Cement News tagged under: corporate
Jidong Cement sells stake to HeidelbergCement26 September 2005, Published under Cement NewsTangshan Jidong Cement Company Limited has recently signed an agreement to form a joint venture to produce and market cement in Shaanxi province of Northwest China with HeidelbergCement Holding Hong Kong. Tangshan Jidong is the largest cement producer in eastern part of China and Heidelberg Hong Kong is a wholly owned subsidiary of Heidelberg Cement, one of the world’s leading producers of cement, concrete and building materials. According to the agreement, Jidong Cement will sell 45.77 ... |
TPI Polene share bid draws only one bid26 September 2005, Published under Cement NewsOnly one bid was accepted on Tuesday in the auction of a 249-million-share block of TPI Polene, made by a Thai construction company offering just 17 baht per share, the Bangkook Post reports. The low bid, at 11.50 baht below current market prices, adds a new complication to the $2.7-billion debt-restructuring saga of Thai Petrochemical Industry. Bidding on Tuesday was the second attempt, after an electronic auction last month failed to attract bidders. TPI plan administrators are sellin... |
Cementos del Caribe may issue US$260mn in bonds23 September 2005, Published under Cement NewsThe board of Cementos del Caribe, the newly consolidated Colombian cement company, has asked its shareholders to back the issue of bonds to finance short, medium and long-term projects, local press reported. The shareholders assembly has approved the proposal and Cementos del Caribe may now issue up to 600bn pesos (US$262m) in long-term bonds at seven, 10 or 12 years. "The main objective is to replace short-term credit that the company has and finance projects that tend to optimize t... |
Texas Industries posts loss on spinoff costs23 September 2005, Published under Cement NewsTexas and California cement producer Texas Industries Inc. on Thursday reported a quarterly loss on debt retirement costs and other expenses related to the spinoff of its steel unit. Texas Industries posted a loss of $51.3m, or $2.25 per share, for the fiscal first quarter ended Aug. 31, compared with a year-earlier profit of $35.9m, or $1.68 per share. The company said the costs and expenses related to the spinoff of Chaparral Steel came to $73.4m, or $3.22 per share. Excluding t... |
CLL Cement producer quits public trading22 September 2005, Published under Cement NewsCement producer Cementaren Lietavska Lucka, a.s. (CLL) is withdrawing its shares from the Bratislava Stock Exchange (BCPB). The company shareholders decided on the withdrawal at their extraordinary general meeting on September 13 CLL is now obliged to announce a mandatory buyout bid for all the company shares. CLL reported sales at SKK 93.5m for the first half of this year, which is a YoY increase of 12 per cent. The company generated added value at SKK 37.4m six months into 2005, which is SK... |
DG Khan Cement posts over double its last FY profit22 September 2005, Published under Cement NewsKhan Cement at the end of June 2005 fiscal year earned a net profit surpassing even double the amount of the previous year, however, the stakeholders’ expectations regarding bonus shares remained a far cry. The company posted a net profit of Rs1.68bn in 2004-05 as compared to Rs830m during previous fiscal year, 2003-04, according to the results released here in stock exchange. The experts told that the boost in profit was attributable to cement sales besides income to the company from ... |
Italcementi net profit at EUR 213.3m21 September 2005, Published under Cement NewsItalcementi ended the first half of 2005 with a net profit of EUR213.3m down 2.2% compared to the same period of 2004. The company’s consolidated revenue stood at EUR2.4bn(US$2.93bn), up 6.2% and operating profit dropped 11.8% to EUR328.1m. Investments went up 165 pct to EUR 383.2m (US$468.9m). The net financial debt, calculated as the difference between the company’s financial debts and liquid assets, totalled EUR2.1bn ($2.570 bln) on June 30, 2005, up by EUR365.3m ($446... |
EU OKs HeidelbergCement To Buy 50% Of Belgian Mermans21 September 2005, Published under Cement NewsThe European Commission cleared Germany’s Heidelberg Cement) to take a 50% share of Dutch cement company De Hoop Terneuzen BV’s Belgian subsidiary, Mermans Beton. |
Heidelberg Cement sets up joint venture in China21 September 2005, Published under Cement NewsHeidelberg Cement, the German cement group, has set up a joint venture in China together with Chinese competitor Tangshan Jidong Cement, which will produce and distribute cement from a production plant in the province of Shaanxi. The joint venture will produce 1.8Mt of cement this year at its first production plant, but will soon construct a second factory close to Xian, which will increase the joint venture’s annual production capacity to around 4Mt of cement. |
Italcementi H1 EBITDA flat as Egypt inclusion offsets weak Italy15 September 2005, Published under Cement NewsItalcementi SpA’s first half EBITDA due on Friday is expected to be broadly flat, with the first-time inclusion of its Egypt acquisition Suez Cement, offsetting weak Italy activities, analysts said. Net profit is seen at EUR156.8-166m, against 129.4m a year earlier, EBIT EUR359-380m, against EUR348.6m, EBITDA 510-545m, from 538.2 mln, and sales 2.388-2.404 bln, from 2.262 bln. ’Our forecast of flat performance is based on a sharp drop in the Italian contribution (down 28 mln eur) a... |