Cement News tagged under: Corporate
UAE prices boost shares01 June 2004, Published under Cement NewsAbu Dhabi: A surge in cement prices in the UAE sharply boosted the shares of cement firms and allied companies with increases in other share prices to lift the market to a record level. Turnover in May slipped back from a record monthly average of more than $1billion in April but dealers expect the trading value to cross the Dh20billion mark this year for the first time in the share dealing history in the UAE. Union Cement’s share shot up by around 203 per cent while that of Gulf Cement jumpe... |
Chinese cement loans01 June 2004, Published under Cement NewsChina’s banking watchdog said it will review all loans offered or loan commitments to fixed asset projects either under construction or still on paper in an effort to curb blind investment and cool the overheating economy. A senior official with the China Banking Regulatory Commission said the review involves all banking institutions, including the state-owned banks, shareholding commercial and agricultural banks, and rural credit unions and trust and investment companies. The official... |
Green light for CRH cement deal01 June 2004, Published under Cement NewsCRH has received clearance from Brussels for its 372m euro tie up with the Portuguese cement maker Semapa. The deal will see the Irish firm operating three integrated cement units in a joint venture with the Portuguese firm. It involves CRH buying 49pc of Semapa’s cement arm Secil for 372m euro, including Euro140m in debt. The joint venture will run the three cement plants with a total capacity of 4.2Mt, plus 41 mixed concrete plants and six quarries |
Kan to succeed Chumpol?28 May 2004, Published under Cement NewsWith company president Chumpol Na Lamliang expected to step down next year, young bloods are taking the helm at Siam Cement Group, one of Thailand’s oldest and biggest industrial conglomerates, reports Pichaya Changsorn. In announcing the appointments of five top executives - all of them under 50 years old - the board of directors of Siam Cement made it clear who the successors are for key positions at Thailand’s largest industrial conglomerate. For the first time in its 91-year histor... |
Rinker’s Earnings Get a Lift From US27 May 2004, Published under Cement NewsAnnual earnings for the Rinker Group Ltd’s annual earnings rose 12%, underpinned by the Australian construction-materials company’s extensive operations in the US and a better-than-expected performance by its local cement division. Rinker, which was spun off from CSR Ltd in March 2003, had net profit of A$426.8m (US$297.7m) for the year ended March 31. Revenue edged up to A$5.4 billion from A$5.36 billion. Earnings were bolstered by U.S. subsidiary Rinker Materials, the Readymix cement... |
TPI Polene Creditors approve debt buyback25 May 2004, Published under Cement NewsCreditors of TPI Polene PCL have agreed in principle to let the Thai cement maker buy back as much as $110 million in debt, a TPI Polene executive and one of its creditors said. "Creditors have agreed with our debt-buyback plan," said TPI Polene Chief Executive Prachai Leophairatana. "However, they didn’t accept our request for a reduction of accrued interest." TPI Polene is undertaking to restructure $950m in principal debt and $150m in accrued interest, under the auspices of the count... |
Melón posts ripe Q1 profits25 May 2004, Published under Cement NewsChilean cement company Empresas Melón posted an 8.37bn-peso (US$13.4mn) consolidated net profit in the first quarter, up 17.6% from 1Q03, the company said in a statement to the country’s securities regulator (SVS). Last month, Melón finance director Joao Pereira said a decision whether to build a new cement plant in southern Region VIII or a limestone plant in Region III would be made in September. The cement plant would be built in the town of Coronel and the limestone plant would be built ... |
Heracles pretax profit up 137 per cent25 May 2004, Published under Cement NewsGreek cement producer Heracles said on Monday its first-quarter group pretax profit rose 137 percent to 14 million euros, thanks to better weather than last year and rising profit margins in Greece. Group sales increased 13.2 percent to 128.3 million euros compared to the previous year when domestic sales were affected by bad weather and logistics problems, the company said in a statement. Group operating income more than doubled to 14 million euros from six million euros. Heracles i... |
Colombian group Argos leads profit ranking24 May 2004, Published under Cement NewsIn the first quarter this year, Colombian cement group Argos consolidated its position as one of the most solid organizations in the country and with the highest profit volume. Three companies of the group stood among the five highest profits in the period. One of them is Compañía Colombiana de Clinker (Colclinker), whose net profit amounted to Ps. 46.03 bn (pesos). The second one is Compañía de Cementos Argos, which profited Ps. 43.14 bn in the first quarter; and the third one is Cementos de... |
PPC result comment24 May 2004, Published under Cement NewsPretoria Portland Cement has set the tone for the upcoming reporting season with strong interim and full year results. PPC was largely driven by improved infrastructural development as well as an increase in housing construction on the back of a lower interest rate environment which saw a notable growth of 13 percent in industry cement for the period under review. The group recorded over 20 per cent growth in cement volumes in February and March 2004 over the same period last year. Des... |