Cement News tagged under: corporate
Cement unit expects improvement if court approves debt buyback13 July 2004, Published under Cement NewsForeign exchange will no longer have a significant impact on the earnings of TPI Polene Plc, as occurred in the second quarter of this year, if the Central Bankruptcy Court approves the company’s plan to buy back US$220m in debt in September, according to Prachai Leophairatana. Mr Prachai, who founded Thai Petrochemical Industry, is overseeing the business rehabilitation of TPI Polene, its cement subsidiary. TPI Polene posted disappointing second-quarter earnings with a net profit of... |
ACC Board consider merger with Gujarat Ambuja, India12 July 2004, Published under Cement NewsThe board of Associated Cement Companies Ltd will discuss the company’s merger with Gujarat Ambuja Cement, despite having planned a capital expenditure of about Rs5bn (US$109m) in the current fiscal. "The board would discuss the issue of merger of Gujarat Ambuja Cement and report to shareholders," ACC chairman Tarun Das said at the annual general meeting on Friday. He said ACC would not be impacted by the Grasim’s takeover of the L&T’s demerged cement unit. The capex includes the... |
Cementos Melón reactivates investments of US$30-40m, Chile12 July 2004, Published under Cement NewsWith the new investments the firm expects to increase its production capacity to supply the domestic market in light of increasing demand in the real estate sector. Zursiedel said that although figure are better than in previous years in general terms, demand dropped one per cent in the first half of 2004 compared to the same period of 2003, due to the end of the works on the Ralco dam, which required around 170,000t of cement. The executive said that in 2004 the company is betting on ... |
ING Bank reduces Cimpor stake05 July 2004, Published under Cement NewsDutch bank ING Bank reduced its stake in Portuguese cement group Cimpor - Cimentos de Portugal to 0.82 per cent of its total share capital, it was reported on July, 2, 2004. ING Bank sold a total of 22,132,295 Cimpor shares, equivalent to 3.29 per cent of the stock. The shares were sold in an over the counter operation, dated July 1, 2004. After the operation, ING Bank now owns a total of 5,500,000 Cimport shares, which account for 0.82 per cent of the voting rights. |
ASEC Cement posts small profits05 July 2004, Published under Cement NewsEgypt’s ASEC Cement Co, posted a net profit of E£3.55m (US$574,000) for the first quarter of 2004. The company’s operating revenue stood at E£160.51m, while the cost of goods sold reached E£109.37m, which led to a gross profit of E£51.13m (US$8.3m mln/6.7 mln euro). Total expenses amounted to E£53.02m (US$8.6m). ASEC Cement Co is traded on the Cairo and Alexandria Stock Exchanges. |
Siam City reduces sales target05 July 2004, Published under Cement NewsIncreased oil prices have brought SCCC’s expenses up about ten per cent, but SCCC has determined to keep its ready-mix price at Baht1700 baht a tonne for the rest of this year. In the pre-mixed cement market segment, SCCC sold 585m cu.m in the first five months of this year for 789 million baht. The company is expanding its production capacity by building three new mixing plants this year, up from 38 at present. Each plant will cost 30 million baht. CEO Siva Mahasandana told reporters thre... |
Pioneer Cement back into black05 July 2004, Published under Cement NewsPioneer Cement Limited, a unit of Noon Group of Companies, has recorded RS98.76 million gross profits during the quarter ended March31, 2004which is over30 percent of net sales revenue. However cumulative nine month gross profit surged to Rs292.52 million as compared to Rs68.34 million in the corresponding period of previous year. Net profit after the quarter works out to Rs23.01 million as against loss of Rs74.04million sustained in the same period of last year. Had the impact of re pro... |
PPC gives good returns05 July 2004, Published under Cement NewsSouth Africa: PPC has delivered a 140 per cent total return to shareholders over four years. The share price has rocketed from a low of R30,50 in 1998 to a record high of R155 this month. On top of normal dividends, the group has declared special dividends consecutively in the past three years. Total distribution to shareholders in this period exceeds R1.2bn. CEO John Gomersall and MD John Blackbeard have always underplayed the role of executive management in this veteran cement company... |
HeidelbergCement on target05 July 2004, Published under Cement NewsGerman cement and building materials supplier HeidelbergCement AG will return to a net profit in the first half of this year, Chief Executive Hans Bauer told Dow Jones Newswires in an interview Friday. "We will again be profitable in the first half, also after tax," Bauer said. In the first half of 2003, HeidelbergCement posted a net loss of EUR4.2 million. Bauer was also confident for the full year, saying the company will show a clear earnings improvement and solidly surpass 2002’s e... |
Argos makes US$38m share issue05 July 2004, Published under Cement NewsColombia’s largest cement producer, Cemento Argos, raised 103bn pesos (US$38m) Thursday (July 1) with the issue of more than 6.8m shares giving the country’s stock market its biggest ever-trading day, local press reported. The share issue, equivalent to 3.7% of the company’s stock (161m shares) was primarily responsible for the Bolsa de Valores de Colombia record trades totaling more than 109bn pesos. Shares were issued at an average price of 15,002.3 pesos. Argos is a subsidiary if Gru... |