Cement News tagged under: corporate
Anhui Conch profit increase23 March 2005, Published under Cement NewsAnhui Conch Cement Co., China’s dominant cement producer, reported a 29 per cent rise in its 2004 net profit, buoyed by strong demand. Anhui Conch posted net profit of 960.9 million yuan (US$116.1m) for the year, up from 743.4 million yuan in 2003. Revenue rose to 8.33 billion yuan from 5.65 billion yuan. A major supplier of high-grade cement to fast-developing southern and eastern China, Anhui Conch benefited from high demand from infrastructure projects and high prices last year. But compet... |
Minetti takes Bolivian concrete company23 March 2005, Published under Cement NewsArgentina: Juan Minetti, a subsidiary of Holcim, has taken control in the Bolivian based concrete company Corcecruz, pushing up its stake from 50 per cent to 100 per cent. The deal, estimated at US$450,000, was actually a swap of debts held by individual shareholders of Corcecruz with Minetti. Corcecruz is to be liquidated soon, as part of a strategy of Minetti to divest in non core businesses. |
Sebi yet to clear Holcim offer for Ambuja Eastern22 March 2005, Published under Cement NewsThe Securities and Exchange Board of India (Sebi) has not yet given its nod to Holcim’s open offer to the minority stakeholders of Ambuja Cement Eastern even as Holcim’s open offer for acquiring up to 50.1 per cent stake of the Associated Cement Companies (ACC) was cleared last week after a fortnight’s delay. The open offer for ACC is now scheduled to begin on March 23 and close on April 11, instead of the original date of March 9. The Life Insurance Corporation of India (LIC), which current... |
Holcim offer for ACC may open on March 2321 March 2005, Published under Cement NewsHolcim’s open offer for Associated Cement Companies will be rescheduled to commence mid-week next, most likely on March 23. The offer has received clearance from the Securities and Exchange Board of India, sources close to the deal said. The open offer was originally scheduled to commence on March 9, but had to be postponed because as late as one day before that, SEBI had still not granted approval to Holcim. Officials handling the deal had said that the delay was likely on account of the... |
Dyckerhoff adjusted net profit up21 March 2005, Published under Cement NewsGerman building materials manufacturer Dyckerhoff AG, controlled by Italian cement and concrete company Buzzi Unicem, reported a net profit of 41 mln euro ($54.8 mln) for 2004, up 36 per cent year-on-year, the company said on March 18, 2005. Dyckerhoff’s net profit stood at 248.9 mln euro ($332.7 mln) in 2003, including 218.8 mln euro ($292.5 mln) from the sale of Dyckerhoff’s stakes in German cement manufacturer Anneliese Zementwerke AG and Spanish sector company Cementos Hispania S.A. Sale... |
Lafarge Ciments Appoints HR Director21 March 2005, Published under Cement NewsLafarge Ciments, the cement division of French building materials group Lafarge, appointed Alain Guillen, 44, human resources (HR) director, it was reported on March 18, 2005. Prior to the appointment Guillen occupied the position of director of social policy for the Lafarge group, in charge of the social policies such as employment, health, safety and human rights. He will be replaced at the position by Patrice Lucas. Guillen joined Lafarge in 1989 as administrative and personnel mana... |
Tasek to set up plant in Vietnam21 March 2005, Published under Cement NewsTASEK Corp Bhd will set up a joint venture with Saigon Cement Joint Stock Company in Vietnam to establish a cement manufacturing plant in Ho Chi Minh City, Vietnam. Tasek will own 51 per cent of the joint venture with the balanced owned by Saigon Cement. |
Italcementi revenue up18 March 2005, Published under Cement NewsRevenues for Italian cement producer and distributor Italcementi SpA rose by 5.7 per cent year on-year to Euro 4.528bn in 2004. The company’s net financial debt dropped to Euro 260m from Euro 1.537bn. The parent company posted a net profit of Euro 165m up by 7.4 per cent and a revenue of Euro 953m up 4.5 per cent. |
Cimpor FY04 net profits unchanged18 March 2005, Published under Cement NewsCement company Cimentos de Portugal SA said Thursday that despite flat sales and higher costs it posted consolidated net profits of EUR189.5m in 2004, the same as its profits for 2003. Cimpor said sales were up 0.3 per cent at EUR1.37bn from EUR1.36bn, while costs rose seven per cent to EUR906.9m. Cimpor said sales were particularly strong at its Spanish, Egyptian and South African operations. In Portugal and Brazil sales were lower. The domestic decline was driven by a weaker economic bac... |
Sebi clears Holcim open offer18 March 2005, Published under Cement NewsThe Securities and Exchange Board of India today approved the Swiss giant Holcim’s open offer to bid for stake in Associated Cement Companies at the rate of Rs 370 per share. Holcim announced on 20 January this year its intention to take over ACC via Gujarat Ambuja Cement Limited following its pact with the latter. Holcim has picked up 67 per cent stake in ACIL. ACIL in turn holds 13.8 per cent in ACC which it wants to raise to 50.01 per cent. After Sebi’s approval today, the Life Insurance C... |