Cement News tagged under: corporate
Cimpor Jan-Sept 2005 net profit seen at EUR193m23 November 2005, Published under Cement NewsCimpor - Cimentos de Portugal is expected to post a January to September 2005 net profit of EUR 193m (US$226.3m), according to estimates from local investment bank Banco Portugues de Investimento (BPI) reported on November 22, 2005. Sales are seen at EUR1.148bn ($1.346bn), while EBITDA and EBIT are seen at EUR374m (US$438.5m) and EUR266m (US$311.9m), respectively. BPI does not expect big differences for Cimpor performance in the 2005 nine month period compared to the tendencies obser... |
Semen Cibinong plans debt buyback program of up to US$20m23 November 2005, Published under Cement NewsCement maker PT Semen Cibinong said it is allocating some 10 mln usd from its internal cash flow, with an option to raise the figure to 20 mln usd, for a debt buyback program. Company director Jannus Hutapea said in a statement that the company is offering to buy back its "tranche A" shares at not more than 90 pct of its stock’s nominal price. He said that, apart from a debt haircut, the program aims to reduce the company’s forex debt exposure and dollar-denominated interest costs which have ... |
Kryvyi Rih Cement To Absorb Dniprotsement23 November 2005, Published under Cement NewsOne of the five biggest producers of cement, the Kryvyi Rih Cement company (Dnipropetrovsk region), intends to incorporate the Dniprotsement company (Dniprodzerzhynsk, Dnipropetrovsk region). The shareholders of Kryvyi Rih Cement will examine the decision to absorb Dniprotsement at their meeting on January 25, 2006. Delegates will also coordinate the merger contract and the procedure for the exchange of Dniprotsement shares to those of Kryvyi Rih Cement. As Ukrainian News reported, ope... |
Exchange Rate Losses of Indocement falling22 November 2005, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk predicted that the exchange rate loss of the company will decrease this year as the company has hedge some US$150m of its debt, while the exchange rate of Japanese Yen also has decreased (reports Bisnis Indonesia) The outstanding debt of the cement manufacturing company was US$423m, consisting of US$6.2m debt on local currency, US$148m on JPY and US$269m on US currency. Of the US$269m debt on US currency, the company has hedged some US$150m of it. Th... |
Pacasmayo net profits up22 November 2005, Published under Cement NewsThe net profits of Peruvian cement company Pacasmayo rose 12.8 per cent year-on-year in 3Q05 to US$6.11m because of higher sales volumes and cuts in costs, according to a report from Banco de Créito del PerúBCP. Pacasmayo’s net sales climbed to US$25.3m in the July-September period this year, which was an increase of 9.1 per cent compared to the same three months of 2004. This was the result of higher clinker and cement production, and an increase in sales volumes. The firm’s sales cos... |
Anhui Conch raises three-year loan by 60 per cent21 November 2005, Published under Cement NewsAnhui Conch Cement Co, China’s biggest cement maker, increased its first syndicated loan by 60 per cent to CNY800m (US$99m) as banks offered to lend more than it sought. The Wuhu-based company plans to sign the three-year loan today with 11 banks, said Oscar Tang, vice president of loan syndication at BNP Paribas SA in Hong Kong, one of the deal’s arrangers. The company initially sought 500 million yuan. Banks are keen to lend to Anhui Conch because it’s one of the most profitable ce... |
Lafarge buys back EUR80M Of Its Own Convertible Bonds21 November 2005, Published under Cement NewsLafarge SA (LR) said it has bought back EUR80m in convertible bonds, or 6.15% of a total EUR1.3bn bond launched in June 2001. The bonds mature on Jan. 1, 2006, Lafarge said in a statement. Lafarge said it bought the bonds back Sept. 22 as part of a debt-management strategy, and has canceled them. |
Kuwait Cement Co Posts $83.2m nine month net profit21 November 2005, Published under Cement NewsKuwait Cement Company posted a net profit of KWD24.3m (US$83.2m) for the first nine months of 2005, up from KWD14.6m (US$50m) for the same period of 2004. The company’s net profit rose by 33 per cent YoY to KWD10m (US$34.25m) in the third quarter of 2005. Earnings per share (EPS) rose to 25.86 fils ($0.089/0.076 euro) from 19.07 fils ($0.065/0.056 euro). Kuwait Cement was established in 1968 and was listed on the Kuwait Stock Exchange (KSE) in 1984. |
Cementos Molins net profit down18 November 2005, Published under Cement NewsSpanish cement company Cementos Molins posted a Euro 61.2m net profit for the first nine months of 2005, down 4.0 per cent year-on-year, the company informed in a statement the Spanish stock market regulator CNMV on November 16, 2005. The decrease was chiefly due to the fine, imposed on its Argentine subsidiary for cartel establishment in July 2005. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 10 per cent to Euro 135m Cementos Molins turnover totalled E... |
Sanko to spend on Gaziantep renovation18 November 2005, Published under Cement NewsTurkish textile group Sanko Holding will invest between US$20m and US$25m in the modernisation and renovation of cement mill Gaziantep Cimento, said Abdulkadir Konukoglu, chairman of Sanko Holding management board. Sanko bought cement factories Gaziantep Cimento, in southeastern Turkey, and Bartin Cimento in northwestern Turkey, previously owned by the Uzan family, in auctions held by state banking fund TMSF. The group plans further investments in sectors outside textile and expects th... |