Cement News tagged under: corporate
Italy Cementir authorised to buy 4K-Beton03 March 2006, Published under Cement NewsItalian cement group Cementir, a unit of local construction company Caltagirone, received authorisation to acquire Denmark’s second largest concrete producer, 4K-Beton, a subsidiary of Cemex, the group said in a statement on March 2, 2006. The acquisition will be performed through Cementir’s Danish concrete making subsidiary Unicon A/S. In exchange for 4K-Beton, Cemex will receive two subsidiaries based in Poland plus an extra payment of around Euro 9.5m. The acquisition of 4K-Beton will a... |
Irish Readymix operating profits fall03 March 2006, Published under Cement NewsIrish cement maker Readymix PLC reported operating profits below expectations for 2005, after performance was hit by fierce competition and rising transport, energy and raw materials costs. Operating profits in the year to Dec 31, before property disposals and rationalisation costs, fell by 4.6 per cent to Euro 13.23m, below analysts expectations. The company said it expects a significant improvement in performance in 2006.(AFX News) |
Holcim Romania03 March 2006, Published under Cement NewsHolcim Romania has recently launched HolFresh, a new service for construction companies which need to maintain the ready-mix concrete fresh for up to half an hour, the company said on March 2, 2006. The new service, available to the company’s clients in Bucharest and in the southwestern city of Craiova, is provided through mobile equipment which can be rented by construction companies from Holcim Romania’s stations in the two cities. The company plans to soon extend the service to other loca... |
Egypt Suez Cement net debt03 March 2006, Published under Cement NewsEgypt’s cement company Suez Cement Company, controlled by Italian cement group Italcementi, registered a consolidated net financial debt of some Euro 194m at the end of 2005, it was reported on March 2, 2006. The company’s net financial debt stood at Euro 649m at the end of 2004. The net financial position/net financial debt is calculated as the difference between a company’s financial debts and liquid assets. Suez Cement has also completed its capital increase, which allowed it to rece... |
Moroccan Lafarge net profit rises 3.6 per cent03 March 2006, Published under Cement NewsLafarge Ciments , the Moroccan arm of French Lafarge SA, reported a 3.6 percent increase in 2005 earnings on Thursday as it raised output to feed a growing construction market. Net profit rose to 856 million Moroccan dirhams (US$93.5m) from 826 million a year earlier. Turnover climbed 6.4 percent to 3.151 billion dirhams, and operating profit was up 2.6 percent to 1.206 billion. The company is benefiting from a spate of state-led investments to stimulate trade, industry and tourism and impr... |
EU suspends review Of Wendel takeover03 March 2006, Published under Cement NewsThe European Commission Thursday suspended its antitrust review of French investment firm Wendel Investissement’s (12120.FR) planned takeover of building materials company Groupe Materis. A Commission official said the review was suspended because the companies haven’t responded to a request for further information about the deal. The official declined to describe details of the request. Wendel Investissement plans to buy Groupe Materis for EUR1.02 billion from private equity group LBO Fr... |
Holcim pleases JP Morgan02 March 2006, Published under Cement NewsHolcim’s 2005 EBITDA was SFr 4757m, SFr43m higher than analysts at JPMorgan (JPM) were forecasting. Holcim reported 2005 earnings of SwFr 1540m, in-line with JPM forecast of SwFr 1541m and SwFr40m (2.7%) above Bloomberg’s estimate of consensus. Operating profit was SwFr22m below its forecast at SwFr 3316m, but SwFr 54m (1.6%) aboveBloomberg’s estimate of consensus. Holcim’s operating profit exceeded JPM forecast for Latin America, but was slightly lower than its estimates in its other four ... |
Acquisitions, prices rises boost Holcim profits01 March 2006, Published under Cement NewsRecent acquisitions and price increases helped Holcim to report a 75 per cent increase in net profit for 2005, beating market expectations. The Swiss company said on Wednesday that net profit reached SwFr1.54bn (US$1.2bn) on sales up 40 per cent at SwFr18.47bn. "Holcim exploited its strengths in a favourable economic climate and buttressed its market position through major acquisitions," the company said in a statement. It expects construction activity to remain favourable in its ma... |
Italcementi news01 March 2006, Published under Cement NewsItalian cement group Italcementi does not hold shares in Italian insurer Assicurazioni Generali SpA, Italcementi CEO Carlo Pesenti said on February 28, 2006. Pesenti spoke at a news conference for the presentation of Italcementi’s new product, a type of photocatalytic cement called TX Active. Pesenti answered a question whether the group he manages had acquired a stake in Generali. Italcementi does not consider buying out the stakes of the minority shareholders in its French cement s... |
Oman Cement net rises to RO18.2m01 March 2006, Published under Cement NewsThe 51-per cent government-owned Oman Cement Company (OCC) yesterday announced a record net profit of RO18.224m for the year ended December 31, 2005. The cement plant with a clinker capacity of 600,000Mta was commissioned in 1983 and subsequently due to increased demand for cement in the region, the plant capacity was enhanced to 1.2Mta in 1998, which enabled OCC to produce 1.26Mt of cement. It produced 1.65Mt of cement in 2004, by importing additional clinker. OCC was 100 per cent owne... |