Cement News tagged under: corporate
Mexico’s Cemex wins acceptances for 41.57 per cent of Australia’s Rinker04 June 2007, Published under Cement NewsCemex SA said it now has won acceptances for 41.57 per cent of Rinker Group Ltd’s issued capital, including shares held under an institutional acceptances facility. The Mexican group, rated the world’s fourth largest cement company, said acceptances have increased from 39.42 pct last week. Acceptances from ordinary shareholders have risen to 29.19 per cent from 28.15 per cent while acceptances under an institutional acceptance facility, which allows institutional investors to withd... |
Eurocement Group Ukraine ends 2006 with profits of UAH 98m04 June 2007, Published under Cement NewsThe Kyiv-based Eurocement Group Ukraine company, which is a subsidiary of the Russian largest holding for cement production Moscow-based Eurocement Holding, ended 2006 with net profits of UAH 98.077m. This reads the financial report of the company, a copy of which was made available to Ukrainian News. In 2006 the company increased its net revenues by factor of 2.4 or UAH 162.208m to UAH 278.736m compared to 2005. In 2006 the company’s sales volumes increased by 17.5% or 0.472... |
Readymix says has held talks on selling part of concrete products operations04 June 2007, Published under Cement NewsIrish cement maker Readymix PLC said it has been in talks with a potential buyer regarding selling a part of its concrete products division. It said there can be no certainty any agreement will be made as a result of the negotiations. |
Lafarge Cement to pay out Kc252.6m in dividends this year04 June 2007, Published under Cement NewsCzech cement maker Lafarge Cement will pay its shareholders Kc252.6m in dividends, or Kc221 per a share, based on a decision made at today’s annual general meeting. Lafarge made after-tax profit worth Kc262.3m last year after Kc251.3m in 2005, a growth of 4 percent on the year. It will transfer the rest of the profit to the reserve fund. Lafarge put out around 400,000t of cement last year, chief executive Ivan Mares has said. Of this amount, the company exported about 250,000t to Germany. ... |
Cemex increases stake in Australia’s Rinker to 39.42%01 June 2007, Published under Cement NewsCemex SA said it has increased its stake in Rinker Group Ltd to 39.42 per cent from 37.39 per cent via its US$14bn offer for the Australian construction materials group, edging closer the 50 per cent minimum acceptance level. Cemex yesterday announced it would extend the deadline for its US$15.85 a share offer to June 22 from June 8. It also lowered is minimum acceptance condition to 50 per cent from 90 per cent previously. Rinker’s board recommended the offer, which was revi... |
Vicat to increase floating capital01 June 2007, Published under Cement NewsVicat, France’s third largest cement maker, is to increase its floating capital from 5.1 to 28.1 per cent (or 30.4 per cent if the greenshoe option is fully exercised). The move follows the decision by German counterpart HeidelbergCement to sell its 35.03 per cent stake in Vicat for around 1.6bn euros. The company itself and the controlling Merceron-Vicat family holdings will buy a maximum of 12 per cent, while the remaining 23.03 per cent will go public. The definitive sale price will ... |
Cemex acquires 37% of Rinker shares31 May 2007, Published under Cement NewsCemex now has 37.79 per cent of Rinker Ltd shares after extending the deadline for its US$14bn (A$17.03bn) takeover for the Australian building materials group by a fortnight. Cemex previously had a 36.74 per cent share of Rinker’s stock, and for the offer to become unconditional it needs 50 per cent, a level it lowered from an initial 90 per cent. The company extended the deadline on the bid, which has the recommendation of the Rinker board, to June 22 from June 8 yesterday. In a major ... |
Birla Corp FY07 net up 160%, India31 May 2007, Published under Cement NewsBirla Corporation, the M P Birla group flagship, has registered a net profit of Rs 326.23 crore for the year ended March 31, 2007, an increase of 159.40 per cent. The company achieved its highest turnover of Rs 1,794.51 crore, up 25.19 per cent. Earnings per share was at Rs 42.36. The company has declared a dividend of 35 per cent for 2006-07. Rajendra Singh Lodha, chairman, attributed the performance to increased share of blended cement in the overall sale of cement, better realisation... |
Orascom Construction posts 54 per cent Q1 profit growth, Egypt31 May 2007, Published under Cement NewsOrascom Construction Industries reported a 53.5 per cent rise in its first-quarter net profit to US$140.3m on Thursday, helped by growth in demand for cement and construction services. Revenue rose 46 per cent to $835.6m and EBITDA climbed 42 per cent to US$230.1m. The company’s construction group won new contracts worth US$1bn in the quarter, more than three times the amount it won in the same period of 2006, Chief Executive Nassef Sawiris said in a statement. Sales by the com... |
Siam Cement Group reports 1Q07 operating results31 May 2007, Published under Cement NewsThe Siam Cement Group, Thailand announced operating performance for the first quarter of fiscal 2007 decreased from the previous year, noting that the chemicals business was still doing well. The group pursued its cost efficiency and asset optimisation policy during a period of economic slowdown. Kan Trakulhoon, President of The Siam Cement Public Co Ltd (SCC), disclosed the unreviewed consolidated financial statements for SCC and its subsidiaries for the first quarter of fiscal year 2007 wh... |