Corporate
Demands not met, but no worries
The Indian cement industry expected a lot from this budget. But it has to be content with the fact that the continued focus on infrastructure development in the budget, if translated into action, shou
Government & Cemex to continue out of court negotiations
Indonesian government and Mexico based company Cemex Asia continued their out of court negotiation on Semen Gresik even though until yesterday there had not been any conclusion on that. The Senior Ec
Spanish Cementos Portland posts lower profits
Cementos Portland Valderribas SA posted an attributable profit of Euro 116.1m for 2004, a 21.8 per cent year-on-year decrease, the company said on February 28, 2005. The decrease resulted partially f
Holcim extends Aggregate Industries bid
Holcim said it is extending its takeover bid for Aggregate Industries PLC to March 21. Holcim said it now owns 78.4 per cent of the UK-based company after receiving acceptances from Aggregate Industr
Adana Cimento plans to make investments this year
Turkish cement producer Adana Cimento announced its investment, production and sales targets in the 2005 budget. The company plans to make TRY 9.5mn investment this year,
CRH’s views on sector consolidation sought next week
CRH PLC’s views on the consolidation of the European cement industry and whether it plans to get involved in the latest round of takeover activity will be a major talking point when the Irish-ba
Holcim Maroc net profit down
Holcim Maroc, a subsidiary of Swiss cement supplier Holcim Ltd, posted a consolidated net profit of 354 mln Moroccan dirhams ($42m) for 2004, down 15.1 per cent year-on-year.
India Cements puts off sale
India Cements has decided to defer plans to sell its manufacturing units in Andhra Pradesh flowing a large infusion of funds from overseas investor Asia Debt Management. The
Cemco tender offer
The Philippine Securities and Exchange Commission will stand by its decision ordering Cemco Holdings Inc. to conduct a tender offer for minority shareholders of Holcim
Holcim Philippines continues rise ahead of Cemco’s tender offer
Shares of Holcim Philippines Inc extended recent gains ahead of Cemco Holdings Inc’s tender offer to Holcim’s minority shareholders, dealers said. In mid-morning trade, Holcim,
Heracles says 2004 pretax hit by end of Olympics
Greek cement producer Heracles Cement, majority-owned by France’s Lafarge posted an 8.2 per cent drop in 2004 group pretax profit to 107.4 million euros, hit by slowing volume as Olympics-relate
Holcim scores SEC order on tender offer
Publicly-listed cement firm Holcim Philippines Inc. said that the decision of the Securities and Exchange Commission to reverse its policy on tender offers sends a wrong signal to investors. In a pres
Saudi Qassim Cement recommends dividend
The management board of Saudi cement producer Qassim Cement Company (QCC) proposed on February 23, 2005 a cash dividend payment of 22 Saudi riyals ($5.89) per share
Hanson says FY profit beats its forecasts
Hanson PLC said a 5.6 per cent rise in annual profit beat its expectations, reflecting a ’strong finish’ in all divisions, and boosted by a UK£7m gain from two property deals closed at the
Profits rise at Lafarge
Lafarge said Thursday its net profit rose 19 per cent last year and said it expects operating profit growth to slow due to high energy costs in 2005.
Indocement minority shareholders approve debt-refinancing scheme, Indonesia
PT Indocement Tunggal Prakarsa’s minority shareholders approved the cement producer’s debt-refinancing scheme worth US$150m, the company said in a statement.