Cement News tagged under: corporate
FLSmidth sells Densit A/S to Illinois Tool Works Inc01 November 2007, Published under Cement NewsFLSmidth has agreed to sell Densit A/S to Illinois Tool Works Inc. (ITW). The sale will take place in an all-share deal. The parties have agreed not to disclose the selling price. The sale marks the final stages of the Group’s ongoing focusing on Cement and Minerals, which has taken place since 2002 - Densit being one of the Group’s final remaining non-core activities. The FLSmidth Group formed Densit A/S as an independent company in 1983. Densit employs 68 people, and its turnover in 2... |
Birla Corporation net up 53%01 November 2007, Published under Cement NewsBirla Corporation Ltd, the flagship of the MP Birla group now controlled by Rajendra S Lodha, has reported a 53% increase in its profit after tax to nearly Rs 103 crore in the quarter ended September 30, 2007, even as turnover increased to Rs 456 crore from Rs 417 crore in the same quarter of the preceding year. The operating profit increased to Rs 160 crore from Rs 103 crore in the same quarter of the previous year, while earning per share has gone up to Rs 13.39 from Rs 8.77. Profit aft... |
Rockwell Automation to acquire Pavilion Technologies01 November 2007, Published under Cement NewsRockwell Automation, Inc announced it has entered into a definitive agreement to buy Pavilion Technologies, Inc. Terms of the transaction were not disclosed. The Pavilion Technologies management team and employees will become part of Rockwell Automation’s Architecture & Software segment. Pavilion Technologies software products will be integrated into the Rockwell Automation FactoryTalk® integrated production and performance suite, as well as the Logix® control platform. “This acquisition c... |
Indocement 9-month net profit up 25.4 percent as sales rise31 October 2007, Published under Cement NewsIndonesia’s second biggest cement maker, PT Indocement Tunggal Prakarsa, said Wednesday its net profit for the first 9 months of the year rose 25.4 per cent aided by higher sales and falling interest expenses. The company said it posted a 9-month net profit of IDR699.47bn, which compared to IDR557.84bn in the same period last year. Sales rose 10.2 per cent YoY to 5.31 trillion rupiah. Indocement said its operating profit rose 17 per cent to 1.12 trillion rupiah. It said ... |
Semen Gresik considers convertible bonds in 200831 October 2007, Published under Cement NewsBisnis Indonesia sources said the company will issue the convertible bonds after the issuance of US$500m bonds in January 2008. "The company will issue US$500 million loan and then it will issue the convertible bonds. They are still calculating the volume," he said. The issuance of the bond may dilute the government’s and Rajawali’s stakes of 51% and 24.9% respectively. Semen Gresik has to get parliamentary approval to issue such bonds as it may lower the government’s ownershi... |
Anhui Conch Cement May Add to Fourfold Share Gain31 October 2007, Published under Cement NewsInvestors betting against Anhui Conch Cement Co. after a more than fourfold increase in the past year may miss out on even more gains as projects such as the Three Gorges Dam and the 2008 Olympics fuel demand, allowing the company to raise prices. During the week of Oct. 12, when China’s biggest cement company advanced 30 percent, the value of its shares sold short almost tripled, according to data compiled by Bloomberg. Anhui Conch will climb an additional 53 percent, to HK$120, in the ne... |
Rinker boosts Cemex volumes29 October 2007, Published under Cement NewsFor the first nine months 2007, which included Rinker for three months, Cemex has reported at 16.2% increase in turnover to US$15,595.3m. Margins, however, deteriorated and the EBITDA was ahead by a more modest 9.6% at US$3,421.3m and the pre-tax profit actually declined by 5.0% to US$2,197.5m. As minorities increased by one fifth, the net profit fell by 6.6% to US$1,820.5m. The net debt, on the company’s definition, more than doubled from US$7,144m to US$19,156m to give a gearing level o... |
Titan Cement nine month net seen flat as Balkans help offset weaker US ops29 October 2007, Published under Cement NewsTitan Cement’s nine-month group net profit is seen coming in flat at EUR212m, when it announces its results on Wednesday, Oct 31, with a weak US housing market and a weaker US dollar offset by consolidation of new acquisitions and the strength of Balkan operations, analysts said. In a consensus poll taken by Thomson Financial News of five leading analysts, nine-month group net profits are seen coming in between a forecast range of EUR203m to EUR216m, from EUR213.5m in the same time last yea... |
Italcementi unit buys Verticalnet29 October 2007, Published under Cement NewsItalian cement company Italcementi said on Friday its unit BravoSolution has agreed to buy U.S. supply management solutions firm Verticalnet in an all-cash offer worth $15.2 million including debt. BravoSolution will buy all of Verticalnet’s shares for $2.56 a share, Italcementi said in a statement. The two companies will later merge to form a group with annual sales of $60 million, it said. |
Raysut profit up on surging cement demand29 October 2007, Published under Cement NewsRaysut Cement, Oman’s largest cement firm by market value, made a third-quarter profit of OMR7.12m ($18.50m), an increase of 26.9% from the year-earlier period. Net income in the nine months to September 30 was 19.69 million rials, compared with 15.68 million rials in the year-earlier period, the company said in a statement on the Oman bourse website. Reuters calculated the third-quarter based on first-half earnings of 12.57 million rials and third-quarter profit last year of 5.61 million... |