Cement News tagged under: corporate
Egyptian cement producers see net profits fall30 March 2007, Published under Cement NewsEgypt’s Suez Cement, majority owned by Italy’s Italcementi, reported a 24 per cent drop in 2006 net profit on Thursday to 799 million Egyptian pounds (US$140 million), the stock exchange said. It said net profit for 2005 was 1.045bn pounds, but gave no other details. Shares in Suez Cement closed 0.7 per cent lower at 62.51 pounds. Torah Cement, itself a subsidiary of Suez Cement posted a 70 per cent drop in 2006 net profit to 231 million Egyptian pounds (US$40.6 million) on Thursday,... |
Buzzi Unicem FY net rises to €349.8m, beats estimates30 March 2007, Published under Cement NewsBuzzi Unicem SpA said its full-year net profit rose to 349.8 mln eur from 255.6 mln in 2005, beating market expectations, underpinned by higher sales and improved profitability in the US, Central and Eastern Europe, Mexico and Italy. Thomson First Call’s consensus forecast was for a net profit of 313.2 mln eur. Sales rose 8.6 pct to 3.205 bln eur, gross operating profit rose to 931.1 mln from 800.8 mln, and pretax profit rose to 658.7 mln from 412.8, it said. Buzzi said results i... |
ACC plans major investment29 March 2007, Published under Cement NewsACC will pump in around US$100m in three years to push its annual cement production capacity to 27.5Mt. This will be an increase of over 38 per cent over the company’s current capacity of 19.9Mt The capital expenditure will be between 2007 and 2009. This includes plants in New Wadi in Karnataka and Bargarh in Orissa. The company already has completed the expansion and modernisation of its Lakheri plant in Rajasthan this year. “The three years capex plan is of Rs 4,000 crore. The ... |
Alas Intl to invest in Bosnian Cement Plant29 March 2007, Published under Cement NewsAlas International, a subsidiary of Austrian building materials producer Asamer Holding, plans to invest 40 million euro ($53.3 million) in the upgrade of its Bosnian cement plant Lukavac by 2009, Bosnian media reported on Wednesday. The investment will secure a new clinker furnace for the plant that will allow a production process complying with all environmental norms of the European Union. Alas International owns 98% of the shares of Fabrika Cementa Lukavac, Investitor.ba said. ... |
Morocco’s Ciments du Maroc’s sales up29 March 2007, Published under Cement NewsCiments du Maroc, one of Morocco’s leading cement companies with 27.3 per cent market share, increased sales by 9.1 per cent last year but higher transport costs stunted its profit growth. Its sales rose to 3.1Mt, 9.1 percent higher than in 2005, worth 2.084 billion dirhams ($249.1 million) versus 1.921 billion dirhams in 2005, according to the company’s figures. Net profit was barely changed at 525 million dirhams last year compared with 524 million in the previous year. The firm bl... |
Hanson Pipe & Precast to Expand Chesapeake Site29 March 2007, Published under Cement NewsHanson Pipe & Precast, a division of Hanson PLC, one of the world’s leading heavy building materials companies, today announced its plans to build a new facility on its Chesapeake, Va. site. The 62,000-square-foot expansion will help Hanson meet growing demands for infrastructure products in the area, which Hanson currently serves out of seven facilities in the state. The $16.9 million expansion will be a state-of-the-art, fully automated facility expected to open in December 2007. Sever... |
Mitsubishi Materials sees higher growth29 March 2007, Published under Cement NewsMitsubishi Materials Corp has set a group net profit target of Y53 billion in the fiscal year ending March 2010 under its three-year business plan. The Tokyo-based maker of nonferrous metals and electronic parts said it is also aiming for a group operating profit of Y85 billion and sales of Y1.410 trillion in the year to March 2010. Under the new business plan, which focuses on strengthening its core copper, cement and electronics parts making business, Mitsubishi Materials said it aims ... |
Orascom Construction 2006 net rises 59 per cent28 March 2007, Published under Cement NewsEgypt’s Orascom Construction Industries said on Wednesday its net income rose 59 per cent in 2006 to $464.5m. The company said revenues rose to $2.87bn from $1.95bn a year earlier. Earnings before interest, tax, depreciation and amortisation rose to $778.9m from $461.3m in 2005. "Orascom Construction Industries has had another excellent year propelled by strong demand for both our cement products and construction services," Chief Executive Officer Nassef Sawiris said in a statement. ... |
Tanzania Portland’s profits go up by 25 per cent28 March 2007, Published under Cement NewsTanzania Portland Cement Company’s revenue went up by 16 per cent last year, while the net profit increased by 25 per cent. Total revenue was Tsh80.2 billion (US$76.3m), up from last year’s Tsh69bn ($65.7m), while net profit was Tsh19.5 billion (US$18.6m), up from Tsh15.6 billion ($14.9 million) in 2005. A Tsh28 ($0.03) dividend for every share held has been proposed. The company went public last year. Company secretary Elieneza Amon said last week that the company succes... |
TCL 2006 profits slip 1.3% to US$24m28 March 2007, Published under Cement NewsTrinidad & Tobago’s Trinidad Cement Limited (TCL) has reported its 2006 net profits fell 1.3% to TT$152m (US$24.3m). TCL’s 2006 revenues actually increased to TT$1.72bn - the company’s record high and 20% up on the TT$1.43bn recorded in 2005, according to a company statement. Also, operating profits were up 44% to TT$265mn, while the company’s cement volume sales rose by 120,000t or 6%, concrete sales rose by 11,300t (4%) and packaging sales by 5.2mn sacks (5%). However, ceme... |