Cement News tagged under: Corporate
FLS embraces Efficiency of 3D27 October 2004, Published under Cement NewsFL Smidth of Denmark, the world’s leading supplier of cement production technology, has selected SolidWorks(R) software as its 3D mechanical design standard because it will dramatically increase the company’s engineering efficiency and productivity in designing cement-making equipment and plants. FLS is implementing 200 licenses of SolidWorks software for full production use in early 2005. SolidWorks will let engineers more quickly design products like kilns, mills, coolers, burners, and re... |
Italy Antitrust approves Aalborg, Unicon Purchase by Cementir27 October 2004, Published under Cement NewsItaly’s Antitrust authority gave the green light to Italian cement company Cementir to buy cement company Aalborg Portland and ready-mixed concrete company Unicon, it was reported on October 26, 2004. Aalborg Portland and Unicon are units of Danish engineering group FLS Industries. Unicon has plants in Denmark, Sweden, Norway and Poland. Cementir is a subsidiary of Italian construction company Caltagirone. |
UAE Union Cement Jan-Sept 200426 October 2004, Published under Cement NewsThe net profit of UAE Ras al-Khaimah cement manufacturer Union Cement rose to 80.26 mln UAE dirhams ($21.8m) in the first nine months of 2004 from 22.61 mln dirhams ($6.2m) in the same period of 2003. The company’s sales climbed to 234.6 mln dirhams ($63.9m) from 135.5 mln dirhams ($36.9m), while the cost of sales increased to 133.3 mln dirhams ($36.3m) from 92.6 mln dirhams ($25.2m). Union Cement’s total assets grew to 592.04 mln dirhams ($161.2m) at end-September 2004 from 537.6 mln dirha... |
RMC Group Shareholders to vote26 October 2004, Published under Cement NewsMexican cement maker Cemex SA (CX) said Monday that RMC Group Ltd’s shareholders will vote on its $5.8 billion cash and debt offer on Nov. 17. Cemex said in a filing with the Mexican Stock Exchange that RMC has given shareholders the details of the acquisition, which the company supports. Monterrey-based Cemex, the world’s third-largest cement maker behind France’s Lafarge and Switzerland-based Holcim, said it expects the acquisition to close Jan. 12, subject to regulatory approvals. Cemex ... |
Energy costs too high, says Bamburi CEO26 October 2004, Published under Cement NewsBamburi Cement managing director, Didier Tresarrieu, said yesterday that for local industries to compete effectively with imports from the Comesa, energy costs need to come down. Mr Tresarrieu said exorbitant electricity costs had made it difficult for local manufacturers to cope with imports from the region a development he said did not augur well for the sector. "The Government should look into ways of reducing electricity costs in the country, not only to create a level playing field, b... |
Semen Gresik 9-Month figures26 October 2004, Published under Cement NewsPT Semen Gresik, Indonesia, said its cement sales in the first nine months of this year rose 12 per cent on year to 11.64Mt, due to gains in both domestic sales and exports. Indonesia’s largest cement maker said its domestic cement sales rose 13.3 per cent on year to 10.03Mt. Its exports gained 4 per cent on year to 1.61Mt. According to data from Indonesia’s cement producers association, national cement sales in the first nine months of this year rose 9 per cent to 22.28Mt from 20.44 million... |
Morgan Stanley to invest US$50m in china cement plant25 October 2004, Published under Cement NewsMorgan Stanley, one of the world’s leading investment banks, has reportedly signed an agreement to invest US$50m in a joint venture with local cement producer Jinan Shanshui Group Co Ltd in east China’s Shandong province, the Chinese company said. Morgan Stanley will take a 30 per cent stake in the joint venture into which Shanshui Group will inject its total cement assets, an official at Shanshui Group, who asked not to be named, told XFN-Asia. “We also plan to list the joint venture overse... |
Saudi Tabuk Cement Co25 October 2004, Published under Cement NewsSaudi cement producer Tabuk Cement Company (TCC) posted a net profit of 95.7 mln Saudi riyals ($25.5m) for the first nine months of 2004, up from 55.8 mln riyals ($14.9m) in the corresponding period of 2003. TCC’s sales stood at 218.5 mln riyals ($58.3m), up 38.6 per cent year-on-year, while the cost of sales rose 19.5 per cent to 109.6 mln riyals ($29.2m). As a result, gross profit increased 65.2 per cent to 108.9 mln riyals ($29m). |
Taiheiyo ups H1 net profit estimate to Y4.5bn, Japan22 October 2004, Published under Cement NewsTaiheiyo Cement Corp, said it now expects to post a first half to September parent net profit of 4. 5bn yen, higher than the 400m yen net profit seen earlier, citing the booking of a special dividend of 1.5bn yen from its affiliates. The company did not disclose details of the special dividend. Taiheiyo Cement now forecasts a first half to September parent current profit of 2.7bn yen on revenue of 140bn yen, compared to its earlier forecasts of 800m yen current profit on revenue of 141bn yen... |
Boral shares soften as construction activity slows, Australia22 October 2004, Published under Cement NewsShares in Boral Ltd softened today after it revealed its first quarter revenues hadn’t improved on last year, as the building products company suffers from a dip in Australian construction activity. However Boral still expects its full year net profit would lift five per cent on last year’s record $370m underlying profit. Executive director Rod Pearse told shareholders at Boral’s annual general meeting in Sydney today that sales for the three months to September 30 this year were weaker... |