Cement News tagged under: corporate
Cemex’s 3Q07 net sales increase 31%; EBITDA up 23%26 October 2007, Published under Cement NewsDuring the third quarter of 2007, majority net income decreased 7% to US$780m from US$836m in the third quarter of 2006. The recognition of an extraordinary gain of close to US$100m from the sale of our stake in the Indonesian cement company Semen Gresik in the third quarter last year, as well as higher financial expenses in the quarter due to the Rinker acquisition, contributed to the decrease. Net debt at the end of the third quarter was US$19.2bn, representing an increase of approxi... |
FLSmidth sells Densit A/S to Illinois Tool Works Inc26 October 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... |
JK Lakshmi Cement plans investment25 October 2007, Published under Cement NewsBuoyed by a three-fold increase in its net profit during the quarter ended September 30, JK Lakshmi Cement on Wednesday said it will invest Rs 650-700 crore to set up a greenfield plant in the next three years. The company reported an over three-fold jump in the net profit after tax at Rs 73.5 crore for the quarter ended September 30 as compared to Rs 23.37 crore in the same quarter last year. It also registered an increase of 65.03% in its turnover at Rs 309.82 crore in the second quarter... |
Attock Cement’s profit falls24 October 2007, Published under Cement NewsThe profit after tax of Attock Cement Pakistan Limited declined to Rs 88.048m in the first quarter ended on September 30 as compared to Rs 318.308 million earned in the corresponding period last year. The earning per share of the company stood at Rs 1.22 in the period under review against Rs 4.41 in the same period last year. The Karachi Stock Exchange (KSE) was informed that the company’s net sales declined to Rs 1,064.213 million in the first quarter of 2007 financial year against Rs... |
Madras Cements net rises on better regional prices24 October 2007, Published under Cement NewsMadras Cements Ltd of India posted a 34 per cent rise in its quarterly net profit riding better price realisations in the southern region and beating analysts’ estimate. It has posted a net profit of 1.21 billion rupees in July-Sept against 900.7 million rupees in the same period a year ago. A Reuters poll of analysts had forecast a net profit of 1.12 billion rupees. The average realisation for cement companies in south India has been better than those in the rest of the count... |
Binani Cement Jul-Sep net at INR478.7m24 October 2007, Published under Cement NewsBinani Cement Ltd has posted a net profit of INR478.7m for the July-September period on a net sales of INR2.14bn. It is looking at a full-year net profit of INR3bn and hopes to save INR200m towards logistics costs by relying more on railways, Deputy Managing Director Vinod Juneja said. The prices are expected to remain stable and the gross realisation has been 3,500-3,600 rupees per tonne, Assistant Vice-President (Finance), Visalakshi Sridhar, said. "The next three years should be a... |
Siam Cement Q3 op profit slumps on petchem margins24 October 2007, Published under Cement NewsSiam Cement PCL , Thailand’s biggest industrial conglomerate, reported a 33 per cent fall in third-quarter operating profit on Wednesday as higher production costs ate into margins at its petrochemicals business. Weak economic growth also continued to drag on its cement and building materials business in the quarter and will weigh on the full-year 2007 earnings of Siam Cement. The firm, which gets almost half its profits from petrochemicals, said its July-September operating profit ... |
Holcim: Capital Group stake falls below 5%24 October 2007, Published under Cement NewsHolcim Ltd the stake held by US investment company Capital Group Cos Inc has fallen to slightly below 5% from around 10%. Holcim was informed by Los Angeles-based Capital Group that it holds for itself and for its subsidiaries 13,173,185 registered shares, or 4.99% of the voting rights and the share capital. The Capital Group’s previous stake was 9.99%, or 22,961,792 shares. |
Thai TPI Polene Q3 net profit down on forex loss24 October 2007, Published under Cement NewsTPI Polene (TPIPL), Thailand’s third largest cement firm, said on Wednesday its third quarter net profit fell 39 per cent due to a foreign exchange loss. TPIPL’s July-September net profit was THB449.7m (US$13.17m) compared with THB735.6m a year earlier, the company said in a statement. The quarterly profit was below the THB877.7m net profit of the second quarter and included a THB71m foreign exchange loss compared with a THB368m foreign exchange gain a year earlier, it said. ... |
Foundation of A TEC subsidiary in Mexico24 October 2007, Published under Cement NewsTo support its operations in North, Central and South America, A TEC has founded a subsidiary named Austria TEC, S.A. de C.V. in Puebla, Mexico. This has been prompted by increasing success in the Americas, following recent orders by Holcim Apasco, St. Lawrence Cement and Lafarge USA. This new position complements the head office in Krems, Austria and its Malaysian subsidiary allowing A TEC to provide a global service with simply 3 divisions. The new office will independently carry out pro... |