Cement News tagged under: corporate
Strong US prices help Cemex move ahead in first half27 July 2006, Published under Cement NewsFirst half turnover at Cemex increased by 23.7.0% to US$8,595.3m, with a modest help form an additional two months of RMC, and the EBITDA grew by 21.9% to US$1,972.5m. The trading profit improved by 19.9% to US$1,424, while the net interest charge declined by 7.3% to US$224.5m and led to a running profit before tax 26.7% higher at US$1,200.5m. Net debt at the end of the period was 15.6% lower at US$8,120m, which represents a gearing level of 69.9%. Cement deliveries in the six months wer... |
Ciments Français shows good first half growth26 July 2006, Published under Cement NewsCiments Français, which essentially covers the non-Italian operations of the Italcementi group, increased first half turnover by an underlying 16.4% to €2,156.9m. With an increase of 10.4% to €1.032.8m, turnover growth was the slowest in the European Union, but downstream volumes in France and Spain performed particularly well. The underlying growth in the Mediterranean and Black Sea areas reached 20.5% as turnover reached €489.5m. The best performances were seen in cement prices in Egypt ... |
Thai Siam Cement Q2 net down 13 per cent on costs26 July 2006, Published under Cement NewsSiam Cement PCL (SCC) , Thailand’s top conglomerate, reported a larger-than-expected 13 percent fall in second-quarter earnings on Wednesday as high energy costs continued to bite into profits. While higher global petrochemical prices offer some respite for SCC, a barometer of Thai corporate health with interests in cement, petrochemicals and paper, analysts said the outlook for the rest of 2006 remained bleak if energy prices remained high. High oil prices and electricity costs were likel... |
Fujairah Cement reports net profit of $21.1m, UAE26 July 2006, Published under Cement NewsThe UAE based Fujairah Cement Industries Company made $21.1m in net profits for the first half of this year compared to $19.01m during the same period last year, KUNA reported.The company realized net profit that reached $11.4 million during the first quartet of this year compared to $9.7m realised the same period last year. |
Florida Rock 3Q profit rises 27 per cent26 July 2006, Published under Cement NewsFlorida Rock Industries Inc., provider of concrete and other materials for the construction industry, said Tuesday fiscal third-quarter profit increased 27 percent, as growth in nonresidential demand helped offset a declining residential market. Net income rose to $58.3m, or 87 cents per share, from $45.9m, or 69 cents per share. Total sales were up 15 percent to $361m from $313.5m. During the quarter, the company said higher pricing in all segments helped gross profit improve 19 pe... |
Chinese bank loans $97m25 July 2006, Published under Cement NewsThe Industrial and Commercial Bank of China (ICBC) will provide a credit package worth US$97m to the Tay Ninh Cement Plant, according to the agreement signed July 24 between the ICBC and France’s BNP Paribas, acting as a broker bank in the deal, and Vietnam’s Construction Material Corporation 1. The package includes a US$79.1m export credit funded by the China Export & Credit Insurance Corporation (Sinosure) and a commercial loan worth $18m, repayable over a period of 13 years. The loa... |
JP Morgan to help finance Gresik acquisition25 July 2006, Published under Cement NewsJP Morgan has agreed to provide a loan to the Rajawali Group to help finance its acquisition of 24.9 per cent stake of Cemex in state cement maker PT Semen Gresik, a report said. Cemex has agreed to sell the stake at a price of US$337m and the government, which still holds the majority 51 per cent of the cement factory, has in principle approved the deal after long negotiations . The loan fund from JP Morgan, however, is only a small part of the fund needed for the acquisition, the newspa... |
Titan to invest in Albania25 July 2006, Published under Cement NewsTitan Cement plans to start a US$200m cement and clinker factory construction in Albania, it was reported on July 24, 2006. The project will also be co-financed by the European Bank for Reconstruction and Development (EBRD) and the World Bank’s private sector arm International Financial Corporation (IFC). The factory will have a daily production capacity of 3500t of clinker and an annual capacity of 1.5Mt of cement. The project is to cover the demand for cement in Albania which currentl... |
USG advances across the board25 July 2006, Published under Cement NewsUSG, which emerged out of its asbestos related bankruptcy proceedings last month, increased turnover by 23.5 per cent to US$3038m in the first six months of the year, with the trading profit jumping 88.2 per cent to US$574m. USG Gypsum boosted sales by 24.6 per cent to US$1712m in another record quarter, with volumes rising by some 3 per cent and average prices by 32 per cent, leading to a 97.7 per cent advance in trading profit to US$431m. Canadian sales growth was more modest at 14.9 per... |
Thai majors to reflect downturn24 July 2006, Published under Cement NewsSiam Cement and its rival Siam City Cement are both likely to report a decline in second-quarter net profit due to high oil prices and a slowdown in construction projects, analysts say. "Cement sales dropped in the second quarter mainly because many major construction projects face delays," Siam City Securities said in a research note. Since parliament was dissolved in February, ahead of elections that were later annulled, Thailand has had no working legislature and only a caretaker gov... |