Cement News tagged under: corporate
Rinker cements strong growth outlook21 July 2004, Published under Cement NewsCement maker Rinker Group has doubled its profit growth forecast less than a week after its former parent, CSR, also raised its estimate of likely earnings. Shareholders at Rinker Group’s annual general meeting in Sydney were told by chairman John Morschel that both the American and Australian arms of Rinker would deliver a 20 per cent increase in annual operating earnings profit before finance and tax in their local currencies. Rinker had indicated an increase in operating earnings ... |
China Resources Cement Holdings21 July 2004, Published under Cement NewsThe directors of China Resources Cement Holdings Limited has announced that Goodsales Investments, the Company’s wholly owned subsidiary, entered into an Acquisition Agreement with Zhong Tie Jian Chang, on 19 July 2004 for the acquisition of a 30% equity interest in Shenzhen Tiejian, an indirect non-wholly owned subsidiary of the Company, at the consideration of RMB15.0 million (equivalent to approximately HK$14.2 million). Accordingly, the Group can better serve the market and enable the Gr... |
TPI: new cement capacity needed20 July 2004, Published under Cement NewsTPIPL’s three existing cement plants are reportedly running at near full capacity with a utilization rate of 95% in 2Q04. TPIPL will need to build a fourth cement plant line, a plan put on hold for quite a while. Total investment cost is US$450m for another 3.3m tons-per-year cement capacity. However, the company has already invested US$300m for this project and will need only another US$150m in new investment. Valuations remain attractive at PER of only 6.5x based on normalized EPS of Bt5.0 ... |
RMC makes Spanish acquisition20 July 2004, Published under Cement NewsRMC Group, the world’s biggest ready-mixed concrete maker, announced on Monday the acquisition of Spanish rival Hormigones Ciudad Real S.A. (Horcisa) for Euro39m. RMC said in a statement that it would buy Horcisa’s share capital for Euro32m, and also assume Euro7m of debt. |
Boral buys Hanson’s Thai business19 July 2004, Published under Cement NewsBoral Ltd has reached agreement with Hanson plc to acquire its interest in the Hanson ready-mixed concrete and quarry operations in Thailand for an enterprise value of around $US45m, which includes some $US3m of cash. This price represents a trailing EBITDA multiple of seven times. The acquisition is expected to be completed by the end of July. The Hanson ready-mixed concrete business is the third-largest concrete and quarry operator in Thailand. Assets include 35 concrete batching pla... |
SeaCem turnaround19 July 2004, Published under Cement NewsSoutheast Asia Cement Holdings, Inc. (SeaCem) is optimistic it will make a turnaround this year through a share exchange agreement with Republic Cement Corp. Renato C. Sunico, SeaCem President, said this is possible with the share swap deal. "From a losing position, we have made a turnaround. We hope for a better financial position this year," he said. |
ACC Minority Shareholders for Gujarat merger19 July 2004, Published under Cement NewsThe Associated Cement Companies (ACC) is increasingly coming under shareholder pressure to consider a possible merger with Gujarat Ambuja Cements Ltd (GACL). GACL, which holds almost the 15 per cent mark in ACC, has however always maintained that it is a strategic investor in the company and has no immediate plans to make an open offer. Responding to minority shareholders’ queries on a possible merger with GACL, ACC chairman Tarun Das said at the company’s AGM on Friday: "We have never discu... |
Lafarge H1 sales to keep pace with strong Q1 as pricing improves19 July 2004, Published under Cement NewsLafarge will report a solid rise in first half sales on Thursday before markets open as good weather and an improved pricing environment sustain the performance from a very strong first quarter, analysts said. They predict the April 1 price increases introduced in a series of key markets for Lafarge will offset a lower positive volume effect than that experienced in the first three months. The US, which makes up about 28 pct of sales, should still see a strong trend in volumes though, they ... |
Mykolaivtsement ends 2003 with Profits19 July 2004, Published under Cement NewsMykolaivtsement company (Mykolaiv, Lviv region), finished 2003 with net profits of UAH 8.876 million. According to the statement, Mykolaivtsement increased incomes by 24.9% in 2003, or UAH 22.517 million to UAH 112.777 million. Mykolaivtsement finished 2002 with net profits of UAH 5.4 million. Mykolaivtsement has a total projected output of 3Mta capacity from eight kilns. According to the Agency for Development of Stock Market’s Infrastructure, the French company Lafarge owns 99.26% in M... |
Baltsem increases output By 13.3 per cent19 July 2004, Published under Cement NewsThe Baltsem company (Balakliia, Kharkiv region), one of the three major cement producers in Ukraine, increased output by 13.3% or UAH 6.29 million compared with April-June 2003, to UAH 53.587 million. In 2003, Baltsem increased its production volume by 19.1%, or UAH 24.995 million compared with 2002, up to UAH 156.154 million. T plant boosted the output of cement by 9.7% or 36,200 tons compared with 2002 to 408,700 tons; expanded clay by 18.3% or 1,300 cubic meters to 8,400 cubic meters; and... |