Cement News tagged under: corporate
Adelaide Brighton cements boardroom changes19 August 2008, Published under Cement NewsAdelaide Brighton Ltd has announced the retirement of director David Barro from its board, effective today. Mr Barro joined the board as a non-executive director in November 1999 and has extensive experience in the Australian construction materials industry. The company also said that Raymond Barro will join the board today as a non-executive director. Mr Raymond Barro is the managing director of the Barro Group Pty Ltd and a shareholder of Barro Properties Pty Ltd, Adelaide Brighton’s... |
Boral full-year profit falls 18.6 per cent on US housing slump19 August 2008, Published under Cement NewsBoral Ltd’s full year net profit has dropped 18.6 per cent, dragged down by an earnings loss at its US business, which is likely to worsen this year on that country’s ongoing housing slump. Still the $242.8 million profit for the 12 months to June beat the guidance of $234 million the construction materials maker provided in May. Revenue also lifted 5.8 per cent to $5.198 billion as Sydney-based Boral increased sales at a higher price for cement and other building products in Australia. ... |
Egypt’s Amreya Cement H1 net profit surges 83%15 August 2008, Published under Cement NewsEgypt’s Amreya Cement posted a net profit of E£193.8m (US$36.4m) in the first half of 2008, a 83 per cent rise on the previous year, the stock exchange said on Thursday. Egypt banned cement exports in March until Oct. 1 to reduce prices in the local market. Amreya Cement exported only 3 percent of its production in 2007. Investment bank EFG-Hermes forecast that Egypt’s demand for cement would grow at double-digit rates in the next three years to approximately 39Mt in 2008 and 43Mt in 2009.... |
CRH appoints finance director designate15 August 2008, Published under Cement NewsCRH plc, the international building materials group, announces the appointment of Mr. Glenn Culpepper as Group finance director designate. Mr Culpepper will succeed Mr. Myles Lee, the current Group finance director and group chief executive designate, who takes over from Mr. Liam O’Mahony on his retirement at the end of 2008. |
TPI Polene plans THB6.9B provision in 3Q for fine15 August 2008, Published under Cement NewsThai producer TPI Polene plans to set aside a THB6.9bn (US$204m) loss provision in the third quarter for a fine stemming from a stock manipulation conviction, Krungthep Turakij Online reported Friday quoting the company’s founder and director Prachai Leophairatana. The provision would drag the company into the red for the third quarter and for the year, Prachai said, according to the report. The Stock Exchange of Thailand has suspended TPI Polene’s shares since Thursday morning after the... |
Cementos Argos sells COP70bn in one year notes14 August 2008, Published under Cement NewsColombia’s largest cement company, Cementos Argos SA , Wednesday sold COP70bn (US$38m) worth of commercial notes, said Bancolombia’s (CIB) investment bank, which handled the sale. Cementos Argos said in January that it will use the proceeds to pay back part of the COP250bn worth of local bonds that expire in August. Total demand for the notes was about six times the amount sold. The one-year notes will pay a yield of 11.09%. With Wednesday’s sale, Cementos Argos concludes selling COP... |
CMVM restarts investigation of Cimpor Purchase14 August 2008, Published under Cement NewsPortugal’s stock market regulator CMVM decided to start again the investigation of the possible coordination between shareholders of local producer Cimpor from 2001 when construction group Teixeira Duarte took the management control over the company. The new investigation is included in the agenda of the management council of CMVM for the second half of the year, the president of CMVM, Carlos Tavares specified on August 12, 2008. The specialists will look for new information about the acq... |
Misr Beni Suef Cement H1 net declines 0.8 per cent13 August 2008, Published under Cement NewsEgypt’s Misr Beni Suef Cement posted an 0.8 percent decline in net profit in the first half of 2008 to E£150.5m (US$28.4m), the stock exchange said on Tuesday. In March, Egypt banned cement exports until Oct. 1, saying a construction boom in the most populous Arab country had caused shortages in the local market. "The results should have an effect on the share price but this decline reflects only one operation on a limited number of shares," said Amr Alaa, broker at Prime Securities. ... |
Cement giant Lafarge posts profits boost12 August 2008, Published under Cement NewsCement supplier Lafarge has posted an 18.5 per cent profits rise as cost-cutting and acquisitions cushioned the blow of construction market gloom. The company, which employs more than 100 people at its Cauldon Works plant in Waterhouses, admitted construction activity had slowed in the US and Europe. But the Paris-based group generated a UK£1.26bn operating profit in the first half of 2008, up from UK£1.06bn in the first half of 2007. Lafarge expects another increase by the end of 2008. |
Egypt’s Suez Cement H1 net profit jumps 28.8 per cent11 August 2008, Published under Cement NewsEgypt’s Suez Cement SUCE.CA reported a 28.8 per cent rise in first-half net profit before minority interest, the stock exchange said on Sunday. A subsidiary of Italy’s Italcementi, Suez Cement posted a profit of EGP768.99m (US$145.1m), up from EGP597.04m a year earlier, the bourse said. It gave no further details. Shares in Egypt’s largest cement firm by market value were down 10.1 per cent to EGP40 by 1126 GMT. |