Cement News tagged under: corporate
Asia Cement Plans Hong Kong IPO as early as 200828 September 2007, Published under Cement NewsAsia Cement Corp, a member of Taiwan’s Far Eastern Group, is planning an initial public offering in Hong Kong as early as next year, the Economic Daily News reported Friday, citing Far Eastern Group Chairman Douglas Hsu. The group, which also includes Far Eastern Textile Ltd and Far Eastern Department Stores Ltd, aims to eventually list all of its publicly traded members in Hong Kong, the newspaper cited Hsu as saying. He didn’t give a timetable for the other companies’ IPO plans... |
Pakistan’s Cherat Cement’s profit dips to Rs 184.158m28 September 2007, Published under Cement NewsThe profit after tax of Cherat Cement Company Limited declined to Rs 184.158m in the year ended on June 30 as compared to Rs 537.785m earned in the corresponding period of last year. The earning per share of the company stood at Rs 1.93 in the period under review against Rs 5.63 in the same period last year. The board of directors of the company, in its meeting held here on Thursday, recommended cash dividend for the year at rupee one per share, ie 10 percent. The Karachi Stock Exchang... |
Chia Hsin Cement shares up on Credit Suisse report28 September 2007, Published under Cement NewsChia Hsin Cement Corp. shares gained after Credit Suisse Group initiated coverage on Taiwan’s fourth largest cement maker with an "outperform" rating. Chia Hsin climbed 6.9 percent, the daily limit, to NT$28.70 at the close of trade in Taipei, compared with a 1.7 percent gain in the benchmark Taiex index. "CHC is a pure China play, tapping into the growth of the mainland Chinese economy," Taipei-based analysts Sidney Yeh and David Liao wrote in a report yesterday. They set a 12-month price... |
Cemex seeks review of takeover panel Rinker declaration27 September 2007, Published under Cement NewsAustralia’s Takeovers Panel said Thursday that Cemex SAB has launched a Federal Court appeal of its July declaration of unacceptable circumstances and orders relating to the Mexican cement company’s takeover of Rinker Group Ltd. The panel said in a statement it will grant a stay in respect of its orders pending the outcome of the appeal, to which the Australian Securities and Investment Commission has also been named as a respondent. The appeal relates to the panel’s order for Cemex ... |
Holcim sets 2010 margin targets, focus on aggregates27 September 2007, Published under Cement NewsHolcim Ltd Thursday revealed new divisional targets for 2010, including a clear improvement in its building aggregates business. In aggregates, the company’s second-largest division, Holcim expects the proportion of Ebitda to sales to rise to 27.0% in 2010, from 20.7% in 2006, according to documents made available after a Holcim investor presentation. The company expects to achieve this margin target by reviewing its quarries, implementing efficiency measures and improving marketin... |
Lafarge’s Romanian succes25 September 2007, Published under Cement NewsRomanian Lafarge Cement, expects its turnover to increase by 30 per cent YoY to €300m, much more generous than an earlier forecast. The company revised up its 2007 target based on the 84 per cent year-on-year growth in turnover registered in the first half of 2007. Since entering the Romanian market, the company has reportedly spent €350m on plant improvements and upgrade work.. Lafarge is one of the key players beside Holcim and HeidelbergCement in the Romanian cement market, which is good... |
Bihir, India to get more grinding unts25 September 2007, Published under Cement NewsThe Nitish Kumar-led government in Bihar, India has received proposals for investment worth Rs 400 crore from cement companies, Ambuja Cements and the Birla Corporation. Ambuja Cements, one of the top manufacturers, has proposed setting up of a cement grinding unit of one million tonne capacity in Barh at an investment of Rs 138 crore. Birla Corporation, the flagship company of the MP Birla group, has proposed setting up of a one million tonne grinding unit in B... |
Luks Group in vietnam real estate move25 September 2007, Published under Cement NewsLuks Group (Vietnam Holdings) Co. Ltd of Hong Kong has decided to set up a joint venture in real estate in Viet Nam. According to the company, at the end of August, 2007, its wholly-owned subsidiary of Luks Land agreed with the Indochine Company in Viet Nam to set up a joint venture. Luks Land will contribute close to US$5m to the joint venture. Luks Group (Vietnam Holdings) Co. Ltd is listed on the stock exchange of Hong Kong. It is principally engaged in the manufacture and sale of cement ... |
SCG unit determined to meet B52bn target; Industry slowdown won’t stop efforts24 September 2007, Published under Cement NewsSCG Distribution Business, the distribution arm of the Siam Cement Group, is determined to drive sales to meet its target for the year of 52 billion baht amid a downturn in the industry. The company was maintaining the sales target as a commitment to its parent despite the slowdown in construction and housing, said Kajohndet Sangsuban, the president of SCG Distribution. Demand in the overall building products market in the first half of this year fell by 5% from the same period las... |
Holcim Maroc first-half net profit rises 22 per cent24 September 2007, Published under Cement NewsThe Moroccan unit of Holcim said on Friday first-half net profit rose 22 per cent as new housing, tourism and infrastructure projects reinforced demand for its products. Net income grew to MOD265.7m (US$33m) from MOD218.3m a year earlier, Holcim Maroc said in a statement. Operating profit rose 21 per cent to MOD357m and turnover grew 22 per cent to MOD1.16bn. Morocco is upgrading and expanding roads and ports, improving housing for its population and building hotels and holiday home... |