Cement News tagged under: Corporate
Lafarge 9-month sales up 5.7 per cent, keeps outlook21 October 2004, Published under Cement NewsLafarge reported a 5.7 per cent rise in 9-month sales on Thursday, thanks to higher cement prices in the United States and Europe, and reiterated its guidance for the full year. The company said it was confident full-year operating income would grow by more than 10 percent, excluding currency fluctuations and barring unusually adverse weather conditions. The building materials company said in a statement it generated sales of EUR10.87bn (US$13.69bn) from January to September, compared wi... |
Italy’s Buzzi launches US bonds worth $172m21 October 2004, Published under Cement NewsItaly’s Buzzi Unicem has issued a total of $172m in senior unsecured notes via private placements in North America to fund a stake purchase in cement maker Dyckerhoff, the company said. Investment bank Merril Lynch advised the company on the deal, which comprises three tranches with maturities in 2007, 2009 and 2011. The first tranche of US$25m has a fixed annual rate of 4.41 percent. The second of EUR15m ($18.89m), callable from 2006, is priced at a floating rate at 70 basis points ... |
Gujarat Ambuja July-Sept quarter net leaps, India20 October 2004, Published under Cement NewsGujarat Ambuja Cements LtdIndia’s third-biggest cement maker by capacity, said quarterly profit surged as it benefitted from a boom in export prices. Gujarat Ambuja, also the nation’s top cement exporter, said standalone net profit in the first fiscal quarter ended September rose more than six-fold to INR904.6m (US$19.8m). Net sales climbed 58 per cent to INR5.99bn. A Reuters poll had forecast a 427 per cent jump in the past quarter’s net profit to a median INR955m. Gujarat A... |
SG wraps up Semen Padang audit with negative adjustment, Indonesia20 October 2004, Published under Cement NewsState-owned PT Semen Gresik (SG), the country’s largest cement producer, has completed a forensic audit on its subsidiary PT Semen Padang, with possible losses resulting from irregularities committed by the previous management. SG corporate secretary Soebagyo told local press that the company’s auditor PricewaterhouseCoopers (PwC) had just concluded the forensic audit for Semen Padang’s 2002 financial account, and would later consolidate it with the SG account. "The audit (result) wa... |
Texas Industries Names Rogers Chairman, USA20 October 2004, Published under Cement NewsTexas Industries Inc., a supplier of cement, concrete and steel products, said Robert D. Rogers was named chairman Tuesday at the company’s annual shareholder meeting. Rogers retired earlier this year after serving as the company’s president and chief executive for 34 years. |
UltraTech begins debt revamp19 October 2004, Published under Cement NewsUltratech Cement, a subsidiary of Grasim Industries, has begun its much-touted debt restructuring programme and has already reduced its debt burden to Rs 1,550 crore, from Rs 1,800 crore when it acquired the cement unit from L&T. A Birla group top executive said the company is also planning a private-placed debenture issue aimed at institutional investors to reduce the liabilities. He stated that the proposal is in the initial stages and will be placed before the board of directors. ... |
Anhui Conch 3Q net profit narrows, China18 October 2004, Published under Cement NewsAnhui Conch Cement Co, China’s largest cement producer, said it earned a smaller net profit in the third quarter than in the same period last year, as government measures to slow the economy began to affect its business. While revenue for the September quarter rose to CNY2.06bn from CNY1.43bn in the year-earlier period, net profit fell to CNY131.63m from CNY192.17m. Operating costs rose sharply to CNY1.58bn from CNY883.57m a year earlier. "Due to the austerity measures, the market de... |
Lafarge sales growth set to slow in Q318 October 2004, Published under Cement NewsLafarge SA is expected to report Thursday a slowdown in sales growth for the third quarter after weather-related strength in the first half, but will likely reiterate its full-year outlook for operating profit growth, analysts said. Forecasts for nine months sales range between EUR10.82-10.880bn, implying third quarter sales just above EUR4bn. Growth for the whole period would therefore be above 5 pct, whereas the rise for the latest three months would be below 4 per cent, analysts said.... |
Profit boom for RAK Cement, UAE18 October 2004, Published under Cement NewsThe ongoing construction boom in the UAE sent profits spiralling 205 per cent upwards at Ras Al Khaimah Cement to USD18.9m in the first nine months of the year. Cement companies in the UAE have benefited from higher prices as well as high output in the period. The Ras Al Khaima Cement Company has earned a net profit of Dh69.333m during the July-September quarter of the year against earnings of Dh22.670m during the previous comparable period. Total sales reached Dh183.759m during the... |
Saudi producer results18 October 2004, Published under Cement NewsAccording to local news reports, Saudi Southern Province Cement Company recorded SR 220.3m ($58.7m) net income in the first nine months of the current year compared with SR 203.3m ($54.2m) in the corresponding period of last year, an 8.4% growth. The Southern Province Cement Company was established in 1978 to serve the far southwestern region of the kingdom. The company is based in Abha. Government agencies own 40 per cent of the company’s equity. Southern Province Cement has raised its ... |