Cement News tagged under: corporate
CRH’s views on sector consolidation sought next week28 February 2005, Published under Cement NewsCRH PLC’s views on the consolidation of the European cement industry and whether it plans to get involved in the latest round of takeover activity will be a major talking point when the Irish-based aggregates group reports its preliminary results next Tuesday. The company, which has itself been highly-acquisitive over the past few years, was mentioned as a possible counter-bidder for Aggregate Industries PLC after Swiss group Holcim launched a UK£1.78bn takeover earlier this year. Holcim’... |
Adana Cimento plans to make investments this year28 February 2005, Published under Cement NewsTurkish cement producer Adana Cimento announced its investment, production and sales targets in the 2005 budget. The company plans to make TRY 9.5mn investment this year, and the clinker and cement production targets are 2.3Mt, and 2.2Mt tonnes, respectively. Adana Cimento expects clinker and cement sales to reach 684,000t and 2.2Mt in 2005. |
Heracles says 2004 pretax hit by end of Olympics25 February 2005, Published under Cement NewsGreek cement producer Heracles Cement, majority-owned by France’s Lafarge posted an 8.2 per cent drop in 2004 group pretax profit to 107.4 million euros, hit by slowing volume as Olympics-related projects tailed off. Operating income before interest and tax fell by 9.3 per cent to 115.7 million euros ($153.4 million). Sales dropped 2.4 per cent to 592.5 million euros. "The decrease in sales is mainly due to the slowdown in volumes, as expected following the completion of Olympics-related b... |
Holcim Philippines continues rise ahead of Cemco’s tender offer25 February 2005, Published under Cement NewsShares of Holcim Philippines Inc extended recent gains ahead of Cemco Holdings Inc’s tender offer to Holcim’s minority shareholders, dealers said. In mid-morning trade, Holcim, formerly Union Cement Corp (UCC), was up 0.05 peso or 1.19 per cent at 4.25 on 3.33 mln shares. Cemco Holdings was ordered by the Securities and Exchange Commission to make a tender offer to minority shareholders of Holcim. This was after the regulator reversed its previous decision that ruled Cemco’s purchase of a 51 ... |
Profits rise at Lafarge24 February 2005, Published under Cement NewsLafarge said Thursday its net profit rose 19 per cent last year and said it expects operating profit growth to slow due to high energy costs in 2005. Lafarge, the world’s largest cement maker, said net profit was Euro868m last year, up from Euro728m in 2003, but below the Euro932m that analysts had penciled in. Lafarge forecast like-for-like operating profit growth of between 6% and 8% this year, down from the 12.8% achieved in 2004. Lafarge cited high energy and energy-related cost in... |
Saudi Qassim Cement recommends dividend24 February 2005, Published under Cement NewsThe management board of Saudi cement producer Qassim Cement Company (QCC) proposed on February 23, 2005 a cash dividend payment of 22 Saudi riyals ($5.89) per share for 2004. QCC, based in Buraida, eastern Saudi Arabia, was established in 1976 and is one of the eight cement companies, operating in the Kingdom. |
Hanson says FY profit beats its forecasts24 February 2005, Published under Cement NewsHanson PLC said a 5.6 per cent rise in annual profit beat its expectations, reflecting a ’strong finish’ in all divisions, and boosted by a UK£7m gain from two property deals closed at the end of the year. Pretax profit before exceptionals climbed UK£336.8m from UK£319m last year, lifting earnings per share to 35.0 pence, from 32.7. Hanson increased its dividend 7.1 per cent to 18.15 pence. ’We will continue our focused strategy of organic and acquisitive growth combined with financial discip... |
Holcim scores SEC order on tender offer24 February 2005, Published under Cement NewsPublicly-listed cement firm Holcim Philippines Inc. said that the decision of the Securities and Exchange Commission to reverse its policy on tender offers sends a wrong signal to investors. In a press briefing yesterday, Holcim Philippines chief operating officer Paul M. O’Callaghan said the order for Cemco Holdings Corp. to conduct a tender offer for minority shareholders of Holcim Philippines casts doubts on the investment climate in the country. The SEC order, which was released last wee... |
Holcim clears formal hurdle on Aggregate bid23 February 2005, Published under Cement NewsHolcim said on Wednesday it had satisfied a formal condition for its planned takeover of Britain’s Aggregate Industries. The firm said in a statement it had fulfilled the requirements of a US antitrust act, and its offer now remained conditional on competition clearance from the European Commission. In January, Holcim formally made a UK£1.8bn (US$3.4bn) bid for Aggregate. |
Indocement minority shareholders approve debt-refinancing scheme, Indonesia23 February 2005, Published under Cement NewsPT Indocement Tunggal Prakarsa’s minority shareholders approved the cement producer’s debt-refinancing scheme worth US$150m, the company said in a statement. Last month, the company had said the refinancing scheme will reduce by more than US$35m a year the debt repayment for the period between April 2005 and Jan 2008 from the original annual mandatory amount under the Master Facilities Agreement (MFA). The MFA was signed in 2000 to restructure Indocement’s debts worth US$1.1bn.... |