Cement News tagged under: Corporate
Buzzi Unicem increases cement sales11 February 2004, Published under Cement NewsBuzzi Unicem generated at turnover of €1461m in the year to the end of December 2003. This is 1.2 per cent lower that in 2002, but adjusting for the considerable weakness in the US and Mexican currencies gives an underlying increase of 7.0 per cent. Turnover in Italy advanced by 7.2 per cent to some €936m. In the United States, turnover increased by 4.3 per cent in local currency terms, but this produced a 12.8 per cent fall once converted into euros. Mexico saw turnover move ahead by 13.... |
Lafarge Beton to announce a bid for PCLA shares10 February 2004, Published under Cement NewsLafarge Beton Bratislava, a minority shareholder in cement producer Povazske Cementarne Ladce (PCLA) has decided to announce a competing takeover bid for PCLA shares. This bid should be in response to an already announced takeover bid of a PCLA majority shareholder, Berger Slovakia, a.s. "The whole process is still subject to Financial Market Office (UFT) approval," said authorized representative of Lafarge Beton, Marian Kolnik. He added that the price offered for the PCLA shares is also subj... |
Mangalam cement sale close10 February 2004, Published under Cement NewsThe B K Birla group is close to finalising the deal to sell its 1.5Mta cement company, Mangalam Cement Ltd. The group is apparently at an advanced stage of negotiations with two buyers- the French construction giant Lafarge and a leading cement company from Thailand, rumoured to be Holcim’s Siam City Cement. Representatives of Lafarge recently inspected the company¹s twin plants at Kota in Rajasthan. A top source in Birla Buildings, headquarters confirmed the interest. He, however, decli... |
Gulf Cement revenues jump 31 per cent09 February 2004, Published under Cement NewsThe Ras Al Khaimah-based Gulf Cement Company earned revenues of U$67.4m last year, a 31 per cent increase over the previous year, according to its preliminary results. Higher sales contributed to its all-round growth. The return on average shareholders’ equity recorded 17 per cent ending 2003, compared to three per cent in 2002, said a Gulf News report. The improvement in results is due mainly to increase in sales (11 per cent) and average selling price (18 per cent) which significantly... |
Grasim May Have To Raise Offer For CemCo06 February 2004, Published under Cement NewsIndia’s Grasim Industries may have to raise its offer price to acquire a stake of more than 51% in Larsen & Toubro’s demerged cement business, the Economic Times reports. The newspaper quotes Larsen’s chairman A.M. Naik as saying it is up to financial institutions, which hold 29 per cent in the company, to decide if they want to participate in Grasim’s open offer for the cement business. Grasim currently holds 12.6 per cent in the demerged cement business called CemCo and has made an open... |
Ssangyong Cement sees record-high profitability06 February 2004, Published under Cement NewsSsangyong Cement Industrial Co. has hit a record high in corporate earnings. The company reported yesterday that it posted 1.29 trillion won (US$1.1 billion) in sales and 233.8 billion won in operating profits last year. Sales increased by 10.4 per cent compared to those of the previous year, and operating profits soared 36.1 per cent. Its net profit tripled earnings in 2002, at 190.6 billion won last year. The company said that the cost reductions and a decrease of debt had led to the impro... |
Cementos Caribe reduces its profits by 3.4 per cent06 February 2004, Published under Cement NewsThe Colombian company Cementos Caribe has reported net profits of 104,074 pesos (US$37.9m) in 2003, which is a fall of 3.4 per cent when compared with the 107,760 pesos (US$39.2m) of the previous year. The company¹s board will meet on 5 March to propose to its shareholders an annual dividend of 450 pesos (US$0.16) per share, payable in four instalments. Last year, the company paid a dividend of 420 pesos (US$0.15). Cementos Caribe operates the bulk of the Grupo Argos capacity (10 plants, 8.8... |
Buzzi Unicem raises stake in Dyckerhoff05 February 2004, Published under Cement NewsItalian cement and concrete company Buzzi Unicem has raised its stake in German counterpart Dyckerhoff to 67.01 per cent, buying a 5.32-per-cent stake from Dutch counterpart Holderfin and an 11.62-per-cent stake from German building company Schwenk, following the exercise of a put option. The total cost of the transaction was Euro108.6m. |
Profits drop at St Lawrence Cement05 February 2004, Published under Cement NewsSt Lawrence Cement Group, Canada, reported lower fourth-quarter profits and sales Wednesday. The Montreal-based cement and construction products producer said it earned $21.8m or 53 cents a share for the the three months ended Dec. 31. That compared with profits of $24.9 million or 61 cents a share for the same 2002 quarter. Sales fell to $321.1 million from $327.2 million. Sales volumes improved for cement, aggregates and concrete, reflecting good demand in all markets. However, that was... |