidance for the full year, a move welcomed by investors who pushed its shares to a record high. The Sydney-based maker of cement, asphalt and concrete blocks posted a 26 per ... |
Taiheiyo Cement Expects FY Group Net Profit Y16B16 November 2004, Published under Cement NewsTaiheiyo Cement Corp, half-year ended September 30, 2004: Group sales were Y413.09 bln, down from Y429.92bn a year earlier. Operating profit remained unchanged at Y16.71 bln, while pretax profit was up from Y10.10 bn to Y11.24 bln and Net Profit was down to Y6.26bn from Y6.41bn a year ago. |
China’s Huaxin Cement plans JV with Huangshi15 November 2004, Published under Cement NewsHuaxin Cement Co Ltd plans to cooperate with Huangshi Yiruida Investment Co Ltd in a cement joint venture with total capital of 500 mln yuan, the listed company said in a statement. Huaxin Cement (which has Holcim involvement) will take an 80 per cent stake in the venture by contributing a cement production line worth 400m yuan, while the remainder will be held by Huangshi Yiruida Investment Co Ltd, which will inject land-use rights worth 177.97 mln yuan, according to the statement. The joint... |
CCC puts US$100m expansion on hold15 November 2004, Published under Cement NewsJamaica’s Caribbean Cement (CCC) has reportedly postponed the US$100m capital investment in its Kingston plant because the government has not yet put into law a 40.8 per cent duty on imported cement, the Jamaica Observer reported. In September 2003, CCC filed for protection with Jamaica’s antidumping and subsidies commission, saying it was being hurt by imports and needed to be protected while it upgraded its plant. The plant upgrade plan came in anticipation of the lowering of tariffs th... |
Semen Gresik sees 2004 net profit rising15 November 2004, Published under Cement NewsIndonesia’s Semen Gresik sees 2004 net profit rising to 400 bln rupiah for 2004 against a restated 378bn in 2003, said the company’s Finance Director Cholil Hasan. He also said the company has just completed a special audit on the 2002 and 2003 financial reports of unit PT Semen Padang, resulting in a downward revision of its consolidated net profit for both years. Following the special audit, Semen Gresik’s 2002 net profit has been restated at 151bn rupiah from 196bn, and its 2003 net profi... |