Cement News tagged under: corporate
Taiwan Cement to Inject more in Mainland China reinvestments24 November 2006, Published under Cement NewsThe Investment Commission under the Ministry of Economic Affairs (MOEA) approved Taiwan Cement Corp to invest US$33.2m in the mainland China on cement plant located at Yingde of Guangdong province. Taiwan Cement said the funds will be used to construct two set of kilns in the plant. The kilns will be formally commercial run next year. By then, the production capacities in Yingde cement plant will reach 8Mt. The company predicted the production capacities of the plant will reach 22Mt by t... |
Egypt’s Amreya Cement 9-mth profit jumps 56 per cent24 November 2006, Published under Cement NewsEgypt’s Amreya Cement reported net profit of E£201.8m (EUR35.3m) for the first nine months of 2006, a 56 per cent increase, the stock exchange said on Thursday. It reported net profit of E£129.3m pounds in the same January-September period in 2005. |
Lafarge to guarantee Lafarge North America’s US$400m of outstanding debt securities23 November 2006, Published under Cement NewsLafarge announces that it is providing an unconditional guarantee on all outstanding bonds issued by its subsidiary Lafarge North America Inc. under an Indenture for debt securities dated October 1, 1989 (as amended) with Citibank NA as Trustee. Following the acquisition in May 2006 of all the shares of Lafarge North America by Lafarge, the Board of Directors of Lafarge has decided to provide its unconditional guarantee on the outstanding debt securities of Lafarge North America. Lafarge N... |
Chia Hsin eager to cement place in Top-1023 November 2006, Published under Cement NewsHong Kong-listed Chia Hsin Cement Greater China seeks to boost its annual production capacity to about 10Mt in a couple of years and to 30Mt by 2016. "Our aim is to become one of the top 10 cement producers in China in about 10 years, with our production capacity reaching 30Mt," Chia Hsin Cement CEO Jason Chang said recently. The company’s wholly owned subsidiary Jingyang’s output capacity will double from 4Mt after its second production line starts functioning, he said. "Our new... |
HeidelbergCement’s Merckle raises stake23 November 2006, Published under Cement NewsAdolf Merckle, a member of Heidelberg Cement AG’s supervisory board, has increased his stake in the company but it’s unclear if this will reduce the company’s free float, which would put a question mark over its listing on Germany’s MDAX index of medium-capitalization companies. VEM Vermoegensverwaltung GmbH, a company controlled by Merckle, increased its stake to 11.09%, Heidelberg Cement said in a financial notice published in Boersen Zeitung Wednesday. The company previously held ... |
Cementos Portland sees 2007 revs at EUR1.8bn23 November 2006, Published under Cement NewsSpanish cement group Cementos Portland Valderrivas (CPV) expects to make turnover of more than EUR1.8bn in 2007, double the sales it achieved in 2005, thanks to acquisitions, the company said. CPV said its Chairman Jose Ignacio Martinez Ynzenga had told a shareholders meeting that EBITDA should come in at EUR600m next year, up from EUR312m in 2005. CPV, 67 per cent owned by construction company FCC , has recently bought 51 per cent of Catalan cement firm Uniland for EUR1.1bn and has a put ... |
Lafarge Malayan Cement returns to profit23 November 2006, Published under Cement NewsLafarge Malayan has recorded a nine-month pre-tax profit of RM138.688m (US$38m) against a loss of RM26.237m a year ago as it benefits from firmer domestic and higher export prices. Domestic cement prices have recovered from the low level during the intense price war in the first half of 2005, it said in a filing to Bursa Malaysia on Nov 22. The company however noted that higher domestic cement prices were offset by higher logistic costs, higher electricity tariff effective from 1 June 20... |
Monarch Cement’s EBITDA Hits Nine Year High22 November 2006, Published under Cement NewsMonarch Cement Company for its 12 months ended September 30, 2006 was $30,302,931, a 60% increase over the year earlier same 12 months when Monarch Cement generated $18,968,939 in EBITDA. EBITDA for the most recent twelve months also reached a nine year high.For Monarch Cement’s quarter ended September 30, 2006 EBITDA was $10,100,183, compared with $10,159,231, a 0.6% decrease over the comparable year earlier quarter. Monarch Cement has generated seven consecutive quarters of positive E... |
Siberian Cement’ to repurchase ’Topkinsky Cement’21 November 2006, Published under Cement NewsThe Kemerovo-based holding ’Siberian Cement’ has repurchased 100% of the shares of ’Topkinsky Cement’ Ltd, as reported yesterday by the Head of the Company’s Legal Support Department Maxim Skorokhodov. ’Topkinsky Cement’ is one of Siberia’s largest cement producers, which posted the output of 2.07Mt in the first 10 months of 2006. Before the deal ’Siberian Cement’ acted as the manager while the holding’s shareholders acted as major shareholders of the limited liability company. |
Profit drops 31% at Egypt’s National Cement in Q120 November 2006, Published under Cement NewsEgypt’s National Cement reported a 31 per cent drop in net profit to E£106m (US$18.5m) for its fiscal first quarter ended September, the stock exchange said on Sunday. Net profit for the same period last year was E£155m, the stock exchange said. Egypt’s HC Securities brokerage recently said that changes put in place in August in Egyptian government pricing regulations could cut into profit margins for Egyptian cement firms. Egypt, to keep local prices from soaring, set a non-binding domest... |