Cement News tagged under: corporate
ACC net up 137.8 per cent21 January 2005, Published under Cement NewsAssociated Cement Companies Ltd (ACC) India has recorded a 137.8 per cent increase in net profit at Rs 53 crore for the third quarter ended December 31, 2004 as compared to Rs 22.32 crore for the same quarter last fiscal. Total income rose by 24.83 per cent to Rs 987.61 crore from Rs 791.17 crore during the third quarter review period. A company statement issued here said that the interest cost for the third quarter ended December 2004, is higher by 19 per cent to Rs 27.28 crore over the cor... |
Salonit Acquires Kema Puconci21 January 2005, Published under Cement NewsCement manufacturer Salonit Anhovo has acquired a 84.78 per cent stake in its counterpart Kema Puconci in a friendly takeover bid that expired on 17 January. Salonit had already owned 24.97 percent of Kema before the bid was officially launched. It acquired the remaining 59.81 per cent at a price of SIT 7,250 (Euro30.2) per share. Thursday’s press release that the purpose of the takeover was to take advantage of the synergies and make the united company more competitive. Before ... |
Maltsovsky Portlandcement production higher21 January 2005, Published under Cement NewsMaltsovsky Portlandcement produced 3.6Mt of cement in 2004, up two per cent from the figure posted in 2003. In 2004 the factories quality control system was also certified and listed in Quality Systems Register, Eurocement Group press service reported. |
Holcim confirms Aggregate Industries takeover bid20 January 2005, Published under Cement NewsThe Boards of Holcim and Aggregate Industries are pleased to announce that they have reached unanimous agreement on the terms of a recommended cash offer to be made by Holcim to acquire the entire ordinary share capital of Aggregate Industries. Holcim is offering the ordinary shareholders of Aggregate Industries 138pence per share. In addition, Aggregate Industries’ shareholders will be entitled to a second interim dividend of 2 pence per share if the offer becomes or is declared uncondit... |
Gujarat Ambuja Q2 net jumps 50 per cent20 January 2005, Published under Cement NewsGujarat Amuja Cements Ltd, India’s third-biggest cement maker by capacity, reported on Thursday a 50 per cent jump in quarterly earnings, buoyed by strong shipments and firm prices. Gujarat Amuja, which owns a near 14 per cent stake in rival Associated Cement Companies Ltd, said net profit in its fiscal second-quarter ended December rose to 895.5 million rupees ($20.4m) from 595.4 million. A Reuters poll had forecast the company’s net profit to grow by 25 percent from a year ago to a medi... |
Cemex Colombia net sales rise20 January 2005, Published under Cement NewsCemex Colombia, the Colombian subsidiary of Mexican cement maker Cementos Mexicanos (Cemex), the third largest cement maker worldwide, posted net sales of US$263m, up 21 per cent year-on-year, it was reported on January 19, 2005. Cemex Colombia’s gross profit rose to US$160m, up 33 per cent. Cemex Colombia’s operating profit rose to US$120m, up 37 per cent. The company pointed out the higher energy costs as a negative factor, which reduced its profit. |
Portugal Madeira to sell stake in Cimentos Madeira20 January 2005, Published under Cement NewsThe Regional Government of Portugal’s autonomous region of Madeira Island plans to sell its entire 8.0 per cent stake in the regional cement company Cimentos Madeira in 2005, it was reported on January 18, 2005. The Cimentos Madeira sale was announced two years ago and is planned to be the only sale made by the regional government in 2005. According to the regional 2005 budget, Madeira will receive a total 11 mln euro ($14.34m) from sales of stakes in the share capital of regional companies... |
Atlas searches for investor19 January 2005, Published under Cement NewsAtlas, leader in the domestic market for construction chemicals, continues its search for funding for its own cement factory. The task is a difficult one, considering the currently unfavorable market situation. The company needs ZL500 million for the investment. Tomasz Skalski, Atlas’ investment coordinator says negotiations are under way with three serious financial investors. According to company plans the new facility will have a production capacity of 800,000t to 1Mt of cement. Its constr... |
India Cements to explore steps to reduce debt costs19 January 2005, Published under Cement NewsINDIA Cements Ltd will continue to look at steps to infuse fresh money into the company to reduce the cost of debt and to bring down the number of lenders, according to Mr N. Srinivasan, Vice-Chairman and Managing Director, India Cements. Addressing shareholders at an extraordinary general meeting here on Monday, he said the cement industry was looking up and prices were getting stabilised. Even in the South, the company’s major market, the "supply overhang" was getting extinguished. Given ... |
Lafarge buys out minority shareholders18 January 2005, Published under Cement NewsLafarge said Tuesday it paid US$141m to buy out minority holdings retained by the State of Wisconsin Investment Board in its businesses in South Korea, India and Japan. In a statement, Paris-based Lafarge said the move was in line with the expiry of partnership accords struck with SWIB five years ago. Under terms of the buyout, Lafarge is buying a 20.3 per cent stake in Lafarge Halla Cement in South Korea, lifting its total stake to 71.4 per cent. It’s also acquiring a 23.6 per cent stak... |