Cement News tagged under: corporate
Buzzi Unicem FY EBIT seen at EUR670m, up 17 per cent25 September 2006, Published under Cement NewsBuzzi Unicem SpA’s full-year EBIT is expected to rise 17 per cent to EUR670m according to a study of the cement company. Full-year sales are seen rising five per cent to EUR3.1bn, while net profit should be around EUR300m, up 33 per cent on a like-for-like basis, it said. The newspaper cited company officials as saying that in the short-term, the focus is on organic growth, although the company is not ignoring acquisitions. In the US, the group is investing US$220m to boost capac... |
Oyak eyes Lafarge in cement company shuffle25 September 2006, Published under Cement NewsA division of Turkey’s military pension fund-owned Oyak Group is eyeing the local assets of French cement giant Lafarge, a senior Oyak official suggested on Friday to national business daily Referans. Comments made by Celal Çağlar, head of Oyak’s Automotive and Cement Companies Group, were taken to mean that the Lafarge Aslan Turkey Cement Group may be ripe for acquisition by the local fund. “An announcement about the sale of a large cement group is on the way. That’s what we’re waiting f... |
Energy Costs Cut Portland Cement Profits By 15%.21 September 2006, Published under Cement NewsEast African Portland Cement posted a 15 per cent drop in pre-tax profits in the year ending June 2006. The cement maker returned profits of Sh924 million, compared to Sh1 billion in the year ending June 2005, with a significant 54 per cent increase in expenses. For the post-tax profits the drop was 32 per cent to Sh412 million compared to Sh608 million for the year ending June 2005. Despite the lower profits, the board of directors is recommending a final dividend of Sh1.30 maki... |
Pretoria Portland Cement Trading Statement21 September 2006, Published under Cement NewsTrading conditions in the second half of this financial year have continued to be favourable with cement sales volumes growing ahead of expectations. All production facilities including the re-commissioned Jupiter kiln have been in operation since May 2006 and running at high utilisation levels. These improved trading conditions, are expected to result in both headline earnings per share and earnings per share to 30 September 2006 being between 25% and 35% higher than last year. Operating c... |
Lafarge Expands Into Arizona Market20 September 2006, Published under Cement NewsLafarge today announced it has completed the purchase of the aggregate assets of Sun State Rock and Materials Corporation in Sun City, Arizona. Sun State, a private corporation, has been doing business in the greater Phoenix area for more than 20 years. The business will be consolidated into Lafarge’s Aggregates, Concrete & Asphalt operations. "We are excited to enter the Arizona market. We selectively seek out development opportunities that expand and build upon our portfolio of assets, ... |
Egypt’s Ameriya Cement H1 profit up 142 per cent20 September 2006, Published under Cement NewsEgypt’s Amreya Cement reported net profit of E£129.7m (US$22.6m) for the first six months of 2006, a 142 per cent increase on a year earlier. The firm reported net profit of E£53.4 m in the same six-month period to the end of June, 2005. |
Cemex sees 3Q sales growth at 7 per cent20 September 2006, Published under Cement NewsCemex said it expects third-quarter sales to grow 7 per cent to $4.6bn on stronger cement sales volumes in Mexico and Spain. The company also forecast EBITDA of about $1.1bn and operating income of $800m. For the year, the company sees EBITDA of $4.1bn. Cement and ready-mix sales volumes in Mexico in the third quarter are expected to rise 7 per cent and 20 per cent, respectively. Cemex sees Mexico cement volume growth of seven per cent for the year. In the U.S., Cemex expects sal... |
Garadagh Cement JSC pays fines for tax evasion18 September 2006, Published under Cement NewsThe Azerbaijani Tax Ministry has canceled one of the two tax evasion lawsuits brought by the Ministry’s Tax Crime Initial Investigation Dept. against the Garadagh Cement JSC. The Ministry’s Large-Scale Taxpayers Dept. inspected this company by the verdict of the Khatayi District Court between Dec. 29, 2005 and June 14, 2006. The investigation inquired into the company’s business between July 7, 1999 and Aug. 1, 2005 and revealed a tax evasion of AZN 3,062,300. The company was fined at AZN 79... |
Devnya Cement posts EUR 99.2m turnover 200515 September 2006, Published under Cement NewsThe annual capacity of Devnya Cement’s two plants in Bulgaria has reached 2.5 million tonnes. In 2005 the company posted a turnover amounting to EUR 99.2 million. Devnya Cement is part of Italcementi Group, which manages the cement plants in Varna and Dimitrovgrad. So far the group has created some 2,000 jobs directly and indirectly. Devnya Cement was acquired by the world’s fifth biggest cement manufacturer in 1998. The Italian group operates in 19 countries and employs 21,8000 people... |
Summary of FLSmidth Co. A/S Extraordinary General Meeting15 September 2006, Published under Cement NewsOn Wednesday 13 September 2006 at 15.00 hours, FLSmidth Co. A/S held an Extraordinary General Meeting at the Company’s address with the following items on the agenda: - Proposal by the Board of Directors to reduce the Company’s share capital by DKK 477,060,960 nominal value from DKK 1,541,060,960 nominal value to DKK 1,064,000,000 nominal value by cancellation of 23,853,048 own shares at a nominal value of DKK 20 each. - As a consequence of the merger with Potagua FLS A/S being fina... |