Cement News tagged under: corporate
India Cements Board approves Visaka merger01 March 2007, Published under Cement NewsIndia Cements today said its Board of Directors has decided to merge Visaka Cement Industry, an associate company with itself and has also approved a scheme of amalgamation wherein one equity share would be issued to the shareholders of VCIL for every five equity shares held by them in VCIL. Consequent to the scheme after having received sanction of appropriate authorities, the subscribed and paid-up equity share capital of the India Cements would increase to Rs 260.37 crore, from Rs 220.37 ... |
Frere aiming to raise Lafarge stake01 March 2007, Published under Cement NewsBelgian financier Albert Frere is planning to eventually raise his stake in French cement maker Lafarge to 30 per cent, French magazine Challenges reported in a brief, unsourced article. Challenges said in an article due to be published on Thursday Frere aimed to have 20 percent of Lafarge by the end of 2007 and hoped to raise this to 30 per cent during the next three years. Frere’s holding company Groupe Bruxelles Lambert (GBL) currently has around 16 percent of Lafarge. GBL C... |
India Cements to issue 1 share for 5 held in Visaka28 February 2007, Published under Cement NewsIndia Cements Ltd. said on Wednesday its board approved the merger of its associate, Visaka Cement Industry Ltd., with itself. India Cements will issue one share for every five shares held in Visaka Cement, the company said in statement. |
GCC Reports 2006 Fourth Quarter and Full Year Results27 February 2007, Published under Cement NewsThe record growth in GCC’s results in 2006 reflected the successful integration of acquisitions and solid organic growth derived from higher volumes in most of the regions where GCC operates, as well as a better pricing environment. Net sales in the fourth quarter of 2006 increased 37.4% from the year ago period and totaled $1,902.3 million pesos, as a result of a combination of the following factors: 62.9% growth in international sales, primarily reflecting the integration of acquired ... |
Holcim Q4 net profit seen strong at SwFr414m amid good weather27 February 2007, Published under Cement NewsHolcim is expected to report on Wednesday a strong fourth-quarter net profit of SwFr414m, supported by exceptionally good weather conditions and improved pricing power, analysts said. Analysts polled by AFX News forecast net profit of SwFr 350-468m, or SwFr 414mon average, up from SwFr 365m last year. EBIT is seen reaching SwFr 852m-1.017bn or SwFr 929m on average, up from SwFr 740m while sales are expected to come in at SwFr 5.950-6.257bn, or SwFr 6.128bn on ... |
Lafarge aims to increase cement capacity by 40Mt by 201026 February 2007, Published under Cement NewsExcluding the roofing business, which is being sold, Lafarge increased its turnover last year by 16.7% to EUR16,909m and the EBITDA improved by 19.7% to EUR 3,704m. The running profit at the trading level rose by 23.4% to EUR 2,772m and the pre-tax profit advanced by 23.7% to EUR 2,223m. A more normal tax charge reduced the growth rate in net profit to 11.6%, though lower minorities offset this with the net attributable profit improving by 25.2% to EUR 1,372m. Group cement shi... |
Orascom prepares tender offer for cement producer Baticim26 February 2007, Published under Cement NewsEgypt’s Orascom Construction Industries (OCI) applied to the capital markets board for a voluntary tender offer for A and B class shares of the cement producer Baticim Bati Anadolu Cimento. OCI already owns 13.9m B class shares of Baticim, corresponding to 21.58% of cement producer’s capital. OCI offers TRY 11.5 (USD 8.34) for each TRY 1 nominal valued B class shares and TRY 1.88 for A class shares. A class shares have voting rights and are entitled to receive dividends. The call price corre... |
Oman: Raysut Cement profits more than double in 200626 February 2007, Published under Cement NewsOfficials at Raysut Cement announced that the company’s net profits have more than doubled to $53.6 million in 2006, compared with $26.06m in the previous year, Times of Oman reported. Raysut Cement, on of the Middle East’s largest cement and construction materials maker, exports of more than 50% of its annual production to countries such as Yemen, East African Countries, Kuwait, Qatar and Indian Ocean islands, according to the officials. |
Hanson plays down takeover target rumours23 February 2007, Published under Cement NewsIndustrial group Hanson has played down rumours that it has been made a takeover target. Announcing that full year profits had exceeded market expectations, chief executive Alan Murray said the group had not received any approaches or experienced "significant movements" in its share register. Shares in the company, which supplies sand and gravel for building work, have soared over the past few days after talk of a bid from Mexico’s Cemex, owner of Rugby Cement. Speculation has int... |
Adelaide Brighton hits FY06 record protfit22 February 2007, Published under Cement NewsCement and lime producer Adelaide Brighton Ltd has produced a record full year profit and expects to continue to grow its business this year, despite a patchy housing market. Brighton today announced a record net profit after tax of $102.1m for the full year ending December 31, up 12.3 per cent on the previous corresponding period. Managing director Mark Chellew said the result was driven by sustained demand for cement, improvement in its concrete products business and growth in its ... |