Cement News tagged under: corporate
Lafarge Malayan Cement posts 77.2% rise in nine month pretax profit30 November 2007, Published under Cement NewsLafarge Malayan Cement has registered a 77.2 per cent jump in nine-month pre-tax profit to RM245.713m (US$72.7m) from RM138.688m due to higher domestic and export sales as well as better plant performance and timing of scheduled plant maintenance. Revenue for the first nine months of 2007 rose just 3.6 per cent to RM1.631bn from RM1.574 billion in the previous corresponding period, it said in a filing to Bursa Malaysia. * Earnings per share increased to 7.00 sen from 3.60 sen previousl... |
Dangote Group Appoints New CEO30 November 2007, Published under Cement NewsDangote Industries Limited, the holding company for the Dangote Group, the largest industrial conglomerate in West Africa and one of the largest in Africa has announced the appointment of Mr. Tony Hadley as the Chief Executive Officer (CEO) for Cement Operations with effect from January 1, 2008. Until his new appointment, Mr. Hadley was Africa Regional President for Lafarge, a position he has held since 2001. He also held a similar position at Blue Circle Industries prior to its acquisition... |
Egypt’ National Cement Q1 net profit slides 39 per cent30 November 2007, Published under Cement NewsEgypt’s National Cement posted a 39 percent drop in net profit to E£55.5m ($10.04m) in the first quarter of the fiscal year, the stock exchange said on Thursday. National Cement’s profit in the three months to the end of September the previous year stood at E£91.3m. |
Burnpur Cement plans IPO, India29 November 2007, Published under Cement NewsBurnpur Cement Ltd, a West Bengal-based cement manufacturer, is foraying into the capital market with an IPO of 2,19,00,000 equity shares of Rs 10 each for cash at a premium of Rs 2 per share. The issue will open on November 28, 2007 and will close on December 3, 2007. The company proposes to list its shares on both the BSE and NSE. The issue will comprise a reservation of up to 10,95,000 shares for its employees and the net issue to the public would be 2,08,05,000 equity shares. This n... |
Asia Cement plans to raise US$300m in Hong Kong29 November 2007, Published under Cement NewsAsia Cement Corp., Taiwan’s second-biggest cement maker, will spin off its China unit to raise $300m in a Hong Kong initial public offering in the first quarter, Far Eastern’s Chairman Douglas Hsu said in an interview in Taipei today. Asia Cement rose by the daily limit in Taipei trading. "It’s our group policy that when you grow to a right size you should be listed,’’ Hsu said. "Once you are listed, you can follow the right corporate governance.’’ Far Eastern will join Hon Hai, Taiwan’s b... |
Jakarta rejects Semen Gresik plan to issue convertible bond27 November 2007, Published under Cement NewsThe government refuses to approve plan by state-owned cement maker PT Semen Gresik to issue convertible bond (CB) to finance the construction of new cement factories. State Minister for State Enterprises Sofyan Djalil said he feared that plan to issue CB is part of attempts to have the government share in the country’s largest cement maker diluted. The government still has controlling 51 per cent stake in Semen Gresik with private investors including the Rajawali Group and inves... |
Morgan Stanley stakes stake in Portuguese Semapa27 November 2007, Published under Cement NewsUS investment bank Morgan Stanley has become the holder of a 2.67 per cent stake in the the share capital and 2.799 per cent in the voting rights of Semapa. The financial institution currently owns a total 3,159,859 shares of Semapa, the construction and cement group said in a filing to Portugal’s national bourse regulator CMVM on November 23, 2007. The bank holds the shares through Morgan Stanley & Co. Incorporated and Morgan Stanley & Co International Plc. The amount was bought... |
Ecocem appoints Laurence Crowley26 November 2007, Published under Cement NewsIrish cement-maker Ecocem has appointed accountant and former Bank of Ireland governor Laurence Crowley as its chairman. In addition, Ged Pierse and Liam Durkan, both senior figures in the building industry in Ireland, have become non-executive directors. Mr Pierse is known to be a shareholder in the company. Ecocem has moved to beef up its board of directors in advance of an anticipated aggressive expansion of the business. Founded in 2001 by Donal O’Riain Ecocem imports... |
JK Lakshmi Cement’s net profit more than doubles26 November 2007, Published under Cement NewsJK Lakshmi Cement Ltd (JKLC) has posted a net profit at Rs 142 crore during six months of the current fiscal as compared to Rs 66 crore in the corresponding period of the previous year. The company has also restructured its high cost debts which would help in reducing interest cost of the company. JKLC has replaced its high cost debts by cheaper funds to the extent of Rs 325 crore, which will reduce interest costs, the company said in a release. The company has reported all ro... |
Downward revisions by Euroconstruct26 November 2007, Published under Cement NewsThe latest Euroconstruct Conference held in Vienna, issued its revised forecasts for 19 European construction markets for 2007 to 2009 and released new forecasts for 2010. Overall, there were slight downward revisions to 2007’s estimates (-20bps, or -0.2%, to 2.0%) led by the new residential market (-240bps (–2.4%)), particularly in Western Europe (-220bps –2.2%). The revisions for 2008 and 2009 were also modest, -10bps in 2008 to 1.4% and +20bps in 2009 to 1.6% (note analysts at Goodbody, D... |