Cement News tagged under: corporate
Morocco’s Lafarge Ciments H1 profit up six per cent30 September 2004, Published under Cement NewsMorocco’s leading cement firm, Lafarge Ciments, reported first-half net profit up 6 percent but said this growth should fall to zero by year-end as sales growth declines and due to a special tax on cement sales. Turnover rose 4.2 percent to 1.44bn dirhams after 8.2 per cent growth in sales volumes, said the firm, controlled by conglomerate SNI and in which Lafarge is a main shareholder. Net profit reached 377m dirhams ($42m), the company said in a statement. Echoing comments by a... |
Siam Cement expects to beat 2004 sales target30 September 2004, Published under Cement NewsLeading Thai industrial conglomerate Siam Cement PCL said on it would beat its target of 10 percent sales growth in 2004 because of soaring prices for its petrochemicals products. Company president Chumpol NaLamlieng also said rising energy prices had squeezed margins for cement, but a jump in sales volume meant third-quarter net profit at the unit was up. The cash-rich firm was looking to cut debt further and pay dividends rather than make any big acquisition, while expanding export... |
Semapa H1 net 154.6 mln euros with one-time gains30 September 2004, Published under Cement NewsPortuguese cement company Semapa posted six-month profits of EUR154.6m, helped by one-time gains of EUR185.4m, compared with a profit of EUR20.7m euros the year before. Revenues were EUR220.2 million euros, compared with EUR213.6m euros in the first half of 2003. The company booked one-time gains from sales of stakes in Cimpor and in Semapa’s Secil unit. |
Ten Saurashtra Cement directors resign, India30 September 2004, Published under Cement NewsAs many as 10 directors, including chairman M N Mehta, of Saurashtra Cement resigned today. The company informed the stock exchanges about the mass resignations without citing the reason for the move. However, Jay Mehta, executive vice chairman of the company told Business Standard that "some legal issues" led to the mass resignation. He declined to divulge details. "The directors were advised by their legal counsel to step down for some time," he added. The directors resigni... |
Cementir H104 net profit at EUR15.1m30 September 2004, Published under Cement NewsThe net profit of Italian cement company Cementir, a unit of local construction company Caltagirone, surged 140 pct year-on-year to EUR15.1m ($18.6m) in the first half of 2004, it was reported on September 28, 2004. Cementir’s operating profit stood at EUR24.7m (US$30.4m) in the first half of 2004, up 32 per cent YoY. The company generated an 8.4 per cent YoY rise in EBITDA to EUR39.8m (US$48.9m) in the first six months of 2004. Cementir registered a turnover of EUR151.1m (US$185.8... |
Cement Association president23 September 2004, Published under Cement NewsN. Srinivasan, Managing Director of India Cements, has been elected President of the Cement Manufacturers’ Association for 2004-05. Manoj Gaur, Managing Director of Jaypee Associates, has been elected Vice President. |
Egyptian Tourah Cement Co H122 September 2004, Published under Cement NewsThe net profit of Egyptian cement company Tourah Cement Co soared 612.5 pct year-on-year to 85.04 mln Egyptian pounds ($13.7m) in the first half of 2004. The growth in earnings followed a 33.5 pct upsurge in operating revenue to 281.93 mln pounds ($45.3m), coupled with a 1.4 pct increase in the cost of sales to 173.15 mln pounds ($27.8m). As a result, gross profit jumped to 108.77 mln pounds ($17.5m) from 40.38 mln pounds ($6.5m). Tourah Cement was established in 1927 and was listed on the... |
Cemex seeks supply savings21 September 2004, Published under Cement NewsCemex said on Monday it hopes to achieve savings of at least US$70m per year in a supply and inventory improvement program. "We started in January with all the change processes and to sum up we expect a minimum benefit amount of US$70 million per year," Francisco Cue, Cemex’s vice-president of corporate supplies, told Reuters on Monday. The program will use information systems for transactions and also includes an accord with the US company Geologistics to carry out imports and service dea... |
Buzzi plans new US bond sale21 September 2004, Published under Cement NewsItalian cement maker Buzzi Unicem is considering the sale of $150 million to $160 million worth of bonds via private placements in the United States, the company’s deputy chairman said on Monday. Franco Buzzi told analysts during a presentation that a decision would be taken towards the end of September. Buzzi said the firm had consulted with lenders about the impact of scandals at Italian food groups Parmalat and Cirio, which defaulted on bonds. The company was planning to issue smaller a... |
Anadolu Cimentolari, Marmara Cimento to merge21 September 2004, Published under Cement NewsTurkish cement and clinker producer Anadolu Cimentolari will take over its affiliated company Marmara Cimento, it was reported on September 20, 2004. The merger will be a subject to approval by Anadolu Cimentolari extraordinary general shareholders’ meeting scheduled for September 24, 2004. The merger, which will lead to an increase of Anadolu Cimentolari capital, will be based on the May 31, 2004 balance sheets. The two companies are part of Set Group Holding, which carries out the busine... |