Cement News tagged under: international
HeidelbergCement’s pre-tax profit grows by 86.4%23 March 2007, Published under Cement NewsHelped by acquisitions and favourable markets, HeidelbergCement boosted turnover by 18.3% to EUR9,233.8m in 2006. The EBITDA improved by 31.1% to EUR 1,974.5m, leading to a 44.6% increase in the trading profit to EUR 1,460.2m. A lower interest charge, as the net debt fell by 13.1% to EUR3,081m, helped to produce an 86.4% advance in the pre-tax profit to EUR 1,438.7m. New subsidiaries in Kazakhstan, the Ukraine and Denmark were consolidated for the first time. The year-end gearin... |
Work begins on Chongqing Tongliang’s 1Mt cement grinding plant23 March 2007, Published under Cement NewsAccording to news released yesterday by Sichuan-based Chongqing Tongliang Jinjiang Cement Company, construction has begun on the company’s 1Mt cement grinding plant. With a total investment of RMB80m, construction of the project will be divided into two parts. The company will invest RMB60M in the construction of a 600,000tpy cement production line in 2007. Following operation of the project, the company will realize a sales income of RMB150m and pre-tax profits of RMB10m. |
Thailand to raise Vietnam cement industry investment to $6bn23 March 2007, Published under Cement NewsThai cement enterprises will raise investment to $3bn in Vietnam’s cement industry in 2007, and later to US$6bn, affirmed former Foreign Minister Arsa Sarasin in talks with Vietnamese Prime Minister Nguyen Tan Dung March 21 in Hanoi. Arsa Sarasin, also secretary of the Thai King, visited Vietnam accompanied by more than 100 Thai businessmen, on March 21-22. During the meeting, former Foreign Minister Arsa Sarasin spoke highly of Vietnam’s economic growth and affirmed Thai businesse... |
Cemex extends bid for Rinker again22 March 2007, Published under Cement NewsCemex SA has extended its US$11.7bn takeover bid for Rinker Group Ltd for the third time as the Mexican cement company waits for a key regulatory ruling and bets on continued weakness in the US construction market. The offer, which had been set to close at the end of this month, has now been extended until April 27 with the U.S. Justice Department expected to rule on the bid sometime next month after examining potential antitrust issues. Rinker, which makes the bulk of its profits in... |
Cement cos say won’t cut prices22 March 2007, Published under Cement NewsIndian cement makers have told Finance Minister P. Chidambaram that they won’t cut cement prices, a senior government official said Thursday. "They (the cement makers) are saying there is no scope (for price cuts)," the official said, declining to be named. Earlier in the day, the country’s cement manufacturers had a meeting with the finance ministry to discuss the price issue. |
Indocement 2006 net profit down 20 per cent22 March 2007, Published under Cement NewsIndonesia’s second-largest cement maker, PT Indocement Tunggal Prakarsa Tbk , reported on Thursday a 19.9 per cent YoY decline in its 2006 net profit due to higher selling and transportation costs. The company, controlled by HeidelbergCement AG , booked a net profit of 592.80bn rupiah last year, down from IDR739.69bn rupiah in 2005. Its revenue climbed 13.1 percent to 6.33 trillion rupiah but a 44.6 percent rise in selling and transportation expenses pushed its operating profit down b... |
Exports lift Chia Hsin profit22 March 2007, Published under Cement NewsChia Hsin Cement Greater China Holding, a Taiwanese-run cement maker in the mainland, said profit surged on robust export growth last year. Net profit soared to US$6.52 million from US$103,000 in 2005 as turnover jumped 39 per cent to US$127.23 million. No final dividend was declared. Chia Hsin increased its exports after mainland government measures in 2004 aimed at cooling the economy hit the cement industry. Net profit plunged 99 per cent in 2005 as the policies took effect. ... |
Cement company helps build classrooms in Cebu22 March 2007, Published under Cement NewsTaiheiyo Cement Philippines Inc, in the southern Cebu town of San Fernando has donated some 25,000 bags of cement to the Cebu provincial government to help in the construction of schoolbuildings in the province. The cement company has recently signed a memorandum of agreement (MOA) with the Cebu Provincial Government for the donation. The signatories were Cebu Gov. Gwen Garcia and TCPI president and chief executive officer Toshio Komatsu. Under the MOA, Taiheiyo commits to rel... |
Colombia’s Inversiones Argos seeks to consolidate22 March 2007, Published under Cement NewsColombia’s Inversiones Argos, operator of the country’s largest cement maker, said on Wednesday it would invest $350m through 2009 to expand a local production plant and consolidate operations in the United States. Inversiones Argos operates Cementos Argos , Latin America’s fifth cement producer and the No. 6 concrete producer in the United States, and is an affiliate of leading Colombian conglomerate Grupo Empresarial Antioqueno or GEA. Argos president Jose Alberto Velez said afte... |
Carib Cement profits plunge 54%22 March 2007, Published under Cement NewsCaribbean Cement Company paid out just under $305m to settle faulty cement claims in 2006 as restitution for ’non-conforming’ product let loose on the market. It anticipates the claims willeventually reach $600m. The payments, while not totally eroding the cement maker’s profits for its financial year ending December 31, 2006, did strip away 54 per cent of the net earnings that the Rockfort, Kingston-based operation recorded in the year prior. From after-tax profits of $168.9 million in 20... |