Cement News tagged under: corporate
Caltagirone SpA net profit increases03 April 2006, Published under Cement NewsItalian holding company Caltagirone SpA posted a net profit of Euro 113.68m in 2005, up 199 per cent from Euro 51.91m in 2004. The 2005 results can be partly attributed to the October 2004 acquisition of Danish cement firms Aalborg-Portland and Unicon, held through Caltagirone’s subsidiary Cementir. The company’s revenue surged 46 per cent to Euro 1.34bn while earnings before interest, tax, depreciation and amortisation (EBITDA) totalled Euro 264.54m, compared to Euroi 186.17m a year bef... |
Mysore Cement stake sold31 March 2006, Published under Cement NewsThe Indian ICICI Bank has sold its entire 8.5 per cent stake in the SK Birla promoted Mysore Cements (MCL) to SBI Mutual Fund and Templeton Mutual Fund for a consideration of Rs 35.5 crore. ICICI Bank has sold 74 lakh shares of MCL at Rs 48 per share. ICICI Bank had bought 8.5 per cent in MCL in early ’05 through the preferential allotment route. The Mysore Cement counter has been witnessing action for the past one month on the speculation that the SK Birla group planning to exit from MCL. ... |
Egyptian Alexandria Cement net profit climbs31 March 2006, Published under Cement NewsEgyptian cement producer Alexandria Cement registered a surge in consolidated net profit to 194 mln Egyptian pounds (US$33.8m) in 2005, compared to 52.3 mln pounds (US$9.1m) in 2004, the company said in a statement to Cairo and Alexandria Stock Exchanges (CASE) from March 30, 2006. Alexandria Cement was listed on CASE on September 27, 1995. Its capital is divided into 12 million listed shares with a par value of 10 pounds (US$1.74) each. The market capitalisation of the company amounts to 7... |
Heracles shows higher earnings31 March 2006, Published under Cement NewsHeracles General Cement Company has reported consolidatedprofits before tax of Euro 134.1m in 2005 and earnings for the parent company of Euro 123.4m in the same year.The Heracles Group of Companies posted sales of Euro 609.1m for 2005,up 3.6 per cent compared to a year earlier. Parent company sales totalled Euro 544.2m, showing a 4.6 per cent increase, management said in a statement."In the light of expectations for a significant decline in the market resulting from the finalization of main... |
Texas Industries 3Q down31 March 2006, Published under Cement NewsTexas Industries Inc.’s (TXI) fiscal third-quarter profit fell 29 per cent from a year-earlier period that included income of US$14.5m from discontinued operations. The Dallas cement producer said net income decreased to US$11.3m, or 47 cents from US$16m, or 69 cents a year earlier. Texas Industries’ sales for the third quarter ended Feb. 28 climbed to US$216.8m from $181 million. The company’s sales growth reflects higher cement, aggregate and ready-mix concrete prices for the latest peri... |
Ministry forecasts US$1bn in Japanese investment31 March 2006, Published under Cement NewsVietnam expects to draw US$1 billion in foreign direct investment (FDI) from Japan this year, according to the Ministry of Planning and Investment (MPI). Japan is ranked as third on the list of investors in Viet Nam with 606 projects and a total registered capital of more than US$6.4bn. Japan has the largest disbursed capital, totalling US$4.7bn, in Vietnam. Since Viet Nam and Japan launched a joint initiative three years ago to improve the business environment and competitiveness of Viet N... |
Profit-booking in India Cements30 March 2006, Published under Cement NewsSouthern Indian cement maker India Cements is seeing sizeable selling by foreign-based funds. On Wednesday, CLSA sold 1.1 million shares at Rs 161. CLSA’s sale comes after ABN AMRO Bank sold 1.0 million shares on March 16 at Rs 164. On March 2 and 3, foreign funds GMO Trust and Grantham GMO sold 1.25 million shares each at Rs 153.32 and Rs 149.88 respectively. Dealers said funds are booking profits on their investments in India Cements. From about Rs 61 in last April, the shares touched a ... |
Colombian Argos plans30 March 2006, Published under Cement NewsColombian cement producer Cementos Argos is planning to enter the oil and hydroelectric business, according to modifications to its statutes approved during the latest shareholders’ assembly. In the brief to the Finance Superintendence, the company will dedicate funds to hydrocarbons operations, as well as measures that will be taken for fuel exploration and other activities related to the sector. |
Gresik to miss March 31 deadline30 March 2006, Published under Cement NewsIndonesia’s largest cement maker PT Semen Gresik will miss the March 31 deadline for reporting its 2005 audited financialresults, investor relations head Agung Wiharto said. "We won’t make it in time for this Friday. We will report as soon as possible, most likely next week," he said. The company had said earlier that it posted an unaudited net profit of 937 bn rupiah in 2005 against 521 bn a year earlier, on sales of 7.76 trln rupiah against 6.07 trln. (US$1=9030 rupiah) |
Lafarge to bid for Semen Gresik stake?30 March 2006, Published under Cement NewsAccording to the Indonesian government, French building materials group Lafarge is among the bidders for a 25 per cent stake in PT Semen Gresik, Indonesia’s leading cement group.The holding, valued at US$180m in 2004, has been put up for sale by Cemex. |