Cement News tagged under: corporate
Egypt’s South Valley 2007 net profit $107m09 April 2008, Published under Cement NewsEgypt’s South Valley Cement achieved a net profit of E£582.2m (US$107m) in 2007, more than twice what it made in 2006, the stock exchange said in a statement on Tuesday. The company’s net profit in 2006 was E£264.9m, it added. Egyptian cement companies have benefited from recent high prices and strong demand from abroad. The government imposed a temporary ban on exports from March to October to hold down prices on the domestic market. |
Sawiris increases Lafarge stake to 13.09 per cent07 April 2008, Published under Cement NewsNassef Sawiris, NNS Holding Sarl and NNS Holding increased their stake in Lafarge on March 27 to 13.09%, according to a filing with the French stock exchange authority, Autorite des Marches Financiers. According to the filing, on the same date, the voting stake of Sawiris and the holding companies increased to 12.17%. The purchase of the shares, which were sold at EUR125 per share, was approved by Lafarge shareholders at a meeting Jan. 18 in order to finance Lafarge’s purchase of... |
Lafarge participates in capital increase of Birtas02 April 2008, Published under Cement NewsCement company Lafarge Aslan Cimento informed that it participated in the capital increase of its subsidiary Birtas Birlik. The statement issued to the Istanbul Stock Exchange by Lafarge notes that Birlik raised its capital to TRY450m from TRY100m. Lafarge contributed to the capital increase with TRY350m. |
Camargo Corrêa Cimentos sees profits rise 9.7% in 200702 April 2008, Published under Cement NewsThe growth of the Brazilian civil construction market buoyed the results in 2007 of Camargo Corrêa Cimentos. Last year, the company registered net profits of R$211m (US$120.5m), with 9.7% growth compared with the R$192.7m (US$110m) obtained in 2006. Armando Silva, the company’s manager of strategic planning who soon will become administrative and financial director, attributed the performance to the recovery of receipts, both in greater sales volume and in higher prices of the cement sold, ... |
Mexico’s Cemex starts big asset sale to pay debt02 April 2008, Published under Cement NewsCemex, may have to sell up to $2.7 billion in assets, according to a report from Reuters, to repay its huge debt and avoid losing its investment grade status amid the U.S. housing crisis, analysts said on Tuesday. Cemex, which last year paid $16 billion for Australian rival Rinker, said on Monday it sold its 9.5 per cent stake in local telecoms company Axtel, generating $257 million in cash. While that amount is tiny compared to Cemex’s $18.9 billion debt load, the sale signals the start o... |
Egypt’s Alexandria Cement makes US$31m profit in 200731 March 2008, Published under Cement NewsAlexandria Cement made a consolidated net profit of E£174.14m (US$31m) before minority interest in 2007, the stock exchange said on Sunday. The exchange did not give a comparative figure for 2006 because Alexandria Cement had merged with Blue Circle Egypt. According to the company’s reports, Alexandria Cement made a consolidated net profit attributable to shareholders of E£189.54m in 2006. Egypt’s trade and industry ministry said on Thursday it will ban cement exports from March ... |
Benue Cement of Nigeria full-year profit drops31 March 2008, Published under Cement NewsBenue Cement Co Plc, Nigeria said full-year profit slumped 59 per cent on lower sales. Net income fell to 1.25 billion naira (US$10.68m), from 3.10 billion naira a year earlier, the Gboko-based company said today in a statement on the website of the Nigerian Stock Exchange. Sales declined eight per cent to 5.5 billion naira. |
West China Cement preliminary results 200731 March 2008, Published under Cement NewsWest China Cement (WCC), based in the western Chinese province of Shaanxi, announced its preliminary results for the year ended 31 December 2007. Revenues increased to RMB526m (GBP37.6m) from RMB307m (GBP21.9m) - up 71 per cent. Record post-tax profit of RMB150m (GBP10.7m), a 69 per cent increase over 2006. The two new production lines at the Lantian plant were both completed on time and operated to capacity by the end of 2007 Tonnage produced for the year totalled 2.42Mt, with the n... |
Buzzi FY net rises 31 per cent28 March 2008, Published under Cement NewsBuzzi Unicem SpA said full-year net profit rose about 31 per cent from a year earlier, topping expectations, and that it expects recurring operating profits in 2008 to be similar to the ’very satisfying’ ones of 2007. Cement sales rose 2.2 per cent to 34.1Mt, driven by improvements in all its markets expect the US and Italy, while they were stable in Russia, and concrete sales rose 3.4 pct to 17.1Mm3, it said. Net profit rose to EUR458.5m from EUR349.8m in 2006 and EBITDA rose 12.3 ... |
Texas Industries: static cement volumes in year to date28 March 2008, Published under Cement NewsIn the nine months to the end of February, Texas Industries generated at turnover 3.8% ahead at US$762.5m, while the pre-tax profit, distorted by exceptional items, declined by 14.3% to US$89.6m. Cement price increases have been announced for Texas and California, the two markets where Texas Industries operates, and pricing in aggregates remains positive. The commissioning of the new 2.1Mta cement plant in California is on schedule to reach full production by the end of June. Changes i... |