Cement News tagged under: corporate
Record high for Hanson as investors build on long-term hopes21 February 2007, Published under Cement NewsBuilding materials group Hanson was chased to an all-time high as investors relished the prospect of further consolidation in the sector. News that Vulcan Materials has agreed to buy smaller US aggregates player Florida Rock in a $4.6bn ( pounds 2.4bn) deal spurred the blue-chip company up 23½ to 835p on heavy volumes. Hanson has in the past been rumoured to be a target for Mexican cement company Cemex. As ABN Amro put it: "We think this is excellent for Hanson. It shows that aggrega... |
Holcim raises CHF650m with bond21 February 2007, Published under Cement NewsHolcim Ltd said Tuesday it has raised CHF650m in a bond issue aimed at refinancing existing debt. Holcim Ltd has successfully issued a 10-year, CHF400 million bond with a 3 1/8% coupon in the Swiss Franc domestic market and Holcim Overseas Finance Ltd. a 6-year CHF 250m bond with a 3% coupon in the Swiss Franc international segment. Holcim Ltd is guaranteeing the issue placed by Holcim Overseas Finance Ltd. The proceeds will be used to refinance existing debt by taking advantage of t... |
Siam Cement unit sees sales growing 20% on rising demand21 February 2007, Published under Cement NewsCementhai Logistics Co , the logistics arm of the Siam Cement Group, projects its sales to rise 20% this year from 7.6 billion baht last year. The company aimed to achieve 10 billion baht in revenue next year and 15 billion baht in 2011, according to managing director Bhanumas Srisukh. Driven by the significant growth of logistics services demand in recent years, he said, SCG-CTL’s sales in 2006 had tripled from 2.39 billion baht in 2000. Despite political and economic uncertainty, the co... |
Lafarge Malayan Cement books sharply higher annual profit20 February 2007, Published under Cement NewsThanks to recovery in domestic cement prices, Lafarge Malayan Cement Berhad has booked pre-tax profit of RM212.095m (US$60.7m) for the 12 months ended 31 December 2006, sharply higher than RM29.345m achieved in the previous year. Revenue rose 11.3 per cent to RM2,077.893m from RM1,866.668m previously. Lafarge attributed the improved results to the recovery in domestic cement selling prices from the low level during the intense price war in the first half of 2005, higher export price... |
EA Portland After-Tax Profit Rises to Sh727.6m19 February 2007, Published under Cement NewsCement maker, East African Portland Cement Company (EAPCC), has posted an after tax profit of Sh727.6 million in the six months period ended December 31 last year. This was a 23 per cent improvement on Sh593.7 million recorded in a similar period in 2005. EAPCC’s financial performance during the review period was bolstered by favourable prices and growth in cement sales, it said in the reports released on Friday. Turnover was up from Sh3.1 billion in 2005 to Sh3.4 billion last yea... |
Siam City Cement Mediocre FY07 prospects16 February 2007, Published under Cement NewsThe outlook for the domestic cement industry this year appears uninspiring with a slowdown expected in domestic construction activity, particularly in the real estate sector. One positive driver for SCCC’s profitability will be its capability to shift sales to export markets to compensate for the fall in demand. Overall cement sales volume (both domestic and export) is expected to remain flat for this year. The baht’s appreciation has prompted some local analysts to revise down SCCC’s 2007 e... |
Bamburi posts higher earnings16 February 2007, Published under Cement NewsKeny’s leading cement manufacturing company, Bamburi Cement has announced it earned Shs95 billion in pre-tax profits for the financial year ended December 31, indicating a 22 per cent increase in profitability compared Shs77.5 billion the previous year. The company’s turnover grew by 10 per cent to stand at Sh417.5 billion up from Sh375 billion the previous year. The boost in revenues, was partly spurred by high sales in export markets in the Great Lakes region where a 30 per cent growth... |
Cementir two years ahead of business plan16 February 2007, Published under Cement NewsItalian cement and concrete group Cementir yesterday announced pre-tax profits of 168.9m euros for 2006, an increase of 47 per cent on the previous year. Turnover climbed 23 per cent to 1.05bn euros, the gross operating margin was 34 per cent higher at 247.4m euros, and operating profits leapt 52 per cent to 180.9m euros. These figures reportedly mean that the company has achieved its 2006-2008 business plan objectives two years ahead of schedule, with chairman Francesco Caltagirone ... |
Semen Gresik to Conduct Corporate Restructuring15 February 2007, Published under Cement NewsPT Semen Gresik Tbk has planned to conduct corporate restructuring by establishing holding companies to control some cement units like PT Semen Gresik Tbk, PT Semen Padang, and PT Semen Tonasa. An executive knowing the transaction said there will be two consultants that will help the company in conducting such restructuring. The Vice President Commissioner of Semen Gresik Darjoto Setyawan said that the company has assigned PT JP Morgan Securities Indonesia to become the financial adv... |
Titan Cement FY net to rise 31.7%15 February 2007, Published under Cement NewsTitan Cement is expected to report on Feb 21 a 31.7% rise in full year group net profit to EUR276.8m from a year earlier, on the back of robust sales in Greece, healthy exports and due to its diversified business, analysts said. In a consensus poll taken by Euro2day.gr Newswire of four leading analysts, twelve month group net profits under IFRS is expected to come in at EUR261-282m, from EUR210.1m for 2005. Analyst Kostantinos Zouzoulas of Marfin Analysis-Egnatia Finance said ’2006 ... |