Cement News tagged under: corporate
ACC gets approval to merge DCSL30 November 2005, Published under Cement NewsAssociated Cement Companies Ltd on Tuesday said that it would amalgamate Damodar Cement and Slag Ltd (DCSL) with itself. The shareholders at their meeting have approved the scheme of amalgamation of DCSL with the company, with requisite majority, ACC informed the Bombay Stock Exchange. The company is filing a petition with the Bombay High Court seeking their approval for the above scheme of amalgamation, it said. |
HeidelbergCement in deal with Tenir Group29 November 2005, Published under Cement NewsThe Kazakh industrial concern Tenir Group has agreed to sell its wholly-owned subsidiary Buchtarma Cement Company to HeidelbergCement. Buchtarma Cement Company trades as Vostok Cement and has in integrated works in the north-western corner of the country, some 100km to the south of Ust-Kamenogorsk with an annual capacity of 1.6m tonnes. It also includes a trading company with four terminals across the country. These terminals are supplied by rail, either from the Buchtarma works, which cu... |
JK Cement aims for captive power29 November 2005, Published under Cement NewsJK Cement Ltd is planning to raise resources from the public for establishing an additional coal-based captive thermal power plant of 40mW at its Nimbahera plant campus in Rajasthan. Managing Director Yadupati Singhania said, "We have a captive power plant based on coal as feedstock, but that takes care of only about half of our requirement. The rest is diesel-driven. Since the price of the latter has become uneconomical, there is urgent need to have another plant based on coal." Asked ab... |
Riyadh Cement may raise capital29 November 2005, Published under Cement NewsPrince Faisal ibn Abdul Majeed, chairman of the board of Saudi White Cement and Riyadh Cement, will preside over a meeting of the board to discuss a number of important topics including the plan to increase of Riyadh Cement’s capital from SR550 million to SR800 million and floating its shares for public subscription. The meeting will also discuss the setting up of a new production line, exchange of the company’s shares on the stock market and financial statements of the two companies. Accordi... |
Titan boosted by its US operations28 November 2005, Published under Cement NewsTitan’s turnover for the first nine months rose by 16.2% to EUR 994.79m, with the operating profit at the EBITDA level rising a little more slowly by 13.6% to EUR 284.9m. The slower rate of profit growth reflects the inability to fully pass on higher energy costs in some markets and higher transport and integration costs. Group shipments of cementitious products rose by some 9% to 11.5Mt, while ready-mixed concrete deliveries were ahead by around 8% to 4.1Mm³. Greek domestic cement deli... |
Argos issues new bonds25 November 2005, Published under Cement NewsColombia’s biggest cement maker Cemento Argos has issued 450bn pesos (US$197m) in bonds on the local market, the country’s press reported. The funds raised with the bond issue will be used to replace short-term debt and finance investments made by the company and its subsidiaries, according to statements. The bonds proved to be quite popular with investors, as demand outstripped supply easily, with requests for 1.5tn pesos. The yield of the bonds is indexed to inflation. The firm iss... |
Cimsa increases Jan-Sept 2005 net profits25 November 2005, Published under Cement NewsTurkish cement producer Cimsa posted a 79.44 mln new Turkish lira ($58.47m) consolidated net profit for the first nine months of 2005, up from 45.55 mln lira ($33.54m) for the same period in 2004. Operating profit stood at 102.88 mln lira ($75.76m), up from 77.55 mln lira ($57.1m). Net sales revenue was 274.695 mln lira ($202.28m), up from 231.46 mln ($170.44m). Cimsa, part of local industrial conglomerate Sabanci Holding, recently bought northern Cyprus-based sector company Ercim Cim... |
Lafarge and Boral begin Vietnam plant25 November 2005, Published under Cement NewsLafarge, the French cement company, has begun construction of a plasterboard production unit in Vietnam, in collaboration with Australian building materials group Boral, for investments of US$13m. |
Titan third quarter results improve24 November 2005, Published under Cement NewsGreek cement firm Titan is expected to report a 6 per cent rise in third-quarter net profit this week, boosted by its US operations and a rebound in the domestic market, analysts said on Tuesday. Ten analysts polled by Reuters on average forecast a net profit of Euro 64.8m with nine-month net profit seen up 3.6 per cent to Euro 142.9m "The main growth catalyst should be once again the US where pricing and volume fundamentals in Florida remain veyy positive," Citigroup said in a preview. A... |
Egyptian National Cement profit soars24 November 2005, Published under Cement NewsNational Cement Company (NCC) registered a record-high year-on-year increase of 1180 per cent in its net profit for the first quarter of the fiscal 2005/06, ending June 30, 2006, recording figures of 155m Egyptian pounds ($26.9m). The company’s operating revenue rose 41.1 per cent to 209.44 mln pounds ($36.4m), while the cost of goods sold increased 8.8 per cent to 131.73m pounds ($22.9m). |