Cement News tagged under: corporate
Grasim May Have To Raise Offer For CemCo06 February 2004, Published under Cement NewsIndia’s Grasim Industries may have to raise its offer price to acquire a stake of more than 51% in Larsen & Toubro’s demerged cement business, the Economic Times reports. The newspaper quotes Larsen’s chairman A.M. Naik as saying it is up to financial institutions, which hold 29 per cent in the company, to decide if they want to participate in Grasim’s open offer for the cement business. Grasim currently holds 12.6 per cent in the demerged cement business called CemCo and has made an open... |
Ssangyong Cement sees record-high profitability06 February 2004, Published under Cement NewsSsangyong Cement Industrial Co. has hit a record high in corporate earnings. The company reported yesterday that it posted 1.29 trillion won (US$1.1 billion) in sales and 233.8 billion won in operating profits last year. Sales increased by 10.4 per cent compared to those of the previous year, and operating profits soared 36.1 per cent. Its net profit tripled earnings in 2002, at 190.6 billion won last year. The company said that the cost reductions and a decrease of debt had led to the impro... |
Cementos Caribe reduces its profits by 3.4 per cent06 February 2004, Published under Cement NewsThe Colombian company Cementos Caribe has reported net profits of 104,074 pesos (US$37.9m) in 2003, which is a fall of 3.4 per cent when compared with the 107,760 pesos (US$39.2m) of the previous year. The company¹s board will meet on 5 March to propose to its shareholders an annual dividend of 450 pesos (US$0.16) per share, payable in four instalments. Last year, the company paid a dividend of 420 pesos (US$0.15). Cementos Caribe operates the bulk of the Grupo Argos capacity (10 plants, 8.8... |
Buzzi Unicem raises stake in Dyckerhoff05 February 2004, Published under Cement NewsItalian cement and concrete company Buzzi Unicem has raised its stake in German counterpart Dyckerhoff to 67.01 per cent, buying a 5.32-per-cent stake from Dutch counterpart Holderfin and an 11.62-per-cent stake from German building company Schwenk, following the exercise of a put option. The total cost of the transaction was Euro108.6m. |
Profits drop at St Lawrence Cement05 February 2004, Published under Cement NewsSt Lawrence Cement Group, Canada, reported lower fourth-quarter profits and sales Wednesday. The Montreal-based cement and construction products producer said it earned $21.8m or 53 cents a share for the the three months ended Dec. 31. That compared with profits of $24.9 million or 61 cents a share for the same 2002 quarter. Sales fell to $321.1 million from $327.2 million. Sales volumes improved for cement, aggregates and concrete, reflecting good demand in all markets. However, that was... |