Cement News tagged under: international
Cemco seeks reversal of CA decision21 November 2005, Published under Cement NewsCemco Holdings Inc. has asked the Court of Appeals to reconsider its decision requiring the cement firm to tender an offer to buy the stakes of minority shareholders of Holcim Philippines Inc. "Sources at Cemco are optimistic that the Court of Appeals will see the merits of the circumstances by which the transaction was made in the first instance," the firm said in a statement issued by the Sycip Salazar Hernandez and Gatmaitan Law Offices. In August 2004, Cemco agreed with Bacnotan C... |
Carib Cement’s earning up, but profit down21 November 2005, Published under Cement NewsA 17.5 per cent increase in revenue for quarter to September 30 was not enough to offset the negative impact of Hurricanes Dennis and Emily and higher energy costs at Caribbean Cement Company, which reported a $50.5 million loss for the period. During the period, the company had the benefit of some cost reduction associated with the new and cheaper cement variety, Carib Cement Plus, which accounted for 77 per cent of its output, but the firm said the mid-year hurricanes "severely affected... |
Semen Baturaja reports surge in profits21 November 2005, Published under Cement NewsState-owned cement maker PT Semen Baturaja in South Sumatra reported a gross profit of Rp20bn (US$2 million) in the first 10 months of this year, up from only Rp4.14 billion in the whole of last year. The company’s net profit is projected at Rp12.69bn, its president Bakti Setiawan told a local daily. According to him, the company wanted to become a public company selling part of its shares in stock markets to raise funds to strengthen its capital and repay a debt. He said the company ... |
US Lehman Brothers Cuts Italy Italcementi Stake21 November 2005, Published under Cement NewsUS investment bank Lehman Brothers has cut its stake in Italian cement group Italcementi to under the threshold of two per cent, Italian stock market regulator Consob reported on November 18, 2005. The operation was made on November 11, 2005, Consob added. Previously Lehman Brothers held a 2.053 per cent stake in the Italian cement group. Lehman Brothers held the 2.053 pct stake in Italcementi on November 1, 2005, Italian news agency ANSA reported on November 11, 2005. The stake was he... |
Exchange rate loss of Indocement to decrease21 November 2005, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk predicted that the exchange rate loss of the company will decrease this year as the company has hedge some US$150m of its debt, while the exchange rate of Japanese Yen also has decreased. The outstanding debt of the cement manufacturing company was US$423 million, consisting of US$6.2m debt on local currency, US$148 million on JPY and US$269m on US currency. Of the US$269m debt on US currency, the company has hedged some US$150m of it. The Finance Di... |
Egyptian Misr Beni Suef net profit soars 290% YoY21 November 2005, Published under Cement NewsThe net profit of Egyptian cement producer Misr Beni Suef Cement (MBSC) jumped 290 per cent YoY to E£101m (US$17.5m) in the first nine months of 2005. The upsurge in earnings resulted mainly from the 40 per cent increase in net sales to E£284.5m (US$49.4m). The cost of sales rose 31.6 per cent to E£138.33m ($24 mln/20.4 mln euro), which led to a gross profit of E£146.16m (US$25.4m), up from E£97.98m (US$17m). Misr Beni Suef Cement has an issued capital of E£200m (US$34.7m) divided int... |
Greece’s Titan Cement nine-months net seen rising 12% on strong US ops21 November 2005, Published under Cement NewsGreece’s Titan Cement will see its 9-months group net profit rise 12.1 per cent YoY to EUR142.7m when it announces its results under IFRS on Nov 25, analysts said. A continuing strong performance in the US market and improving sales in Greece will be the main drivers behind growth, they added. In a consensus poll taken by Euro2day.gr of three leading local analysts, nine-month group net profits are seen coming in between a forecast range of EUR138-147.3m, from EUR127.2m the same tim... |
BPB board agrees to £3.9bn deal18 November 2005, Published under Cement NewsBritish plasterboard maker BPB was last night recommended a 775p-a-share offer from French suitor Saint Gobain. The £3.9billion deal will mark the end of an increasingly hostile and bitter bid battle that started in July this summer at 675p a share. It makes BPB the latest British company to fall to a foreign takeover, with major financial shareholders in BPB said to have pushed management to accept the offer. Last night’s offer is 55p-a-share, or £270m, more than the 720p-a-share hostile... |
Cement output keeps increasing in October18 November 2005, Published under Cement NewsAccording to statistics provided by China Cement Association, China’s demand for cement will keep growing in the fourth quarter of this year, but the growth will slow down. Meanwhile, fiercer competition on domestic market has to certain extent boosted cement export. It is expected that China’ cement export this year will double the figure in 2004 to reach 18Mt. As for prices, cement price in Beijing and Guangzhou in October was basically the same as in September, while that in Shanghai and ... |
Eurocement improves Ukrainian output18 November 2005, Published under Cement NewsIn the past ten months of 2005, the Ukrainian factories of Russia’s Eurocement Group holding company made over 2.4Mt of cement, a 14 per cent rise year-on-year. Balcem of the Kharkov Region made about 1.9Mt, a 15.5 per cent boost Y/Y. The Pushka Cement Mill of Kramatorsk (the Donetsk Region) made 565,000t, a 9.3 per cent gain. The two plants, incorporated in the Eurocement Group Ukraine company, have an annual capacity of about 5Mta. |