Cement News tagged under: corporate
Republic Cement optimistic18 June 2004, Published under Cement NewsRepublic Cement Corp. hopes to top profits in 2003 with an expected increase in cement sales this year. In the recent annual stockholders’ meeting, President and Chief Executive Juan Miguel R Montinola said the proclamation of a new president on June 30 will help the company surpass last year’s profit as this will convince investors to go on with their projects. However, he said the challenge remains for Republic Cement to curb the increasing costs of energy for power and coal, whose prices h... |
Madras Cements net up18 June 2004, Published under Cement NewsMadras Cements registered a profit after tax of Rs 33.40 crore (Rs 12.96 crore) in 2003-04, higher by 158 per cent in relation to the previous year. The company’s board recommended a final dividend of 50 per cent on each equity share (face value of Rs 10). An interim dividend of 25 per cent has already been paid. The company’s net sales in 2003-04 were Rs 695 crore (Rs 626 crore), higher by 11 per cent. In 2003-04, Madras Cements’ average realisation increased Rs 50-60 a tonne, said Mr ... |
Holcim’s delists Apasco shares18 June 2004, Published under Cement NewsThe Mexican unit of Swiss cement company Holcim Ltd said Thursday it has delisted its shares from the local stock market. The shares of Holcim Apasco have traded occasionally since the European parent bought out the unit earlier this year for about $750m In a filing with the Mexican stock market, Holcim Apasco said only 0.1% of outstanding shares remain in hands of minority holders who can still sell them for the same offer price of $10.20 a share. Holcim Apasco is Mexico’s second-largest ... |
Rinker¹s advance hit by weak US dollar18 June 2004, Published under Cement NewsIn the year to the end of March, Rinker increased turnover by only 2.0 per cent to A$5,339m (US$3,706m), because of the weakness of the US dollar, which accounted for 77.4 per cent of the turnover. The US operations generated a turnover of US$2,868m and an EBITDA of US$591m. Cement volumes were boosted by one-off bulk deliveries to major trading partners and rose by some 16 per cent. Average prices were steady, in spite of higher costs, but are now rising. Cement margins thus narrowed dur... |
Taiheiyo down in Japan18 June 2004, Published under Cement NewsTaiheiyo Cement Corporation, the largest Japanese cement producer, has reported a turnover 5.2 per cent lower at ¥879,484m (US$7,990m) for its financial year to the end of March 2004. The trading profit emerged 2.6 per cent down at ¥44,847m (US$407m) but the profit before extraordinary items rose by 50.3 per cent to ¥35,142m (US$319m) thanks to a 9.3 per cent drop in the interest charge to ¥15,011m (US$136m) and a change from losses of ¥6,436m (US$58m) in the previous year to a profit of ¥5... |
Amnesty wants Israeli wall inquiry17 June 2004, Published under Cement NewsAmnesty International has called on the Government to investigate links between Cement Roadstone Holdings (CRH) and the construction of Israel’s controversial security fence in the West Bank. Human rights groups say the fence is dividing communities and restricting the movement of Palestinians. Amnesty yesterday said Nesher Cement in which CRH has a sizeable stake was supplying cement for the wall. The Government has criticised the wall as illegal under international law. A spokesman f... |
Siam City Cement changes top staff17 June 2004, Published under Cement NewsIn its most drastic management revamp since Swiss cement maker Holcim Ltd took management control six years ago, Siam City Cement Plc is changing its chief executive and the heads of marketing, production and finance almost simultaneously. The board of directors at Thailand’s second largest cement company approved yesterday the appointment of Leo Mittelholzer as new managing director, succeeding Vincent Bichet, who has held the position for three years, company spokesman Dr Staporn Phettong... |
Cement Shares Take A Hit15 June 2004, Published under Cement NewsIndian Cement stocks have taken a heavy beating in June with the onset of monsoons. Industry majors such as Gujarat Ambuja, ACC and Grasim Industries have plunged up to 15 per cent on the bourses in June so far. Market players have been off-loading these stocks with both cement prices and dispatches showing a declining trend, brokers said. According to a Delhi-based industry analyst: “Slowdown in construction activity during the monsoons is a major reason for the decline in dispatches o... |
Grasim offers to acquire 30% stake14 June 2004, Published under Cement NewsGrasim Industries has made an open offer for acquiring a 30 per cent stake in Ultratech Cemco. The company came into existence after the demerger of Larsen & Toubro’s cement business. The offer price stands at Rs 342.60 per share. The offer is currently open and will close on June 21, ’04. The existing L&T shareholders will get four shares of Cemco for every 10 shares held and five shares of L&T without its cement division (reports The times of India). Cemco, with a capacity of 17Mta, is... |
PSP Engineering sees losses rise14 June 2004, Published under Cement NewsPSP Engineering, which took control of production at the bankrupt Prerovske strojirny engineering firm last year, posted an audited loss of CZK 93.4 mln in 2003, up from a loss of CZK 6.58 bn the previous year, according to figures released by the company. The firm will not comment on the results until after its annual general meeting (AGM), scheduled for June, takes place, according to PSP spokesman Ludek Fesar. Shareholders will vote on a proposed share capital cut of CZK 150 mln to CZ... |