Cement News tagged under: corporate
CGD cuts stake in Cimpor08 November 2007, Published under Cement NewsPortuguese state-owned bank Caixa Geral de Depositos (CGD) has cut its stake in the share capital of local cement production group Cimpor to 1.74 per cent, according to a filing sent to the national bourse regulator CMVM on November 6, 2007. The stake reduction resulted from various operations of Cimpor shares sale on the stock exchange on October 31, 2007. CGD sold a total 2,179,212 shares of the cement producer through these operations. As a result of the sale, CGD currently cont... |
Lafarge 3Q Net Profit +9% despite US slowdown08 November 2007, Published under Cement NewsLafarge SA Thursday said net profit for the third quarter was up 9%, supported by emerging markets growth and higher prices, and in spite of the slowdown in the U.S. residential market. In a statement, Lafarge said net profit for the third quarter stood at EUR600 million, compared to EUR548 million a year earlier. The figure was above expectations. Analysts polled by Dow Jones Newswires saw a 0.6% decline in third quarter net profit to EUR544.5 million. Lafarge reported reven... |
Italcementi cuts FY opg guidance after Q3 profits miss expectations07 November 2007, Published under Cement NewsItalcementi SpA has cut its guidance for full-year operating profits after its third-quarter results came in below market expectations. The Italian cement group said it now sees full-year operating results close to or slightly below 2006’s, against a previous indication of in line results, and repeated that net profit will be lower due to tax charges. The company said the recession in the US residential sector should continue and that there might be increased signals of a slowdown ... |
Egypt’s South Valley nine-month profit up 300 per cent05 November 2007, Published under Cement NewsEgypt’s South Valley Cement increased its net profit by 323 per cent to E£300m (US$54.7m) in the nine months ended Sept. 30, a statement from the company said on Sunday. The unaudited figures compare with E£70.9m in the same period of 2006, the statement added. On Thursday, South Valley Cement said it would distribute a dividend of one share for every three shares held. |
Gresik names Citi as banking provider05 November 2007, Published under Cement NewsTo boost its financial performance and facilitate its efforts to develop as a global player, Indonesia’s largest cement manufacturer, PT Semen Gresik, has appointed the local unit of global financial services firm Citi Group as its official financial and banking services provider. Under the agreement, Citi Indonesia (Citibank), through its Global Transaction Services unit, will provide cash and treasury management services to help manage and simplify Semen Gresik’s financial transacti... |
Higher price realisations help cement cos in Q205 November 2007, Published under Cement NewsIndian companies that have a major presence in the southern States, which witnessed the highest price in the quarter, saw their realisations zoom. Mumbai, Nov 2 Despite good realisations in the second quarter, very few cement companies could meet the market expectations due to high cost of raw material, freight and power. “Imported coal prices on a c.i.f. basis have almost doubled to around $120/t in the past nine months, driven by huge increases in sea freight. However, commissioning of c... |
Holcim names manager02 November 2007, Published under Cement NewsHolcim (New Zealand) Ltd has appointed a new manager to oversee its $200m Weston cement plant project, which has emerged as the company’s preferred long-term option to meet future demand for cement. Ken Cowie has been appointed the company’s capital projects manager, taking over from strategy and development general manager Paul Commons, who transfers this month to work for Holcim in the United States. Holcim is considering one medium-term option (continuation of the Westport plant... |
Oman Cement Co Appoints Board Member02 November 2007, Published under Cement NewsOman Cement Company (OCC) appointed Hamdan al-Wahaibi board member, representing the government, it was reported on October 31, 2007. Al-Wahaibi, who replaced Mehdi al-Abduwani, has been director general of Production Industries Development under Oman’s Ministry of National Economy since 1992. Al-Wahaibi holds a master’s degree in development and planning management. He also is a board member of Wadi al-Jezzi for Energy, the General Authority for Industrial Zones and the Agricultur... |
Cement workers to protest on November 16, India02 November 2007, Published under Cement NewsWorkers in cement factories will observe November 16 as "All India Protest Day" over the manufacturers’ "reluctance" in announcing an ad hoc payment to employees in view of the huge profits being made by them. Various workers union has also decided to go on a one-day strike in January next year if its demands are not met, N Nanjappan, General Secretary of ’Indian National Cement Workers’ Federation’, said. A decision to this effect was taken at a meeting of the various cement workers feder... |
McCarthy named PCA president/CEO, USA02 November 2007, Published under Cement NewsThe Board of Directors of the Portland Cement Association (PCA) has named Brian A McCarthy president and chief executive officer. McCarthy previously served as chief operating officer for the Computing Technology Industry Association (CompTIA), a trade association representing all sectors of the information technology industry. McCarthy succeeds John P. Gleason, Jr., who retired earlier this year after the serving as PCA president since 1986. |