Cement News tagged under: corporate
New supply chain management for Lafarge India22 November 2004, Published under Cement NewsPeoplesoft has announced that it has successfully deployed PeopleSoft EnterpriseOne Supply Chain Management, Financial Management and Asset Management Solutions in seven months at Lafarge India. PeopleSoft solutions will help Lafarge India synchronise its inbound supply chain and streamline procurement and inventory management across all company locations. The solutions will also allow Lafarge India to conduct online financial transactions, leading to improved data integration and coordin... |
James Hardie warns on profit22 November 2004, Published under Cement NewsBuilding materials company James Hardie Industries NV today warned that its annual profit would fall below market expectations due to increased costs and the possible boycott of its products in Australia. James Hardie today posted a nine per cent decline in first half net profit to US$61.1m, due to costs associated with the NSW government-commissioned inquiry into the compensation of asbestos victims. The group is in negotiations with union and asbestos victims groups representatives t... |
Anhui Conch to buy Fenyi Conch Cement19 November 2004, Published under Cement NewsAnhui Conch Cement Co Ltd (SHA 600585; HK 0914) said it has signed an agreement with Shanghai Xingchang International Trade Co Ltd to acquire the Shanghai firm’s 49 pct stake in Fenyi Conch Cement Co Ltd. In a statement filed with the Shanghai Stock Exchange Anhui Conch Cement said it, and its wholly-owned subsidiary Anhui Ningguo Cement Plant, will pay a total of 58.42 mln yuan for the stake. After the deal, Anhui Conch Cement’s stake in Fenyi Conch Cement will rise to 90 pct from 51 pct, wh... |
Mondi headquarters to move to Vienna19 November 2004, Published under Cement NewsMondi Packaging has announced a decision to locate its headquarters in Vienna rather than London following a merge between Mondi Packaging and Austrian Frantschach. Frantschach’s outgoing CEO Veit Sorger said the decision was a sign of confidence from the British-South African owners. The merged companies, which include Mondi Business Paper (formerly Neusiedler), together turn over five billion euros a year. Sorger’s successor Peter Oswald said that due its international nature, Mondi Packagi... |
St. Lawrence Cement Group announces a dividend increase19 November 2004, Published under Cement NewsThe Board of Directors of St. Lawrence Cement Group has approved a 12 per cent dividend increase. Consequently, a dividend of $0.14 per share on the subordinate voting Class A shares, the Class B shares and the special shares will be paid on February 1, 2005 to shareholders of record on January 15, 2005, bringing the annual dividend to $0.56 per share compared to $0.50. St. Lawrence Cement Group is a leading producer and supplier of products and services for the construction industry, namel... |
Cemex cut to ’hold’ from ’buy’ at ING19 November 2004, Published under Cement NewsING Financial Markets has lowered its recommendation on Cemex SA to ’hold’ from ’buy’ after the recent 14 per cent recovery in the company’s share price. The rebound has taken the stock back to where it was trading before the Mexican cement maker announced the acquisition of the UK’s RMC Group PLC, ING analyst Mark Cartlich said in a note. Cemex’s shares are now trading 1 per cent above ING’s revised target price of US$31.1 and thus no longer warrant a ’buy’ rating, he added. RMC said yesterd... |
Managerial Reshuffle at Eurocement19 November 2004, Published under Cement NewsA conflict has erupted among Eurocement shareholders, with the Russia Partners fund suspecting other company shareholders of asset stripping. The fund holds above 40 per cent in Eurocement, Russia’s second largest cement producer. Filaret Galchev, who owns a controlling share in Eurocement, and Mikhail Skorokhod, Eurocement president, recently left the company’s board, with Skorokhod also stepping down as company president. Last spring, Galchev initiated an additional share issue, worth $15... |
Italcementi To Set up Research Centre Near Bergamo19 November 2004, Published under Cement NewsItalian cement producer and distributor Italcementi will build a research centre in the new science and technology park Kilometro Rosso near Bergamo, northern Italy, the company said in a statement. The project for the new centre envisages setting up of a 7000 sq m building which will be used for offices and laboratories. The centre will host employees and researchers of Italcementi who currently work at another locations of the company. Works on the centre will start in 2005 and the desig... |
State Cement Corporation shares handed over to PIDC19 November 2004, Published under Cement NewsKARACHI: The 100 percent shares of State Cement Corporation worth Rs150 million have been handed over to PIDC on the directives of Prime Minister Shaukat Aziz. Joint Acting Chairman of the State Cement and PIDC Abdul Bari took this action after the approval of the Board of Directors of State Cement Corporation, the sources said on Thursday. He also merged the Board of Directors of the two Corporations, however, the sources said, he did get the permission of Securities and Exchange Commission ... |
Rinker cements record result19 November 2004, Published under Cement NewsRinker Group quashed any lingering concerns about the impact of the recent Florida hurricane season on its US operations by providing the market with a profit upgrade - its second in four months - and a record half-year result. Rinker shares hit an all-time high of $9.38 before closing 35 ¢ higher at $9.30, after the construction materials group beat market expectations by reporting a 26 per cent lift in half-year net profits to $294 million. Aside from crediting the resilient US housing ... |