Cement News tagged under: corporate
Thailand’s TPI Polene (TPIPL): Big YoY jump in 2Q07 earnings seen10 July 2007, Published under Cement NewsTPI Polene (TPIPL) is expected to announce a 2Q07 normalised profit of Bt397m, down 20% QoQ but up 64% YoY. Reasons for TPIPL’s YoY earnings growth, despite cement industry growth expected to slide 8%, are numerous. 1) TPIPL’s interest expenses are expected to fall to just Bt116mn, down 69% YoY, as TPIPL increased its capital last year to repay debt. 2) The petrochemical business is expected to see a strong second quarter due to the high LDPE - Ethylene spread of $333/t (up 45% QoQ, up 177% Y... |
Tabuk Cement posts US$32.02m 1H07 net profit06 July 2007, Published under Cement NewsThe net profit of Saudi producer, Tabuk Cement Company (TCC) stood at SAR120.1m (US$32.02m) for the first half of 2007, slightly up from SAR120m (US$32m) for the same period a year earlier, the company said on July 4, 2007. Earnings per share (EPS) stood at SAR1.3 ($0.35). The net profit for the second quarter inched down to SAR63m (US$16.8m) from SAR63.5m (US$16.9m). The slight decline was attributed to the maintenance works that were carried out at one of the company’s plan... |
Mexico’s Cemex takes 87.84% of Rinker06 July 2007, Published under Cement NewsCemex has acquired 87.84 per cent of Rinker Group’s shares by the close of trade on Thursday. Cemex needs 90 per cent of Rinker for a compulsory acquisition, meaning it will automatically acquire the remaining 10 per cent of Rinker’s shares. Cemex is offering $US15.85 ($A18.55) for each Rinker share and won over key shareholder Perpetual Ltd in May. |
Holcim extends offer to St Lawrence shareholders05 July 2007, Published under Cement NewsHolcim said on Thursday it had extended the expiry date of its offer to minority shareholders of Canada’s St. Lawrence Cement Group. Holcim said the offer, which was due to expire on Wednesday, was now open until 1700 (Montreal time) on July 16, 2007 and would give shareholders more time to tender their shares. In May, Holcim said St Lawrence had recommended an improved C$40.25 per share cash offer worth a total of C$630m ($595.5m). Holcim already owns 44 per cent of class A s... |
Pakistan’s Lucky Cement to issue GDRs04 July 2007, Published under Cement NewsLucky Cement said on Tuesday it plans to issue global depositary receipts (GDRs) to raise funds for its expansion plans. Lucky Cement plans to raise its cement manufacturing capacity by 2.5Mta by building two additional lines in Karachi, it said in a statement to the Karachi Stock Exchange. It did not give details about the size and timing of the planned GDR issue. Analysts said once the expansion is complete, Lucky would be in a better position to tap the international cement... |
Binani Cement earnings at Rs 506.7m04 July 2007, Published under Cement NewsKolkata-based cement maker Binani Cement posted net profits of Rs 506.7m on sales of Rs 1,956.2m for the quarter ended June 2007. Total income for the quarter stood at Rs 1,974.1 million, while EPS stood at Rs 2.49. The company had entered the capital markets in May 2007 with an initial public offering (IPO) of 20.5 million shares in the price band of Rs 75 to Rs 85 a share. Binani Cement mainly operates in states of Gujarat... |
Indian cement makers plan cost-efficient steps03 July 2007, Published under Cement NewsApprehensive of any further intervention by the government, the Indian cement sector is taking cost-efficient measures to ensure better profit margins in the coming quarters. Given the fact that any further steep rise in cement prices was unlikely in the near future, experts said that maintaining margins could turn out to be a difficult task. Industry analysts believe that there would be a marginal increase in profit margins, though they warned that the coming quarters may not be that pr... |
Cemex increases Rinker stake to 85.53%03 July 2007, Published under Cement NewsCemex has secured 85.53 per cent of Rinker Group Ltd, just short of the 90 per cent needed to automatically acquire the rest of the company. Cemex, the world’s third biggest cement maker, launched a US$15.85 (A$19.34) a share takeover bid for Rinker last year, valuing the Australian building materials maker at US$14bn. The offer, which was declared unconditional on June 7, was due to expire last month, but was extended by Cemex until July 16. Cemex said today it had gained a ... |
India Larsen & Toubro may sell UltraTech cement stake03 July 2007, Published under Cement NewsIndian engineering and construction company Larsen & Toubro Ltd plans to sell its 11.5% equity stake in UltraTech Cement Ltd a unit of Aditya Birla Group, The Economic Times reported, citing a company official. L&T had sold UltraTech Cement to Aditya Birla Group for INR22bn in 2003, while retaining a 11.5% stake in the company with a four-year lock-in period, the report said. "The lock-in period comes to an end in a month’s time. While we have not given much thought to this, we w... |
Aveng expects FY headline EPS up 100-120 per cent03 July 2007, Published under Cement NewsSouth Africa’s Aveng said on Monday full year headline earnings per share, as well as earnings per share (EPS), was expected to increase as much as 120 per cent. The expected 100-120 per cent increase in headline EPS and EPS excluded the capital profit of ZAR6.4bn (US$910.8m) from the sale of its stake in the local unit of Holcim . Headline EPS is the key profit measure for South African firms and excludes non-trading, capital and certain extraordinary items. Aveng, a construc... |