Cement News tagged under: Corporate
Turkish Sabanci turnover up04 June 2004, Published under Cement NewsSabanci Holding registered a 46 per cent year-on-year rise in its consolidated turnover to US$1.934bn (1.583bn euro) for the first three months of 2004, according to Sabanci Holding CEO, Celal Metin. The company’s combined exports (all divisions) climbed by 11 per cent YoY to US$228.7m (187.2m euro) for the first quarter of 2004. Sabanci Holding posted a consolidated net profit of US$111.8m (91.5m euro) while its pre-tax profit grew 211 per cent YoY. Sabanci Group is one of Turkey’s two ... |
Cemex shareholders opt to capitalise04 June 2004, Published under Cement NewsCemex said on Thursday more than 96 per cent of shareholders opted to take dividend payments in new shares in a capitalization of the world’s No 3 cement maker. Cemex often gives shareholders the option of receiving dividend payments in shares - traditionally at a discount to the share price - or in cash. "Approximately 96.14 percent of shareholders opted for the handover of CPO shares, representing the issuance of a total of 75.4 million CPOs," Cemex said in a statement. |
Guj Ambuja gets nod for ACRL merger04 June 2004, Published under Cement NewsGujarat Ambuja Cements announced that it has received the approval from the Board for Industrial and Financial Reconstruction (BIFR) for merging Ambuja Cement Rajasthan Ltd (ACRL) with itself. Gujarat Ambuja has successfully managed to negotiate its terms with BIFR, as a pre-condition to the merger of the ailing unit with itself. |
Egyptian Misr Cement Qena Reports US$2.6 M net profit Q1 200403 June 2004, Published under Cement NewsEgyptian cement producer Misr Cement Qena posted a net profit of 15.92m Egyptian pounds (US$2.6m/2.1m euro) for the first quarter of 2004, against a net loss of 5.79m pounds (US$937,000/769,000 euro) in the same period of 2003. The company’s improved performance was attributed to the 114.65 per cent YoY rise in net sales to 66.48m pounds (US$10.8m/8.8m euro), which was accompanied by a 53.2 per cent increase in the cost of sales to 39.45m pounds (US$6.4m/5.2m euro). As a result, gross pr... |
Jurong Cement share premium overstated02 June 2004, Published under Cement NewsAn incorrect accounting treatment made in the 1997/1998 accounts has resulted in an overstatement of Sin$13.35 million in Jurong Cement’s share premium in associated companies. Calling it ’an innocent and isolated oversight’, a company spokesman told local reporters. In a statement dated May 31 and posted on Masnet yesterday, Jurong Cement said: ’During the current year’s audit, the auditor informed the company that a consolidation adjustment passed through in the 1997 and 1998 accounts res... |
Arabian Cement Co sells shares02 June 2004, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) has sold parts of its stakes in several local joint-stock companies, which has resulted in a profit of 72,149,160 Saudi riyals ($19.2m), it was reported on June 1, 2004. The proceeds from the sale of investments will be included in the company’s financial statements for the second quarter of 2004, the company said. |
Lafarge expects annual turnover increase02 June 2004, Published under Cement NewsLafarge expects to generate an annual turnover increase between 8.0 pct and 10 pct in middle term, the company’s managing director Bernard Kasriel said at the general shareholders’ meeting on May 25, 2004. After a difficult 2003 for the company, marked by the Iraq crisis, the challenging conditions, and two price wars for some of its products in the USA, the company should gather the fruits of the economic revival and generate a sustained operating profit increase, Kasriel added. |
BHA bought by GE02 June 2004, Published under Cement NewsGeneral Electric Co’s GE Energy division agreed to acquire BHA Group Holdings Inc., a provider of air-quality control products, for about $260 million. The $38-a-share acquisition is designed to broaden GE Energy’s offerings in renewable and clean energy production, the companies said. BHA, of Kansas City, Mo., has operations in 11 countries and makes filters, emission-control devices and other industrial air-pollution control equipment used at asphalt plants, hazardous-waste incinerators and... |
RMC share disposal01 June 2004, Published under Cement NewsRMC has announced that on 31 May 2004 it completed the sale of 28.9m shares in Adelaide Brighton Limited ("ABL"), representing 5.3% of the issued share capital of ABL, for which it will receive a cash consideration of A$1.30per share. The cash proceeds of A$37.6m (£14.8m) will be used to pay down debt. Together with the proceeds from the sale of 52m shares announced on 27 May 2004, RMC will receive cash proceeds during the current financial year of A$105.2m (£41.2m) from the disposal of ABL s... |
Alfa Cement to pay no dividend01 June 2004, Published under Cement NewsMoscow: Alfa Cement AGM decided May 27 not to pay 2003 dividend, allocating 29.961 mln rbl as the previous years profit to cover 89.8% of 2003 loss, the company said. KPMG was approved as an auditor. The holders also elected Holcim and Alfa Cement’s reps to the 5-seat Board of Directors. Holcim Ltd. announced in Jan. it held 68.8% stake in Alfa Cement. |