Cement News tagged under: corporate
Buzzi Unicem benefits from mild winter14 May 2007, Published under Cement NewsThanks to a mild winter in Europe and higher cement prices in all countries except for Italy, the Czech Republic and Mexico, where prices were stable, Buzzi Unicem’s first quarter turnover increased by 9.3% to EUR696.3m. Cement shipments were ahead in all countries except for the United States and increased by 13.0% to 7.1m tonnes at the group level, while ready-mixed concrete deliveries were 9.6% higher at 3.6m m³. The EBITDA improved by 9.2% to €130.7m, with the trading profit (EBIT) adv... |
Heidelberg lines up banks for possible Hanson takeover11 May 2007, Published under Cement NewsHeidelbergCement has lined up the Royal Bank of Scotland and Deutsche Bank as debt providers ahead of a possible takeover bid for Hanson, the world’s biggest supplier of sand and gravel which is valued at about Pounds 7.3bn. HeidelbergCement said last week that it was reviewing its options for Hanson, including a takeover. The two groups have had informal talks with Hanson, but no formal offer has yet been made. However Bernd Scheifele, chief executive of HeidelbergCement, yesterday ... |
Holcim Romania 2006 gross profit up 41%11 May 2007, Published under Cement NewsThe Romanian unit of Holcim reported a 41 per cent annual increase in gross profit in 2006 to 207 mln Romanian lei ($85.39m). The company’s turnover rose almost 30 per cent on the year to 774.7m lei (US$319.6m) last year. Holcim Romania invested some EUR57m (US$77.1 mln) in 2006 in production technology, as well as in environment protection, development, labour security, social and human resources projects. The company said it plans to modernise production lines this year as w... |
Kieran McGowan succeeds Pat Molloy as Chairman of CRH10 May 2007, Published under Cement NewsOn 22 February 2007, the Board of CRH plc announced the planned retirement of its Chairman Mr. Pat Molloy following the May 2007 Annual General Meeting of the Company, and the appointment of Mr. Kieran McGowan as Chairman Designate to succeed Mr. Molloy. Following yesterday’s Annual General Meeting, Mr. Molloy has retired and Mr. McGowan has taken over as Chairman. Mr. Molloy became Chairman in May 2000 having been a Board member since 1997. |
China’s Anhui Conch 2007 profit seen at CNY2.3bn10 May 2007, Published under Cement NewsAnhui Conch Cement Co Ltd is expected to post a net profit of about 2.3 bln yuan this year following strong results in the first quarter to March and firmer cement prices, Deutsche Bank said. The investment house’s full-year forecast is 42 per cent ahead of the CNY1.6bn net profit guidance given by Anhui Conch for 2007. The cement maker said it expects to record CNY1.6bn in net profit following its purchase of certain cement assets from the parent company, which will be paid with the issue... |
Egypt’s Misr Cement Qena Q1 net profit up nine per cent10 May 2007, Published under Cement NewsEgypt’s Misr Cement Qena reported a nine per cent rise in net profit in the three months to the end of March, the stock exchange said on Wednesday. The exchange said in a statement net profit was E£69.5m ($12.2m), compared with E£63.7m in the same period of 2006. No further details were given in the statement. In March, ASEC Cement, a subsidiary of Egypt-based Citadel Capital, bought a 9.9 per cent state in Misr Cement Qena for about E£240m. |
Adelaide Brighton looks to lime to boost growth10 May 2007, Published under Cement NewsCement, lime and concrete producer Adelaide Brighton Ltd believes sustained demand for cement and increased lime volumes will underpin its performance in 2007. Lime will be the key growth market for the company, with demand being driven by the continuing resources boom in Western Australia, managing director Mark Chellew said. The company has forecast a 320,000t increase in lime demand in WA, the Northern Territory and South Australia over the next five years. Addressing the c... |
Holcim raises stake in ACC09 May 2007, Published under Cement NewsHolcim has raised its stake in India’s top cement manufacturer ACC Ltd by three per cent to nearly 42 per cent by buying shares from the open market for over Rs 6.40bn (US$157.4m). The Swiss firm bought 716,000 shares for a total of Rs 6.42bn in block deals, according to data available with National Stock Exchange. Ambuja Cement India, in which Holcim controls a majority stake, bought 1.016m shares at Rs 889.23 apiece and 6.142m shares at Rs 898.3 per share. At the selling-end... |
HeidelbergCement Q1 net rises to EUR119m on growth in Europe09 May 2007, Published under Cement NewsHeidelbergCement AG said first-quarter net profit rose to EUR119m from EUR37m in the same period last year as business improved significantly in Europe and Central Asia, thanks to the mild winter. Operating income climbed to EUR159m from EUR64m. Sales rose to EUR2.060bn from EUR1.744bn, with significant contributions from Eastern Europe, Norway, Germany and Turkey offsetting declines in the North American market, the company said in a press release. Overall, the highest growth... |
Anhui Conch eyes lift from acquisitions09 May 2007, Published under Cement NewsShares of Anhui Conch Cement, the mainland’s largest maker of the building material, surged 12.79 per cent yesterday after it said its recently approved acquisitions would boost profit eight per cent. The stock rose HK$3.80 to close at HK$35.30, its biggest gain in five months, as trading resumed following its suspension on April 30. The company during the suspension said profits should increase to CNY1.6bn this year from CNY1.48bn last year with contributions from assets to be acq... |