Cement News tagged under: corporate
Indocement nine months figs down02 November 2004, Published under Cement NewsPT Indocement Tunggal Prakarsa, Indonesia’s second-largest cement maker, Monday said its nine-month net profit fell 74 per cent on year due mainly to foreign exchange losses. Net profit in January-September came to IDR183 billion, down sharply from IDR712 billion a year earlier. Indocement said in a statement it booked IDR264.5 billion in foreign exchange losses during the period, compared with IDR189.7 billion in foreign exchange gains the previous year, due to an 8 per cent drop in the ... |
Cemex acted quickly to cement RMC deal02 November 2004, Published under Cement NewsThe market heard about the deal on September 27 and was excited by its sheer size – reports the UK Banker magazine. Cemex, Mexico’s cement manufacturer, paid no less than $4.1bn in cash for RMC, the British cement producer. The company also assumed RMC’s debt, taking the deal’s value up to $5.8bn. This was the largest cross-border deal ever accomplished by a Mexican company. The terms of the acquisition represent a premium of approximately 39 per cent to RMC’s average price of 615p per share... |
FLS Industries A/S completes sale01 November 2004, Published under Cement NewsThe Danish engineering and building materials group FLS Industries A/S announced on Friday (29 October) that its sale of the cement operations Aalborg Portland and Unicon to the Italian group Cementir had received all official approvals. "The parties have therefore today closed the sale, and the transfer of shares has been effected in accordance with the agreement signed," FLS Industries said. |
Spanish Cementos Lemona profit down01 November 2004, Published under Cement NewsSpanish cement producer Cementos Lemona posted a Euro 9.11m consolidated attributable net profit for the first nine months of 2004, down 35 per cent year-on-year, the company reported to the Spanish stock market regulator CNMV on October 29, 2004. The turnover of the company for January to September 2004 fell by 5.4 per cent year-on-year to Euro72.22m. The consolidated pre-tax profit of the company fell to Euro9.6m for the first nine months of 2004 from Euro17.1m for the same period of 2... |
AXA increases HeidelbergCement stake29 October 2004, Published under Cement NewsFrench insurance giant Axa said Friday it had increased its stake in German cement maker HeidelbergCement to 10.22 percent from 9.28 percent previously. Under German law, companies are obliged to publicly disclose any changes in shareholdings above and below certain thresholds such as five or 10 percent. In a mandatory legal filing published in the German press on Friday, Axa revealed that its holding in HeidelbergCement had now breached the 10-percent threshold. HeidelbergCement said the Fr... |
China touches the interest brakes29 October 2004, Published under Cement NewsChina’s central bank raised interest rates Thursday for the first time in nearly a decade, signaling a deep unease with the breakneck pace of development and an intent to curb a construction boom that is sowing fears of runaway inflation. The unexpected announcement by the People’s Bank of China drove down oil and commodity prices, as well as the stocks of mining and metals companies worldwide, with the expectation that China’s voracious appetite for raw materials will wane as its economy... |
India’s Mangalam Cement swings to profit29 October 2004, Published under Cement NewsIndian cement maker Mangalam Cement Ltd said on Friday it made a net profit of 4.6 million rupees in the July-September quarter compared with a net loss of 290.7 million rupees a year ago. It said net sales rose to 706.7 million rupees from 496.0 million rupees a year ago. |
Colombian Cementos Rioclaro29 October 2004, Published under Cement NewsColombian cement maker Cementos Rioclaro, a subsidiary of Colombian largest cement maker Cemento Argos, posted a net profit of 33.574bn Colombian pesos ($12.99m) from January to September 2004, compared to a net profit of 38.445 bln pesos ($14.88m) for the same period of 2003, the company said on October 27, 2004. Operating revenue stood at 118.446 bln pesos ($45.84m) from January to September 2004, versus 115.151 bn pesos ($44.56m) for the same period of 2003. Cementos Rioclaro, as well as C... |
Siam Cement posts jump in 3Q net profit28 October 2004, Published under Cement NewsThe Siam Cement Group posted net profit of 11,988 million baht (US$292m) for the third quarter of this financial year, a jump of 147 per cent on the same period last year. The company said in a statement that SCG performed strongly in most business units, but particularly in petrochemicals. SCG’s total sales amounted to 52,233 million baht (US$1.2 billion) during the current quarter, a 45 per cent increase on last year. By sector, SCG’s petrochemicals recorded total sales of 21,135 ... |
Pakistan’s DGK Cement posts profits28 October 2004, Published under Cement NewsThe profit of DG Khan Cement in the first quarter ended September 30, 2004, may range from Rs 235 million (US$3.9 million) to Rs 302 million. DG Khan sold 484,000t cement during 1QFY05, about 37 percent higher compared to dispatches during similar period last year. Due to this and better retention price, analysts expect D G Khan net sales to increase by 45 percent to Rs 1.3 billion. The company’s before tax profit is expected to increase by 44-50 percent to 362-377 million rupees, compar... |