Cement News tagged under: corporate
Australian Rinker is named as defendant03 May 2007, Published under Cement NewsThe US Department of Justice filed an amended complaint today in the District Court in Washington, DC, naming concrete maker Australian Rinker Group Limited as a defendant in the Department’s antitrust lawsuit against Mexican cement producer Cemex. The Department filed the amended complaint to make Rinker a party to the lawsuit since the Rinker Board of Directors approved Cemex’s cash tender offer for the company for US$15.3 billion. Along with its amended complaint, the Department today... |
Semen Gresik lLikely to issue US$300 million bonds02 May 2007, Published under Cement NewsPT Semen Gresik is likely to issue US$200 million - US$300 million bonds to finance the company’s capital expenditure on the development of new cement facility. The company will issue the bonds after organizing AGM next month on internal restructuring. "The bonds issuance will be in third quarter, and JP Morgan Securities will become the underwriter," some brokers of a bank knowing the plan told Bisnis Indonesia yesterday. But the Vice President of Semen Gresik Rudiantara said th... |
St Lawrence Cement Group Inc - First Quarter Results02 May 2007, Published under Cement NewsSt. Lawrence Cement Group Inc. (the "Company") reported sales of $151.8 million for the first quarter ended March 31, 2007, compared to $178.1 million for the same period last year, a decrease of 14.8%. The lower sales reflect lower sales volumes of construction materials and lower construction services revenues as a result of unfavourable weather conditions in our markets compared to the first quarter of 2006. The lower sales volumes were partly offset by increased selling prices for constr... |
Eagle Materials posts record profits in a weakening environment02 May 2007, Published under Cement NewsIn its financial year to the end of March, Eagle Materials increased its consolidated turnover by 7.3 per cent to US$922.4m and the trading profit before corporate overheads rose by 25.1 per cent to US$330.1m. The net interest charge declined by 14.4 per cent to US$5.4m and the pre-tax was up by 26.2 per cent to US$304.3m. Shareholders’ funds ended the year 17.5 per cent higher at US$546.0m. The turnover from the cement activities increased by 11.9 per cent to US$321.9m in spite of a... |
Indonesia’s Indocement Q1 net profit down01 May 2007, Published under Cement NewsIndonesian cement maker PT Indocement Tunggal Prakarsa Tbk’s first-quarter net profit fell 32 per cent from the previous year because of higher costs and operating expenses. A statement on the company’s Web site ( www.indocement.co.id ) showed the firm, controlled by Germany’s Heidelberg Cement , posted a net profit of 112.5bn rupiah ($12.39 million), down from 164.5bn in the year-ago period. Its sales climbed 3.5 per cent to 1.48 per cent while operating income dropped 21.2 per cent to... |
Colombia’s Cementos Argos 1Q01 May 2007, Published under Cement NewsCementos Argos, Colombia’s largest cement company, said Monday its consolidated net profit in the first quarter fell 55 per cent from the same period a year ago to 18.5 billion Colombian pesos (US$8.7million). The company attributed the net-income decline to a one-time revenue in the first quarter of 2006 from the sale of shares in other companies that Argos had in its investment portfolio, Pablo Arroyabe, the company’s spokesman, told Dow Jones Newswires. The company’s consolidated... |
Indonesia Semen Gresik 1Q01 May 2007, Published under Cement NewsIndonesia’s largest cement maker PT Semen Gresik said Monday its first-quarter net profit rose 15 per cent on year, helped by an increase in sales. Net profit for the first three months of 2007 rose to IDR329.92bn from IDR287.27bn a year earlier. Sales climbed 7.7 per cednt to IDR2.1trn from IDR1.95trn a year earlier due mostly to an increase in cement prices. Gresik didn’t give any explanation for its first quarter performance. |
Thailand’s Siam Cement 1Q results01 May 2007, Published under Cement NewsCement earnings fell 13 per cent YoY. Domestic cement demand declined by 6 per cent YoY, but increased 7 per cent QoQ. SCC’s cement sales were down 2 per cent YoY due to a 6 per cent drop in domestic volume but a marginal (3 per cent) price increase year on year. However, export volume still rose slightly to 2Mt although the margin is narrower versus domestic sales. The FOB price averaged at US$33.4/t. Management has lowered its target from flat growth to a 5 per cent drop for this year ... |
Anhui Conch 1Q net profit up 36 per cent30 April 2007, Published under Cement NewsChinese cement producer Anhui Conch Cement said Sunday its first-quarter net profit rose 36 per cent from the same period last year on an increase in capacity and stable sales growth. Hong Kong- and Shanghai-listed Anhui Conch said in a statement its net profit rose to 212.59m yuan (US$27.56m) for the three months ended March 31, from CNY156.64m in the year-earlier period, based on Chinese accounting standards. Revenue for the period rose to CNY3.57bn from CNY2.93bn. The company said ear... |
Binani Cement goes public30 April 2007, Published under Cement NewsBinani Cement is entering the capital market with a public offer of 2.05 crore equity shares of Rs 10 each within the price band of Rs 75-85. "The company is launching an IPO of about two crore shares proposing to get listed both on NSE and BSE," Binani Industries Ltd (BIL) chairman Braj Binani said here today. The company, with a current capacity of 2.3Mt of cement, aims to take production to 10-12Mt over the next few years. The IPO will open on May 7 and close for subscription ... |