Cement News tagged under: corporate
Cement firms making firm gains25 November 2004, Published under Cement NewsThe average per-bag price realisation of Indian cement makers increased from a modest four per cent in the financial year 2003-04 to 13.26 per cent in first quarter ended in June 2004 and further to 15.62 per cent in the second quarter to September 2004. As a result, PBIT margin, or operating profit margin, of the 14 main cement companies zoomed to 16.23 per cent in the first half of this financial year from 9.52 per cent in the year-ago period. |
SCC eyes debenture issue25 November 2004, Published under Cement NewsSiam Cement (SCC), one of Thailand’s leading industrial conglomerates, said it will issue 20 billion baht worth of debentures next year for debt refinancing to enable it to bring down its annual interest debt burden. SCC’s vice-president Karn Trakulhun said the combined interest debt for SCC next year is expected to fall to one billion baht against a combined interest debt of six billion baht this year. SCC had a combined interest debt of 10 billion baht in 2001 and a total interest debt of ... |
Alexandria Cement posts profits25 November 2004, Published under Cement NewsEgyptian cement producer Alexandria Cement reported a consolidated net profit of 37.39m Egyptian pounds (US$6.0m) for the first nine months of 2004, compared to a net loss of 33.81m pounds (US$5.4m) in the same period of 2003. The company’s net sales rose 45.95 per cent year-on-year to 256.38m pounds ($41.2m), while the cost of sales grew 10.3 per cent to 154.28m pounds (US$24.8). |
UAE Gulf Cement Gets $41.7m loan25 November 2004, Published under Cement NewsUAE cement maker Gulf Cement Company, based in the emirate of Ras-al-Khaimah, has secured a loan worth 153 mln UAE dirhams ($41.7m) from Jordan-based Arab Bank, it was reported on November 24, 2004. The company will use the loan to finance part of its expansion project, which is estimated at some 370 mln dirhams ($100.7m). The loan agreement was signed between Gulf Cement chairman, Sheikh Omar bin Saqr al-Qasimi, and the manager of Arab Bank in Ras al-Khaimah, Ali Deeb Zatar. |
State Cement merged into PIDC25 November 2004, Published under Cement NewsPakistan State Cement Corporation (SCC) has been merged into Pakistan Industrial Development Corporation (PIDC) according to managing director of State Cement Corporation, Mohammad Aslam Chandio. He said that the Boards of Directors of both SCC and PIDC have approved the merger and the official notification in this regard would be issued in next few days. He further told that this decision of merger has been taken for reducing the expenditures and restoring the financial position of the Corpo... |
Holcim sells to Credit Suisse First Boston International24 November 2004, Published under Cement NewsIn December 2001 Holcim concluded a Total Return Swap contract with Cartera Lusitana SA related to 9.5 per cent shareholding in Cimpor - Cimentos de Portugal, SA. The Total Return Swap agreement is now being terminated and the entire share package is being acquired by Holcim through a subsidiary. At the same time, the Holcim subsidiary is selling a 7.7 per cent holding to Credit Suisse First Boston International, leaving a 1.8 per cent holding in the Portuguese cement producer in Holcim’s ow... |
CSFB launches Euro 370m convertible into Cimpor24 November 2004, Published under Cement NewsCredit Suisse First Boston said on Wednesday it had launched a Euro 369.7m bond exchangeable into shares of Portugese cement company Cimpor. The bonds will mature in 2007, carry a coupon of 2 to 2.5 percent and be exchangeable into Cimpor shares at an exchange price of Euro 4.35. CSFB is also acting as sole bookrunner on the deal. CSFB will issue the notes following its purchase of 85 million Cimpor ordinary shares from C+P.A. Cimento e Produtos Associados and Libergeste, SGPS, Unipessoal, Ld... |
Malayan cement reports sharp fall in pre-tax profit24 November 2004, Published under Cement NewsLafarge Malayan Cement Bhd’s group pre-tax profit for the third quarter ended 30 September 2004 plummeted 60.4 per cent on-year to RM18.602 million (US$4.9 million) due to lower domestic demand, softer selling prices and higher production costs. Group revenue during the current quarter slipped 1.7 per cent on-year to RM454.956 million, it said in a filing to Bursa Malaysia. Lafarge said cement demand has been knocked hard by a slowdown in construction activities due to the shortage in st... |
Investment by Thai Pride Cement Co23 November 2004, Published under Cement NewsItalian-thai Development Public Company Limited would like to notify information of Investment in Thai Pride Cement Company Limited ("TPCC"), established on 16 October 2003, as follows: The Company has invested in TPCC on March 10, 2004 by purchasing 76,500 shares of TPCC from the majority shareholder, R.N.C (Thailand) Co.,Ltd., at an average price of Baht 1,960.79 per share (Book value per share of TPCC as of 31 March 2004 is Baht 69.78 per share).TPCC’s registered fully paid up capital ... |
OCI Reports Record Results22 November 2004, Published under Cement NewsOrascom Construction Industries, Egypt, announced consolidated revenue of LE2417.3m (LE 1,145.1m) during the same period last year) with a gross profit of LE 637.3 million (LE 331.4 million), and net income of LE 323.0m (LE 152.0m) for the third quarter ended 30 September 2004. OCI Chief Executive Officer, Nassef Sawiris commented "third quarter consolidated revenue is up 111% and net income is up 113% over last year. Our exceptional financial results continue to be driven by our succe... |