Corporate

25 May 2006

Lafarge aims for over five per cent underlying sales rise

Lafarge is aiming for underlying sales growth of over five per cent per year but it gave no period for the forecast in slides posted on its website ahead of an annual shareholder meeting on Wednesday.

24 May 2006

Frere raises ’friendly’ stake in Lafarge

Lafarge’s future was in further question last night after the investment group run byBelgian financier Albert Frere raised its holding in the France-based cement maker to 10 per cent. Groupe Br

24 May 2006

Egyptian Ameriya Cement net profit up

Egyptian company Ameriya Cement almost doubled its consolidated net profit to 74.1 mln Egyptian pounds (US$12.8m) in the first quarter of 2006, compared to 40 mln pounds (US$6.9m) in the year-ago peri

24 May 2006

Holcim places 99.9 per cent of new shares

Holcim has sold 99.9 per cent of the new shares issued under its latest SFr1.7bn rights issue, the Swiss cement maker’s UBS Investment bank announced. In total, 21.055m shares were issued and

24 May 2006

Lehman Brothers becomes second largest shareholder in Italcementi

Through its International Europe division, investment bank Lehman Brothers now owns 2.35 per cent of Italcementi, making it the second largest shareholder in the Italian cement and concrete company. T

23 May 2006

ICI Bank buys 6% stake in Andhra Cement

ICICI Bank has finalised a deal with the GP Goenka group-promoted Andhra Cement (ACL) to pick up a 6% stake in the company for Rs 50 crore.

23 May 2006

Belgium’s GBL says has 10 per cent in Lafarge

Belgian holding company Groupe Bruxelles Lambert (GBL) now holds over 10 per cent of Lafarge , according to a statement from Euronext Brussels on Monday.

23 May 2006

Shareholders urged to back buyout of Chinea Resources Cement

China Resources (Holdings) took a step closer to privatising its locally listed cement subsidiary when an independent financial adviser hired by the company recommended shareholders accept the buyout

23 May 2006

Saudi YCC Q1 2006 net profit up

Saudi cement producer Yamama Cement Company (YCC) posted a net profit of 158.7m Saudi riyals ($42.3m) for the first quarter of 2006, down from 102.8m riyals ($27.4 mln/21.5 mln euro) for the same peri

22 May 2006

VP backs state firms to take Cemex

Vice President Jusuf Kalla has expressed confidence that the country’s state-owned enterprises are financially capable of purchasing Mexican cement giant Cemex SA’s stake in state-owned ce

22 May 2006

UAE National Cement – profits down

The net profit of UAE Dubai-based National Cement Company PSC declined to 55.7 mln UAE dirhams (US$15.2m) in the first quarter of 2006 from 66.2 mln dirhams (US$18m) a year ago, the company said in a

22 May 2006

Indocement upgrading plant capacity

PT Indocement Tunggal Prakarsa said it hopes to increase its annual production capacity to 16Mt after the completion of its revamping program. The company is upgrading one of its factories to incre

19 May 2006

FLSmidth Q1 earnings beat expectations, Denmark

FLSmidth & Co AS raised its sales and earnings guidance for the full-year 2006 after posting a first quarter pretax profit of DKr115m up from DKr50m the year before and above the consensus of DKr93m.

19 May 2006

Lafarge buys Brasov quarries

Lafarge Aggregate Betoane (Aggregate Concrete) bought several stone quarries in Brasov for some Euro 550,000 from Romaco. Lafarge has already used the quarries on lease contracts, Business Review repo

19 May 2006

Gansu Qilianshan Cement acquires Shoulushan, China

Gansu Qilianshan Cement Co., Ltd. has bought Shoulushan Cement Co., Ltd., the biggest cement producer in Baiyin City of the northwestern Chinese province of Gansu.

19 May 2006

Holcim increases profit and sales, Czech Republic

Czech cement maker Holcim raised sales by four per cent year-on-year to Kc2.2 billion in 2005, chairman Roland van Wijnen told CTK today