Cement News tagged under: corporate
Cement giants look to expand int’l presence18 May 2006, Published under Cement NewsBrazil’s largest industrial conglomerates Camargo Corrêa and Votorantim are both in the running for the purchase of Spanish cement company Uniland, local daily Estado de S.Paulo reported. Spanish families Fradera and Rumeu put their 73.7 per cent ownership of the company, valued at US$1.9bn, up for sale earlier this year. In March, 20 groups submitted proposals for the purchase and only six companies remain in the race. Besides the Brazilian groups, Spanish companies Portland Valderrivas an... |
Bulgarian cement producers Q1 2006 profit increases18 May 2006, Published under Cement NewsThree international companies (Italcementi, Holcim and Titan) owning major Bulgarian cement producers posted a profit increase in the first quarter of 2006, local daily Dnevnik announced on May 16, 2006. The main reason for the increase is the strong economic growth in the countries the companies are operating, especially in the Bulgarian market. |
Lafarge now owns 100 per cent of Lafarge North America17 May 2006, Published under Cement NewsLafarge has today announced that it has successfully completed its acquisition of the remaining shares of Lafarge North America that it did not acquire previously through its tender offer that expired on May 12, 2006. The acquisition was made by way of a short-form merger with one of its wholly-owned subsidiaries, and the merger was effective prior to the close of business on May 16, 2006. Lafarge now owns 100 per cent of the shares of Lafarge North America ("LNA"). Shareholders of LNA wh... |
Taiheiyo net profit down, revenues up17 May 2006, Published under Cement NewsTaiheiyo Cement Corp, Japan, decreased net profit by 36.9 per cent to JPY9.1 billion for the year to March 31, 2006. Revenue increased 3.9 per cent to JPY906.7 billion, operating profit rose 28.7 per cent to JPY62 billion and ordinary profit jumped 30.1 per cent to JPY49.8 billion. Net assets per share increased from JPY253 to JPY288. Earnings per share dropped from JPY14.8 to JPY9.3. Cement sales increased domestically, as did in the United States, Vietnam and Philippines. The resourc... |
BK Group plans cement unit in Assam16 May 2006, Published under Cement NewsThe BK Group, one of the leading business families of the North East, has finalised a plan to set up a greenfield cement project at Cachar in Assam, entailing an investment of about Rs 414 crore. The proposed plant, with an annual capacity of 1.5Mt is likely to be the largest cement manufacturing unit in this part of the country. A new company - Calcom Cement India Ltd (Calcom) - has been incorporated by the group to undertake the project, which is all set to start commercial production by... |
HeidelbergCement unit changes manager, Bosnia16 May 2006, Published under Cement NewsTvornica Cementa Kakanj (TCK), a Bosnian cement factory owned by Germany’s HeidelbergCement, said on Monday its supervisory board has named Branimir Muidza new general manager of the company. Muidza will replace Hilmo Bjelopoljak, who has resigned, TCK said in a statement issued after the company’s annual shareholders’ meeting. The shareholders also elected Bjelopoljak member of TCK supervisory board. |
Chilanga Cement spends on plant upgrades, Zambia16 May 2006, Published under Cement NewsChilanga Cement has spent K54.3bn over the past two years on maintaining its plants, company chairman Muna Hantuba has said. Reviewing the year ended December 31, 2005 at the company’s annual general meeting last Friday, Hantuba said K27.9bn was spent last year on plant maintenance. "Capital expenditure to improve and sustain the (wet process) plants was K20.6 billion during the year. The age of the facilities, particularly in Lusaka, requires that maintenance and sustaining capital ex... |
High interest for Camargo Corrêa bonds, Brazil16 May 2006, Published under Cement NewsInternational markets gobbled up last week US$1.2bn worth of senior unsecured bonds issued by Brazilian civil engineering firm Camargo Corrêa’s, local daily Valor Econômico reported. The company had planned to issue US$250m in bonds but received unexpected interest from international investors. "There is an enormous expectation amongst international investors that Brazil is becoming an investment grade country," the paper quoted José Olympio Pereira of Credit Suisse Brasil as saying. Credi... |
Torah Cement’s Q1 net profit up 54%15 May 2006, Published under Cement NewsEgypt’s Torah Cement made a net profit of E£80.8m (US$14m) in the first three months of 2006, 54 per cent up on the same period of 2005, the stock exchange said on Sunday. Net profit in the first three months of 2005 was E£52.5m, it said in a statement. Torah Cement is a subsidiary of Suez Cement , which is itself majority owned by Italy’s Italcementi. |
Italcementi FY to rise to EUR550m from EUR391m15 May 2006, Published under Cement NewsItalcementi SpA is expected to increase full year net profit to EUR550m from EUR391m a year earlier, boosted by an increase in sales to EUR5.50bn from EUR5.00bn. EBITDA is forecast to rise to EUR1.32bn from EUR1.14bn and EBIT will increase to EUR920m from EUR766m. |