Cement News tagged under: corporate
Sanghi out on bail05 April 2005, Published under Cement NewsIndian cement baron Ravi Sanghi, arrested by the Directorate of Revenue Intelligence (DRI), was released on bail by the chief judicial magistrate’s court in Bhuj on Friday. The country’s largest cement manufacturer, Sanghi Cement’s managing director, was arrested in Gandhidham on Monday under sections of cheating and forgery in a case of customs duty evasion of Rs 67 lakh against import of coal worth over Rs 2 crore which had been diverted to the open market thus violating export obligation... |
Eurocement Group releases operating results05 April 2005, Published under Cement NewsRussian cement group, eurocement, which recently announced that it would take over the cement assets of Inteko, produced more than 1.1Mt of cement in Jan-Feb 2005, an increase of 10.5 per cent against the figure reported in the same period 2004. For 2004 as a whole, Eurocement produced more than 9.6Mt of cement, Eurocement’s press-service said. |
Black women’s alliance takes stake in quarrying group05 April 2005, Published under Cement NewsNational African Women’s Alliance (Nawa) has acquired a 26 per cent stake in aggregate quarrying company South Coast Stone Crushers for an undisclosed sum, effectively launching the black economic empowerment investment company in the local mining arena (reports Business Day, South Africa). Nawa, which is wholly owned, controlled and managed by black women from various professions, businesses and industries, has 1000 direct women shareholders and more than 4000 direct beneficiaries. Cem... |
Eagle Materials: new wallboard plant04 April 2005, Published under Cement NewsEagle Materials Inc. announced today that its subsidiary company, American Gypsum Company, plans to build a new high-speed, environmentally friendly gypsum wallboard plant near Georgetown, South Carolina. The new plant is designed to produce approximately 750 million square feet annually. Planning of the new plant is nearly complete with construction expected to begin in late 2005. Costs for the new plant are estimated to be approximately $125m. The new plant is expected to create approximat... |
Nuh Cimento Increases 2004 net profits04 April 2005, Published under Cement NewsTurkish cement and clinker producer Nuh Cimento posted a net profit of 34.406 mln new Turkish lira ($25.6m) for 2004, up from 23.522 mln lira ($17.5m) for the previous year, according to the company’s inflation-adjusted consolidated results. Nuh Cimento and its eight subsidiaries and three affiliated companies operate in the cement, lime, ready-mix concrete, aerated concrete, machinery and spare parts, electricity production, transport, real estate, portfolio management and trade sectors. |
HeidelbergCement extends deadline01 April 2005, Published under Cement NewsHeidelbergCement AG has extended its deadline for purchasing the remaining shares in cement maker Teutonia Zementwerk AG by two weeks, a company spokesman said. The company’s voluntary takeover bid for Teutonia originally expired today. HeidelbergCement now holds 77.67 per cent of the voting rights and 56.22 per cent of the share capital of Teutonia. The target is to obtain 100 per cent of the cement maker, the spokesman said. |
India Cements, possible settlement deal01 April 2005, Published under Cement NewsIndia Cements, which is on a comeback trail by trimming losses and improving price realisation, has finalised a fresh loan at low cost with an all-India institution even as the company has struck an attractive deal with Unit Trust of India for one time settlement of the entire outstanding high cost of funds. Last December, ICL tied up with Hong Kong’s leading fund manager, Asia debt management (ADC) for raising US$149m by way of equity and debt. Of this, it has already received US$91m.... |
Adana Cimento posts higher profit01 April 2005, Published under Cement NewsCement company Adana Cimento disclosed its 2004 consolidated financials, which show that the company’s net profit climbed to TRY36.4m last year, from TRY 17.5m profit posted in 2003. Net sales of Adana Cimento stood at TRY 189.4m in 2004, against TRY 172.5m of sales revenue generated a year before. |
New face at Eagle31 March 2005, Published under Cement NewsEagle Materials Inc. announced today that D Craig Kesler has been promoted to Vice President - Investor Relations and Corporate Development. Craig joined Eagle Materials in 2004 as the Director of Strategic Planning. Prior to joining Eagle Materials, Craig served multinational audit clients in the manufacturing, retail and oil and gas industries during his tenure in public accounting with Arthur Andersen LLP and, more recently, Ernst & Young LLP in Dallas. Craig holds a B.A. in Accounting fro... |
Colombian construction sector reports positive results31 March 2005, Published under Cement NewsIn spite of the drop in growth trends, the Colombian construction sector reported positive results last year. Cement manufacturer Cemento Argos increased profits by 20 per cent due to the rise in revenue of its associated companies. Cemex sales reached COP150 bn (Colombian pesos) in the last quarter of 2004, nine per cent over the total accomplished in the same period of 2003. |