Cement News tagged under: international
Lafarge North America31 October 2003, Published under Cement NewsOperating income reaches third-quarter record. Board declares quarterly cash dividend Lafarge North America Inc, the leading supplier of construction materials in the US and Canada, today reported third-quarter 2003 net income of $225.3m, or $3.04 per share diluted. These results include $78m, or $1.05 per share diluted, from cement-related divestment gains and discontinued operations. The results compare with third-quarter 2002 net income of $142.9m, or $1.94 per share diluted, which inc... |
RMC pulls out of German sale option24 October 2003, Published under Cement NewsAs expected, European competition authorities have not looked too kindly upon a possible purchase by HeidelbergCement of RMC's German assets. RMC has announced that talks with HeidelbergCement have been discontinued after "meetings with the European Commission and the German competition authorities". RMC's chairman Sir John Parker said: "It was not possible to structure the transaction to overcome the regulatory issues with certainty and within the timeframe acceptable to RMC." The group... |
Lafarge reports23 October 2003, Published under Cement NewsSales down 8.6 per cent to €10,281m from €11,251m Negative foreign exchange impact due to Euro appreciation increase of year to date in underlying sales: + 3.0 per cent. Strong third quarter sales noted. Sales as at September 30, 2003 declined 8.6 per cent to €10,281m from €11,251m at September 30, 2002 largely due to significant foreign currency variations which impacted sales by -9.5 per cent. The net scope effect on sales amounted to -2.1 per cent mainly as a consequence of the divestm... |
Restructure leads to job cuts at RMC22 October 2003, Published under Cement NewsRMC is to axe 520 jobs as a result of restructuring to simplify the business to create a single organisation.The new organisation, effective from February 2004, will combine RMC's Readymix, Aggregates and Building Products divisions into a new company called RMC Materials. The UK cement division (Rugby bulk cement, Ash, Seament and Slag) will remain as a separate arm of RMC UK. RMC UK finance and business support director John Robinson said: "The restructure is designed to simplify the custo... |
Anhui Conch plans US$4.6bn boost21 October 2003, Published under Cement NewsAfter a 138 per cent profit gain this year, Anhui Conch will expand its capacity to meet surging demand Anhui Conch Cement, the mainland's largest cement producer, will spend five billion yuan in capital expenditure over the next two years to increase production capacity as demand soars. The Hong Kong listred share estimated that rapid economic growth and prolific infrastructure projects would lift consumption of cement 7 per cent this year, with the strong demand catapulting its net profit... |
CRH adds Danish, Finnish bolt-ons16 October 2003, Published under Cement NewsCRH has tied down two deals costing an estimated €100m in Denmark and Finland in thepast couple of months. The international building materials group yesterday confirmed the acquisition of Finland's largest manufacturer of concrete products. The purchase of Abetoni Oy from the German firm, HeidelbergCement, will extend theIrish group's reach in a country where it already owns the largest cement producer, Finnsementti. It was also acquired from the German group following its acquisition of Sc... |
Deutsche Bank: US Housing15 October 2003, Published under Cement NewsNew analysis from Deutsche Bank specialists suggests new US housing starts are still performing well US housing starts in August were at a seasonally adjusted rate of 1,820,000, 3.8 per cent below the revised estimate for July 2003 of 1,892,000 and 11.7 per cent above the August 2002 estimate of 1,630,000. Performing stronger, permits were at a seasonally adjusted rate of 1,886,000, 4.8 per cent above the revised July 2003 rate of 1,800,000, and is 10.7 per cent above the August 200... |
Cemex 3Q sales14 October 2003, Published under Cement NewsCemex sees imporoved results for the third quarter with improving sales in all its major markets apart from the United States Cemex, the world's third-largest cement producer has announced improved results for the third quarter, as sales grew strongly in all its main markets apart from the US. Net profits rose from US$17m to US$140m but this was almost entirely due to a US$247m loss in Cemex's securities portfolio last year. Earnings before interest, tax, depreciation and amortisation increa... |
Holcim purchase13 October 2003, Published under Cement NewsHolcim strengthens market presence in Eastern Mediterranean region with the takeover of Bogaz Endustri Madencilik in Northern Cyprus In order to further strengthen the Group's market presence in the Eastern Mediterranean region, Holcim (Liban) SAL - a group company of Holcim Ltd - will be taking over Bogaz Endustri Madencilik (BEM). Located near Famagusta in Northern Cyprus, BEM operates a grinding station with an annual capacity of 0.150Mt of cement and disposes of its own pier. In 2002, B... |
Rating Agency News09 October 2003, Published under Cement NewsS&P revises outlook on Portugal's Cimpor to negative following a continued downturn in the local cement market. Rating agency Standard & Poor's Ratings Services said on October 8, 2003 it had revised its outlook on Portuguese cement maker Cimpor-Cimentos de Portugal to negative from stable, following a continued downturn in the local cement market. Along with this, Standard & Poor's affirmed its BBB+ long-term corporate credit rating on the cement group. The rating on Cimpor continues to ref... |