Cement News tagged under: corporate
Pretoria Portland cement proposes share split27 March 2007, Published under Cement NewsPretoria Portland Cement Co said it will propose to its shareholders that each of its shares of 1.00 rand be subdivided into 10 shares with a par value of ZAR0.10 each. The announcements follows a statement from Barloworld Ltd that it is in an advanced stage of preparing for the unbundling of its strategic shareholding in PPC. It is anticipated that the unbundling will, subject to all regulatory requirements being satisfied, be completed by the end of June. PPC said that it is antic... |
Monarch Cement Co - Nine Year high in EBITDA for Monarch Cement26 March 2007, Published under Cement NewsThe Monarch Cement Company (OTC:MCEM) for its twelve months ended December 31, 2006 was $30,989,138, a 25% increase over the year earlier same 12 months when Monarch Cement generated $24,711,528 in EBITDA. EBITDA for the most recent 12 months also reached a nine year high.For Monarch Cement’s quarter ended December 31, 2006 EBITDA was $6,422,031, compared with $5,735,824, a 12% increase over the comparable year earlier quarter. Monarch Cement has generated eight consecutive quarters of posit... |
HeidelbergCement to pay out 1.25 euros per share23 March 2007, Published under Cement NewsHeidelbergCement, the German cement product manufacturer, is to increase its dividend for 2006 from 1.15 euros to 1.25 euros. On average, analysts had expected a dividend of 1.39 euros per share. The company has already announced a record net profit of around 1bn euros for the year under review, more than double the figure generated in 2005. According to a company source, the sum to be paid out will be increased from 132m euros to 144m euros in a year-on-year comparison. Results are due... |
Turkish Adana Cimento plans US$61m dividend for 200622 March 2007, Published under Cement NewsTurkish cement company Adana Cimento said it would propose its shareholders to vote on the payment of a dividend of TRL85.4m (US$61m) for 2006. The company closed last year with a net profit of TRL133.2m (US$95.1m) and sales of TRL250.8m (US$179m). Adana Cimento will pay a total dividend of TRL46.14m (US$33.02m) on A type shares, TRL30.76m (US$22.01m) on B type shares and 8.54 mln on C type shares. |
Taiheiyo Cement: to book Y2.2b special loss from land sale22 March 2007, Published under Cement NewsTaiheiyo Cement Corp said Thursday it will book a special loss of Y2.2bn from the sale of land in eastern Tokyo for this fiscal year ending March 31. The Tokyo-based cement maker also said it also expects to post a Y4.4bn asset valuation loss. The financial impact of the land sale and the asset valuation loss on its group earnings hasn’t been determined yet, the company said in a statement. |
China Jiangxi Wannianqing Cement to issue up to 70m A-shares to parent21 March 2007, Published under Cement NewsWannianqing Cement Co Ltd said it plans to issue up to 70m additional A-shares to its parent, Jiangxi Cement Co Ltd, and other institutional investors via private placement. The parent will inject its mining rights in the Eling limestone mine into the listed company in exchange for acquiring at least 15m new shares to be issued, according to a statement filed to the Shanghai Stock Exchange. The other investors will buy up to 55m new shares with cash, the company said. The company said it has... |
Turkish News in Brief-Mardin Cimento, Bolu Cimento, Aksa20 March 2007, Published under Cement NewsTurkish cement company Mardin Cimento said on March 20, 2007 that its net profit increased by 36.7 per cent YoY to TRL89.067m (US$63.85m) in 2006. The company’s sales rose by 20 per cent to TRL143.9m (US$103.15m) last year. Mardin Cimento is part of the local conglomerate Oyak. Turkish cement producer Bolu Cimento, also owned by Oyak, said its profit increased by 6.5 per cent on the year to TRL6.153m (US$4.41m) in 2006. Bolu Cimento will propose for shareholders’ approval... |
TPIPL to refinance B10bn in debt20 March 2007, Published under Cement NewsTPI Polene, the country’s third largest cement producer, plans to refinance debt of 10.12 billion baht before exiting its rehabilitation plan later this year, according to senior vice-president Prasert Ittimakin. Mr Prasert said the company would refinance foreign-currency loans to local debt through a syndicated loan with four or five domestic banks. "After our refinancing plan has finished, the company will exit from the rehabilitation plan, and we hope we can make the first divi... |
TPI Polene sees 2007 revenues up five per cent19 March 2007, Published under Cement NewsTPI Polene, Thailand’s third largest cement firm, said on Monday it expected its 2007 revenues to rise up to five per cent as cement demand would pick up in the second half. The firm, which had 2006 revenues of THB26.3bn (US$755m), has a production capacity of 9Mt and trails Siam Cement and Siam City Cement, a 32 per cent owned unit of Swiss cement firm Holcim . Cement consumption would rise up to five per cent this year as lower interest rates helped revive property demand and the ... |
Fate of India’s Cement Makers Isn’t Set in Stone19 March 2007, Published under Cement NewsShares of Indian cement companies have declined amid concerns about increased government intervention in the industry. While analysts and investment managers don’t expect a quick recovery, some say it is time for selective bargain hunting. Cement stocks had been riding high on the Bombay Stock Exchange for more than a year as Indian developers and construction businesses gobbled up supplies to build a spate of shopping malls, roads and residential complexes. While cement companies operated ... |