Cement News tagged under: corporate
Colombia’s Cementos Argos sells COP76B in nine month commercial notes30 August 2007, Published under Cement NewsColombia’s largest cement company, Cementos Argos SA, sold COP76bn (US$35.1m) in nine-month commercial notes Wednesday, the company said in a filing to the country’s securities regulator. The papers maturing May 29, 2008, will yield the benchmark DTF -a weighted average of the rates paid by financial institutions on 90-day certificates of deposit calculated by the central bank - plus a spread of 1.6%. Total demand for the notes was more than twice as much the amount sold. The ... |
Helmut Erhard to retire from Lehigh Cement Company; Dr. Albert Scheuer to become new CEO29 August 2007, Published under Cement NewsLehigh Cement Company has announced the retirement of Helmut S. Erhard, CEO, President and member of the Managing Board of Lehigh’s parent company, HeidelbergCement Group, effective December 31, 2007. Dr. Albert Scheuer, member of the HeidelbergCement Group Managing Board, will succeed Mr. Erhard as Lehigh’s CEO and President on January 1, 2008. Currently he serves as Executive Vice President, working with Mr. Erhard during this transition phase. |
Strong CRH profit growth in Europe29 August 2007, Published under Cement NewsCRH’s first half turnover rose by 20.8% to EUR9698m and the EBITDA increased by 23.4% to EUR1141m, while at the trading level there was a 25.8% advance to EUR771m. The net attributable profit advanced by 25.6% to EUR506m. Capital expenditure in the period was 22.1% higher at EUR520m, with net debt at the end of June standing at EUR5,826m to give a gearing level of 77.9%. The European turnover increased by 22.5% to EUR5071m and the trading profit jumped by 50.0% to EUR495m, while the Amer... |
TPI Polene: outlook depends on timing of refinancing28 August 2007, Published under Cement NewsThailand’s TPI Polene’s (TPIPL) 2H07 core earnings is expected to be stable from 1H07 as: i) Domestic cement sales in 2H07 should accelerate following the improved Thai economy, indicating higher earnings contribution to the company. ii) Its chemical earnings should soften due to higher ethylene prices resulting from the increased shutdown of global ethylene plants in 2H07. This implies a narrower LDPE-ethylene spread. The deadline for the refinancing of TPIPL’s existing restructured de... |
TCC posts $60m profit as sales rise28 August 2007, Published under Cement NewsTCC International Holdings, a cement manufacturer, importer and distributor, reported a net profit of HK$60.1m through June, compared to a loss of HK$24.2m in the same period last year. Earnings per share was 7.8 HK cents. The company did not recommend an interim dividend. The bottom line improved mainly as a result of rising cement selling price and higher sales volume, along with cost efficiencies achieved at the manufacturing bases in Yingde and Fuzhou. The Yingde plant wit... |
Holcim plans to increase stake in Ambuja Cement24 August 2007, Published under Cement NewsHolcim Ltd has launched a $1.34bn offer to acquire a controlling stake in its Indian partner as an expansion into Asia begins to pay off. As part of the offer, Zurich-based Holcim said it bought an additional 3.9% of India’s Ambuja Cement Ltd. after picking up a third of the company in 2006. The group said it’s paying rupee 154 ($3.75) per share for the holding and announced a public offer for an additional 20% stake at the same price. The bid offers shareholders an 18% premium ove... |
Adelaide Brighton promises further increases after 1H earnings rise 12 per cent23 August 2007, Published under Cement NewsAdelaide Brighton Ltd has raised its full year guidance on expectations of greater demand for cement and lime. The company today posted a 12.1 per cent increase in first half net profit to $44.5m. "Based on our strong first half performance and immediate outlook, we have raised our 2007 full year net profit after tax forecast to a range of $107m to $112m," managing director Mark Chellew said. "We believe the potential cement demand is going to increase by about 10 to 15 per ce... |
Siam Cement Group sweeps 5 out of 9 awards in Thailand Corporate Excellence Awards20 August 2007, Published under Cement NewsThe Siam Cement Group swept five out of the nine awards in the sixth Thailand Corporate Excellence Awards. The group received votes from companies nationwide and the final selection was made by the Thailand Management Association (TMA) with the Sasin Graduate Institute of Business Administration. Siam Cement won awards for Overall Corporate Excellence, Commitment to Human Resource Management, Commitment to Innovation, Commitment to Innovation, Commitment to Product Quality and/or S... |
Chile producers’ profits dip in 1H0720 August 2007, Published under Cement NewsChile’s top three cement producers – Cementos Bío Bío, Lafarge and Polpaico – all saw their bottom line drop during the first half of this year compared to the same six months of 2006, according to separate company filings to the securities regulator SVS. Bío Bío saw net profits plunge 73.7% to 10.4bn pesos (US$19.7mn) during the first half of 2007 compared to the same period in 2006. The difference is due to the sale of forestry assets in June last year, which brought in an extra 25.... |
Cimpor H1 sales seen up on new units, higher costs to weigh on net20 August 2007, Published under Cement NewsCimpor is expected to report next Friday firm top line growth thanks to its consolidation of recent acquisitions, though this is expected to weigh on the company’s cost base, analysts said. They noted, however that the focus will be on possible M&A movements in the stock after recent major changes to Cimpor’s shareholder structure, in the form of Lafarge’s stake hike to about 17 per cent from about 12 per cent previously and a reduction in Credit Suisse’s stake. ’We expect market ... |