Cement News tagged under: corporate
Cemex continues to prosper17 October 2005, Published under Cement NewsCemex could have tripled its net profits in the third quarter of this year thanks to its acquisition of British firm RMC and gains from exchange rate fluctuations, according to Mexican newspaper La República. A survey of six sector analysts showed that their average forecast for Cemex’s net profits in July-September was US$634m, while the company actually made US$247m in the third quarter of 2004. In March this year Cemex finally wrapped up its acquisition of RMC for US$5.8bn, thus boosting... |
Votorantim restructures cement business17 October 2005, Published under Cement NewsVotorantim, the Brazilian industrial group, is restructuring Votorantim Cimentos (VC), its cement business. The group has appointed the engineer Walter Schalka as the new chairman of its cement division. Mr. Schalka, who comes from Dixie Toga, will replace Luiz Vilar de Carvalho on the 1st November 2005. Mr. Carvalho will remain in the company’s board of directors. One of the new chairman’s challenges will be the strengthening of the company’s internationalisation process, in which the compan... |
India Associated Cement 2Q Net17 October 2005, Published under Cement NewsIndian cement major Associated Cement Companies Ltd. said its fiscal second-quarter net profit jumped 154 per cent on year because of a one-time gain from the sale of its refractory business. Net profit for the July-September quarter rose to INR2.04 billion from INR802 million, including a profit of INR1.73 billion from sale of its refractory business, a non-core business which ACC sold in July for INR2.57 billion. In a notice to the stock exchange, ACC noted that industry sales have ris... |
Adelaide Brighton director buys17 October 2005, Published under Cement NewsAdelaide Brighton director Duilio Barro directly and indirectly bought bought 120,089 ordinary shares worth A$240,178 on-market between October 10 and 11. The price was A$2. The director previously held 13,731,849 ordinary shares and now the director holds 13,851,938 ordinary shares. Shareholders in AdBri have seen the value of A$1000 invested one year ago was A$1302, including a capital gain of A$245 and dividend of A$56.The total return to shareholders for one year is 30.17 per cent. ... |
HeidelbergCement expands its presence in Turkey14 October 2005, Published under Cement NewsAkçansa, a joint venture of HeidelbergCement and Sabanci Holding, has acquired the Ladik cement plant in an auction process carried out by the Turkish government. The plant with a clinker capacity of approximately 580,000t has a good market position due to its favourable location in the Black Sea region. With its bid of US$140m Akçansa won the auction in a tough competition. Akçansa, the leading cement and ready-mixed concrete producer in Turkey, has operations mainly in the Istanbul area... |
Pakistan profits from earthquake disaster!14 October 2005, Published under Cement NewsThe devastating earthquake that has left over two million Pakistanis homeless is expected to trigger a huge demand for cement as the country begins its biggest ever reconstruction exercise. Share prices of cement firms are on the rise even as reports of damage continue to pour in. "It (the earthquake) is a blessing in disguise for the cement industry," said Arshad Arif, head of research department at KASB Group. "I think it will be a multibillion dollar rebuilding exercise over the nex... |
Chilean industry plans US$134m investments14 October 2005, Published under Cement NewsThe three companies that make up Chile’s cement industry - Bío Bío, Melón and Polpaico - are planning to invest a total of US$134m in 2006 given the record sales expected by the industry this year, newspaper Estrategia reported. Cementos Bío Bío, controlled by Chile’s Briones group, has planned the largest investment of US$100m for installing new silos at its plant in CuricóRegion VI), opening a new coal mill in Antofagasta and finding alternative energy sources to gas. In the meantime... |
Sabanci takes the Standart prize13 October 2005, Published under Cement NewsSabanci Holding was unable to deter Cimentas, a subsidiary to the Italian Cementir Group, from taking over control of one of the cement factories that the Turkish Savings and Deposit Insurance Fund (TMSF) had been financing. However, in its second attempt, Sabanci Holding managed to get revenge for their earlier failure. In the tender for Standart Cement, Eskisehir, one of the nine cement factories sequestrated in exchange for debts of the Uzan Group, Cimsa made the highest offer of $175.5m.... |
Portugal BPI Ups Stake in Semapa13 October 2005, Published under Cement NewsPortuguese investment bank Banco Portugues de Investimento (BPI) increased its participation in local cement company Semapa to 6.7 per cent of the share capital, it was reported on October 12, 2005. The new stake accounts for 6.86 per cent of the voting rights in Semapa. BPI’s pension fund manager unit BPI Pensoes - Sociedade Gestora de Fundos de Pensoes SA acquired on October 6, 2005 a total 1,043,301 Semapa shares for the funds it manages. No financial details were available. The sa... |
Wahana Tata Ready to Pay Lafarge’s Claim13 October 2005, Published under Cement NewsPT Asuransi Wahana Tata promised to pay the insurance claim of PT Semen Andalas Indonesia following the conclusion of loss assessment by independent loss adjuster. Robert Jeremia, the President Director of PT Wahana Tata, said that until today the company was still waiting for the loss assessment on the cement manufacturing plant of Lafarge Group severely hit by tsunami disaster at the end of last year. "The claim of Lafarge is still waiting for the assessment of loss adjuster. But th... |