Cement News tagged under: corporate
Holcim wants higher ACC stake03 May 2005, Published under Cement NewsHolcim Ltd., the world’s second-biggest cement maker, wants to lift its stake in ACC to about 50% after failing to gain control of India’s biggest maker of the building material in a bid that ended in April. Holcim plans to raise the holding about 5 percentage points a year from the 35% it now owns, chief executive Markus Akermann said on a conference call. The Jona, Switzerland-based company is in “no hurry” to expand its stake, he added. Ambuja Cement India Ltd., Holcim’s Indian holding com... |
Conch profit plunges, China29 April 2005, Published under Cement NewsAnhui Conch Cement, China’s biggest producer of the material, has been hit by a 95 per cent plunge in first-quarter profit amid falling prices in the sector and rising coal prices, and warned that earnings will fall by more than 50 per cent in the first half. Conch said first-quarter net profit fell to CNY21.7m (HK$20.45m) from CNY443.2m a year earlier, based on mainland accounting standards. Conch said China’s implementation of “proactive fiscal policies”’ and bad weather resulted in ... |
Cemex on target to meet debt lowering, Mexico29 April 2005, Published under Cement NewsLorenzo Zambrano says he’s confident Cemex will meet or beat its goal of lowering debt this year. At a press conference, Zambrano said the sale of non-core assets would include some that were acquired along with RMC Group (RMC) of the UK, which Cemex bought for US$5.8bn in cash and debt. The RMC acquisition raised Cemex’s debt to US$10.44bn, or 3.2 times 12-months trailing earnings before interest, taxes, depreciation and amortisation, or EBITDA, at the end of March. Zambrano said C... |
Votorantim’s income reaches R$18bn over 200429 April 2005, Published under Cement NewsThe performance of the mining and metal areas of the Brazilian industrial group Votorantim surpassed the cement divisions for the first time and accounted for 27 per cent of the company’s global income or R$4.97bn in 2004, increasing by 15 per cent over 2003. Meanwhile the cement division raised income by 25 per cent to R$4.6bn in the period. Consolidated profit grew by 19.5% to R$4.13bn, 48% of which or R$1.99bn came from the metal area. Votorantim invested R$7bn last year, most... |
SCC: Operation performance28 April 2005, Published under Cement NewsFor the first quarter of 2005, Net Sales of Siam Cement Public Company Limited (SCC) and subsidiaries amounted to 57,165m baht, an increase of 31 per cent from the same period of the previous year. Net profit was 9,997m baht, an increase 36 per cent from the same period of the previous year. These increases were attributed primarily to the strong performance in most of the business units, particularly in the petrochemicals which have high products price. The total assets of SCC and ... |
Siam Cement’s Profit Surges On Strength in Petrochemicals28 April 2005, Published under Cement NewsSiam Cement PCL, Thailand’s dominant industrial conglomerate, said net profit for the first quarter rose 36 per cent to 10bn baht (US$253m) from 7.36bn baht a year earlier, mainly because of robust growth in petrochemicals income. Consolidated per-share earnings rose to 8.33 baht from 6.13 baht in last year’s first quarter. The petrochemical unit recorded a net profit of 4.89bn baht in the latest quarter, up from 3.23bn baht a year earlier. The cement business also posted strong gro... |
GCC profits fall 17 per cent on domestic construction slowdown - Mexico28 April 2005, Published under Cement NewsMexican cement maker Grupo Cementos de Chihuahua reported a 124mn-peso (US$11.2mn) net profit in the first quarter of 2005, dropping 17.1 per cent from 1Q04, company CEO Manuel Milán said during a conference call. Cement sales in the US increased 11 per cent in volume during the quarter. Combined with an average 7 per cent price hike, revenue grew 22.7 per cent over the same period to 367mn pesos in the US, he said, which "boosted top-line performance." However, in Mexico there were f... |
Lafarge North America Reports First Quarter Results27 April 2005, Published under Cement NewsLafarge North America Inc reported a first-quarter net loss of $188.5m. Excluding a previously announced one- time tax charge of $115.7m associated with the company’s decision to repatriate $1.1bn of cash from the company’s Canadian subsidiary, the net loss during the quarter was $72.8m. The results compare with a first quarter 2004 net loss of $70.8m. Every year, Lafarge North America normally reports a loss in the first quarter because its business activity slows during the winter month... |
Thai industrial conglomerate firm SCC’s Q1 profit seen up 25%27 April 2005, Published under Cement NewsNet profit of Siam Cement Plc (SCC), Thailand’s largest industrial conglomerate, in the first quarter of this year would expand as much as 25 per cent from the same quarter last year on the back of the company’s continued expansion in its petrochemical industry, according to brokers. It is expected that SCC would announce its first quarter’s net profit this week. At least five securities companies projected that SCC’s first quarter net profit would be ranging between 8.37bn baht to 9.22b... |
Florida Rock Posts Higher 2Q Profit26 April 2005, Published under Cement NewsFlorida Rock Industries Inc., a provider of ready-mixed concrete and construction aggregates, said that second-quarter earnings grew 43 per cent year-over-year due to strong demand in the company’s Florida and Washington, D.C. markets. Net income rose to $35.1m, from $24.5m, a year ago. The latest quarter includes a gain of $2.7m, from the sale of the largest portion of an abandoned quarry property near Baltimore, Maryland. Sales increased 14 percent to $260.6 million from $228.6 mil... |