Cement News tagged: Corporate
YTL Corp posts strong results
YTL Corp Bhd yesterday reported a 28 per cent increase in net profit, achieved on record revenue for the year ended June 30 2005. Net profit was RM587.1 million versus RM459.7 million recorded last ye
Titan advances despite weaker Greek market
Turnover in the first half rose by 12.2 per cent to €612.9m, which amounts to a 14.7 per cent increase at constant currencies. The operating profit at the EBITDA level advanced by 11.1 per cent to €1
Axa cuts stake in Germany’s HeidelbergCement
French insurer Axa has cut its stake in HeidelbergCement , the German cement maker said in a newspaper notice on Friday. HeidelbergCement said Axa notified it that it had reduced its stake in the co
Arabian Cement H1 down
Saudi cement producer Arabian Cement Company (ACC) posted a net profit of 165.9 mln Saudi riyals (US$44.2m) for the first half of 2005, down 13.6 per cent year-on-year. The
Courts reject cement companies’ appeals
Argentine legal authorities have provisionally confirmed the record 310mn-peso (US$106m) fine imposed on five cement companies for allegedly agreeing to split up the market and raise prices, according
India Gujarat Ambuja to sign loan
One of India’s leading cement makers Gujarat Ambuja Cements Ltd said it will next week sign a three-year loan for $100m to partly refinance an earlier loan. "The new loan will partly replace ou
IFC to invest in cement works in Iraq
International Finance Corporation is apparently considering the possibility to invest US$210.3m in the construction project of cement works in Iraq with a productive capacity of 2.9Mta. IFC also inten
Holcim H1 net seen up on acquisitions, prices
Holcim , the world’s second biggest cement maker, is set to report higher first half sales and earnings on Thursday as recent acquisitions and price increases more than offset higher energy cost
Andhra Cem in talks to place 15 per cent stake, India
Gouri Prasad Goenka is in advanced stage of discussions for a private placement of close to 15 per cent stake in Andhra Cements. Goenka confirmed that talks were on but said nothing was finalised yet.
Siam Cement names new president
The board of Siam Cement, Thailand’s largest industrial conglomerate, has, as expected, appointed Executive Vice President Kan Trakulhoon as its new president, replacing Chumpol NaLamlieng, who
Holcim Cesko buy-out bid
Holcim plans, which controls 96 per cent in its Czech unit Holcim Cesko, will launch a buyout bid for the remaining shares in the company, it was announced on August 16, 2005. Holcim will offer Holci
PCLA allocates profits to its investment fund
Shareholders of cement producer Povazska Cementaren, Ladce (PCLA) decided to allocate 89.4 per cent from its last year’s profit into its investment fund. From the total taxed profit that reached SKK17
Titan expected 1H rise
Greece’s Titan Cement is expected to announce a rise in first half year EBITDA of 2.2%under IFRS next Friday on the back of growth from its US and Balkan operations, offsetting weak post-Olympic
Merckle raises HeidelbergCement stake to 76%
The takeover vehicle of German billionaire Adolf Merckle, Spohn Cement, and its affiliates now control 76 per cent of HeidelbergCement after buying more of the cement maker’s shares from the mar
Italcementi wins 98.5% acceptances in ASEC Cement bid
Italcementi SpA’s takeover offer for ASEC Cement has won acceptances totaling 98.5% of the Egyptian company’s capital, a financial source said.
JP Morgan may pick up 25% in Binani Cement
An equity fund controlled by JP Morgan Chase is likely to pick up 25 per cent stake in Binani Cement for around Rs 150 crore. JP Morgan’s restructuring fund, it is learnt, will invest in the cem