Cement News tagged under: corporate
Titan net profit seen up 35.7% YoY, Greece23 February 2005, Published under Cement NewsGreek cement maker Titan Cement 2004 net profit is seen rising 35.7 per cent YoY to EUR169.5m (US$223.2m), local brokerage Egnatia Finance forecasts in its February 22, 2005 report. The company’s EBITDA are estimated at EUR327.9m (US$431.8m), up 10.9 per cent. Titan sales are expected to grow 5.2 per cent to EUR1.09bn (US$1.43bn). Titan Cement will announce 2004 financial results on February 24, 2005 |
HeidelbergCement’s 2004 turnover beats forecast22 February 2005, Published under Cement NewsHeidelbergCement (HEIG.DE) reported on Tuesday an 8.8 percent rise in 2004 turnover thanks to higher cement prices and full consolidation of Indonesian unit Indocement. Turnover rose to EUR6.93bn from EUR 6.37bn. Sales volume rose to 65.2Mt from 51.1Mt in 2003. HeidelbergCement said late on Monday it would raise about EUR 270m through a rights issue to strengthen its equity base after one-off charges for goodwill at Indocement and other assets caused a loss of up to EUR400m in 200... |
Outlook: Lafarge FY profits to easily meet targets, France21 February 2005, Published under Cement NewsLafarge SA, the world’s largest cement producer, will report full year net profit of EUR827-880m on Thursday morning, up from EUR728m the previous year, as the improved economic climate allowed the group to benefit from both volume growth and higher selling prices, analysts said. Operating profits should reach EUR2.165-2.19bn compared with EUR1.93bn, a 12-13.2 per cent rise that will easily meet Lafarge’s own target of over 10 per cent operating profit growth. Roofing activities ... |
Romanian Competition Council completes cartel report18 February 2005, Published under Cement NewsRomanian competition watchdog said it completed its report on cartel agreement allegations against cement companies Lafarge, Holcim and HeidelbergCement, government sources said on February 17, 2005. The watchdog launched the investigation, following a report submitted to the government in August 2003 by the Ministries of Economy, Finances and Transport on suspicions that the three leading companies on the cement market in Romania raised their cement price simultaneously and substantially st... |
Anhui Conch: favoured stock says Citigroup18 February 2005, Published under Cement NewsAnhui Conch Cement, China’s biggest cement maker, is among stocks favoured by a senior Citigroup analyst, because of increasing construction in the world’s fastest-growing major economy. "The infrastructure buildup is still a long-term theme in China," Xue, head of China research at Citigroup’s Smith Barney unit, told Bloomberg News in a televised interview. "Prospects are very good" for Anhui Conch. The Chinese economy grew 9.5 per cent in 2004, government figures last month showed. The ... |
Philippines’ SEC orders Cemco to set tender offer17 February 2005, Published under Cement NewsThe Philippine Securities and Exchange Commission has ordered Cemco Holdings Inc to make a tender offer to other shareholders of Holcim Philippines Inc, formerly known as Union Cement Corp (UCC). Cemco, 40 per cent-owned by Holcim Ltd, last year bought a 51 per cent stake in UCC major shareholder Union Cement Holdings Corp from Bacnotan Consolidated Industries. Bacnotan and unit Atlas Cement sold their respective 21.3 per cent and 29.7 per cent interests in Union Cement Holdings for a total ... |
Ssangyong cement net profit tumbles in 200417 February 2005, Published under Cement NewsSsangyong Cement Industrial Co said Thursday that its net profit plunged 56.42 per cent on-year to 83.2 billion won (US$81.04m) in 2004. Operating profit also sank 47.23 per cent to 123.3 billion won, with sales falling 7.28 per cent to 1.18 trillion won, the company said in a regulatory filing. Ssangyong Cement Industrial is South Korea’s largest cement producer. |
Govt court battle with Cemex looms16 February 2005, Published under Cement NewsThe government has indicated it may continue its legal battle against Mexican cement giant Cemex SA at the international arbitration court, following a deadlock between both parties in the negotiation for an out-of-court settlement. Cemex had earlier agreed to the government’s request for the suspension of a lawsuit scheduled for Jan. 11 to pave the way for settling the dispute out of court, with both parties agreeing not to continue with any proceedings until Feb. 28. "There is a possib... |
Peruvian Pacasmayo posts higher profits16 February 2005, Published under Cement NewsPeruvian cement producer Cementos Pacasmayo posted a 73.5 mln Peruvian soles (US$22.6m) net profit for 2004, up 26 per cent year-on-year, Pacasmayo said on February 15, 2005. Pacasmayo’s net sales stood at 303.4 mln soles (US$93m) in 2004, compared to 266.1 mln soles (US$81.7) in 2003. The cost of sales rose to 131.5 mln soles ($40.4m) in 2004 from 99 mln soles ($30.4m) a year earlier. |
Open offer for Everest16 February 2005, Published under Cement NewsThe open offer for Everest Industries Ltd by Accurate Finstock Pvt Ltd and Adani Port Infrastructure Ltd for 20 per cent of its voting equity share capital will be at Rs 147 a share of face value Rs 10. The open offer will commence on March 18 and close on April 6, said a notice from Everest to the National Stock Exchange. The open offer is to shareholders other than the Accurate Finstock (acquirer), Adani Port Infrastructure and Holdcem Cements Pvt Ltd, said the notice. The shares tender... |