Cement News tagged under: corporate
Madras Cement net up31 October 2005, Published under Cement NewsMadras Cements has posted a 43.8 per cent jump in net profit, at Rs 18.8 crore for the quarter ended September 30, ’05, compared with Rs 13.1 crore in the corresponding period last year. Topline grew 25.5 per cent to Rs 246.1 crore. The board has declared an interim dividend of 50%. During the quarter, total expenditure was higher at Rs 194.7 crore (Rs 153.9 crore). This included higher raw material consumption at Rs 37.4 crore (Rs 31.7 crore), increase in power & fuel costs at Rs 71 crore (... |
Vulcan Materials Reports Record Third Quarter28 October 2005, Published under Cement NewsVulcan Materials Company, United States, today announced record net sales of US$749m and record net earnings of US$122m, or US$1.17 per diluted share in the third quarter. These amounts represent a 15 per cent increase in net sales and a 23 per cent increase in net earnings from the prior year’s levels. Earnings from continuing operations increased 39 per cent to US$128 million, or US$1.23 per diluted share. Discontinued operations - comprised of the Company’s former Chemicals business - rep... |
JP Morgan to take 25 per cent in Binani Cement28 October 2005, Published under Cement NewsJP MORGAN will acquire 25 per cent stake in Binani Cement Ltd, India as part of a debt and equity arrangement worth Rs 250 crore. The transaction will enable Binani Cement double its cement capacity from 2.25Mt to 4.5Mt at a cost of Rs 450 crore, said a news release from Binani Cement Ltd. Mr Braj Binani, Chairman of Binani Group said the partnership would enable rapid growth for Binani Cement. "This unique transaction structure enables Binani Cement to achieve multiple objectives ... |
GCC reports record results27 October 2005, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) now a leading cement producer in its markets in Mexico, United States and Bolivia, today announced its consolidated results for the quarterly period ended September 30, 2005. Increases of 12.9 per cent in sales, 21.4 per cent in EBITDA and 33.9 per cent in net income in the third quarter reflected growing demand for cement in the United States and the solid dynamics of the construction industry in Mexico. In September 2005, GCC took an important step fo... |
Peru’s Cementos Lima 3Q27 October 2005, Published under Cement NewsHigher operating costs reduced Cementos Lima SA’s third-quarter net income to 21.7 million soles ($6.4m) compared with PEN21.9 million ($6.5m) in the same quarter last year, it announced Wednesday in financial results released to the Peruvian regulatory agency, Conasev. Operating revenues rose to PEN171.2 million ($50.6m) in the third quarter compared with PEN139.3 million ($41.1m) in the same period a year earlier. Operating costs rose in part due to higher coal costs, the company said. ... |
Anhui Conch seeks more loans27 October 2005, Published under Cement NewsAnhui Conch Cement Co Ltd, China’s largest cement producer, is seeking a three-year loan of 350 mln yuan (approx US$44m) to help fund a heat-conversion project that could help it save up to 500 mln yuan per year, The Standard reported, citing banking sources. The Hong Kong-based newspaper said the loan, which is being arranged by BNP Paribas, is the company’s second fund-raising exercise in a month. It secured a 10-year loan of 650 mln yuan from International Finance Corp two weeks a... |
Sabanci cement group plans more investments27 October 2005, Published under Cement NewsErhan Kamisli, head of Sabanci Holding cement group, said that they planned US$600m investment in 2005-2008 period, including US$316m worth of cement plant purchases. Sabanci’ Cimsa and Akcansa recently gave best bids for Eskisehir Standart cement plant and Ladik cement plant respectively, which were previously owned by Uzan Group and tendered by SDIF (Saving Deposit Insurance Fund). Kamisli said that Akcansa and Cimsa would make US$135m and US$50m investments in coming years. According to K... |
Pushka ends Baturina chair function27 October 2005, Published under Cement NewsThe shareholders of the Kramatorsk-based cement plant Pushka (Donetsk region) at their October 18 meeting, have relieved Olena Baturina from the post of chairwoman of supervisory board. Baturina is a wife of Moscow mayor Yury Luzhkov, and she controls Inteko company (Moscow). Besides this, the shareholders have relieved Viktor Baturin, Oleh Soloschanskyi, Kostiantyn Edel and Volodymyr Huz from their posts of members of supervisory board, and appointed Misak Kacheyants, Volodymyr Stupa... |
Siam Cement Q3 profit down but beats forecast26 October 2005, Published under Cement NewsSiam Cement PCL , Thailand’s top industrial conglomerate, posted a 30 per cent fall in third-quarter profit as high oil prices squeezed petrochemical spreads and cement margins, but the result beat expectations. Risks of strong oil prices continue to weigh on the company’s outlook, although analysts expect prices of its petrochemical products to remain firm over the next two years due to limited new supply from the Middle East and China. The company also plans to hike cement prices next ... |
Raysut Cement net profit up26 October 2005, Published under Cement NewsOman’s cement producer Raysut Cement increased its net profit by 29.2 per cent year-on-year to 7.04 mln Omani rials (US$18.29m) in the first nine months of 2005, it was reported on October 25, 2005. The company’s operating income grew by 37 per cent to 21.02 mln rials (US$54.6m). Raysut Cement sold 891,907t of cement in the period, up by 19 per cent. |