Cement News tagged under: corporate
Ciments Francais H1 sales up26 July 2005, Published under Cement NewsFrench cement maker Ciments Francais posted first-half revenues of Euro 1.675bn up 10.2 per cent on the year, its parent company Italcementi said in a statement on Monday. Sales in North America rose 8.4 percent to Euro 265m, using new IFRS accounting standards, due to higher cement prices. European Union revenues grew 2.2 per cent to Euro 932m as better second-quarter sales offset a slump caused by bad weather in the first quarter. |
Australia’s Rinker may seek to buy Texas Industries’ construction unit25 July 2005, Published under Cement NewsRinker Corp Ltd may seek to buy Texas Industries Inc’s construction materials business when the US group splits its construction materials and steel-making operations on Friday, The Sydney Morning Herald reported, without citing sources. It said Rinker Corp has made no secret of its desire to make a big US acquisition and has cited Texas and California as two states where it wants to expand its US operations. TXI is the largest cement producer in Texas and a big player in California... |
GCC ups profits 34% in Q225 July 2005, Published under Cement NewsMexican cement maker Grupo Cementos Chihuahua’s (GCC) second quarter net earnings jumped 33.5% to 238mn pesos (US$22.4m) thanks in part to higher operating profits, GCC executives announced during a conference call to discuss 2Q05 results. Net profits in the first half of the year were 362m pesos, a 10.7% YoY increase. The net sales of GCC)reached 1.22bn pesos in the second quarter, up 17% on the 2Q04. The sales growth in the second quarter was the result of solid demand in all of GC... |
Cemex Venezuela 1H Profit Up 65%, helped by government spending25 July 2005, Published under Cement NewsThe Venezuelan subsidiary of Cemex managed to increase its profit levels by 65% during the first six months of the year, as the Venezuelan government continued to increase spending. Most cement demand in the country comes from private individuals in Venezuela who tend to add more space to their own homes, a sector known as "auto construction," and from the retail industry, the company noted. Seeking to capitalize on the government’s low-income construction plans, Cemex officials r... |
Siam Cement 2Q net likely down Vs 1Q, Thailand25 July 2005, Published under Cement NewsSiam Cement PCL, Thailand’s largest industrial conglomerate, is expected to report a sharp decline in second-quarter net profit from the previous quarter due to softening profit margins for petrochemical products and seasonal weakness in cement sales. The company’s performance will likely show a slight improvement over last year’s second quarter, however, as petrochemical prices and cement sales were higher compared with 2004. The cement business is expected to post softer sales on t... |
Schwenk reduces its stake in HeidelbergCement22 July 2005, Published under Cement NewsSchwenk has informed in a so-called Directors’ Dealings notification according to section 15a of the German Securities Trading Act that they have sold 15 million HeidelbergCement shares – the equivalent of 13 per cent – within the framework of the current takeover bid by Spohn Cement GmbH and that they will remain shareholder in HeidelbergCement with a stake of 7.5 per cent. The Schwenk/Schleicher family has been shareholder in HeidelbergCement since 1911 and has been represented in the c... |
Cementos Molins completes stock split22 July 2005, Published under Cement NewsSpanish cement company Cementos Molins has completed its 1:10 stock split, the company informed the Spanish securities regulator CNMV on July 21, 2005. Under the operation, the company divided each one of its old shares into 10 new shares. After the stock split, the share capital of Cementos Molins totalled 66.11 million shares. Cementos Molins invested Euro 90m in 2004, the CEO of the company, Joan Molins, told a news conference on June 30, 2005. Of this, Euro 31m was spent on a replacce... |
OCL India Q1 net up 21 per cent21 July 2005, Published under Cement NewsOCL India Ltd has reported a 21 per cent rise in net profit at Rs 14.55 crore during the first quarter of the current fiscal. The company has announced a 17 per cent growth in turnover at Rs 164.87 crore, a press release said. The company’s President, Mr Gaurav Dalmia said: "Sales continue to be strong and we are successfully containing the pressure of rising input cost". The company is engaged in cement and sponge iron business. |
TPIPL: First quarterly loss since 200221 July 2005, Published under Cement NewsTPI Polene (TPIPL) announced a Bt215m loss for 2Q05, compared to a net profit of Bt483m (inclusive of Bt538m extra gain) and Bt768m in 2Q04 and 1Q05, respectively. This was due mainly to Bt766m forex loss and the seasonally low demand for domestic cement. Normalized net profit was Bt549m, down 22 per cent y-o-y but up 15 per cent q-o-q. Profit margins will remain under pressure following the government’s recent move to float diesel price. But cement producers are expected to gradually raise c... |
OCI raises stake in Pakistan subsidiary21 July 2005, Published under Cement NewsOrascom Construction Industries said it has received approval from both the Securities & Exchange Commission of Pakistan and its shareholders to convert US$19.2m in debt it purchased earlier in the year into equity. Effectively, the conversion will raise OCI’s stake in Pakistan Cement Company from 52.5 per cent to 60.6 per cent. OCI chief executive Nassef Sawiris said: ’We believe strong growth opportunities lie ahead in the Pakistani cement market. Our appetite for additional equity in th... |