Cement News tagged under: corporate
OCC posts higher profits22 February 2006, Published under Cement NewsOman Cement Company (OCC) achieved a net profit of 18.2 mln Omani rials ($47.4m) for 2005, compared to 13.2 mln rials ($34.3m) for 2004, the company said in a statement to the Omani bourse Muscat Securities Market (MSM) on February 21, 2006. Pre-tax profit increased to 20.6 mln rials ($53.5m) from 14.9 mln rials ($38.7m). OCC cement plant is located at the Rusayl industrial area, about 60 km from the Sultan Qaboos Port and some 32 km from the Seeb International Airport. |
Lafarge launches $3bn cash buyout22 February 2006, Published under Cement NewsLafarge has launched a tender for the 46.8 per cent stake it does not already own in Lafarge North America Inc. as part of a $3bn offer that expires on March 20, the world’s biggest cement maker said on Tuesday. France’s Lafarge announced earlier this month it would offer minority shareholders $75 in cash for each Lafarge North America share, in a move aimed at streamlining the group’s operations and enhancing its earnings. The offer is conditioned upon the ownership by Lafarge of at least... |
HeidelbergCement 2005 sale22 February 2006, Published under Cement NewsHeidelbergCement said it swung to a 2005 net profit of EUR415 million following a loss of EUR366 million the year before and will propose a dividend payment of EUR1.15 a share. Analysts had forecast 2005 net profit of EUR476.1 million, according to a Dow Jones Newswires poll of six analysts. HeidelbergCement said results were hurt by a EUR117 million charge for restructuring costs and provisions for loss risks, as well as impairment of previously acquired goodwill and fixed assets. The c... |
Saurashtra Cement approves convertible debt issue22 February 2006, Published under Cement NewsSaurashtra Cement Ltd. said on Tuesday its board had approved an issue of convertible debentures worth 931.25 million rupees to Cayman Islands-based ADM Maculus Fund II LP. The cement manufacturer said 260.75 million rupees worth would be converted mandatorily within 18 months into 7.45 million shares at a conversion price of 35 rupees per share. The rest would be convertible at the option of the holder within 18 months into 5.364 million shares at a price of 125 rupees each. Shares in S... |
Holcim in South Africa20 February 2006, Published under Cement NewsThe high demand for cement during 2005 and the prospect of such demand being sustained in the future through major infrastructure projects like the Gautrain rapid rail link, and the 2010 soccer World Cup tournament have confirmed the need for Holcim South Africa to keep all of its kilns in production in future. A substantial R169-million refurbishment project on kiln 2 at Dudfield started in 2005 in order to improve the efficiency levels at the plant. The project, which is sche-duled for com... |
Semen Gresik January cement sales20 February 2006, Published under Cement NewsIndonesia’s largest cement maker PT Semen Gresik sold 1.12Mt of cement in January, up 7 per cent from the same month a year ago, according to the Indonesian Cement Association. In a report, the industry group said Semen Gresik sold 1.02Mt of cement in the local market during the month, up from 966,927t a year earlier. The company exported 94,783t against 76,938t in the same month in 2005. Semen Gresik’s cement sales grew a modest 4.5 per cent to 16.34Mt in 2005 from 15.64Mt in the previous... |
ACC appoints Shailesh Haribhakti and Anil Singhvi20 February 2006, Published under Cement NewsShailesh Haribhakti and Anil Singhvi have been appointed as directors of the Associated Cement Companies Limited (ACC). The decision of their appointment was taken unanimously by the company board of directors at a meeting held here today, a company release said here. Haribhakti is a Managing Partner of Haribhakti & Co, an accounting firm and Chief Executive Officer of the Haribhakti Group. Anil Singhvi is the Managing Director of Gujarat Ambuja Cements Limited. |
Greece’s Titan Cement FY net likely to rise20 February 2006, Published under Cement NewsGreeces Titan Cement is expected Feb 23, to announce a 14 per cent hike in 2005 full year group net profits of Euro 202m, analysts said. In a consensus poll taken by Euro2day.gr Newswire of five leading analysts, full year group net profits are seen coming in between Euro 199.6-204.4m from Euro 177m last year. Most analysts said Titan will benefit from the continuing strong performance of its operations in the US market, where demand and prices are both higher. Full year EBITDA is for... |
European resistance may affect EU investments in India17 February 2006, Published under Cement NewsIndia is crying foul on the politicisation of steel magnate LN Mittal’s bid for Arcelor. Industry bodies are arguing that it would set a wrong precedent and there might be repercussions with a similar block on investments from the European Union in India in the future. The resistance from European nations on LN Mittal’s bid for French steel giant Arcelor is being seen as a political interference in what is a business issue. Commentators have pointed out that French companies like Lafarge ha... |
JK Cement to tap market to fund expansion17 February 2006, Published under Cement NewsJK Cement is entering the capital market to raise about Rs 300 crore to finance its expansion plan. The second largest domestic white cement manufacturer will invest Rs 220 crore to set up a 13.2mW plant based on the waste heat recovery technology. The plant will use the waste heat emitted in the manufacture of cement. The Kanpur-based company will be among the first in the cement sector to use this technology. The company is also setting up a 20mW captive power plant based on petcoke. “Th... |