Cement News tagged under: corporate
Sinai Cement reports H1 07 results15 August 2007, Published under Cement NewsSinai Cement reports 6 months results; posting a net profit of LE 187,542,343 for the period from 01/01/2007 to 30/06/2007, compared against a net profit of LE 147,303,407 for the same comparable period from 01/01/2006 to 30/06/2006. |
Misr Beni Suef Cement H1 2007 Net Profit Up14 August 2007, Published under Cement NewsIn 2006 the company’s net profit soared 71 pct year-on-year to 227.7 mln pounds (US$40.4 mln/29.6 mln euro). It also distributed 2.7 pounds ($0.48/0.35 euro) of dividend per share. The company was set up in November 1997 with an authorised capital of 500mln pounds (US$88.6 mln/64.9 mln euro). Its capacity stands at 1.5 million tonnes a year of which 600,000 tonnes are reportedly exported mainly to European markets. |
Kumar Mangalam to get cement business from BK14 August 2007, Published under Cement NewsBasant Kumar Birla, the grand old man of Indian business, has decided to hand over the reins of his empire over the next three years, if not earlier, to his grandson Kumar Mangalam Birla, who heads the AV Birla group. As per his wishes, all cement companies will go to his grandson, but a part of Kesoram Industries, the flagship of the group, is likely to be given as a share to his daughter, Manjushree Khaitan. The succession plan of the B K Birla Group has been much in news over the las... |
Brazil GP Investments Acquires Magnesita14 August 2007, Published under Cement NewsBrazilian asset manager GP Investments Ltd. acquired control of Magnesita SA for an initial amount of 1.24 billion Brazilian reals ($635 million), GP said Monday in a statement. Under the deal, GP will acquire a stake of 70.7% of Magnesita’s voting capital and 38.6% of Magnesita’s total capital. Magnesita is the largest producer of refractory material in Latin America, supplying its products and related services to the steelmaking, cement and glass industries, from six plants in Braz... |
St. Lawrence Cement to delist from TSX14 August 2007, Published under Cement NewsClass A subordinate voting shares of St. Lawrence Cement Group will be halted from trading on the Toronto Stock Exchange and such shares will remain halted until the close of business today, Aug. 13, 2007, at which time they will be delisted. Holcim Investments (Canada) Inc., an indirect wholly owned subsidiary of Holcim Ltd., has mailed a notice of compulsory acquisition on Aug. 10, 2007, to all shareholders of St. Lawrence Cement Group Inc. who did not accept the cash purchase offer, p... |
Semen Gresik Plans To Issue US$300M bonds13 August 2007, Published under Cement NewsPT Semen Gresik is planning to issue US$300 million of bonds overseas during the fourth quarter of the year to help finance this year’s investment, a banker familiar with the plan said Monday. Indonesia’s largest cement producer by output has named JP Morgan to underwrite the planned bonds, which are likely to have a tenor of between five and seven years, the banker told Dow Jones Newswires. He didn’t provider further details of the plan, adding that the company and JP Morgan expect ... |
SCCC posts operating results for 2nd Quarter 200713 August 2007, Published under Cement NewsThe consolidated interim financial statements of Siam City Cement Public Company Ltd and subsidiaries for the 2nd quarter periods ended June 30, 2007 and 2006 with a summary of its operating result are as follows: The consolidated net sales and total revenues of the Company were THB 5,605 million and THB 5,741 million for the 2nd quarter 2007 compared to THB 5,900 million and THB 5,998 million in the 2nd quarter 2006. This is a decrease of 5% and 4.3%, respectively, and mainly due to low... |
JK Cement on a firm footing13 August 2007, Published under Cement NewsJK Cement stocks have moved up from Rs 132 to Rs 170 over the past few months. Strong profit growth during the March and June quarters has aided the stock’s appreciation. JK Cement has also benefited from the current recovery in cement stocks. Local analysts continue to be positive on the stock, given the company’s aggressive expansion plans, strong cash flows and cost savings of close to Rs 100-150 per tonne due to the commissioning of its captive power plant. ET Investor’s Guide advise... |
Egypt’s South Valley recommends stock dividend13 August 2007, Published under Cement NewsThe board of Egypt’s South Valley Cement has recommended the company issue a stock dividend of one free share for every three held, the company said in a statement released on Sunday. The company increased net profit by 168 per cent in the first half of 2007, to 217.8 million Egyptian pounds ($38.5 million). The new stock would have a nominal value of about 370 million pounds, according to Reuters data. |
Suez and Torah reports H1 07 results13 August 2007, Published under Cement NewsSuez Cement reports 6 months consolidated results; posting a net profit before minority interest of LE 597,041,827 for the period from 01/01/2007 to 30/06/2007, compared against a net profit before minority interest of LE 554,352,430 for the same comparable period from 01/01/2006 to 30/06/2006. |