Corporate

28 March 2006

Saudi Cement Co net profit rises

Saudi Cement Company (SCC) posted a net profit of 484.3 mln Saudi riyals ($129.1m) for 2005, up from 437.5 mln riyals ($116.6m) a year ago. The increase was supported by a rise in total revenue to 56

27 March 2006

HeidelbergCement wants more consolidation

HeidelbergCement AG believes it should play a major role in the consolidation of the cement industry and wants to make a further acquisition, CEO Bernd Scheifele said in an interview with Boersen-Zeit

27 March 2006

Cement Australia takes miner off the market

The parent company of Tasmanian coal miner Cornwall Coal has decided to keep the business. Cement Australia put the company on the market six months ago to see if there was a prospective owner who wou

27 March 2006

CCI employees to agitate for revival of unit

Workers and employees of the closed Cement Corporation of India’s (CCI) Adilabad plant have threatened to launch agitations, including a fast unto death, as the unit has not been considered for

27 March 2006

HeidelbergCement waits on Turkish decision

HeidelbergCement is awaiting the results of a State Council decision to stop controversial move that denied its Turkish partner, Akcansa, the acquisition of a domestic cement company. In a tender held

27 March 2006

Lafarge interested in Semen Gresik

Lafarge SA has reportedly expressed its seriousness in buying Cemex Asia Holdings’s 25.53 per cent in PT Semen Gresik at market price. The serious commitment of Lafarge, confided one executive k

24 March 2006

HeidelbergCement has no plans to delist

HeidelbergCement AG said it isn’t planning to delist from public trading. Chief Executive Bernd Scheifele, speaking at the company’s 2005 earnings press conference, said there weren’

24 March 2006

Holcim Romania higher turnover

Holcim Romania expects its turnover to reach 190 million euros this year, although the sales were some 9-10 percent under the company’s estimates in the first quarter of 2006, the Ziarul Financi

24 March 2006

Florida Rock Industries announces Lake Belt ruling

Florida Rock Industries has announced that on March 22, 2006, the United States District Court for the Southern District of Florida ruled that several mining permits for the Lake Belt area in South Fl

24 March 2006

Yamama Cement seen more promise

Saudi cement producer Yamama Cement Company expects a 50 per cent year-on-year increase in its net profit for the first quarter of 2006 to 150 mln Saudi riyals (US$40m), the company said on March 21,

24 March 2006

Holcim offer for Gujurat Ambuja delayed

Holcim Ltd.’s open offer for Gujarat Ambuja Cements Ltd. , which was scheduled to open on March 25, will be delayed by a few days, a source close to the offer said on Friday. Holcim had bought

23 March 2006

Saudi Arabian Cement posts higher profits

Saudi cement producer Arabian Cement Company (ACC) based in Jeddah posted a net profit of 330.9 mln Saudi riyals (US$88.2m) for 2005, up 306.4 mln riyals (US$81.7m) a year ago. The increase was supp

23 March 2006

Kuwait Cement profit up almost double

Kuwait Cement said its 2005 profit jumped 95 per cent to KD37.7 million (US$129m), almost 77 per cent of it in ’unrealised profits’. The company said in a statement on the Kuwait bourse We

23 March 2006

Results of tender to explore and develop

Saratovnedra announces deadline for accepting bids for exploration and development of the Tersinskoye limestone deposit located in the Saratov region. Among bidders are those of Eurocement Group, IKA-

23 March 2006

China building firm surges on US$231m debut

Shares in China National Building Material Co. (CNBM) surged 18.2 per cent in their US$231m Hong Kong trading debut on Thursday, as investors clamoured to profit from China’s booming economy.

22 March 2006

JP Morgan investing in Andhra Cements

Global finance major JP Morgan is investing Rs 73 crore by way of debt and equity in Andhra Cements Ltd. The size of the equity has been pegged at Rs 24 crore and it would be invested through one of