Cement News tagged under: corporate
Beni Suef losses25 March 2004, Published under Cement NewsEgyptian cement company Beni Suef Cement reported a net loss of 318.8m Egyptian pounds (US$51.7m) for 2003, up from 84.92m pounds (US$13.8m) in 2002. The wider net loss came despite an 11.4 per cent year-on-year increase in net sales to 244.28m pounds (US$39.6m), coupled with a 6.6 per cent growth in the cost of goods sold to 186.49 mln pounds. Beni Suef Cement has a capital of 330 mln pounds ($53.5m) divided into 33 million shares at a par value of 10 pounds ($1.62/1.32 euro). The company i... |
Eurocement gains25 March 2004, Published under Cement NewsIn the first two months of this year, the Eurocement holding company produced more than 728,000t of cement, up 11.4 per cent year-on-year. In the period, bagged cement production increased by 11 per cent year-on-year to 40,500. Maltsovsky PortlandCement, part of the holding company, produced 300,000t. Eurocement, Russia’s biggest cement holding company, controls 20 per cent of the Russian and 60 per cent of the Moscow cement market. In 2002, the company made over 7Mt of cement. The company ... |
Corporacion Noroeste to keep expanding25 March 2004, Published under Cement NewsCorporacion Noroeste, the Spanish subsidiary of leading Portuguese cement producer Cimentos de Portugal (Cimpor), plans to carry on expanding this year in the Spanish autonomous region of Andalusia by taking over some quarries as well as cement production plants and cement trading companies. The company invested 220m and 13.5m euros in 2002 and 2003 respectively to strengthen its position in this Spanish region, because of its big potential for the company. Corporacion Noroeste recorded turn... |
Taiwan cement company dividend boost24 March 2004, Published under Cement NewsThanks to the surge of cement prices and the contribution of invested subsidiaries in mainland China, Taiwan’s listed cement firms posted substantial profit growth last year and will distribute handsome dividends this year. Asia Cement Corp. will deal out NT$1.3 (US$0.03 at US$1:NT$33.3) in dividend per share, half in stock and half in cash, this year, hitting the highest record in three years and outnumbering rival domestic cement firms. Universal Cement Corp. will see per-share-dividend t... |
TPIPL - Strong earnings growth24 March 2004, Published under Cement NewsAfter meeting with TPI Polene (TPIPL) recently at an analyst’s meeting, The core business of TPIPL is viewed to continue to strengthen this year. TPIPL is expected to benefit from increased government spending on infrastructure projects during 2004-2009, including the Suwanaphum International Airport (NBIA), mass transit projects, the New City in Nakhon Nayok, and installation of new gas and water pipeline networks. The prospects over the next two years look very promising given robust domes... |
Soboce issues US$35m bonds24 March 2004, Published under Cement NewsBolivia’s leading cement producer, Soboce, issued US$35m in bonds Monday (Mar. 22) to help restructure its debts. Issued as "Soboce bonds IV", interest will be payable every 180 days. Pacific Credit Ratings has rated the bonds at AA3. The company is still waiting to see if a proposed merger with rival Fancesa will proceed. Soboce owns one third of its smaller rival and is waiting for another shareholder to decide whether to proceed with the merger. |
Semapa To Receive sizeable capital gain24 March 2004, Published under Cement NewsPortuguese cement group Semapa is expected to pocket a capital gain of some Euro 50m from the sale of its 45.126 per cent stake in Portugal’s cement producer Secil, it was reported on March 23, 2004. Semapa will sell the stake for Euro 372m to Irish industrial and trade group CRH in a deal announced on March 22, 2004. The Portuguese cement group acquired earlier a 41.6 per cent stake in Secil offered for sale from the Danish engineering groups FLS Industries and Hojgaard Holding for Euro 30... |
Cement Hranice sees profit growth24 March 2004, Published under Cement NewsCzech building materials maker Cement Hranice, a unit of Germany’s Dyckerhoff Zement International, made an audited net profit of Kc408.3m for last year, a yr/yr rise of 11 per cent, and sales added more than 12 per cent to Kc1.515bn, CEO Jaromir Chmela told local reporters. "Besides a higher number of construction orders, the performance was largely affected by cutting personnel costs by Kc17m and a larger usage of alternative fuels and raw materials," Chmela said. Exports made up close to ... |
FIIs silent on L&T cement demerger24 March 2004, Published under Cement NewsForeign institutional investors can sometimes think and operate quite differently from their Indian counterparts. The shareholder poll on the amendments moved by minority shareholders to the main resolutions at the court-convened meeting of Larsen & Toubro on February 3 this year rather illustrates this point. The poll papers show that most of the FIIs who were represented at the meeting abstained from voting on the amendments moved by the minority shareholders although they voted in favour ... |
Monarch Cement’s earnings hit two year low24 March 2004, Published under Cement NewsEBITDA for The Monarch Cement Company for its quarter ended December 31, 2003 was $3,826,187, a 21 per cent decrease over the year earlier same quarter when Monarch Cement generated $4,846,099 in EBITDA. Monarch Cement has generated thirty-two consecutive quarters of positive EBITDA. EBITDA for the most recent quarter also reached a two year low. For Monarch Cement’s twelve months ended December 31, 2003 EBITDA was $15,852,957, compared with $21,560,622, a 26 per cent decrease over the comp... |