Cement News tagged under: corporate
Raysut Cement’s rights proposal27 May 2005, Published under Cement NewsRaysut Cement, Oman, will enter the capital market with a rights issue of five million shares at a price of RO3.000 per share aggregating to RO15 million. It is believed that the company is in the process of expanding its production capacity by another 1.2Mt. Through the rights issue, the paid-up capital of the company will be increased to RO20 million from the current RO15 million. The Capital Market Authority (CMA) has approved the rights proposal yesterday. Investors to whom Times Busine... |
ING Bank boosts stake in Cimpor25 May 2005, Published under Cement NewsDutch bank ING increased its stake in Portuguese cement producer Cimpor to 2.39 per cent of the company’s voting rights, Cimpor said in a report to the Portugal’s national securities regulator (CMVM) on May 24, 2005. ING acquired a total 15 million Cimpor shares on May 20, 2005. No financial figures were available. Previously, the Dutch bank had controlled some one million Cimpor shares, corresponding to 0.15 per cent of the voting rights. |
Florida Rock resignation25 May 2005, Published under Cement NewsFlorida Rock Industries, Inc. today announced the resignation of its distinguished board member, G. Kennedy Thompson, effective May 24, 2005. Mr. Thompson has served as a director of Florida Rock Industries, Inc. since 1998. John D. Baker, II, President and Chief Executive Officer of Florida Rock Industries, Inc., speaking for the company stated, "While we sincerely regret losing Ken’s contributions to our board, we are truly grateful to him for his service over the past six years. He has m... |
Cimpor 2004 net profit up25 May 2005, Published under Cement NewsThe 2004 profit of Portuguese cement producer Cimpor grew by Euro 72m to a total Euro 262.5m due to the introduction and application of the international accounting standards IAS/IFRS, the company announced on May 23, 2005. Cimpor has earlier reported a net profit of Euro 190.4mn for its 2004 activities, according to the Portuguese official accounting standard, called POC. The introduction of IAS/IFRS in Portugal in the beginning of 2005 also had a positive impact on the company’s 2004... |
German-owned Bosnian plant25 May 2005, Published under Cement NewsGerman-owned Bosnian cement producer Tvornica Cementa Kakanj (TCK) saw its net profit rising to 16 million marka (Euro 8.2m) last year, Bosnian business news website Bh Biznis said on Tuesday. TCK told SeeNews earlier this year it had a net profit of 13.6 million marka in 2003. TCK, which is 73.94 per cent owned by German HeidelbergCement, would retain 14.4 million marka of the profit and allocate 1.6 million to reserves, Bh Biznis reported. The company’s assets totalled 144 million m... |
Taiwan Cement sees profit growth, eyes China24 May 2005, Published under Cement NewsTaiwan Cement Corp. expects sales and profit to grow more than 15 to 20 percent in 2005 from 2004 and aims to become one of China’s top three cement makers in three years, chairman Leslie Koo said on Monday. Like many of Taiwan’s industrial firms facing saturated demand at home, the island’s top cement maker sees its future in China, where it is launching an aggressive expansion plan to double annual production capacity to 20Mt by 2008. "We believe overall sales for this year will ... |
Gresik April cement sales 1.18Mt, down 0.5% YoY, Indonesia24 May 2005, Published under Cement NewsIndonesia’s largest cement maker PT Semen Gresik’s cement sales in April dropped 0.5% YoY to 1.18Mt from 1.19Mt a year earlier, with exports down 44 per cenet at 110,633 tons, according to the Indonesian Cement Association’s (ASI) monthly report. Semen Gresik’s domestic sales in the month grew 9.1% YoY to 1.06Mt from 976,538t, the report added. During the first four months to April, Semen Gresik’s total cement sales increased slightly to 4.66Mt from 4.61Mt a year earlier, it said. E... |
Adani’s plan to take over Everest hits hurdle20 May 2005, Published under Cement NewsThe proposed takeover of Everest Industries (EIL), a subsidiary of ACC, by the Adani group has hit a roadblock. ACC is likely to appoint a merchant banker for selling EIL for greater transparency. Sources say that after Holcim assumed the promoter’s mantle in ACC following completion of its open offer, the Swiss major realised that its earlier agreement with the Adani group had created a controversy and they may invite the ire of investors and regulators by proceeding with it. Instead, they... |
Saudi Arabian Cement Co Q120 May 2005, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) posted a net profit of 69.1 mln Saudi riyals ($18.4m) for the first quarter of 2005, up from 60.2 mln riyals ($16.1m) in the year-ago period. The company registered a 21.9 per cent year-on-year sales rise to 163.4 mln riyals ($43.6m) in the first three months of 2005. Gross profit grew 33.3 per cent on the year to 78 mln riyals ($20.8m) for January to March 2005. |
Adelaide Brighton expecting improvements19 May 2005, Published under Cement NewsCement producer Adelaide Brighton Ltd expects to improve on its 2004 result this year. "...Our performance is on track to meet our 2005 business plan targets and to deliver a further improvement upon our 2004 result," Adelaide Brighton chairman Malcolm Kinnaird told shareholders at the company’s annual general meeting. Adelaide Brighton announced a net profit to $81.45 million for the year to December 31, 2004, up 41 per cent on the previous corresponding period. |