Cement News tagged under: corporate
Steppe Cement appoints Rodzianko as Non-Executive Director11 April 2007, Published under Cement NewsSteppe Cement Limited confirmed Wednesday the appointment of Paul Rodzianko to its board of directors with immediate effect as a non-executive director. Rodzianko is a New York based businessman with a diverse range of international experience, including executive positions in energy and other companies in Kazakhstan, Sweden, Ukraine, Russia and the United States. He is currently the Managing Director of International of GreenFuel Technologies Corporation, a senior advisor to Access Indust... |
Saudi Yanbu Cement Q1 profit up, beats forecast10 April 2007, Published under Cement NewsYanbu Cement Co, Saudi Arabia’s fourth-largest cement maker by market value, posted a 25 per cent rise in first-quarter net profits, beating an analyst’s forecast. The company made SAR151.6m (US$40.4m) in the three months to March 31, up from SAR121.2m in the same period in 2006, Yanbu said in a statement on the bourse website. The earnings were higher than the SAR133.40m profit forecast of Kuwait-based investment bank Global Investment House in a Reuters survey last month. Y... |
Dangote Promises big leap for BCC Shareholders10 April 2007, Published under Cement NewsChairman of Benue Cement Plc, Alhaji Aliko Dangote has promised shareholders of the company that it will declare better returns soon, given the favourable conditions in the cement industry. He spoke Tuesday at the company’s annual general meeting in Lagos. Premising his optimism on the 70 per cent supply gap in the sector for local producers to fill, he said the cement sub-sector had gained a very significant victory with the federal government’s ban on cement importation, and with the 70per... |
Yamama Cement OKs Cash Dividend05 April 2007, Published under Cement NewsThe general shareholders’’ meeting of Saudi cement producer Yamama Cement Company (YCC) approved last March 28 a 20 percent cash dividend for 2006, translating into SR2 ($0.53) per share. YCC posted a net profit of 601.2 million riyals ($161 million) for 2006, an increase from 500.9 million riyals ($133.6 million) a year earlier. YCC, one of the eight listed cement companies operating in Saudi Arabia, was established in 1961 and is based in the Riyadh. |
Cuts not meant to make us reduce prices: Mysore Cements04 April 2007, Published under Cement NewsThe government seems bent on getting its way with cement makers. It has removed import duties, hoping to force cement firms to cut prices. How will this impact domestic manufacturers? Ashish Guha, MD Of Mysore Cements feels that the duty cut will reduce imported cement prices by Rs 30 per bag. He further mentions that Mysore Cements is not looking at cutting prices right away. He expects coastal areas to see a dip in cement prices. According to Guha, the government move has more to do wi... |
Italcementi increases its operations in the field of concrete in North America03 April 2007, Published under Cement NewsThe Italcementi Group continues its strategy of expanding its operations in international markets by strengthening its activities in the field of concrete. By means of two transactions carried out in North America by Essroc, - a wholly owned subsidiary of Ciments Français, which is the Italcementi subholding for international activities - the Italcementi Group increases overall concrete sales, based on 2006 figures, by approximately 4%, and continues its programme of strengthening the... |
Texas Industries Inc - Texas Industries’ cash flow from operations hits seven year high03 April 2007, Published under Cement NewsCash flow from operations for Texas Industries Inc for its quarter ended February 28, 2007 was US$15,133,000, a 223% increase over the year earlier same quarter when Texas Industries generated US$4,688,000 in Cash Flow from Operations. Texas Industries has generated eight consecutive quarters of positive Cash Flow from Operations. Cash Flow from operations for the most recent quarter also reached a seven year high. For Texas Industries’ 12 months ended February 28, 2007 Cash Flow from O... |
Greece’s Titan Cement US unit acquires Cumberland Quarry for US$36m03 April 2007, Published under Cement NewsGreek Titan Cements US unit Titan America said that it completed the acquisition of the Cumberland Quarry, which produces limestone in Salem, Kentucky, from Cumberland River Resources for US$36m. Titan America said that the operating quarry has more than 1bnt of reserves. The CEO of Titan America, Aris Papadopoulos said that ’this quarry contains significant reserves of high-quality limestone that can be barged along the Mississippi River.’ ’It has the potential for increased product... |
Birla group plans to rejig cement brand to increase market share02 April 2007, Published under Cement NewsThe Aditya Birla Group, India’s second largest cement maker, is learnt to be realigning its brands portfolio to increaes its market share. Grasim Industries, the group’s cement company, is in the process of identifying brands that can be strengthened while some brands can be phased out, said sources. Grasim and its subsidiaries Ultra Tech and Shree Digvijay Cement have a combined production capacity of 31Mta, marginally lower than the Holcim-ACC-Gujarat Ambuja combine, the largest ce... |
Indonesia’s Semen Gresik posts 30 per cent rise in net profit02 April 2007, Published under Cement NewsState-owned cement maker PT Semen Gresik reported a 30 per cent increase in net profit to Rp1,353bn (US$153m) this year, from Rp1,023bn in the previous year. The country’s largest cement producer performed well last year, when demand for cement in the country grew sluggishly by only 1.6 per cent. Earlier, its President Dwi Soetjipto said that this year, the publicly-listed company was expected to chalk up a 40 per cent increase in income from Rp8trn, up from Rp7.8trn in the previous ... |