Cement News tagged under: corporate
PPC chief executive’s pay reduced21 December 2004, Published under Cement NewsPretoria Portland Cement (PPC) had reduced the pay of its chief executive, John Gomersall, by 12 per cent in the year to September, even as profit at Africa’s biggest cement maker surged by 25 per cent to R786 million. Gomersall was paid R5.6 million in salary, bonus, pension and share options, PPC said. |
Union Cement shares20 December 2004, Published under Cement NewsThe Securities and Exchange Commission’s Office of the Government Counsel is reviewing whether Cemco Holdings should be required to buy out minority shareholders of publicly Union Cement Corp, after acquiring the majority stake in the company. An SEC source said that the matter was raised to the SEC OGC after National Life Insurance Co., a minority shareholder of Union Cement, had asked the SEC to reconsider an en banc decision which stated that Cemco need not buy out the minority shares... |
Dniprotsement appoints Panchenko board chairman to replace Tsymerynov, Ukraine20 December 2004, Published under Cement NewsDuring the December 16 meeting, shareholders of the Dniprotsement company (Dniprodzerzhynsk, Dnipropetrovsk region) dismissed board chairman Oleh Tsymerynov and appointed Andrii Panchenko as his replacement. This was disclosed to Ukrainian News by a representative of the company. The representative said that the shareholders appointed Tsymerynov as board member of the plant. Panchenko is the chairman of the Kryvyi Rih Cement’s board. The shareholders have also replaced board m... |
TXI Announces Decision To Spin-Off Steel Business16 December 2004, Published under Cement NewsTexas Industries Inc (TXI) will spin off its steel business from the cement, aggregate and concrete segment to allow the two units to pursue separate growth strategies. The spinoff is expected to be in the form of a stock dividend with a target completion date sometime in the summer of 2005. Tommy Valenta, executive vice president in charge of Texas Industries’ steel operations, will become the chief executive of the new steel company. In the latest fiscal first quarter, Texas Industries po... |
Cement Akmene sales investments16 December 2004, Published under Cement NewsAkmenes Cementas, the only producer of cement in Lithuania, plans to invest 14.3 million litas (4.1 million euros) in 2005, twice the amount it invested this year. Arturas Zaremba, the CEO of the manufacturer, told ELTA that the company plans to invest into a new packing unit and one more coal mill. Akmenes Cementas also plans to invest into the recycling of used tyres. It is expected to utilise about 4,000 tonnes of tires in 2005. In 2004, the company’s sales should reach 100 million l... |
Qatar National Cement Co To Sign $120m loan16 December 2004, Published under Cement NewsThe Qatar National Cement Company (QNCC) will sign on December 19, 2004 a $120m syndicated loan agreement, it was reported on December 15, 2004. QNCC mandated a number of banks to arrange the loan in July 2004. The banks are the Qatar National Bank (QNB), the Commercialbank, the UK Standard Chartered Bank and Bahrain-based Gulf International Bank (GIB). QNCC will use the funds to finance the construction of its third cement plant. The company awarded in early June 2004 a $160m contract to Fr... |
Siam Cement units receive Deming awards15 December 2004, Published under Cement NewsThree Siam Cement Group subsidiaries have won Deming awards from the Japanese Union of Scientists and Engineers for excellence in Total Quality Management (TQM), according to Kan Trakulhoon, an SCC vice-president, according to the Bangkok Post. The 2004 Deming Application Prizes were awarded to CCC Polyolefins Co and Siam Mitsui PTA Co in petrochemicals and Ceramic Thai Industry Co for building products. The awards recognise distinguished performance improvement through the application of TQ... |
Cemex aims for 4Q04 Ebitda of US$560m14 December 2004, Published under Cement NewsCemex plans to report more than US$560m in Ebitda fourth quarter this year, which would represent a 10% jump over the same quarter last year, Cemex said in a statement. Cemex expects operating income to reach US$390m and revenue to total more than US$1.9bn during the same 2004 period, while 4Q03 results came in at US$342mn for operating income and US$1.8bn for consolidated net sales. For the full year, the company aims for Ebitda of US$2.5bn and revenue of US$8bn, while 2003 figure... |
Shree Cement expects good run in North India14 December 2004, Published under Cement NewsCement prices are expected to firm up in the coming months, on the back of nearly 8%-9% growth in demand. Rajasthan-based Shree Cement is confident of achieving a good growth in both its top and bottom line. MK Singhi, ED, Shree Cement, told CNBC-TV18, "Supply is now almost matching demand, and it looks like in the next three months, till March, demand will definitely be more than supply, and that will mean the market will be ready to give a better price. The present price is still less t... |
Cemex: Latin Equity Preview13 December 2004, Published under Cement NewsCemex SA the world’s third-largest cement maker is scheduled to release its fourth-quarter earnings forecast before the market opens today. Cemex’s fourth-quarter earnings before interest, taxes, depreciation and amortization probably will rise 17 percent to US$594m as sales advance 3.5 percent to US$1.85bn, according to Daniel McGoey, an analyst with Deutsche Bank AG in New York. |