Cement News tagged under: corporate
IBT Securities buys Taiwan Cement shares13 October 2005, Published under Cement NewsIBT Securities was a net buyer of 2.29 mln shares in Taiwan Cement Corp between Sept 19 and Oct 7, the Economic Daily News reported, without citing sources. The proprietary trading department of Taiwan-based IBT Securities conducted the purchases of Taiwan Cement stock over the past three weeks. Taiwan Cement will next appoint board members at next year’s annual meeting, it added. |
Turkey Sells Bartin for $48m13 October 2005, Published under Cement NewsTurkey’s Savings Deposits Insurance Fund, or TMSF, sold the Bartin Cement Factory for $48m to domestic cement producer Cimko Cim. ve Beton San. Tic. AS, or Cimko the Ihlas News Agency, or IHA, reported Wednesday. TMSF’s reserve price for Bartin Cement was $22m. The auction is part of the sale of the seized Uzan Group’s cement assets. TMSF will sell the remaining six factories in separate auctions until Oct. 20. |
Dalmia Cement to hive off sugar division13 October 2005, Published under Cement NewsDalmia Cement (Bharat) Ltd, which has interests in cement and sugar, plans to restructure itself into companies that deal with these two businesses separately. It has floated a subsidiary, Ramnagar Chini Mills Ltd, to undertake sugar manufacturing activities. The company now plans to hive off its sugar division to this new company, for which it will seek its shareholders approval through a postal ballot. According to Dalmia Cement, it is in the process of examining various options to conv... |
Attock Group donates Rs 45 million12 October 2005, Published under Cement NewsThe Attock Group of Companies has announced a contribution of Rs 45 million towards the President’s Relief Fund for the earthquake victims. The employees of the group, which includes Pakistan Oilfields Limited, Attock Refinery Limited, National Refinery Limited, Attock Petroleum Ltd and Attock Cement Pakistan Limited have also decided to donate two-day salary to this noble cause. In addition the Attock Oil Company Limited and Attock Refinery Limited have actively undertaken relief activitie... |
Thai TPI Polene Q3 profit jumps on debt gain12 October 2005, Published under Cement NewsTPI Polene PCL , Thailand’s third-largest cement maker, said on Wednesday its third-quarter earnings surged, due mainly to gains from restructuring the company’s hefty debts. TPIP reported a net profit of 3.2 billion baht ($78 million), or 4.10 baht per share, versus a 141 million profit in the same period year ago. The earnings were in line with analyst expectations of about 3.25 billion baht. Excluding the 2.6 billion baht gain from debt restructuring, the company posted an operating pr... |
Sabanci Group offers $175.5m12 October 2005, Published under Cement NewsThe Turkish Savings and Deposit Insurance Fund (TMSF) held a tender for the Standart Cement plant, previously seized from the Uzan family. Some 22 companies submitted their bids for the privatization of the Standart cement factory, which was put up for sale at a price tag of $62m. Sabancı Group, Turkey’s second largest, made the highest bid in the auction to buy the Standart Cement factory, which is located in the province of Eskisehir. |
Italcementi eyeing acquisitions in India, Thailand12 October 2005, Published under Cement NewsItalcementi SpA is eyeing acquisition opportunities in India and Thailand, said Giorgio Ghinaglia, managing director at the cement maker’s Egyptian unit Suez Cement. "We want to grow in India and Thailand, also through acquisitions," he was quoted as saying by daily Finanza & Mercati. On Egypt, Ghinaglia said that the operations in the country will contribute by US$450-500m or by 8-10 per cent to the group’s sales in 2006. |
Lafarge Appoints New Executive VP For Strategy, M&A11 October 2005, Published under Cement NewsLafarge SA (LR) Tuesday named Jean Desazars as Executive Vice President responsible for Strategy and Development. The company said the executive will fill a newly-create position. Desazars will be responsible for "permanent reviews of the group’s strategy, its business portfolio and its main axes for growth, in light of general market trends and the major global challenges facing the business sectors in which Lafarge operates," the company said in a statement. The executive will also lead... |
Spain Cementos Lemona Jan-Sept 200511 October 2005, Published under Cement NewsSpanish cement maker Cementos Lemona posted a net attributable profit of Euro 16.3m for the first nine months of 2005, a surge of 77 per cent year-on-year, company insiders said on October 10, 2005. Earnings before interest, tax, depreciation and amortisation (EBITDA) of the company reached Euro 32.4m rising 73 per cent. The cash-flow of the cement maker totalled Euro 28.2m up 54 per cent. The cement sales of Cementos Lemona stood at 655,874t between January and September 2005, up 44... |
Bestway Cement declares cash dividend11 October 2005, Published under Cement NewsBestway Cement, Pakistan, has posted an after-tax profit of Rs 931 million during the financial year ended June 30, 2005, showing an increase of 37 percent from Rs 3,801 million earned last year. The company announced a cash dividend of 10 percent and bonus of 1 share for every 10 shares. The company recorded an increase of 16 per cent in cement sales to 1,205,588t from 1,039,138t in last fiscal year. In rupee terms the sales rose to Rs 4.906 billion. Capacity utilisation of Bestway Cem... |