Cement News tagged under: corporate
Monarch Cement Co - Nine Year High in EBITDA for Monarch Cement20 November 2007, Published under Cement NewsEBITDA for The Monarch Cement Company for its quarter ended September 30, 2007 was $11,000,675, a 8.9% increase over the year earlier same quarter when Monarch Cement generated $10,100,183 in EBITDA. Monarch Cement has generated eleven consecutive quarters of positive EBITDA. EBITDA for the most recent quarter also reached a nine year high.For Monarch Cement’s twelve months ended September 30, 2007 EBITDA was $28,868,046, compared with $30,302,931, a 4.7% decrease over the comparable year e... |
Egyptian Ameriya Cement net profit up to US$43.9m20 November 2007, Published under Cement NewsEgyptian company Ameriya Cement booked a consolidated net profit of E£242.4m (US$43.9m) in the first nine months of 2007, against E£238.7m (US$43.2m) in the year-ago period, the company said to Cairo and Alexandria Stock Exchanges (CASE) on November 15, 2007. Non-consolidated net profit was E£147.9m (US$26.8m) compared to E£92.1m (US$16.7m). In August 2007, the company announced a non-consolidated net profit of E£96.6m (US$17.5m) for the first half of 2007, up from E£65.5m (US$11.9m... |
Egypt’s South Valley plans capital increase19 November 2007, Published under Cement NewsEgypt’s South Valley Cement said on Sunday its board had approved a plan to increase its capital to E£2.2bn (US$398.6 m) from E£1.48bn to finance expansion. Tamer Abdel Rahman, the firm’s investor relations director, said existing shareholders could buy one share for every two they already own at a par value of 5 pounds per share. "The company intends to finance the completion of the cement factory in Beni Suef," he said. South Valley is building a cement factory in Beni Suef with... |
HeidelbergCement: Still mulling hybrid, but equity cheaper19 November 2007, Published under Cement NewsHeidelbergCement AG is still considering selling a hybrid bond to help fund its acquisition of U.K.-based Hanson, but the issue will not come to market this year, a spokeswoman for the company said Friday. "The hybrid bond is not canceled. It is still being considered," she said. "Equity is cheaper for us at the moment, but we are keeping our all our options open." The hybrid bond was expected to total EUR2bn. Earlier this month, the company announced plans to raise EUR500m in... |
Vulcan Materials buys Florida Rock19 November 2007, Published under Cement NewsVulcan Materials Co has closed its acquisition of Florida Rock Industries, Inc, for total consideration to Florida Rock shareholders of approximately $4.2bn based on the closing price of Vulcan stock on November 15, 2007. Florida Rock is a producer of construction aggregates, cement, concrete and concrete products in the Southeast and Mid-Atlantic states. According to Vulcan, the deal gives the company with an enhanced presence in Florida markets and in other Southeast and Mid-Atlantic stat... |
Saint-Gobain never approached Lafarge19 November 2007, Published under Cement NewsFrench building materials group Saint-Gobain said on Friday it had never approached cement giant Lafarge about a possible merger and reaffirmed its commitment to sell its packaging unit in 2008. "We do not share the same industrial logic ... Saint-Gobain in its genes has always been a diversified group ... Their (Lafarge’s) strategy is cement, cement, cement," Benoit Bazin said on the sidelines of a shareholder trade fair in Paris on Friday. Asked whether Saint-Gobain had ever approached ... |
Taiwan Cement aims to boost return on equity to 25 per cent19 November 2007, Published under Cement NewsTaiwan Cement Corp aims to raise the return on equity (ROE) to 25 pct from the current 12-13 per cent, the Economic Daily News quoted the company’s chairman Koo Cheng-yun as saying. The report did not provide a timeframe for achieving the target. Taiwan Cement will continue to expand its core business while selling non-core operations, as part of efforts for boosting the ROE, the official said. The company plans to have total annual capacity of 60 mln metric tons by 2012, of which 10 mln ton... |
Holcim ordered to dish out US$32m to workers16 November 2007, Published under Cement NewsThe office of Ecuador’s attorney general (PGE) has ordered the local branch of Holcim to pay US$31.7mn to its workers, PGE said on its website without reporting the number of workers to benefit. The money is to be awarded under the concept of profit sharing as required by law, which PGE ruled that Holcim had failed to do between 1999 and 2003. The amount represents 15% of Holcim del Ecuador’s profits for the period in question. The affected workers had presented their case to th... |
ACC to transfer ready-mix concrete business to subsidiary16 November 2007, Published under Cement NewsCement major ACC has decided to transfer the ready-mix concrete business to its wholly owned subsidiary ACC Concrete Ltd for a consideration of not less than Rs 100 crore. In an announcement to BSE, it said “The company’s Ready Mix Concrete Undertaking which comprises 24 units in operation and 5 units under construction situated at various locations in India, along with all other assets of this undertaking as a ‘going concern’ on a slump sale basis to its wholly owned subsidiary ACC Con... |
Vulcan Materials and Florida Rock receive approval to close transaction16 November 2007, Published under Cement NewsVulcan Materials Company and Florida Rock Industries, Inc announced today that they have received clearance from the Department of Justice under the Hart-Scott-Rodino Act for Vulcan to complete its acquisition of Florida Rock. The closing is expected to take place on November 16, 2007. Vulcan and Florida Rock have agreed to a consent decree with the Department of Justice that is still subject to the approval of the district court for the District of Columbia. As a condition of the cons... |