Cement News tagged under: corporate
Energy costs too high, says Bamburi CEO26 October 2004, Published under Cement NewsBamburi Cement managing director, Didier Tresarrieu, said yesterday that for local industries to compete effectively with imports from the Comesa, energy costs need to come down. Mr Tresarrieu said exorbitant electricity costs had made it difficult for local manufacturers to cope with imports from the region a development he said did not augur well for the sector. "The Government should look into ways of reducing electricity costs in the country, not only to create a level playing field, b... |
Semen Gresik 9-Month figures26 October 2004, Published under Cement NewsPT Semen Gresik, Indonesia, said its cement sales in the first nine months of this year rose 12 per cent on year to 11.64Mt, due to gains in both domestic sales and exports. Indonesia’s largest cement maker said its domestic cement sales rose 13.3 per cent on year to 10.03Mt. Its exports gained 4 per cent on year to 1.61Mt. According to data from Indonesia’s cement producers association, national cement sales in the first nine months of this year rose 9 per cent to 22.28Mt from 20.44 million... |
Morgan Stanley to invest US$50m in china cement plant25 October 2004, Published under Cement NewsMorgan Stanley, one of the world’s leading investment banks, has reportedly signed an agreement to invest US$50m in a joint venture with local cement producer Jinan Shanshui Group Co Ltd in east China’s Shandong province, the Chinese company said. Morgan Stanley will take a 30 per cent stake in the joint venture into which Shanshui Group will inject its total cement assets, an official at Shanshui Group, who asked not to be named, told XFN-Asia. “We also plan to list the joint venture overse... |
Saudi Tabuk Cement Co25 October 2004, Published under Cement NewsSaudi cement producer Tabuk Cement Company (TCC) posted a net profit of 95.7 mln Saudi riyals ($25.5m) for the first nine months of 2004, up from 55.8 mln riyals ($14.9m) in the corresponding period of 2003. TCC’s sales stood at 218.5 mln riyals ($58.3m), up 38.6 per cent year-on-year, while the cost of sales rose 19.5 per cent to 109.6 mln riyals ($29.2m). As a result, gross profit increased 65.2 per cent to 108.9 mln riyals ($29m). |
Taiheiyo ups H1 net profit estimate to Y4.5bn, Japan22 October 2004, Published under Cement NewsTaiheiyo Cement Corp, said it now expects to post a first half to September parent net profit of 4. 5bn yen, higher than the 400m yen net profit seen earlier, citing the booking of a special dividend of 1.5bn yen from its affiliates. The company did not disclose details of the special dividend. Taiheiyo Cement now forecasts a first half to September parent current profit of 2.7bn yen on revenue of 140bn yen, compared to its earlier forecasts of 800m yen current profit on revenue of 141bn yen... |
Boral shares soften as construction activity slows, Australia22 October 2004, Published under Cement NewsShares in Boral Ltd softened today after it revealed its first quarter revenues hadn’t improved on last year, as the building products company suffers from a dip in Australian construction activity. However Boral still expects its full year net profit would lift five per cent on last year’s record $370m underlying profit. Executive director Rod Pearse told shareholders at Boral’s annual general meeting in Sydney today that sales for the three months to September 30 this year were weaker... |
Lafarge 9-month sales up 5.7 per cent, keeps outlook21 October 2004, Published under Cement NewsLafarge reported a 5.7 per cent rise in 9-month sales on Thursday, thanks to higher cement prices in the United States and Europe, and reiterated its guidance for the full year. The company said it was confident full-year operating income would grow by more than 10 percent, excluding currency fluctuations and barring unusually adverse weather conditions. The building materials company said in a statement it generated sales of EUR10.87bn (US$13.69bn) from January to September, compared wi... |
Italy’s Buzzi launches US bonds worth $172m21 October 2004, Published under Cement NewsItaly’s Buzzi Unicem has issued a total of $172m in senior unsecured notes via private placements in North America to fund a stake purchase in cement maker Dyckerhoff, the company said. Investment bank Merril Lynch advised the company on the deal, which comprises three tranches with maturities in 2007, 2009 and 2011. The first tranche of US$25m has a fixed annual rate of 4.41 percent. The second of EUR15m ($18.89m), callable from 2006, is priced at a floating rate at 70 basis points ... |
Gujarat Ambuja July-Sept quarter net leaps, India20 October 2004, Published under Cement NewsGujarat Ambuja Cements LtdIndia’s third-biggest cement maker by capacity, said quarterly profit surged as it benefitted from a boom in export prices. Gujarat Ambuja, also the nation’s top cement exporter, said standalone net profit in the first fiscal quarter ended September rose more than six-fold to INR904.6m (US$19.8m). Net sales climbed 58 per cent to INR5.99bn. A Reuters poll had forecast a 427 per cent jump in the past quarter’s net profit to a median INR955m. Gujarat A... |
SG wraps up Semen Padang audit with negative adjustment, Indonesia20 October 2004, Published under Cement NewsState-owned PT Semen Gresik (SG), the country’s largest cement producer, has completed a forensic audit on its subsidiary PT Semen Padang, with possible losses resulting from irregularities committed by the previous management. SG corporate secretary Soebagyo told local press that the company’s auditor PricewaterhouseCoopers (PwC) had just concluded the forensic audit for Semen Padang’s 2002 financial account, and would later consolidate it with the SG account. "The audit (result) wa... |