Cement News tagged under: corporate
Cemex waits to cement its gains18 November 2004, Published under Cement NewsExecutives of Cemex, the world’s third-largest cement company, are confident they can reap rewards from September’s UK£3.2bn (Dollars 5.8bn) acquisition of RMC of the UK, despite a negative market reaction (reports the Financial Times, London) After the all-debt deal, ratings agency Standard & Poor’s placed Cemex on credit watch with negative implications, implying the Mexican company’s investment grade could be in danger. Its share price dipped 10 per cent after the deal - at a premium ... |
Barloworld continues record growth18 November 2004, Published under Cement NewsBarloworld, the listed South African international brand management company, has increased its stake in Pretoria Portland Cement (PPC) to 71.6 per cent from 67.4 per cent through a R300 million investment. It has not excluded acquiring 100 percent of the listed cement and lime producer. Tony Phillips, Barloworld’s chief executive, said yesterday the group had "clearly been nibbling away at PPC" and at an appropriate price would look at acquiring 100 per cent. Phillips said incremen... |
Philippine Republic Cement17 November 2004, Published under Cement NewsRepublic Cement Corp said it will issue its convertible loan notes worth 1.35 bln pesos to Lafarge Cement to December 1. The notes were previously planned to be issued last Monday. It did not say why the issue date was changed. Republic Cement previously said it will issue the debt papers to Lafarge Cement as payment for the latter’s wholly-owned unit Continental Operating Corp. The notes will have an annual interest rate of 8 per cent and can be converted into 1.35 bln... |
Kuwait Cement Co profit falls17 November 2004, Published under Cement NewsThe net profit of Kuwaiti cement manufacturer Kuwait Cement Company fell to 14.65 mln Kuwaiti dinars ($49.7m) in the first nine months of 2004 from 24.45 mln dinars ($82.9m) in the same period of 2003. Kuwait Cement reported a net profit of 7.52 mln dinars ($25.5m) for the third quarter of 2004, down from a net profit of 9.37 mln dinars ($31.8m) and EPS of in the same period of 2003. Kuwait Cement was established in 1968 and was listed on the Kuwait Stock Exchange (KSE) in 1984. |
Spain Cementos Alfa To delist17 November 2004, Published under Cement NewsSpanish cement company Cementos Alfa will delist from the Madrid stock exchange on November 25, 2004, the company said on November 15, 2004. The company will buy back the 16,793 shares, equal to 0.746 per cent of its capital, currently sold on the stock exchange at a price of Euro 60 ($77.6) per share. Cementos Alfa is listed only on the Madrid stock exchange. The company’s majority shareholder is Cementos Portland Valderrivas, a subsidiary of Spanish construction and services group Fomento... |
Taiheiyo Cement H1 net profit17 November 2004, Published under Cement NewsTaiheiyo Cement Corp’s first half to September results: Revenue - 413.1 bln yen vs 429.9 bln Operating profit - 16.7 bln yen vs 16.7 bln Current profit - 11.2 bln yen vs 10.1 bln Net profit - 6.2 bln yen vs 6.4 bln EPS - 6.72 yen vs 6.92 yen For the year to March 2005, Japan’s largest cement producer raised its current profit forecast to 36 bln yen from 31 bln but maintained its estimates for net profit and revenue at 16 bln and 865 bln, respectively. (AFX News). |
Chairman of Ssangyong Cement Industrial Corp arrested16 November 2004, Published under Cement NewsThe Supreme Public Prosecutors’ Office on Monday arrested Kim Suk-won, honorary chairman of Ssangyong Cement Industrial Corp. on charges of embezzlement. Kim allegedly embezzled 30 billion won of company funds from Ssangyong Group’s subsidiaries during the firms’ restructuring in 1998-2000 when he was the chairman of the group. He is also suspected of hiding the company’s real estate worth 5 billion won by using another person’s name to avoid creditors’ demands for his debt guarantees for t... |
Cemex to sell cement plants to Votorantim16 November 2004, Published under Cement NewsMexican cement maker Cementos Mexicanos (Cemex) said on November 15, 2004 it had signed a letter of intent with Brazilian cement maker Votorantim Cimentos for the sale of two cement plants in the USA for US$400m. Cemex expects that the acquisition of its two plants by Votorantim Cimentos will take place in the first quarter of 2005. The combined output of the two plants rounds some 2Mt. The plants are located in the region of Great Lakes in the USA. The operation is the first disinvest... |
US Hurricanes Fail To Flatten Australia’s Rinker16 November 2004, Published under Cement NewsHigher product prices and strong US building activity helped Australia’s Rinker Group Ltd offset rising costs and Florida hurricanes to beat market earnings forecasts in its fiscal first half. The construction materials company, which makes 80 per cent of its earnings in the U.S., on Tuesday also upgraded its profit guidance for the full year, a move welcomed by investors who pushed its shares to a record high. The Sydney-based maker of cement, asphalt and concrete blocks posted a 26 per ... |
Taiheiyo Cement Expects FY Group Net Profit Y16B16 November 2004, Published under Cement NewsTaiheiyo Cement Corp, half-year ended September 30, 2004: Group sales were Y413.09 bln, down from Y429.92bn a year earlier. Operating profit remained unchanged at Y16.71 bln, while pretax profit was up from Y10.10 bn to Y11.24 bln and Net Profit was down to Y6.26bn from Y6.41bn a year ago. |