Corporate
India Associated Cement 2Q Net
Indian cement major Associated Cement Companies Ltd. said its fiscal second-quarter net profit jumped 154 per cent on year because of a one-time gain from the sale of its refractory business. Net pro
Votorantim restructures cement business
Votorantim, the Brazilian industrial group, is restructuring Votorantim Cimentos (VC), its cement business. The group has appointed the engineer Walter Schalka as the new chairman of its cement divisi
Cemex continues to prosper
Cemex could have tripled its net profits in the third quarter of this year thanks to its acquisition of British firm RMC and gains from exchange rate fluctuations, according to Mexican newspaper La Re
India Cements raises $100m
India Cements Ltd on Friday said it has raised US$100m (about Rs 450 crore) by issuing about 2.3 crore global depository shares (GDSs). The GDSs, each representing two underlying equity shares of Rs
Chilean industry plans US$134m investments
The three companies that make up Chile’s cement industry - Bío Bío, Melón and Polpaico - are planning to invest a total of US$134m in 2006 given the record sales expected by the industry this ye
HeidelbergCement expands its presence in Turkey
Akçansa, a joint venture of HeidelbergCement and Sabanci Holding, has acquired the Ladik cement plant in an auction process carried out by the Turkish government. The plant with a clinker capacity of
Pakistan profits from earthquake disaster!
The devastating earthquake that has left over two million Pakistanis homeless is expected to trigger a huge demand for cement as the country begins its biggest ever reconstruction exercise. Share pr
Dalmia Cement to hive off sugar division
Dalmia Cement (Bharat) Ltd, which has interests in cement and sugar, plans to restructure itself into companies that deal with these two businesses separately. It has floated a subsidiary, Ramnagar Ch
Turkey Sells Bartin for $48m
Turkey’s Savings Deposits Insurance Fund, or TMSF, sold the Bartin Cement Factory for $48m to domestic cement producer Cimko Cim. ve Beton San. Tic. AS, or Cimko the Ihlas
IBT Securities buys Taiwan Cement shares
IBT Securities was a net buyer of 2.29 mln shares in Taiwan Cement Corp between Sept 19 and Oct 7, the Economic Daily News reported, without citing sources. The proprietary
Portugal BPI Ups Stake in Semapa
Portuguese investment bank Banco Portugues de Investimento (BPI) increased its participation in local cement company Semapa to 6.7 per cent of the share capital, it was
Wahana Tata Ready to Pay Lafarge’s Claim
PT Asuransi Wahana Tata promised to pay the insurance claim of PT Semen Andalas Indonesia following the conclusion of loss assessment by independent loss adjuster. Robert Jeremia, the President Direc
Sabanci takes the Standart prize
Sabanci Holding was unable to deter Cimentas, a subsidiary to the Italian Cementir Group, from taking over control of one of the cement factories that the Turkish Savings and Deposit Insurance Fund (T
Italcementi eyeing acquisitions in India, Thailand
Italcementi SpA is eyeing acquisition opportunities in India and Thailand, said Giorgio Ghinaglia, managing director at the cement maker’s Egyptian unit Suez Cement. "We want
Attock Group donates Rs 45 million
The Attock Group of Companies has announced a contribution of Rs 45 million towards the President’s Relief Fund for the earthquake victims. The employees of the group, which includes Pakistan O
Thai TPI Polene Q3 profit jumps on debt gain
TPI Polene PCL , Thailand’s third-largest cement maker, said on Wednesday its third-quarter earnings surged, due mainly to gains from restructuring the company’s hefty debts. TPIP report