Cement News tagged under: corporate
HeidelbergCement has no plans to delist24 March 2006, Published under Cement NewsHeidelbergCement AG said it isn’t planning to delist from public trading. Chief Executive Bernd Scheifele, speaking at the company’s 2005 earnings press conference, said there weren’t any plans for a delisting or for a ’squeeze-out’, or buying the holdings of minority shareholders. He said HeidelbergCement will continue to be a heavyweight in Germany’s M-Dax index of medium-sized capitalization companies. HeidelbergCement was taken over last year by Germany’s Spohn Cement GmbH, a company... |
China building firm surges on US$231m debut23 March 2006, Published under Cement NewsShares in China National Building Material Co. (CNBM) surged 18.2 per cent in their US$231m Hong Kong trading debut on Thursday, as investors clamoured to profit from China’s booming economy. Investors are also betting that China’s cement sector is bottoming out as consolidation leads to a re-balancing of supply and demand. Shares in the state-owned firm, which has investments in cement and building materials such as gypsum board and glass fibre through five companies, outperformed th... |
Results of tender to explore and develop23 March 2006, Published under Cement NewsSaratovnedra announces deadline for accepting bids for exploration and development of the Tersinskoye limestone deposit located in the Saratov region. Among bidders are those of Eurocement Group, IKA-Edelveys, Saratovskiy Tekstil and Industriya Plus Saratov. Recoverable reserves of the Tersinskoye province are estimated at over 143Mt of cement equivalent. The successful bidder of the tender will gain a 25-year license for the deposit. |
Saudi Arabian Cement posts higher profits23 March 2006, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) based in Jeddah posted a net profit of 330.9 mln Saudi riyals (US$88.2m) for 2005, up 306.4 mln riyals (US$81.7m) a year ago. The increase was supported by a rise in sales to 687.2 mln riyals (US$183.2m) from 578.8 mln riyals (US$154.3m). Gross profit also rose to 350 mln riyals (US$93.3m) from 263.6 mln riyals (US$70.3m). |
Kuwait Cement profit up almost double23 March 2006, Published under Cement NewsKuwait Cement said its 2005 profit jumped 95 per cent to KD37.7 million (US$129m), almost 77 per cent of it in ’unrealised profits’. The company said in a statement on the Kuwait bourse Web site that the earnings rose from KD19.3 million in 2004 while earnings per share increased to 96.35 fils from 48.92 fils. Kuwait Cement also said KD29 million of the latest earnings were unrealised profits, or gains in the value of its portfolio that have been booked as earnings without the underlying ass... |
Holcim to hedge IDR4 trillion debts22 March 2006, Published under Cement NewsPT Holcim Indonesia Tbk may apply the strategy of hedging on its IDR4 trillion foreign currency debt in April and Mat to prevent from foreign exchange losses. The company registered IDR247.192 billion foreign exchange losses, down from IDR407.4 billion losses in 2004. The net profit, meanwhile, was ODR533.13 billion in 2004, down to IDR334.081 billion in 2005. Holcim Indonesia President Director Tim Mackay said the EBITDA of 2005 has increased by 58% to IDR545 billion. "Our sales revenu... |
JP Morgan investing in Andhra Cements22 March 2006, Published under Cement NewsGlobal finance major JP Morgan is investing Rs 73 crore by way of debt and equity in Andhra Cements Ltd. The size of the equity has been pegged at Rs 24 crore and it would be invested through one of its Mauritius-based investment companies. JP Morgan is also paying a premium for the equity. The balance — Rs 49 crore — would be made through a five-year-old debt paper carrying an interest rate of 12 per cent. Sources said that on Monday JP Morgan has applied to the Reserve Bank of India... |
Mysore Cements: Holcim link?21 March 2006, Published under Cement NewsShares in loss-making company Mysore Cements Ltd, India, have shot up by 60 per cent since February 20 on the buzz that the company was finally coming out of difficult times, thanks to the recent spurt in cement prices. Dealers said the company was also confident of getting "positive results" on its on-going negotiations with bankers to restructure its loans and to waive off interest rates on the loans that were taken 7-10 years ago. Huge losses by the company in the last few years had wipe... |
Govt yet to decide to buy back Cemex shares21 March 2006, Published under Cement NewsThe Indonesian government has yet to take a decision on the possibility of buying back Cemex Holding Asia Ltd shares in PT Semen Gresik following the Mexican company’s plan to sell its 25.5 percent stake in the giant cement maker. "Until now, there is no progress on Cemex shares," State Enterprises Minister Sugiharto said here Monday. So far, Sugiharto said, the state budget has yet to allocate funds to buy back Cemex shares. Previously, Deputy for Mining, Strategic Industry, Energy an... |
Cemex expects higher profit for 200621 March 2006, Published under Cement NewsCemex, the world’s third-largest cement maker, expects to obtain profit of some US$800m in 2006, up 26 per cent year-on-year, the Mexican press reported on March 20, 2006. The operating profit is expected at some US$550m up 25 per cent. The net sales are seen to jump 51 per cent to US$3.9bn. Cemex’ CFO Rodrigo Trevino announced that the company expects its free cash flow to top US$2.5bnin 2006. The company expects the volume of cement and concrete sales to the USA and in Mexico to increase... |