Cement News tagged under: corporate
Yanbu Cement to raise output, Saudi Arabia05 June 2006, Published under Cement NewsSaudi Yanbu Cement plans to raise its annual output by 75 per cent to 7Mta by next year, official and company sources said. he trade and industry ministry has authorised the firm to build a fifth production line with a daily output capacity of 10,000t, Yanbu said in a statement. A company source, quoted by Reuters, said the projected line, expected to be completed next year, will hike output to 7.05Mt, an increase of 75 per cent from the current production capacity. |
Tarmac America Acquires Miami Valley Concrete02 June 2006, Published under Cement NewsTarmac America reported today the acquisition of another independent ready mix concrete producer located on the west coast of Florida. Miami Valley Concrete represents Tarmac’s third acquisition since March 2006. Miami Valley Concrete is based in Nokomis, near Venice, Florida. In addition to the Nokomis facility, Miami Valley operates ready mix plants in the Florida cities of Ellenton, Placida and Punta Gorda and a block plant also located in Placida. Earlier this year, Tarmac America acqu... |
Binani Industries to sell cement stake02 June 2006, Published under Cement NewsIndia’s second largest zinc producer Binani Industries Ltd. plans to divest a 10 percent stake in subsidiary Binani Cement Ltd to fund the latter’s ongoing expansion project, the company said. Binani said on Thursday the sale to a financial investor would bring down its stake in the cement company to 65 per cent. In September 2005, Binani Industries had sold a 25 percent stake in Binani Cement to a foreign investor. |
Vassiliko Cement profits rise02 June 2006, Published under Cement NewsVassiliko Cement Works posted a strong set of 1Q06 results with Net Profit reaching CYP 1.89m (+4.0% YoY), slightly above our estimate of CYP 1.99m. The main drivers of profitability were the satisfactory growth in total sales of cement and clinker (+7.8% YoY) driven mainly by higher prices rather than volumes, Egnatia Financial Services (Cyprus) reports. Total quantities of cement and clinker sold increased to 359,000t vs. 312,000t in 1Q05, (+15.1%YoY). Local quantities of cement and clink... |
Carib Cement loses J$190m in three months01 June 2006, Published under Cement NewsCaribbean Cement Company reportedly lost J$190m (US$2.94m) between January and March this year - with the deficit during the quarter following a 2005 full financial year in which the cement producer posted a dramatic reduction in net income. The company had a net profit of J$169m during the 2005 financial year, compared with J$842m in 2004. The 2006 first quarter loss - that reversed profit of J$155 million during last year’s similar quarter - in part reflects costs associated with the cris... |
Positive outlook on Yanbu Cement01 June 2006, Published under Cement NewsThe sales revenue of Yanbu Cement Co (YCC) for the year 2005 increased only by 0.6 per cent to SR778.9mn from SR774.6mn reported in 2004. The was mainly due to the decline in the production of clinker which for the year 2005 stood at 3.04Mt (from 4 kilns) as compared to 3.45Mt reported in the previous year. Cement production for the year 2005 stood at 3.74Mt, down 12 per cent as compared to 4.25Mt reported in the previous year. As a result, sales volume stood at 3.72Mt in 2005, down 12.9 per... |
SCC spends more on mortar01 June 2006, Published under Cement NewsSiam Cement Plc (SCC) will invest more than one billion baht to raise its production capacity for printing, writing paper and mortar cement, according to SCC president Kan Trakulhoon. The SCC’s board of directors approved a 335-million-baht investment in a wholly-owned mortar plant with a capacity of 450,000t per year in Saraburi. The new plant is expected to become operational in the second quarter of next year. Its mortar cement is used for plastering of interior and exterior walls, a... |
Texas Industries sells Houston-area plant01 June 2006, Published under Cement NewsCement producer Texas Industries Inc. said on Wednesday it sold the site of its Houston-area expanded shale and clay plant. TXI said it will continue to serve the Houston area from the current plant for the next two years, but then will shift production to its facility near Streetman, Texas. The transaction will increase pretax income by $19 million for the quarter ended on Wednesday, TXI said. |
French Vicat to raise capital via bonus issue01 June 2006, Published under Cement NewsVicat plans to increase its capital by Euro 124.7m to Euro 187.1m through a bonus issue financed from its reserve funds, it was reported on May 31, 2006. The decision is subject to approval by the general shareholders’ meeting on June 2, 2006. Vicat will issue 31,180,800 new shares at a par value of 4.0 euro each and will offer its existing shareholders two new shares for every one held. Trading in new shares will begin on September 1, 2006. |
Cimpor profits climb31 May 2006, Published under Cement NewsPortuguese cement company Cimpor posted a Euro 78.8m consolidated net profit for the first quarter of 2006. Turnover rose to Euro 406m up 20.4 per cent. The company registered growth in all the countries where it operates, except Portugal. The increase was particularly significant in Egypt and Brazil, where it reached rates of 66 per cent and 42 per cent respectively, mainly due to the combined effect of the market growth, the local currency appreciation against the euro and the increase in ... |