Cement News tagged under: corporate
Alexandria Cement 9-mth net profit down 24 per cent17 November 2006, Published under Cement NewsEgypt’s Alexandria Cement reported a 24 per cent drop in nine-month net profit to E£136m (US$23.8m), the stock exchange said on Thursday. Net profit for the same period in 2005 was E£179.8m, it said. |
Star Cement seals loan deal, UAE17 November 2006, Published under Cement NewsBahrain-based Star Cement, a part of the ETA/Star Group, has signed a $104m term loan facility agreement with a syndicate of banks led by the mandated lead arrangers Abu Dhabi Commercial Bank and the Gulf International Bank. The term loan will be used by the company to establish a 2.15Mta clinker manufacturing plant in Ras Al Khaimah. The other banks include Ahli United Bank, First Gulf Bank, National Bank of Abu Dhabi, British Arab Commercial Bank, United Arab Bank, Ahli Bank of Qatar, ... |
Holcim acquires additional stake in GACL16 November 2006, Published under Cement NewsHolcim has reportedly acquired a 3.7 stake per cent in Indian cement maker Gujarat Ambuja Cements Ltd. to add to its existing 15.6 per cent holding, a source close to the deal said on Thursday. The Swiss cement maker bought about 50m shares from the founders of Gujarat Ambuja at 138.65 rupees a share, valuing the stake at Rp6.93bn ($153.3m), the source said. Holcim could not be immediately reached for comment. A subsequent offer by Holcim to buy 20 per cent from minority shareh... |
Buzzi Unicem improves financial ratios15 November 2006, Published under Cement NewsBuzzi Unicem’s turnover rose by 8.3% to EUR2,378.4m, with margins widening from 26.8% to 28.7% as the EBITDA improved by 15.7% to EUR681.9m. With the exception of the Czech Republic, where prices were stable, pricing moved ahead in all countries and, at the net level, consolidated profits improved by 38.4% to EUR255.0m. At the pre-tax level, the profit actually advanced by 50.7% as net interest payments more than halved from EUR106.5m to EUR48.8m. Net debt at the end of September stood at ... |
Spain’s FCC beats 9-month target, to beat 2006 goal15 November 2006, Published under Cement NewsSpanish construction group FCC posted a 41.8 per cent rise in nine-month profit on Tuesday thanks to a strong order book, acquisitions and faster overseas growth and said it expects to beat previous targets for the year. The company is one of a group of large Spanish construction firms still enjoying a decade-long building boom, evident in a 39 per cent rise in cement sales and 20.8 per cent growth in its core construction business. Spain’s third-biggest builder increased net profits to EU... |
Orascom Construction Industries 3rd Quarter Results14 November 2006, Published under Cement NewsOrascom Construction Industries announced consolidated revenue of EGP 11,942.1m (US$ 2076m) EBITDA of EGP 3,374.5m (US$ 586.6m) and net income of EGP 2015.3m (US$ 350.3m) for the nine months ended 30 September 2006. During the same period last year, OCI reported consolidated revenue of EGP 8,270.3m (US$1416.1m) with EBITDA of EGP 2,027.8m (US$347.2m) and net income of EGP 1274.5m (US$ 218.2m). OCI also reported record consolidated revenue of EGP 4,952.6m(US$ 860.9m) with EBITDA of EG... |
Egypt’s ASEC says 9-month net up 18%14 November 2006, Published under Cement NewsEgypt’s ASEC Cement made net profit of E£291.8m (US$51m) in the first nine months of 2006, 18 per cent up on the same period of 2005, the stock exchange said. ASEC, a subsidiary of Italcementi , made a net profit of E£247.5m in the January-September period of 2005, the stock exchange statement added. |
Buzzi nine month net rises to EUR255m vs EUR184 on lower financial costs14 November 2006, Published under Cement NewsBuzzi Unicem SpA said nine-month net profit rose to EUR255.0m from EUR184.2m a year earlier, thanks to a strong decrease of financial charges and the absence of restructuring costs at its German activities. Sales grew 8.3 per cent to EUR2.378bn and EBITDA rose 15.7 per cent to EUR681.9m. The company said the construction market was stable in Italy and the US while it rose in Mexico and slightly recovered in Germany. Central and Eastern European markets continued to perform strongly... |
Egypt’s Misr Cement Qena 9-month profit up 69 per cent13 November 2006, Published under Cement NewsEgypt’s Misr Cement Qena on Monday reported a 69 per cent rise in net profit in the nine months to the end of September. The firm said in a statement net profit stood at E£202.5m (US$35.4m), compared with E£120m in the same period in 2005. |
Thailand’s Siam City Cement’s changes CEO13 November 2006, Published under Cement NewsSiam City Cement Plc (SCCC) has shaken up its management and board in the wake of disappointing results, but it says the two developments are not related. The country’s second-largest cement producer said Leo Mittelholzer would resign as managing director and chairman of the executive committee, effective from Feb 28. He will be returning to Europe to take up another position with the Swiss parent company Holcim. Krit Ratanarak resigned as chairman of the board on Thursday. Ma... |