Cement News tagged under: corporate
Private equity funds eye Mysore18 April 2006, Published under Cement NewsPrivate equity funds and other financial investors are believed to have shown interest in buying a large stake in Mysore Cement (MCL), the Bangalore-based SK Birla group company, sending the company’s shares shooting through the roof. MCL shares have jumped 81 per cent in three months to Rs 49 on the speculation that a deal is imminent. The buzz has also drawn in MNC cement firms such as Lafarge and Italcementi, though it is not known if these firms have had any serious talks with Mysore C... |
Devcon’s materials division down18 April 2006, Published under Cement NewsUS Devcon’s materials division reported an operating loss of US$6.9m for 2005 versus a loss of US$3.6m in 2004. During 2005, we recorded a US$2.8m impairment charge with respect to long-lived assets at our Puerto Rico and Sint Maarten/St. Martin operations. In addition, during 2005 we continued to experience shortages of cement supply which resulted in operational inefficiencies, as well as declining sales. Mr. Ruzika stated, "We have arranged for an alternative supply of cement and, so far... |
Polpaico announces BoD Members18 April 2006, Published under Cement NewsChilean cement producer Cementos Polpaico, a subsidiary of Swiss group Holcim, announced on April 13, 2006, the members of its board of directors (BoD). Polpaico’s BoD consists of Juan Antonio Guzman, Gabriel del Real, Luis Aspillaga Urenda, Oscar Parada Salinas, Matias Perez Cruz, Francisco Silva Silva, Sergio Orrego Flory and Eduardo Kretschmer Castaneda. Polpaico’s president, Juan Antonio Guzman, also announced details on the company’s investment plan for 2006, encouraged by the risi... |
Italcementi to invest more in Morocco18 April 2006, Published under Cement NewsItalian cement maker Italcementi SpA is planning to invest EUR150m to build a new cement plant in Morocco, where the company already operates, reports Il Corriere della Sera in its Friday Internet edition. As for potential acquisitions, the company said it’s studying many projects, but "nothing is concrete or in the near term," the paper adds, citing remarks by the company’s Chief Executive Carlo Pesenti. |
Trade mark costs - but who pays?18 April 2006, Published under Cement NewsThe independent shareholders of PT Holcim Indonesia Tbk agree that the cement company has to pay 0.7 per cent of the total sales for utilising the trademark of Holcim. They approval was signed on the second extraordinary general meeting of shareholders yesterday, after the first one could not meet the quorum. As much as 62.75 per cent of independent shareholders attended the meeting, and 88.89 per cent of them approved the proposal on trademark payment fee. "The payment fee is the consequen... |
Samart Corp to build new power plant18 April 2006, Published under Cement NewsSamart Corp Plc, has clinched a deal to build a power plant in Cambodia, which will supply electricity to a cement factory being constructed by Siam Cement Industry Ltd. The value of the deal was not revealed, but Samart said contracts would be signed next Thursday with Siam Cement Industry, a holding company for the Siam Cement Group’s cement business. It would provide more details. But a Samart source said the company would build the 16-megawatt power plant in Cambodia’s Kampot province. I... |
Indocement secures syndicated loan13 April 2006, Published under Cement NewsCement producer PT Indocement Tunggal Prakasa, 65.14 per cent owned by HeidelbergCement said it has signed a syndicated loan agreement worth US$158m to refinance partly its US$380m debt. Indocement secured the five-year syndicated loan from Standard Chartered Bank, ABN AMRO Bank NV Jakarta branch, PT Bank Central Asia and Calyon Deutschland, with the agreement signed last Friday, the company said in a statement. Indocement now plans to terminate its US$380m Master Facilities Agreement (MFA) ... |
CMP results for 200513 April 2006, Published under Cement NewsPortuguese cement producer CMP - Cimentos de Maceira e Pataias SA, a Secil subsidiary, registered a net profit of Euro 9.5m for 2005, the company said in a note sent to Portugal’s national bourse regulator CMVM on April 12, 2006. CMP’s sales for the said period fell by 2.0 per cent year-on-year to Euro 99.6m. EBITDA grew by 2.0 per cent, reaching Euro 23.7m The company’s cash-flow also went up to Euro 27.1m. CMP’s board of directors will propose for approval by the general shareholders’ ... |
SCC’s 1Q06 expected to recover13 April 2006, Published under Cement NewsSiam Cement (SCC) will announce their 1Q06 earning results on April 26. Earnings will improve from the previous quarter and be rather impressive, although down from the same quarter last year with a normalised profit of Bt8,079mn (EPS Bt6.73), up 58% qoq, as full capacity has been the norm at the petrochemical plant after a 35-day shutdown in the fourth quarter and a petrochemical spread that has remained good. However, earnings will be down from last year by 12% from the lower petrochemical... |
SCC’s 1Q06 expected to recover13 April 2006, Published under Cement NewsSiam Cement (SCC) will announce their 1Q06 earning results on April 26. Earnings will improve from the previous quarter and be rather impressive, although down from the same quarter last year with a normalised profit of Bt8,079mn (EPS Bt6.73), up 58% qoq, as full capacity has been the norm at the petrochemical plant after a 35-day shutdown in the fourth quarter and a petrochemical spread that has remained good. However, earnings will be down from last year by 12% from the lower petrochemical... |