Cement News tagged under: corporate
SCC expects more growth but margins down18 August 2005, Published under Cement NewsEven though Siam Cement (SCC) expected cement growth in 2H05 to be soft at 6-8%, down from 14% growth during 1H05, the company believes cement demand in the next five years will continue to grow at least 7-8% per year on the back of the mega projects. Meanwhile, they have been increasing the price of ready-mixed concrete. Though they have not increased price much, it has still helped improve EBITDA margin which had been hurt by rising oil prices. However, competitors are now preparing to ask ... |
Saudi Yamama Cement H1 2005 net profit down17 August 2005, Published under Cement NewsSaudi cement producer Yamama Cement Company (YCC) posted a net profit of 206.9 mln Saudi riyals (US$55.2m) for the first half of 2005, down 40.3 per cent year-on-year. The decrease came despite the 2.5 rise in gross profit to 224.7 mln riyals (US$59.9m) for January to June 2005. The company also registered an 8.5 per cent annual decline in total operating expenses to 17.8 mln riyals (US$4.7m) in the first six months of 2005. |
Minority shareholders of Chakwal complain17 August 2005, Published under Cement NewsWe would like to draw your attention towards the acquisition of over 51 per cent stake in Chakwal Cement company, Pakistan in November 2004 by OCI Cement Group (ORASCOM). The group finalised the negotiations and the formal completion of the acquisition took place in March 2005 (as per their web page and the accounts for the quarter ended 31st March 2005). SIGMA Leasing Corporation Ltd is among one of the minority shareholders of the company. We are of the opinion that the transaction of a... |
Heard on Johannesburg radio17 August 2005, Published under Cement NewsSouth African cement sales rose by 11.1 per cent year on year in July 2005 - for the third consecutive month it was over a million tons, I think it was 1.016-million. That obviously bodes well for companies like PPC and Barloworld. I see PPC was up two per cent today - outperforming the market quite substantially. That share is now almost R255. Yes, we do like PPC - it’s obviously a nice dividend play as well, it pays out a nice dividend yield. Over the last couple of years it’s paid out some... |
IMF team briefed on privatisation progress17 August 2005, Published under Cement NewsAn IMF mission led by Mohsin S Khan, Director, Middle East and Central Asia Department, held just a meeting with Dr Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment, Pakistan. Hafeez briefed the delegation regarding privatisation and investment policies of the government and said that during the last two years the government realised Rs 261 billion as proceeds through privatisation of 27 transactions, whereas during the first three years of General Pervez Musharraf’’s gov... |
Cemex rating raised – Moody16 August 2005, Published under Cement NewsCemex SA, had its debt rating raised one level to investment grade by Moody’s Investors Service less than six months after the company made its largest acquisition ever. Moody’s raised Cemex’s rating to Baa3, its lowest investment- grade rating, from Ba1 and said the outlook is stable. Monterrey, Mexico-based Cemex paid US$5.8 billion in March to acquire Britain’s RMC Group PLC, the world’s biggest producer of ready-mix concrete. “Cemex’s management has made progress in mitigating the nea... |
Sinai Cement almost doubles H1 net profit16 August 2005, Published under Cement NewsEgypt’s Sinai Cement almost doubled net profits for the first six months of 2005 to 65.5 million Egyptian pounds (US$11.4m), the stock exchange said in a statement on Monday. Sinai Cement’s net profit figure was 35.2 million pounds for the same six-month period last year, the brief statement said. |
MoF to guarantee French loans15 August 2005, Published under Cement NewsThe Vietnameses Ministry of Finance has been approved by the Prime Minister to sign a guarantee letter with France’s BNP Paribas Bank for a loan to finance the Thai Nguyen Cement Plant. Accordingly the loan, whose value has not been revealed, will be guaranteed by the Government of Vietnam. The under-construction Thai Nguyen Cement Plant needs a total investment of VND2.8 trillion (US$176m). It has a designed capacity of 1.5Mta and is slated for completion by 2007. The project has recentl... |
Binani Industries to divest cement stake15 August 2005, Published under Cement NewsBinani Cement, a wholly owned subsidiary of Binani Industries, India, is likely to place around 25 per cent equity stake with private equity investors. "A few investors have shown interest in picking up stake in Binani Cement," said Sunder Rajan, Executive Director, Binani Industries. He said the placement of the shares would be to fund the expansion of cement capacity and re-pay part of the debt. The company is increasing its cement capacity from 2Mta to 4Mta. However, he declined to comment... |
TPI cancels plan to sell TPIPL shares15 August 2005, Published under Cement NewsTPI informed the Thai Stock Exchange that it had cancelled the plan to sell its 31 per cent stake in TPI Polene (TPIPL) via e-auction due to the lack of bidders for the shares. TPI’s Plan Administrator is now considering whether to sell or transfer the shares to creditors as repayment for the US$250m debt, as stipulated in the TPI Rehabilitation Plan. But the unattractive conditions attached i.e. Bt1bn deposit requirement, no due diligence can be done prior to the sale, no guarantee of manage... |