Cement News tagged under: corporate
Lafarge to double spending in China12 August 2005, Published under Cement NewsLafarge, the world’s biggest cement producer, is planning to double its investments in China to about US$800m over the "next couple of years", reflecting its determination to participate in forthcoming privatisations and infrastructure projects. The company, which yesterday announced a joint venture deal with Shui On Construction and Materials (Socam), its Hong Kong-listed rival, is hoping to increase its share of China’s fragmented cement market, which has been hit by government-led attemp... |
Probe launched over Boston’s "Big Dig"12 August 2005, Published under Cement NewsUS prosecutors have launched a probe into a firm accused of using sub-standard concrete in one of the biggest public works project in US history, Boston’s $14.6 billion "Big Dig," which has been plagued by leaks and delays. Two months ago, state police raided three offices of Aggregate Industries in Massachusetts and found fraudulent paperwork used to disguise shipments of poor quality concrete, Massachusetts Attorney General Tom Reilly said on Thursday. "We found a scheme that reissued ... |
Interest in Javedan Cement11 August 2005, Published under Cement NewsThe Pakistan Privatisation Commission has received 43 expressions of interest (EoIs) for 96.34 percent shares of Javedan Cement Limited (JCL) on ’as is where is’ basis. These include Javed Kiyani (Director Chanar Sugar Mills), AKD Capital Limited, Al-Abbas Group of Companies, Al-Hamza Ship Breaking Company, Al-Karam Textile Mills(Pvt) Limited, Alloy Steel Company, Al-Munaf Steel Corporation, Alpha Gamma Technologies Inc, Amer Mahmood (Senior Manager Finance), Aqeel Karim Dhedhi Securities, A... |
Portugal Cimpor H1 2005 profit seen as lower11 August 2005, Published under Cement NewsPortuguese cement producer Cimpor - Cimentos de Portugal is expected to post a 22.8 per cent year-on-year decline in its first half 2005 net profit to a total Euro 98.6m according to projections from local investment bank Millennium bcp investimento (MBCPI) reported on August 10, 2005. According to MBCPI, Cimpor operating revenue must have reached Euro 708.5m up 4.4 per cent, and earnings before interest, taxes, depreciation, amortization and pension plan income or expense (EBITDAP) must hav... |
Saudi Qassim Cement H1 figures11 August 2005, Published under Cement NewsSaudi cement producer Qassim Cement Company (QCC) posted a net profit of 131.4 mln Saudi riyals (US$35m) for the first half of 2005, up 4.4 per cent year-on-year. Gross profit grew 8.5 per cent to 61.7 mln riyals (US$16.5m) for January to June 2005. The company registered an 8.4 per cent rise in total operating expenses to 6.0 mln riyals (US$1.6m) in the first six months of 2005. QCC’s total assets stood at 1.422 bln riyals (US$379m) at end-June 2005, up 33.8 per cent. |
Creditors to swap $250m debt for TPIPL stake11 August 2005, Published under Cement NewsThai Petrochemical Industry Plc (TPI) creditors will acquire 30.8 per cent of TPI Polene Plc in exchange for US$250 million (Bt10.3 billion) in debts, after an auction was cancelled yesterday due to a lack of bidders. The stake in TPI Polene - 249 million shares - will be acquired for $1 per share. Under TPI’s debt-restructuring plan, the court-appointed administrator was empowered to transfer the 30.8-per-cent stake to creditors if it could not be sold to another party by the third quar... |
HeidelbergCement improves in North America and northern Europe10 August 2005, Published under Cement NewsFirst half turnover rose by 7.9%, or by 7.0% on a comparative basis, to EUR 3,497.6m while the EBITDA advanced by 10.2% to EUR 534.3m. Cement and clinker shipments, which were down by 2.2% in the first quarter, advanced by 2.7% to 31.54Mt, as lower deliveries in Germany and western Europe were more than offset by higher volumes elsewhere. With only modest increases in depreciation and interest payments and a higher contribution from associates, notably a 40% rise from Vicat, the running pro... |
Readymix H1 profit slips 23%10 August 2005, Published under Cement NewsIrish cement-maker Readymix PLC said that its underlying profit has slipped 23% in the first half of the year, and warned that its cost reduction program is proceeding slower than it had expected. Trading profits excluding property disposals were at EUR7.6m, down 23%, while group turnover increased by 2.9%. Readymix said that despite the higher volumes, in the Republic of Ireland trading profits were broadly flat, reflecting the continuing impact of the competitive pricing environment... |
No takers for TPI Polene share auction, Thailand10 August 2005, Published under Cement NewsNo bids have been placed for 249 million shares in TPI Polene held by Thai Petrochemical Industry (TPI), a report in Krungthep Turakij said. According to its refinancing plan, TPI has to sell 249M TPI Polene shares in order to raise money to pay off its debts. The refinancing plan management team planned to hold an e-auction to sell the shares on 9 August but no one registered to place a bid. Earlier, six groups bought the terms of reference. Several large cement companies were reportedly... |
Dyckerhoff seen German cement demand drop by 6% to 8% this year09 August 2005, Published under Cement NewsBuzzi Unicem’s subsidiary Dyckerhoff has reported a 6.9% increase in turnover to EUR 588m for the first half of 2005, with the EBITDA improving by 17.8% to EUR 119m. Cement shipments in the period were 2.3% higher at 7.5Mt, while ready-mixed concrete deliveries advanced by 4.3% to 2.5Mm³. Capital expenditure, principally in eastern Europe and in the United States, rose by some 37% to EUR 37m. German turnover declined by 1.7% to EUR 225m as higher prices were more than offset by lower volum... |