Cement News tagged under: corporate
Taiheiyo Cement to increase in Ssangyong Cement06 November 2006, Published under Cement NewsTaiheiyo Cement Corp plans to increase its stake in the top South Korean cement company, Ssangyong Cement Industrial Co., to more than 33.3% in fiscal 2007. The leading Japanese cement maker intends to do so by spending roughly 1 billion yen and purchasing shares from a four-bank South Korean syndicate that currently holds a 46% interest. Taiheiyo has already spent about 75 billion yen and acquired a 32.3% stake in Ssangyong. It has even dispatched and installed one of its own as chairman t... |
Taiheiyo Cement to up Ssangyong stake03 November 2006, Published under Cement NewsTaiheiyo Cement Corp is set to raise its stake in South Korean firm Ssangyong Cement Industrial Co. Ltd. to more than 33.3 per cent in the next fiscal year, according to local press reports. Taiheiyo has already acquired a 30 per cent stake in Ssangyong, whose importance is growing for the Japanese firm as an export base for the key United States market. According to the paper, Taiheiyo will spend around 1bn yen to purchase Ssangyong shares to raise its stake. Taiheiyo officials cou... |
Eagle Materials keeps moving cement prices ahead02 November 2006, Published under Cement NewsEagle Materials produced a 21.1% advance in first half turnover to US$516.4m and the pre-tax profit rose by 63.0% to US$188.9m. Largely, these increases are price induced and still highly beneficial to margins, with the group achieving its highest prices ever in its second quarter, both in cement and in plasterboard. The cement operations increased first half turnover by 16.5% to US$175.5m, of which US$37.1m came from the joint venture with HeidelbergCement at Buda, Texas, and the tra... |
St Lawrence Cement Group Inc, Canada01 November 2006, Published under Cement NewsSt Lawrence Cement Group Inc reported sales of $454.6 million for the third quarter ended September 30, 2006, compared to $449.3m for the same period last year, an increase of 1.2%. The higher sales reflect increased selling prices for construction materials and strong activity in construction services, offset by lower sales volumes and a negative foreign exchange impact of approximately $6.0 million on the translation of U.S. sales into Canadian currency for reporting purposes. Sales vo... |
Chettinad Cement gets board nod for merger01 November 2006, Published under Cement NewsChennai-based Chettinad Cement Corporation Ltd has received approval from its board for the merger of its two wholly-owned subsidiaries, Sabari Cements (Chennai) Ltd and High-Tech Lime Products Ltd with itself. The board of directors approved the Scheme of Amalgamation between the two subsidiaries and the company, at a meeting held on October 24, the company informed the Bombay Stock Exchange. |
Readymix rebrands by adopting name of Cemex01 November 2006, Published under Cement NewsReadymix plc has announced today that its subsidiaries Readymix (ROI) Ltd., Readymix (NI) Ltd., and Island Aggregates Ltd., will operate under the name of: Cemex (ROI) Ltd., Cemex (NI) Ltd., Cemex Island Aggregates Ltd., effective from Wednesday, November 1. Readymix plc which is listed on the Irish Stock Exchange (ISE) will, following the rebranding of its subsidiaries, continue to be listed on the ISE as Readymix plc with the ticker RYX. The rebranding follows the recent arms length co... |
JK Cement net up more than six fold, India31 October 2006, Published under Cement NewsKanpur-based JK Cement Ltd today reported a more than six fold jump in its net profit at Rs 34 crore for the quarter ended September 30, 2006, as compared to Rs 4.9 crore in the year-ago period. Gross turnover during the quarter rose by 25 per cent at Rs 331.1 crore as against Rs 264.9 crore in the corresponding period last year, the company release said. The gross turnover has increased due to rise in production of white cement and improved realisation of grey cement, it said. ... |
Sharjah Cement Q3 net drops 39 per cent, UAE31 October 2006, Published under Cement NewsKuwait-listed UAE-based Sharjah Cement and Industrial Development Company showed a 39 per cent decline in third-quarter profit to the equivalent of KWD3.3m (US$11.4m), the firm said on Monday. Earnings per share fell to 7.1 fils from 12.7 fils, the company said in a statement posted on the Kuwait bourse Web site. There are 1,000 fils to the dinar. For the first nine months, net profit fell to 14.8 million dinar, down 15 percent year-on-year. |
Holcim still trying to cement deal, South Africa31 October 2006, Published under Cement NewsTalks are still continuing between Holcim and Aveng, South Africa’s biggest construction and engineering firm, over Holcim’s plans to sell 85 per cent of its 54 per cent interest in its local cement operations to a black economic empowerment (BEE) consortium for R6.82bn. Aveng is a 46 per cent owner of Holcim South Africa. Richard Savage, Aveng’s chairman, told the company’s general meeting on Friday that both Aveng and Holcim remained committed to transformation and to the implementation... |
Anhui Conch nearly triples net earnings, China31 October 2006, Published under Cement NewsAnhui Conch Cement Co. Ltd. nearly tripled net earnings in the third quarter as robust global demand pushed up prices of its product despite Beijing’s efforts to discourage overzealous construction. China’s largest cement maker said on Tuesday it had net profit of CNY333.76m (US$42.37m) for the three months ended September, up 180 per cent from CNY119.20m a year ago, based on Chinese accounting standards. Core revenue climbed 46.8 percent to CNY3.93bn. China’s government, fearful ... |