Cement News tagged under: corporate
Gresik forecasts rise in net profit, Indonesia06 July 2006, Published under Cement NewsDespite a decline in cement demand in Indonesia, state-owned cement maker PT Semen Gresik is optimistic it will post a net profit of Rp1.12 trillion (US$123.5m) this year, up from Rp1.02 trillion last year. Company President Dwi Soetjipto acknowledged there was a decline of about three per cent in Indonesia’s cement demand in the first quarter of this year, but he said he is optimistic the country’s largest cement producers will succeed in boosting exports to offset the decline in domestic m... |
CNBM plans to spin off unit05 July 2006, Published under Cement NewsChina National Building Material Group Corp (CNBM) plans to spin off its machinery equipment making unit, Northern Heavy Industry, for a separate listing in Hong Kong. CNBM president Song Zhiping said he hoped the planned listing for Shenyang-based Northern Heavy Industry could be finalised within two to three years. The group listed its cement-making unit, China National Building Material Co, on the Hong Kong bourse in March, raising HK$2.1bn from the deal. Northern Heavy Industry ... |
Holcim Bulgaria to push capacity increase in 200605 July 2006, Published under Cement NewsHolcim will complete a Euro 26.5m investment in raising the output capacity of one of its Bulgarian plants by the end of August, a senior company official said on Tuesday. Holcim Bulgaria is reconstructing the kiln line of its Beli Izvor cement plant, aiming to raise the furnace’s daily output to 2500tpd clinker from 1500tpd now, Holcim Bulgaria CEO Todor Kostov told SeeNews. The reconstruction started in the second half of last year. "This investment will also enable us to produce some... |
Bio Bio sells assets worth $73.95m05 July 2006, Published under Cement NewsChilean cement producer Cementos Bio Bio (CBB), controlled by industrial group Briones, announced on July 3, 2006, that it had sold the assets of some of its subsidiaries for a total of $73.95m. CBB said that it had sold the assets of its forestry subsidiaries CBB Forestal, CBB Bosques Limitada, CBB Maderas and CBB Millwork & Sawmilling. The company did not disclose the buyers or its plans for the further restructuring of its operations. The forestry assets of CBB are located mainly in the... |
Readymix sells East Wall site05 July 2006, Published under Cement NewsIrish Readymix has sold its site on East Wall Road to the Dublin Docklands Development Authority (DDDA) for €23 million in cash, €7 million more than the guide price. Readymix had said it expected to make a profit of €20 million from the sale of the 1.6 acre site. The deal is expected to close on August 16th. But the company, which makes concrete at the site, is not required to vacate the premises until January 2009. This gives it two and a half years to develop an alternative production l... |
FFE Minerals acquisition05 July 2006, Published under Cement NewsFFE Minerals has acquired US-based Excel Foundry and Machine, Inc., which is a leading provider of quality spare parts and services to the mining and aggregate industries. At the same time, FFE Minerals has acquired the remaining 49 per cent of the shares in its sister company, Excel Crusher Technologies, LLC. The total acquisition price is in the range of US$30m. As of 1 July 2006, both companies have become wholly-owned members of FFE Minerals under the FLSmidth Group. The acquisition sho... |
Dontsement ends with improved 200505 July 2006, Published under Cement NewsCement producer Dontsement company (Amrosiivka; Donetsk region) ended 2005 with a net profit of UAH 15.14 million. The company increased net revenues by 32.8% or UAH 49.32 million, compared to 2004 to UAH 199.66 million. As Ukrainian News earlier reported, the enterprise ended 2004 with a net profit of UAH 7.679 million increasing net revenues by 198.2% or UAH 99.922 million, compared to 2003 to UAH 150.342 million. The plant has six kiln for cement production. It can produce about 2M... |
TPI Polene preparing to raise B16bn04 July 2006, Published under Cement NewsTPI Polene Plc is preparing to raise up to THB16bn through a private placement and an offer of new shares to its existing shareholders in order to pay down its debts. The private placement will involve 857.77M new shares at an offering price of THB10.15 each. Subscriptions will take place on Aug 21 and the purchasers must agree to a two-year silent period during which they cannot sell the shares, the company said in a statement to the Stock Exchange of Thailand. The bulk of the priva... |
BASF completes acquisition of Degussa’s construction chemicals business04 July 2006, Published under Cement NewsThe acquisition of Degussa AG’s construction chemicals business by BASF Aktiengesellschaft was completed on July 1. The purchase price for equity is just under €2.2 billion. As a result, the transaction value for BASF is €2.7 billion. The acquisition of Degussa’s global construction chemicals activities includes production sites and sales centres in over 50 countries as well as a research and development centre in Trostberg, Germany. “Construction chemicals is an innovative business ... |
SG Eyes IDR8 trillion revenue03 July 2006, Published under Cement NewsAmid the slower cement market on the first half of the year, PT Semen Gresik Tbk (SG) set the sales growth target of 6.24% to IDR8 trillion from IDR7.53 trillion last year. "We will boost our export if the domestic market will not improve. We will do that as the export price is interesting, as much as US$35 to US$40 per ton," said the Finance Director of Semen Gresik Cholil Hasan in a public expose yesterday. The company’s AGM approve the allocation of IDR735bn from the net profit fo... |