Cement News tagged under: corporate
Holcim pulls out of Akhangarancement21 July 2005, Published under Cement NewsHolcim has sold its 23.6 per cent stake in Akhangarancement, Uzbekistans second largest cement plant, to Zeromax Group of the United States. The Zeromax office in Tashkent told Interfax that the deal had been made on the secondary stock market. Zeromax also purchased a 1.4 per cent in the plant from one of the minority shareholders. Holcim apparently bought 25.6 per cent in the Uzbek cement plant on the secondary stock market in 1998. The Swiss company then won an international tender to b... |
Peru’s Cementos Lima 2Q Net21 July 2005, Published under Cement NewsHigher operating costs helped drive down Cementos Lima SA’s second-quarter net income to 20.8 million soles compared with PEN25.4 million in the same quarter last year. The company released the financial results to the Peruvian regulatory agency, Conasev, on Wednesday. Cementos Lima said that cement production in the second quarter rose 0.2 per cent to 634,879t. It said that cement output rose 8.7 per cent in the first half of the year to 1.18Mt compared with the same period a year before. ... |
Siam Cement to post flat Q220 July 2005, Published under Cement NewsSiam Cement (SCC) Thailand, is set to report flat quarterly earnings from a year ago but a 20 per cent slump from the previous quarter on softer petrochemical prices and high fuel costs. But the second-half prospects for the firm, seen as a barometer of Thai corporate health due to its diverse interests ranging from cement, petrochemicals to paper and a staple in foreign portfolios, were brighter, analysts said. "The second quarter is a poor one for SCC due to seasonality, chiefly the ar... |
Turkish Kurtalan Cimento sees improved turnover20 July 2005, Published under Cement NewsTurkish cement producer Kurtalan Cimento expects a turnover of 75m new Turkish lira (Euro 46.8m) for 2005, compared to 60 mln lira (Euro 37.4m) in 2004, it was reported on June 19, 2005. The factory has increased its daily cement production to 3000t from 2700t in 2004. The company expects to produce 850,000t of cement in 2005. The increase was due to a higher demand on the domestic market and exports to Iraq, the company general director Gultekin Aksuyek said. Kurtalan Cimento exported 300,... |
Ciments Francais considers TPIPL stake20 July 2005, Published under Cement NewsBangkok Bank PCL, Thailand’s largest commercial bank, is teaming up with France’s Ciments Francais to bid for a stake in TPI Polene PCL Krungthep Turakij newspaper reports, quoting a financial adviser source. Bangkok Bank and Ciments Francais are seeking to acquire a 30 per cent stake, or 249 million shares, in TPI Polene, Thailand’s third-largest cement maker, the paper said. There are four other groups of bidders for the TPI Polene stake, reportedly including consortia led by Mexico’... |
Shui On to expand cement business by acquisition19 July 2005, Published under Cement NewsShui On Construction and Materials Ltd. announced its annual results for the year ended 31 March 2005. The net profits of the group reached HK$483m, an increase of 2.27 times. The project of Ruihong New Town and Yangtze Ventures contributed most to the profit of the group. Shui On will continue to focus on property development and venture capital investment in Hong Kong and China. Shui On has seen the business of building materials losing HK$97m during the period. Although the prospects... |
Zuari Cements workers plan protest18 July 2005, Published under Cement NewsContractual workers of Zuari Cements Ltd at Yerraguntla will obstruct the Chief Minister Y.S. Rajasekhara Reddy’s convoy during his proposed visit to the district on July 27, the AITUC State secretary and Zuari Cements Staff and Workers’ Federation president, G. Obulesu, warned on Sunday. Contractual workers in Zuari Cement unit were denied minimum wages although their counterparts in India Cements Ltd., Rayalaseema Thermal Power Plant and other firms were being paid minimum wages fixed by ... |
Siam Cement gives financial donations18 July 2005, Published under Cement NewsMr Chumpol NaLamlieng, President of The Siam Cement Public Company Limited, presided over the presentation ceremony of the financial donation to 40 foundations and charitable organizations throughout the country. The goal is to support activities that are beneficial to society and to help promote a better quality of life for Thai people. The Siam Cement Group’s charitable giving program is part of the group’s philanthropic efforts that are carried out every year. The donation is allocated fr... |
Ras al Khaimah cement company posts profit increase18 July 2005, Published under Cement NewsAccording to local reports the Ras Al Khaimah Cement Company posted Dh 54.5 million net profits in the first half of the current year compared to Dh 23.1 million of the same period last year. In a statement distributed yesterday by the Emirates Securities and Commodities Authority, the company said that profit is higher than the budget estimates for the first six months of this year, considering that production was suspended for 19 days during last April in order to carry out annual maintenan... |
Andhra Cement to retire loans18 July 2005, Published under Cement NewsAndhra Cement, Calcuttam India will restructure its high-cost debt in the next three months. Only then will the board decide whether to sell the company or retain it and expand further. Andhra Cement chairman GP Goenka told reporters, “We are currently engaged in the debt restructuring exercise. Once that is done, the board will decide whether to sell the firm or improve its capacity.” Earlier, reports said some of the big names in the cement industry — both domestic and foreign — had bee... |