Cement News tagged under: corporate
Cementir grows in Turkey – but at what price?11 October 2005, Published under Cement NewsThe Italian Cementir Group, run by F Caltagirone Jr, through its subsidiary Cimentas, is further expanding in Turkey by acquiring the Lalapasa Edirne plant in an international auction. The plant is located in the European part of Turkey, close to the Bulgarian and Greek borders. This deal, with total value of USD 166.5m, is another step in the internationalization process started in 2001 during which Cementir has invested over Euro 800m. In 2005 the Edirne plant is expected to sell around... |
JK Corp unveils new corporate identity10 October 2005, Published under Cement NewsJK Corp said on Friday that, the Company is in the final leg of its restructuring exercise. JK Corp is hiving off its financial investments into a separate company to become a pure cement company, rechristened as JK Lakshmi Cement Ltd. A multi-business entity with interests in strawboard, paper, cement, polyester fibre, audio magnetic tapes, and others, JK Corp initiated the restructuring exercise in the year 2000 in its drive to establish different businesses into strong and focused enti... |
Bestway earns Rs 4.906bn profit during 2004-0510 October 2005, Published under Cement NewsBestway Cement, one of the largest cement producers and exporters of the country, has posted an after-tax profit of Rs4.906bn during the financial year ended on June 30, 2005 as compared to Rs3.801m last year. The company recorded an increase of 16 per cent in cement sales to 1,205,588t during the fiscal year ended June 30, 2005 against 1,039,138t in 2004. Owing to high demand to international markets for reconstruction work in the tsunami-hit areas and war-torn Afghanistan and Iraq, c... |
Court turns down petition by TPIPL creditors to stop debt discount plan06 October 2005, Published under Cement NewsThe Central Bankruptcy Court on Monday dismissed a petition filed by 11 creditors of cement-maker TPI Polene Plc (TPIPL) opposing a plan to discount part of the company’s debts. TPI Polene is a subsidiary of Thai Petrochemical Industry Plc (TPI). The plan leaves it owing Bt2.7 billion in discounted principal and interest. Prachai Leophairatana, TPI’s founder, said in a statement following the court’s order that TPI Polene’s book value had risen to Bt3.46 per share, and TPIPL would be ... |
Colombia’s Argos buys US cement companies05 October 2005, Published under Cement NewsColombian cement company Cemento Argos has bought U.S. concrete makers Southern Star and Concrete Express for a total $257.5m in the biggest ever investment in the United States by a Colombian company. Argos and subsidiary Cementos del Caribe SA will buy 100 per cent of Dallas-based Southern Star Concrete for $245m and will pay $12.5m for Concrete Express, based in Savannah, Georgia, Argos President Jose Alberto Velez told reporters. Argos is part of Colombia’s largest industrial cong... |
Tabuk Cement Profits Up 22%05 October 2005, Published under Cement NewsKhaled Al-Shathri, Chairman of the Tabuk Cement Company, announced that the company achieved SR117.2m net profit in the first nine months of the year 2005, which is an increase by 22 percent from the same period last year which was SR95.7m. The net profit for the third quarter of 2005 reached SR43.2m, compared with SR37.2m from the same period last year, according to a press statement. |
ACC bullish on TN, Kerala markets05 October 2005, Published under Cement NewsFuelled by the boom witnessed in the housing, infrastructure and industrial sectors, cement consumption in Tamil Nadu during August this year crossed 1Mt, pushing it to the top slot in cement usage among the Southern States. It is not only the industrial hubs such as Chennai or Coimbatore but even areas beyond Madurai in the South seem to be witnessing frenzied construction and the robust demand for cement is expected to continue for the next two or three years, according to senior exe... |
Thirty staff are axed at Castle04 October 2005, Published under Cement NewsAlmost a third of the workforce at Clitheroe’s Castle Cement will go as the firm struggles to come to terms with its "most intense competition for many years." Around 48 production staff at its Ribblesdale Works will be axed in the next few weeks, taking the number of workers in Clitheroe to just 110. Staff at the cement giant, which employed around 300 staff only four years ago, learned of the redundancies in a letter sent to all employees from the firm’s managing director Peter Weller.... |
Semapa 1H Net Profit EUR21M Vs EUR136M03 October 2005, Published under Cement NewsCement company Semapa said its consolidated net profit was EUR21m in the first half of 2005, down from EUR136m in the same period the previous year. The drop in profit was related mainly to the comparison figure from 2004, which included one-time gains from large stake sales in units Secil and Cimpor, the company said. Sales, meanwhile, rose to EUR751m from EUR241m, powered mainly by the acquisition of a 37 per cent stake in pulpmaker Portucel, the company said. |
Singapore’s Jurong Cement lower on H1 profit warning03 October 2005, Published under Cement NewsJurong Cement Ltd was sharply lower after it said it expects to report losses in the first half to September, citing operational difficulties in China, dealers said. The company said Beijing’s efforts to cool the Chinese economy had negatively affected cement selling prices in the first half of the company’s financial year. Power interruptions and delays in technical upgrading at one of its production lines also resulted in low sales for the period. |