Cement News tagged under: Corporate
JK brings together all cement units11 November 2004, Published under Cement NewsIn what is seen as the culmination of a successful attempt to rescue the JK North group (led by Gaur Hari Singhania), its flagship, JK Synthetics, has been demerged. All the cement units have now come under JK Cement Ltd. In a communication to the UP Stock Exchange, on which it is listed, the company has said as per the one-time-settlement scheme as approved by the Appellate Authority of Industrial and Financial Reconstruction (AAIFR) order of January 23, 2003, the dues of all the secured len... |
Lafarge appoints Razak Ramli10 November 2004, Published under Cement NewsFormer Ministry of International Trade and Industry (MITI) secretary-general, Tan Sri Abdul Razak Ramli has been appointed as an independent non-executive director of Lafarge Malayan Cement Bhd. The appointment takes effect from today, the company said in a statement here today. Abdul Razak had served various ministries and government agencies including the Public Services Department and Economic Planning Unit (EPU) in the Prime Minister’s Department, ASEAN Economic Cooperation Unit o... |
HeidelbergCement Q3 profit jumps on price rises09 November 2004, Published under Cement NewsGerman building-materials group HeidelbergCement reported a 53 percent rise in third-quarter operating profit on Tuesday, following a pick-up in business in eastern Europe and higher cement prices. Operating profit rose to Euro 344m from Euro 225m a year earlier on a sales increase of 9.7 percent to Euro1.97bn. The results beat the average forecast of Euro 310m of 4 analysts polled by Reuters. HeidelbergCement is reaping the benefits of cost cuts and restructuring as the German cement... |
Thai court approves TPI Polene debt revamp plan09 November 2004, Published under Cement NewsA Thai court gave final approval to a revised plan to restructure $600 million debt of TPI Polene PCL (TPIP.BK), allowing the country’s number three cement maker more time. "As nobody opposes the revised plan, the court decides to approve it," a Central Bankruptcy Court judge said. The news helped push TPIP shares up almost 1 per cent to 26 baht at 0345 GMT, bucking a 0.23 per cent drop in the overall Thai stock market. The court ruling will also enable the firm to revise the terms of ... |
Cimpor 9-month figures09 November 2004, Published under Cement NewsCimpor said Monday flat sales and higher costs led to a 6.6 per cent decline in nine-month consolidated net profit. Profits fell to Euro 139.2m compared with EUR149.0 million for the first nine months of the previous year, on sales basically unchanged at Euro 1.04bn from Euro 1.03bn. Costs rose 8 per cent to Euro 682.9m. The Portuguese cement maker said sales were particularly strong at its Spanish and South African operations, as well as its units in Egypt and Mozambique. In Portugal... |
Cementir pre-tax profits rise09 November 2004, Published under Cement NewsItalian cement company Cementir, a unit of the local construction company Caltagirone, posted a pre-tax profit of Euro 49.7m for the first nine months of 2004, compared to Euro 31.1m for the same period in 2003. Cementir’s operating profit rose to 44 mln euro from 37.1 mln euro and earnings before interest, tax, depreciation and amortisation (EBITDA) stood at 67.1 mln euro against 63 mln euro. The company EBITDA generated in Italy stood at 49.3 mln euro, down by 4.2 mln euro, while EBITDA... |
National Bank eyes Heracles sale09 November 2004, Published under Cement NewsThe National Bank, Greece’s largest bank, plans to offload its minority stake in cement maker Heracles by the year end in a bid to cut non-core activities, a senior bank official said on Tuesday. "From a business point of view there is no sense for the bank to maintain such holdings," Yiannis Pechlivanidis, National Bank deputy governor, told financial daily To Kerdos in an interview. National Bank owns around 26.4 per cent of Heracles, with the stake valued at about Euro160m at current prices. |
Egyptian Misr Cement Qena posts profits08 November 2004, Published under Cement NewsThe net profit of Egyptian cement producer Misr Cement Qena soared 150 per cent year-on-year in the first nine months of 2004 to Egyptian Pounds 53.48m (US$8.6m). The jump in bottom-line profit followed a 35.4 per cent increase in operating revenue to 232.68m pounds (US$37.5m). The cost of goods sold rose 21.6 per cent to 140.59m pounds (US$22.7m), and gross profit surged to 92.08m pounds (US$14.9m) from 56.32m pounds (US$9.1m). |
Kuwait Portland Cement Jan-Sept 200408 November 2004, Published under Cement NewsKuwaiti cement trader Kuwait Portland Cement posted a net profit of 5.85m Kuwaiti dinars (US$19.9m) for the first nine months of 2004, a decrease from 10.64m dinars (US$36.1m) in the same period of 2003. Earnings per share (EPS) totalled 82 fils (US$0.27) in the first nine months of 2004, against 150 fils (US$0.5) in the year-earlier period. The net profit for the period January to September 2004 included 882,344 dinars (US$3m/2.3m euro), resulting from the application of the International ... |
Ciment Francais lifts 9m net profit08 November 2004, Published under Cement NewsFrench cement maker Ciments Francais posted an 8.7 per cent rise in nine-month net profit on Friday partly due to a reduction in financial costs and an increase in the contribution from equity-accounted companies. Ciments Francais, controlled by Italy’s Italcementi, said January-September net profit totalled Euro 210.7m compared with Euro193.9m a year ago. It said that given the good performance of the first nine months of the year, profits for the full year should improve, excluding ex... |