Cement News tagged under: corporate
Torah Cement reports 6 month results13 August 2007, Published under Cement NewsTorah Cement reports 6 month results; posting a net profit of LE 203,340,386 for the period from 01/01/2007 to 30/06/2007, compared against a net profit of LE 180,432,194 for the same comparable period from 01/01/2006 to 30/06/2006. |
Shiva Cement to allot shares to IFCI13 August 2007, Published under Cement NewsShiva Cement Ltd of Orissa has announced that it would allot 10 lakh equity shares to IFCI Ltd on preferential basis. Shareholders of Shiva Cement had passed the resolution for allotment of shares to IFCI in early-Jul 2007. The cement company has also announced the appointment of Santosh Kumar Jain as director with effect from 8 Aug 2007. The project is being funded through a mix of internal accruals and debt in the ratio of 1:2. The company has strong cash flows and funds are not likely... |
New workers’ agreement at Arawak13 August 2007, Published under Cement NewsWorkers at the Arawak Cement Company now have a paternity leave clause and an economic value added (EVA) bonus scheme. The initiatives are part of an improved agreement between monthly workers and management at Arawak Cement Company. Satnarine Bachew, general manager of Arawak Cement, was part of the company’s team which signed the three-year collective agreement with the National Union of Public Workers (NUPW) recently and stated that after months of negotiations, it was a pleasure to r... |
IDM to take stake in Saurashtra Cement13 August 2007, Published under Cement NewsIndia Debt Management (IDM), part of the the Hong Kong-based ADM Capital (ADM), is picking up a 14% stake in Mehtas-controlled Saurashtra Cement through the conversion of debentures into equity. Saurashtra’s board will meet on August 16 to consider allotment of shares to equity warrants and convertible debentures at a conversion price of Rs 35 per share. Saurashtra Cement will allot shares worth 74.5 lakh equity shares of Rs 10 each to IDM by converting a part of the convertible debentur... |
Thai SCCC Q2 net profit down10 August 2007, Published under Cement NewsSiam City Cement , Thailand’s second biggest cement maker, reported a nine per cent fall in second quarter earnings on Friday, a larger drop than expected, due to weaker sales in a slowing construction sector. SCCC, 32 percent owned by Holcim , said in a statement it made a net profit of THB944m (US$27m), or THB4.11/share, down from a THB1.04bn a year earlier. Second quarter sales fell five per cent to THB5.6bn, while sales costs dropped 1.3 per cent to THB3.9bn due to declines in ... |
Lucky Cement seeks nod for global depository receipts10 August 2007, Published under Cement NewsLucky Cement is going to apply to the Securities and Exchange Commission of Pakistan and State Bank of Pakistan for approval of its issue of global depository receipts (GDRs) in the international market, well informed sources disclosed this on Wednesday. According to a notification issued after the extraordinary general meeting, the company has decided that the aggregate value of the GDR offer including the green-shoe option will not exceed US$150m. The number of shares contained ... |
Will Indian cement sector sustain its growth momentum?10 August 2007, Published under Cement NewsThe Indian cement sector was among one of the country’s most robust performing sectors in the recent quarter registering over 65% bottom line growth and 25.6% growth on the sales front over the same quarter of previous year. The realizations of the cement companies have increased in the range of 12-15% year on year and 1-6% quarter on quarter. Most of the cement companies have been operating over 90% of their installed capacity in order to bridge the gap between demand and supply, the dema... |
Torah Cement net profit rises10 August 2007, Published under Cement NewsEgyptian Torah Cement registered a net profit increase to E£203.3m (US$36.1m) in the first half of 2007, from E£180.4m (US$32m) in the year-ago period, Cairo and Alexandria Stock Exchanges (CASE) said on August 9, 2006. In 2006, Torah Cement posted a net profit of E£231.5m (US$41.1m) against E£763m (US$135.4m) in 2005. |
Hydra buys 20% stake in Ras Al Khaimah Cement09 August 2007, Published under Cement NewsReal estate developer Hydra Properties has diversified into the building materials industry after acquiring a 20 per cent share of Ras Al Khaimah Cement Company. Sulaiman Al Fahim, CEO at Hydra Properties, said the move was triggered by a need for guaranteed cement supplies to meet the company’s construction demands. He added that Hydra Properties plans to increase its share in Ras Al Khaimah Cement Company by the end of 2007. "Since Hydra Properties has many ongoing and planned... |
Shiva Cement to allot shares to IFCI09 August 2007, Published under Cement NewsShiva Cement Ltd on Wednesday said it will allot 10 lakh equity shares to IFCI Ltd on preferential basis. The Board of Directors at its meeting approved the proposal to issue the shares to IFCI, the Orissa-based company said in a filing to the Bombay Stock Exchange. Earlier in July, the shareholders passed the resolution for the allotment of the shares to IFCI Ltd. The company further informed that Santosh Kumar Jain has been appointed director with effect from August 8. |