Cement News tagged under: corporate
Holcim Croatia investment plans for 200624 January 2006, Published under Cement NewsThe Croatian unit of Holcim says it plans to invest 37 million kuna (US$6.2m) this year, mainly in the modernisation of its production facilities. "A revamp of the factory in Koromocno is now underway, where we invest around five million kuna," Holcim Croatia said in a statement. The company said also that it was preparing a project for automated cement transportation from the terminals in Koromacno, Zadar and Jastrebarsko. It will also invest in new electricity substation, partial replac... |
Javedan improves24 January 2006, Published under Cement NewsStill awaiting the outcome of a recent court hearing regarding its privatisation and sale to the Haji Usman Ghani Group, Pakistani producer Javedan Cement reports that its financial condition is now improving after several years of losses. In 2005, the company’s production of cement was recorded at 476,420t as compared to 447,790t in the preceding financial year 2003-04, showing a 6.4 per cent increase and reaching 79.4 per cent capacity utilisation. The diirectors also note that deman... |
India’s ACC Q3 net profit quadruples24 January 2006, Published under Cement NewsAssociated Cement Companies Ltd, India’s second-biggest cement maker, said on Tuesday its quarterly net profit nearly quadrupled, including a one-time gain, on surging prices and higher sales. ACC, one-third owned by Swiss-based Holcim , said net profit rose to 1.92 billion rupees (US$43m) for the fiscal third-quarter ended Dec. 31, from 531 million a year ago. Net profit included a one-time gain of 1.1 billion rupees from the sale of its 50 per cent stake in Everest Industries Ltd. A Reuter... |
China B-shares close mixed as investors take profits23 January 2006, Published under Cement NewsB-shares in Shanghai and Shenzhen closed mixed with investors continuing to cash out after recent sharp gains, dealers said. The Shanghai B-share Index rose 0.37 points to 85.83 on turnover of US$49.22m and the Shenzhen B-share Index was down 6.42 points at 241.87 on turnover of HK$366.61m. Huaxin Cement Co Ltd fell US$0.021, or 4.28 per cent, to US$0.470. |
HeidelbergCement eyes higher profit in 200623 January 2006, Published under Cement NewsHeidelbergCement , the world’s fourth largest cement maker, aims to increase its profit and sales in 2006, its chief executive told the Frankfurter Allgemeine Zeitung, reaffirming forecasts for 2005. The company has said 2005 operating profit growth could be more than 20 per cent, depending on weather conditions, and sales could increase by up to 7.5 per cent. "With regards to sales and profit, 2006 must be better. We want to noticeably increase them again," Bernd Scheifele said. Operatin... |
Siam Cement seen posting weak Q4 on shutdowns20 January 2006, Published under Cement NewsSiam Cement(SCC) is set to report a 26 per cent fall in fourth quarter earnings on Wednesday due mainly to petrochemical plant maintenance shutdowns and high fuel costs. Risks of a downturn in the petrochemical business and lower product spreads due to weak global demand suggest SCC’s 2006 earnings would be much the same as last year, although earnings of the cement and paper businesses are set to grow. High energy costs would eat into profits of the cement and paper businesses, with cem... |
Portugal Cimpor, Secil 2005 sales down20 January 2006, Published under Cement NewsSales of Portuguese cement producers Cimpor and Secil fell in 2005 for a third year in a row, registering declines of 3.3 per cent year-on-year, according to Portugal’s Finance Ministry data reported on January 18, 2006 by Portuguese bank Millennium bcp (BCP). The overall sales for the year were mainly dragged down by the poor results in the first quarter of 2005, BCP added without providing details. Cimpor and Secil 2005 sales were below the preliminary projections of economy analysts of B... |
Valderrivas secures loan for Lemona deal19 January 2006, Published under Cement NewsCementos Portland Valderrivas said on Wednesday that it had secured bank loans worth €250 million to finance its takeover bid for fellow cement manufacturer Cementos Lemona. It said half of the funding would come from savings bank BBK, while Banco Bilbao Vizcaya Argentaria and Banco Sabadell would provide the balance in equal parts. Both BBVA and BBK are shareholders of Cementos Lemona. |
Saudi Yanbu Cement Q3 2005 net profit19 January 2006, Published under Cement NewsSaudi cement producer Yanbu Cement Company (YCC) registered a slight decrease in net profit to 122.8 mln Saudi riyals ($32.7m) for the third quarter of 2005, down from 123.3 mln riyals ($32.9m) for the same period of 2004. The decline was a result of lower sales at 184.6 mln riyals ($49.2m), against 197.1 mln riyals ($52.6m). Cost of sales dropped to 55.9 mln riyals ($14.9m), which led to a gross profit of 128.7 mln riyals ($34.3m). |
Southern Cement profits up19 January 2006, Published under Cement NewsSouthern Cement, Saudi Arabia’s largest listed cement firm reported net profits of SR615 million ($164m) today, up 12.7 per cent from the previous year Southern cement’s net profit in 2004 reached SR545.7 million, the company said in a statement. Southern Cement also said it was mulling a capital increase, but gave no further details. It said a new line under construction would start production in the first quarter of 2007, with a daily capacity of 5000t. The firm’s total output last year rea... |