Cement News tagged under: corporate
Egyptian Torah Cement net profit jumps to $31.4 Mln H1 200602 August 2006, Published under Cement NewsEgyptian Torah Cement registered a net profit jump to E£180.4m (US$31.4m) in the first half of 2006, from E£70.5m (US$12.3m) in the year-ago period, Cairo and Alexandria Stock Exchanges (CASE) said on August 1, 2006. The company was listed on CASE in February 1995 and is traded under the TORA.CA symbol. It has 23,841,400 listed shares with a face value of 10 pounds ($1.74/1.37 euro) each. Market capitalisation amounts to 3.051 bln pounds ($531.3 mln/416.5 mln euro). Torah Cement made a net ... |
Merger between FLSmidth and Potagua FLS02 August 2006, Published under Cement NewsOn 1 August, the Boards of Directors of FLSmidth & Co and Potagua FLS A/S ("Potagua FLS") have made a final decision to carry out a taxable merger between the two companies, FLSmidth & Co. being the continuing company and Potagua FLS the discontinuing companies as described in Stock Exchange announcement No. 23-2006. On completion of the merger, the shareholders of Potagua FLS will receive new shares in FLSmidth & Co. at the exchange ratio of 1:1.2122 (the "Exchange Ratio"). Accordingly, th... |
Argos expects to recover US$700mn US investment in 5-6yrs02 August 2006, Published under Cement NewsColombia’s dominant cement company Argos expects to recover within five-six years its investments from the three companies it acquired in the US, even though it has already begun to collect profits, Argos’ finance VP Ricardo Sierra was reported as saying by daily La República. Argos bought Southern Star Concrete and Concrete Express in October last year for a combined total of US$258mn, the largest investment ever made by a Colombian firm in the US. These two companies are based in Dallas, ... |
Lawrence swings to profit on higher prices02 August 2006, Published under Cement NewsSt. Lawrence Cement Group Inc. swung to a second-quarter profit on Tuesday, as a lower Canadian income tax rate and higher selling prices for construction materials helped offset a decline in sales volumes. The Montreal-based firm, in which Swiss-based cement giant Holcim holds a 63 percent stake, earned C$35m ($31m), or 83 Canadian cents a share, in the quarter. That compares with a loss of C$15.5m, or 37 Canadian cents a share, in the corresponding period a year earlier. St. Lawrence, w... |
Lafarge H1 net profit jumps 53 pct on strong organic growth02 August 2006, Published under Cement NewsLafarge said net profit jumped a greater-than-expected 53 per cent to EUR548m in the first half from EUR359m a year earlier, lifted by ’strong organic growth’, especially at its cement activities. ’We are in line with our targets. These results allow us to confirm our confidence for 2006,’ Bruno Lafont, Lafarge CEO, said in a statement. Sales grew 21 per cent to EUR8.759bn in the six month to June from EUR7.220bn in the year-earlier period, including 15 per cent organic growth, while opera... |
Mandiri, Holcim sign pact on housing loans01 August 2006, Published under Cement NewsIndonesia’s Bank Mandiri signed a memorandum of understanding Monday with PT Holcim Indonesia, on the extending of loans to Holcim’s partner distributors to encourage them to build low-cost houses. The MoU was signed by Bank Mandiri president director Agus Martowardjojo and Holcim president director Timothy Mackay in Jakarta. Agus said that Mandiri would provide loans of between Rp 100 million (US$10,869) and Rp 300 million to Holcim partner distributors, which are also involved in the... |
GCC completes private placement01 August 2006, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) a leading cement producer in markets where it competes in Mexico, the United States and Bolivia, today announced the successful completion of a US$250m senior guaranteed notes issue in the United States Private Placement market. Barclays Capital acted as sole lead-agent. The transaction, which marked the Company’s debut issue in this sector, received overwhelming demand and was increased from US$125m to US$250m based on an order book which was six times ... |
Qatar National Cement profits down01 August 2006, Published under Cement NewsQatar National Cement Company (QNCC ) registered a net profit of 88.09 mln Qatari rials (US$24.2m) for the first half of 2006, down from 90.64 mln rials (US$24.9m) in the corresponding period of 2005, it was reported on July 30, 2006. According to the company’s first-half financial statement, earnings per share (EPS) decreased to 3.08 rials ($0.8) from 3.17 rials ($0.9) in the year-ago period. |
Indocement H1 net profit increases, Indonesia31 July 2006, Published under Cement NewsIndonesia’s No.2 cement maker, PT Indocement Tunggal Prakarsa Tbk, reported on Monday an 11.5 per cent rise in first-half net profit, despite weaker overall industry sales volumes. Indocement, controlled by HeidelbergCement , said net profit rose to 342.98 billion rupiah ($37.74m) from 307.62 billion in the same six-month period a year ago. Revenue at Indocement climbed 20.7 percent to 3.06 trillion rupiah, it said in a statement published in newspapers. Domestic cement sales from all ... |
TPIPL’s 2Q06 results slightly below expectation31 July 2006, Published under Cement NewsTPI Polene (TPIPL)’s 2Q06 net profit fell 70% q-o-q to Bt344m, but improved from Bt256m loss in 2Q05. This included Bt99m unrealized FX gain on foreign debts (2Q05: Bt765m loss, 1Q06: Bt982m gain). Normalized net profit was Bt251m, down 47% y-o-y and 19% q-o-q due mainly to higher energy costs. 3Q06 earnings prospects remain uninspiring as domestic cement demand should remain soft, while margins will remain under pressure amid expectation of higher oil prices in 2H06. However, the recent... |