Cement News tagged under: corporate
Thai TPI Polene Q3 net profit down13 October 2004, Published under Cement NewsTPI Polene PCL, Thailand’s third largest cement maker, said on Tuesday its third-quarter net profit fell 94 percent on the year due mainly to foreign exchange losses and a fall in domestic cement prices. TPIP, a unit of Thai Petrochemical Industry (TPI.BK), the country’s largest corporate defaulter, reported a net profit of 141 million baht ($3.42 million) for the July-September period versus 2.36 billion baht profit in the same period last year. Its third-quarter operating profit was down... |
Cemex focuses on China and India12 October 2004, Published under Cement NewsBarely two weeks have passed since Mexican cement company Cemex reported the it had just finalized the largest acquisition in its history which dates back to 1992, however, the firm’s expansion plans seem to know no end. "There are many other countries in which we know that sooner or later we will be operating, such as India, China and even Russia," said Lorenzo Zambrano, president and general director of the firm. On September 17, Cemex announced the agreement to acquire the British f... |
Export synergies08 October 2004, Published under Cement NewsThe stock price of UltraTech CemCo, the de-merged company from L&T, has been on rise in the last few days on huge growth potential from export market and also its synergies with Grasim, which has controlling stake in it. In the last three days, the stock price has gained 19 per cent. Rise in the stock price is accompanied with an increase in trading volumes. In today’s trading, the stock price gained 7.11 per cent at Rs 316.25 on the BSE with sizeable volumes traded. Analysts said that with... |
China Resources Cement raises stake in Guangxi07 October 2004, Published under Cement NewsChina Resources Cement Holdings Ltd said it will pay about 61.9m yuan (US$7.5m) for an effective 20.36 percent stake in its cement subsidiary in China’s southwestern province of Guangxi. The acquisition will boost the interest of China Resources Cement, a sister company of China Resources Enterprise Ltd, in Guangxi China Resources Hongshuihe Cement Co Ltd. to 90.36 per cent, it said in a statement. "The acquisition will enable the company to centralise the management and operations o... |
Holcim Espana appoints new directors06 October 2004, Published under Cement NewsSpanish cement manufacturer Holcim Espana has appointed two new members to its board of directors, with the aim of strengthening the company’s management structure. The new members are: Claudio Boada, chairman of Spanish business association Circulo de Empresarios and non-executive chairman of US investment bank Lehman Brothers in Spain and Portugal; and Rodrigo Charlo, chairman of Andalusian construction and services group Detea (Finacial Times report |
Noteholders agree to Cemex debt buyback06 October 2004, Published under Cement NewsCemex said on Tuesday a majority of note holders agreed to its debt buyback offer for its 2009 notes and extended the consent date for its cash tender offer period on other debt due in 2006. Cemex last month launched a cash offer to buy back $291.6 million in two tranches of debt. One was for $200 million in notes due 2009 and the other for $91.6 million maturing in 2006. Noteholders who consented to sell back the 2009 debt will receive a $10 commission above the tender offer price of $1.21... |
Rohrdorfer Zement Buys Austrian producer06 October 2004, Published under Cement NewsGerman cement producer Rohrdorfer Zement has bought the stake of Austrian Hatschek Group in local cement producer Gmundner Zement Produktions- und Handels GmbH for an undisclosed sum, it was reported on October 5, 2004. Through the purchase the German company has increased its stake in Gmundner Zement to 98 per cent from 26 per cent. Hatschek Group will in turn acquire shares in German cement producer HeidelbergCement AG, which is a 30 per cent shareholder in Rohrdorfer Zement. The owners... |
Egyptian National Cement06 October 2004, Published under Cement NewsEgypt’s National Cement Company (NCC) reported a net profit of 27.51 mln Egyptian pounds ($4.4m) for the fiscal 2003/04, ended June 30, 2004, compared to a net loss of 91.35 mln pounds ($14.7m) in 2002/03. NCC’s operating revenue jumped 47.17 pct year-on-year to 577.8 mln pounds ($92.7m), while the cost of sales increased 15.4 pct to 472.23 mln pounds ($75.8m). As a result, the company reported a gross profit of 105.57 mln pounds ($16.9m), compared to a gross loss of 16.47 mln pounds ($2.6m)... |
Buzzi Unicem modifies plans to buy Dyckerhoff stake06 October 2004, Published under Cement NewsBuzzi Unicem SpA has abandoned plans to buy a 24.19 per cent stake in German cement group Dyckerhoff AG from Sanpaolo IMI SpA unit IMI Investments before January, when the bank has the right to sell the stake to the Italian group, the daily MF said without giving a source. In September, deputy chairman Franco Buzzi said in an interview with the daily Il Sole 24 Ore that the group planned to review the agreement with Sanpaolo, so as to be able to buy the stake end-September/early October for ... |
ARM to Buy Firm in Zambia06 October 2004, Published under Cement NewsAthi River Mining (ARM), has announced plans to buy a multi-million lime manufacturing business in Zambia. The firm has also announced an Sh860 million-expansion plan to boost its production capacity in Kenya. The Zambian acquisition through a privatisation play follows the company’s successful entry into Tanzanian and South African markets. ARM has also signed a joint venture agreement that will see it set up a lime plant in Mali to service the gold mines. Mr Suresh Kumar, ARMs CEO, con... |