Cement News tagged under: corporate
CRH: more share buybacks10 January 2008, Published under Cement NewsCRH plc announces that on 9th January 2008, UBS Limited purchased, on behalf of the Company, 85,672 Ordinary Shares of €0.32 each in CRH plc at prices between €22.70 and €23.90 per Ordinary Share. The purchased shares will be held as Treasury Shares. Following the above transaction, CRH plc holds 270,514 Ordinary Shares in Treasury. The number of Ordinary Shares in issue (excluding Treasury Shares) is 546,956,680. |
Thailand’s Siam Cement: softer earnings10 January 2008, Published under Cement NewsSCC is expected to announce a 4Q07 net profit of Bt5.2bn, up 11.4% YoY but down 31.1% QoQ. With no extraordinary items throughout the quarter, its normalized profit is expected to be Bt5.2bn, down 11.1% YoY and 7.5% QoQ. This is attributable to a deceleration in the performances of its chemical and paper units, and flat cement earnings. For the year, stripping out extra gains of Bt4.5bn from the divestment of its stake in other businesses, SCC’s normalized profit is forecast to be Bt25.4bn, ... |
CNBM Buys cement companies10 January 2008, Published under Cement NewsChina National Building Material Co., Ltd is set to acquire six cement and clinker manufacturers for CNY 3 billion. Presently, it has inked contracts to purchase Zhejiang Jurong Cement Zhejiang Shanying Cement and Zhejiang Xingbaolong Building Material Company, three of the six targeted companies, for about CNY 1.4 billion. The remaining CNY 1.6 billion will be mainly used to purchase three subsidiaries of Zhonglida Group. The running state of some small-sized cement and clinker manufactu... |
Binani Ind to consider fund raising on Jan 1909 January 2008, Published under Cement NewsBinani Industries Ltd said on Tuesday its board will meet on January 19 to consider raising upto $125 million through the equity or debt route by its subsidiary, Binani Cement Ltd. The fund will be used for capacity expansion and overseas acquisition, it said in a statement. |
Shree Cement Oct-Dec net falls on depreciation cost09 January 2008, Published under Cement NewsShree Cement Ltd reported a 66.35 per cent fall in Oct-Dec net profit due to high depreciation costs, a top official said on Tuesday. Net profit in the third quarter was 350 million rupees, down from 1,041.29 million rupees in the same period a year ago. The company has provided 1.87 billion rupees for depreciation and amortization costs, up from 262.94 million rupees in the same period a year ago in line with its policy to distribute the cost equally every quarter, Managing Direct... |
TXI Reports Second Quarter Results07 January 2008, Published under Cement NewsTexas Industries, Inc reported net income for the quarter ended November 30, 2007 of US$29.3m ($1.05 per share). For the same period ended November 30, 2006, net income equaled $28.7m ($1.09 per share). Last year’s quarter included $12.9m ($.47 per share) in after-tax income as a result of cash received from the settlement of the U.S. antidumping order on Mexican cement. "After a year of exceptionally wet weather, product shipments in our Texas markets recovered nicely in the November q... |
Board of Directors approve Lafarge’s acquisition of OCI Cement Group04 January 2008, Published under Cement NewsThe Board of Directors of Lafarge S.A has approved the acquisition of OCI Cement Group, the cement unit of Orascom Construction Industries (OCI). OCI has signed an agreement with Lafarge, pursuant to which OCI has agreed to sell OCI Cement Group to Lafarge for a total consideration of EUR8,800 million. The transaction is expected to be completed during January 2008. Under the terms of the agreement, OCI will receive a total payment of EUR8,800 million and Lafarge will assume $2... |
Burnpur Cement shares list at 25% premium, India03 January 2008, Published under Cement NewsThe shares of Burnpur Cement Ltd listed at Rs 15 on Thursday, up 25 per cent from its issue price of Rs 12. Its shares were trading at Rs 25 at 09.56 a.m., on the NSE after touching a high of Rs 36. The proceeds from the 20.8-million-share issue would be used to part-finance its new cement-grinding unit in Jharkhand at a cost of Rs 120 crore and with a daily capacity of 800t. |
CRH trading statement03 January 2008, Published under Cement NewsCRH plc today issued its trading statement for the year ended 31 December 2007. The Preliminary Results for 2007 are due to be announced on Tuesday 4 March 2008. Highlights • CRH expects 2007 profit before tax to be close to euro 1.9 billion giving a high-teen percentage increase on 2006 (EUR1.602bn) and a 15th consecutive year of profit and earnings growth. • Acquisition spend in the second half of 2007 amounted to euro EUR1.2bn resulting in a record full year acquisition spend of approx... |
Saudi Yanbu Cement’s Q4 profit up 1.6 per cent02 January 2008, Published under Cement NewsYanbu Cement, Saudi Arabia’s fourth largest cement firm by market value, posted a 1.6 per cent rise in fourth-quarter net profit on Monday. Yanbu Cement made a net profit of SAR660m in 2007, up 29 per cent from the previous year, the company said in a statement. Based on historic data, Yanbu Cement’s net profit in the fourth quarter of 2007 stood at SAR107.9m (US$28.8m), up from SAR106.2m a year ago. Analysts at Global Investment House had expected quarterly net profit of SAR1... |