Cement News tagged under: corporate
Cemex increases share offering03 October 2005, Published under Cement NewsMexico’s cement maker Cementos Mexicanos (Cemex) posted an increase of 3,993,000 securities in the global secondary share offering it made, as demand was oversubscribed. Resources gained with the placement added US$1.5bn, of which US$1.3bn will be earmarked for paying future purchase contracts. This abstract is provided by Internet Securities, Inc. as a service to its customers. Internet Securities, Inc. makes no representation or warranty regarding the accuracy or content of the tra... |
H+H moves into Poland03 October 2005, Published under Cement NewsH+H International is aiming to consolidate its position as Europe’s second largest producer of aerated concrete by signing a conditional agreement to acquire four aerated concrete plants in Poland. Three of the four plants, which have a combined current annual production capacity of around 0.8Mm³ and an output last year of 675,000m m³, primarily serve the greater Warsaw market. The fourth, Prevar, is in the south of the country, near Krakow. Poland, with an annual consumption of some 4.3m... |
Greek cement firm Heracles’ H1 profit drops30 September 2005, Published under Cement NewsGreek cement maker Heracles , majority owned by France’s Lafarge , reported on Thursday a 30.9 per cent drop in its first-half pretax profit to 28.4 million euros. "Favourable weather and demand conditions during the second quarter of 2005 mitigated the negative impact of the completion of the Olympic projects," the company said in a statement. Group sales in the first half fell 3.7 per cent to Euro 286m. Export turnover increased 42 per cent during the first six months of the year, the ... |
Mexican GCC To Expand in South America, USA30 September 2005, Published under Cement NewsMexican cement maker Grupo Cementos de Chihuahua (GCC) will expand operations in South America and the United States in a mid term, the investor relations director of the company, Luis Carlos Arias, said on September 28, 2005. At the beginning GCC will invest $80 mln (66.32 mln euro) to buy cement plants or cement companies in the USA or South America, Carlos Arias added. The company studies at present projects for the purchase of plants in the regions quoted. GCC recently bought a 46.57 pe... |
SEC approves Fortune Cement Merger29 September 2005, Published under Cement NewsThe Philippines’ Securities and Exchange Commission has approved the merger of Fortune Cement Corp and Continental Operating Corp., with Fortune Cement as the surviving entity. The merger was first disclosed in June. The regulator also approved Fortune Cement’s increase in authorized capital to PHP4.232 billion from PHP3.032 billion. The new authorized capital is divided into 4.20 billion common shares and 32 million preferred shares, all of which will have a par value of PHP1. |
Cemex Completes Secondary Share Offering29 September 2005, Published under Cement NewsMexican cement maker Cemex SA completed its secondary share offering Wednesday, raising about $1.53 billion, the Mexican Stock Exchange said. The exchange said in a press release that including over-allotments, Cemex placed 80.5 million CPO shares at 53.89 pesos each in Mexico, and 22.9 million American Depositary Shares at US$49.50 an ADS in international markets. The secondary offering is related to company stock options, which triggered when Cemex shares broke above the knock-out pri... |
Mexico’s Cemex set to price $1.5 billion ADR offer28 September 2005, Published under Cement NewsMexico’s Cemex will fix the price of a share offer worth around $1.5 billion after the stock market closes on Tuesday. Cemex plans to sell 27 million of its American Depositary Receipts (ADRs), currently trading near all-time highs, from a trust that has held them against forward contracts with banks as part of an executive stock option scheme. Analysts have said the sale should raise close to $1.5 billion and company directors have said obligations to the banks would be around $1.3 bi... |
Boral upgrades and builds on Oracle platform27 September 2005, Published under Cement NewsBoral has revamped its information technology department, rolling its technical operations into an existing shared services centre that does much of the company’s back-office processing. Boral, which began introducing Oracle 11i in July, has merged its internal technology group with the shared services centre, which handles administrative functions. The new department will be headed by chief information officer Kelvin McGrath. The changes come as the company moves to install Oracle ... |
Holcim Maroc H1 2005 net profit up27 September 2005, Published under Cement NewsHolcim Maroc, a subsidiary of Swiss cement maker Holcim, posted a consolidated net profit of 169 mln Moroccan dirhams ($18.6m) for the first half of 2005, up by 2.2 per cent year-on-year. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 2.8 per cent to 295 mln dirhams ($32.4m). Consolidated turnover totalled 828 mln dirhams ($91m), an increase by 5.8 per cent. |
CCC posts US$4.7m in 1H05 profits26 September 2005, Published under Cement NewsJamaica’s Caribbean Cement Company (CCC) posted a J$294m (US$4.7m) net profit during 1H05, practically unchanged compared with the same period last year, when it reached J$293m, newspaper Jamaica Gleaner reported. The company’s revenues increased 15.1 per cent to J$3.1bn thanks to a 16.7% growth in the volume of cement sales compared to 1H04. Operating profit over the period decreased 4.3 per cent to J$412m in 1H05, due to higher external costs caused by shifting prices of oil, steel and tr... |