Cement News tagged under: corporate
CIMA surge draws query09 February 2007, Published under Cement NewsShares of Cement Industries of Malaysia Bhd (CIMA) rose 26 per cent, or RM1.30, yesterday, prompting a query from Bursa Malaysia. The stock closed at RM6.30, a 10-year high, with 4.89 million shares changing hands. In a reply to the stock exchange’s query, the company said it was not aware of any corporate development, rumour or report or any other possible explanation for the unusual market activity. |
Cemex offloads bonds to cement Rinker bid08 February 2007, Published under Cement NewsCemex has sold off US$750m ($965m) worth of hybrid bonds to clean up its balance sheet in preparation for its hostile US$12.8bn takeover of building materials group, Rinker. Cemex, which launched its US $ 13 ($16.74) a share offer last October, has been rebuffed by Rinker, which said the bid was unfair and unreasonable. Rinker’s chief executive David Clarke said the offer was "far too low" - well below the independent expert’s valuation of the company, which was between $20.58 and $23.04... |
Boral H1 profit drops 15 per cent, sees housing recovery in 0807 February 2007, Published under Cement NewsBoral Ltd has reported a dip in first half profit and stuck to its forecast for lower annual earnings, but the brick, tile and concrete maker has forecast a recovery in its two key markets in 2008. The recovery in the New South Wales and United States housing markets will be gradual and, in NSW, will not peak until 2010 or 2011, chief executive Rod Pearse told journalists today. Falling dwelling commencements in those markets contributed to a 14.6 per cent drop in Boral’s first half ... |
Buzzi Unicem FY sales to rise 6-7 per cent on Dyckerhoff’s, Mexico ops07 February 2007, Published under Cement NewsBuzzi Unicem SpA full-year sales, due to be released Thursday, are seen rising by 6-7 per cent from 2005, thanks to solid results at its Dyckerhoff AG subsidiary, particularly in Eastern Europe, and strength at its operations in Mexico, analysts said, adding that growth in Italy should remain limited. Sales at the Italian cement group are expected to rise to EUR 3.148bn from the EUR2.951bn it booked a year earlier, according to consensus estimates of 13 brokers polled by First Call. ... |
Oman Cement Co 2006 net profit reaches US$54m06 February 2007, Published under Cement NewsOman Cement Co (OCC) reported an unaudited net profit of OMR20.7m (US$54m) for 2006, up from OMR18.1m (US$47m) in 2005, according to OCC statement to Muscat Securities Market (MSM). OCC pre-tax profit amounted to OMR23.5m (US$61m), up from OMR20.6m (US$53.4m). The company’s sales totalled OMR49.5m (US$128.4m), an increase from OMR44m (US$114m). |
Fujairah Cement net profit rises US$41m 200606 February 2007, Published under Cement NewsThe UAE Fujairah Cement Industries Co said its net profit rose to AED150m (US$41m) in 2006 from the AED137.3m (US$37.4m) it generated in the previous year. The company’s net operating profit increased to AED140m (US$38m) from AED133m (US$36.2m) and total revenue climbed to AED388m (US$106m) from AED351m (US$96m), the company said in a statement to the Abu Dhabi Securities Market (ADSM). |
St. Lawrence Cement sees future as rosy, and green05 February 2007, Published under Cement NewsSt Lawrence Cement Group has come off its most profitable year anticipating strong results in 2007 despite declining housing market. "We see construction activity remaining near the strong levels of recent years despite the softness in residential housing," CEO Philippe Arto said yesterday after the company reported its most profitable year ever, despite a lower fourth quarter. Non-residential and infrastructure construction that uses a lot of cement is expected to gain momentum despite dec... |
New Director General of Garadagh Cement appointed05 February 2007, Published under Cement NewsFrom February 1, 2007 the post of Director General of Garadagh Cement JSC transferred to Horia Adrian who replaced Uve Kohler. Beginning his career at Holcim in 2000 as Project and Business Development Manager, Horia Adrian successfully prepared the strategy of access to the market of ready-mixed concrete in Romania in 2002. From 2004 Adriana, as Marketing and Sales Director, applied new conception of logistics and high-effective marketing plan. Owned by Holcim Group, presently Garad... |
GACL net trebles05 February 2007, Published under Cement NewsMumbai-based cement maker Gujarat Ambuja Cements (GACL) said its October-December quarter net profit trebled to Rs 338 crore due to gains from a merger and higher cement prices. The revenue in the same period surged 72% to Rs 1,329 crore. GACL merged Ambuja Cement Eastern with itself with effect from January 1, 2006. GACL said its board has also proposed a change in the company’s name to Ambuja Cements, subject to approvals. The profit before tax (PBT) totalled Rs 458 crore, an improvement ... |
Buzzi Takeover Bid for German Dyckerhoff fails05 February 2007, Published under Cement NewsThe takeover bid of Italian cement and concrete maker Buzzi Unicem S.p.A. for German building material maker Dyckerhoff AG failed as the Italians managed to acquire only 88.37 per cent of the shares in the German company, Dyckerhoff said on February 2, 2007. The stake in the hands of Buzzi is under the legal requirement of 95 per cent, which could allow the Italian company to launch a squeeze-out procedure. Buzzi could make a new takeover bid in a year period at the earliest. In early Dece... |