Cement News tagged under: corporate
Helwan Cement Announces 9M FY04 Results13 December 2004, Published under Cement NewsHelwan Cement announced 9M FY04 results ending September, wherein the company posted a LE1.8 million net profit balance compared to a LE44.8 million net loss incurred in 9M FY03. Sales revenues advanced a relatively subdued 6.5% y-o-y to reach LE631.1 million versus a comparable LE592.4 million, while the COGS/Revenues ratio improved a considerable 740 bps to 67.1 per cent versus a previous 74.5 per cent. Moreover, the company witnessed a 25.7 per cent annual decline in interest expense, culm... |
Somani to set up cement plant in Bhavnagar13 December 2004, Published under Cement NewsSomani Cement Company Ltd of Vadodara is setting up a 1000tpd cement plant at Bhavnagar with an investment of Rs150 crore. Financial institutions, foreign institutional investors and insurance companies are to hold 5 per cent stake in the project. Also, Punjab National Bank has 4.35 percent stake and Morgan Stanley 0.5 percent stake in the project. |
Italcementi’s Ciments Francais sees post-bid investments in Egypt13 December 2004, Published under Cement NewsItalcementi SpA’s quoted unit Ciments Francais SA plans to invest to improve efficiency and logistics at its Egyptian affiliate Suez Cement after the planned takeover, according to Ciments Francais chairman Yves-Rene Nanot. Nanot was commenting in an interview in Milano Finanza Saturday, giving more detail on Ciments Francais’s recent bid of up to US$540m to acquire the 65.9 per cent shareholding it does not already own in Suez Cement from the Egyptian government. Nanot said investments ... |
Wolseley downgrade say analysts13 December 2004, Published under Cement NewsDeutsche Bank has transferred coverage of Wolseley and undertaken a major review of the company. In its view most of the group’s key markets have peaked and are likely to decline in 2005. “As a result we expect growth to stall next year. Our bleak outlook is not reflected in the stock’s premium rating. Our economic profit model implies a fair value of 800p (down from 880p) - more realistic at this stage in the cycle, in our view.” Most of the group’s markets are likely to come under sever... |
UltraTech Cement revenue to touch Rs.27bn10 December 2004, Published under Cement NewsUltraTech Cement, a unit of the Aditya Birla Group, is set to register a 12 percent rise in revenue to touch Rs.27bn ($614m) this fiscal. OP Puranmalka, the chief marketing officer of UltraTech Cement, said this here, adding that last year the company’s earning was Rs.24bn. "UltraTech Cement will make a capital expenditure of Rs.2bn for de-bottlenecking its plants within two years for expanding the production capacity by 2.5 million TPA (tonnes per annum)," Puranmalka told IANS. He was in... |
Dollar weakness to drive up sales for Cemex09 December 2004, Published under Cement NewsA wobbling dollar means more solid sales for Mexico’s Cemex as currency appreciations in its operations from Barcelona to Bogota are seen translating into higher greenback revenues. Analysts say dollar weakness against the euro is beefing up Cemex’s top-line growth from its Spanish unit during the fourth quarter. The Mexican peso’s strength is also expected to boost revenues, almost certainly to record levels. And currencies are up even in countries such as Colombia, Cemex’s No. ... |
HeidelbergCement seals EUR 1bn refinancing loan, Germany09 December 2004, Published under Cement NewsHeidelbergCement has signed a EUR 1bn (US$1.3bn) loan to refinance its outstanding debt facility. The company said the loans would improve its debt maturity structure and reduce funding costs. It said the multi-currency revolving credit facilities refinanced its outstanding EUR 1.07bn loan, the balance from the original EUR 1.5bn facility maturing in 2006. HeidelbergCement said the loans consisted of three-year EUR 400m and a five-year EUR 600m tranches, with initial ma... |
Shiva board approves fresh issue of equity shares, India09 December 2004, Published under Cement NewsShiva Cement Ltd., has informed BSE that the Board of Directors of the Company at the meeting held on December 06, 2004 have approved the following: * Proposal for raising fresh equity share capital by offering equity shares of Rs 2/- each at a premium upto Rs 3/- per equity share to its existing shareholders in such proportion as the committee of directors may decide. The committee of directors in consultation with Merchant banker will decide the quantum of right issue, price, ratio a... |
Government may allow Cemex to increase stake in Gresik, Indonesia07 December 2004, Published under Cement NewsThe Indonesian government is considering an option to allow Cemex to increase its stake in the country’s largest cement maker PT Semen Gresik to 49 or 51 per cent, according to local news reports, citing Coordinating Minister for Economic Affairs Aburizal Bakrie. ’Cemex can increase its holding to 49 or 51 per cent (from the current 25 per cent). But the government is not willing to sell at the current price (of around 12,000 rupiah per share),’ the report quoted Bakrie as saying. ... |
Efforts to reopen CCI unit06 December 2004, Published under Cement NewsRepresentatives of the Cement Corporation of India Employees Union (CCIEU) and Staff and Workers’ Union (SWU), Adilabad, will meet the Chief Minister, Y. S. Rajashekhara Reddy, on December 7 to urge him to represent the issue of reopening the CCI’s Adilabad unit with the Board for Industrial and Financial Reconstruction (BIFR) and the Union Government. The meeting was arranged at the behest of the Adilabad MLA, C. Ramchander Reddy. The representatives would also attend a meeting with th... |