Cement News tagged under: corporate
Cementir turnover soars as foreign expansion continues16 February 2006, Published under Cement NewsCementir has posted its results for 2005. The Italian cement group generated turnover of Euro 857m, an increase of 117 per cent on the previous year, and a gross operating margin of Euro 184m, up 92 per cent. The operating profit doubled to Euro 119m. Until as recently as 2001, the Italian market accounted for all of Cementir’s revenue; now it accounts for just 20 per cent. In four years, the group has invested Euro 1bn in foreign acquisitions. |
Lafarge North America hires Merrill to advise on buyout15 February 2006, Published under Cement NewsLafarge North America Inc. on Tuesday said its board hired Merrill Lynch & Co. to help review the proposed tender offer from France’s Lafarge SA. On February 6, Lafarge S.A. said it planned to buy the 46.8 percent stake of the North American company it did not already own. It also said it would offer minority shareholders US$75 in cash for each Lafarge North America share, representing a premium over the stock’s price at that time. Simpson Thatcher & Bartlett LLP and Venable LLP were hired... |
Spanish Cementos Lemona profits up15 February 2006, Published under Cement NewsSpanish Cementos Lemona posted a record high Euro 21m attributable profit for 2005, up 40 per cent year-on-year, the company informed the Spanish stock market regulator CNMV on February 13, 2006. The rise was chiefly due to the increasing demand, the start of operation of new production units and lower costs. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 62.5 per cent to Euro 43.2m. Cementos Lemona turnover totalled Euro 121.3m up 21.5 per cent. In terms... |
Ashaka Cement looks firm15 February 2006, Published under Cement NewsAlthough unaudited results for its third quarter ended September 30, 2005 is several months behind schedule, just as the full year’s, shares of Ashaka Cement, Nigeria has remained the highest-priced in the building materials sub-sector recently. There is said to be a correlation between the current share price and the liquidity of the Lafarge subsidiary. Lafarge is a core-investor in Ashaka Cement, with 50 per cent shareholding, apart from being a core investor in the West African Portland C... |
Shuangma’s equity transfer to Lafarge approved15 February 2006, Published under Cement NewsShenzhen-listed Sichuan Shuangma Cement Co announced on February 14 that the provincial government of Sichuan has approved the agreement on transferring an 89.72 percent equity in the Sichuan Shuangma Investment Group from the Mianyang City State-owned Assets Supervision and Administration Commission to Lafarge China Offshore Holding Company (LCOHC) Ltd. But this equity transfer agreement is yet to be approved by the State Council department in charge of state-owned assets supervision and ad... |
Cemex to start-up quarry in Los Angeles14 February 2006, Published under Cement NewsMexico’s Cemex said on Monday it would start operations soon at a quarry in Los Angeles County after a US appeals court moved to allow the project to proceed. The US 9th Circuit Court of Appeals affirmed on Friday a lower court’s approval of a consent decree between Cemex and Los Angeles County that would allow the company to operate the planned Soledad Canyon quarry in exchange for environmental concessions. According to Cemex, the proposed Soledad Canyon quarry’s aggregate gravel and ... |
Taiheiyo Cement nine months down14 February 2006, Published under Cement NewsTaiheiyo Cement Corp reported a net profit of JPY2.272 billion in the 9 months ending December 31, 2005, a 84.5 per cent decrease from the same period last year. It was on revenue up 4.6 per cent to JPY663.7 billion. Operating profit was up 36.5 per cent to JPY45.3 billion, and ordinary profit was up 51.4 per cent to JPY38.1 billion. Profits increased due to growth in the cement business in Japan followed by private investment increase and demand increase associated with disaster recover... |
Omani Raysut Cement profits rise14 February 2006, Published under Cement NewsOmani Raysut Cement Company (RCC) registered a net profit of 10.2 mln Omani rials ($26.5m) and total sales of 28 mln rials ($72.7m) for 2005, according to a statement to the Muscat Securities Market (MSM) from February 13, 2006. The management board of the company decided to propose a dividend equalling 25 pct of the share capital to the general shareholders meeting to be held on March 21, 2006. The company increased its net profit by 29.2 per cent year-on-year to 7.04 mln rials ($18.3m... |
Lafarge 2005 sales up ten per cent13 February 2006, Published under Cement NewsLafarge posted a forecast-beating 10.6 per cent rise in 2005 sales on Monday, as buoyant construction markets lifted its cement, concrete and plaster revenues. Lafarge generated revenues of 15.969 billion euros ($19.11 billion) last year compared with 14.435 billion in 2004, the French building materials company said in a statement. This was above a Reuters Estimates average forecast of 15.488 billion. The company, which last week unveiled plans for a $3 billion buyout of minority share... |
Jordan Cement profit up13 February 2006, Published under Cement NewsThe Jordan Cement Company has posted a 29 per cent rise in profit to $94.5m for 2005 on sales up 22% to $288m. The group is 40% owned by France’s Lafarge Group and is increasing output to 5.5Mta under a three-year expansion plan. |