Cement News tagged under: corporate
Mysore Cements allots shares30 March 2009, Published under Cement NewsMysore Cements Ltd has announced that pursuant to the Scheme of Amalgamation of Indorama Cement Ltd (IRCL) and HeidelbergCement India Pvt Ltd (HIPL) into and with the Company sanctioned by the Hon’ble High Courts of Bombay, Punjab & Haryana and Karnataka, the Company has allotted 6,86,03,351 fully paid equity shares of Rs 10/- each to the shareholders of erstwhile IRCL and HIPL on March 27, 2009. Further the Company has informed that out of the aforesaid equity shares, 6,86,03,255 equity sh... |
Ciments Francais shareholders contest absorption27 March 2009, Published under Cement NewsShareholder lobby group Adam contested the project for absorption of Ciments Francais by its parent Italcementi with stock market regulator AMF, reports French News Digest. Adam estimated unfair the conditions of the transaction, to be carried out through share swap. Colette Neuville, head of Adam, insisted on a ratio of one Ciments Francais share for 10 Italcementi shares, while the proposed ratio is one Ciments Francais share for 8.25 Italcementi shares. The other option the shareholders... |
HeidelbergCement Ukraine 2008 profit27 March 2009, Published under Cement NewsHeidelbergCement Ukraine, Dnipropetrovsk region, ended 2008 with a net profit of UAH262.616m, reports Ukrainian News. Assets of the company by late 2008 totaled UAH830.423m, and current liabilities UAH75.899m. Heidelbergcement Ukraine ended 2007 with a profit of UAH234.555m. In Ukraine Heidelbergcement holds 79.6% of the shares in Kryvyi Rih Cement (which owns the Kryvyi Rih Cement and Dniprotsement plants in Kryvyi Rih and Dniprodzerzhynsk respectively). |
TXI volumes fall both in Texas and in California27 March 2009, Published under Cement NewsIn the nine months to the end of February, Texas Industries saw its turnover decline by 13.9% to US$656.9m, while the pre-tax profit dropped from US$89.6m to US$32.5m. Net debt at the end of February stood at US$507.1m to give a gearing of 60.1%. Turnover in cement declined by 18.4% to US$285.4m and the trading profit dropped by 49.5% to US$38.9m. Cement deliveries were down by 16.3% to 2.85Mt (3.14Mst) while the average price was off by 2.3% to US$100.20/t (US$90.90/st). In the third q... |
Jaiprakash’s profit margins ‘may be little changed’25 March 2009, Published under Cement NewsJaiprakash Associates Ltd profit margin may be little changed this year, Chairman Manoj Gaur said, as electricity and construction costs increase at India’s biggest dam builder. Margins on profit before interest, tax, depreciation and amortization will “at least match last year’s,” Gaur said. Sales for the year ending March 31 may climb 34 per cent as public works spending revives local cement demand, he said. |
SCG expects better first quarter, Thailand25 March 2009, Published under Cement NewsThe Siam Cement Group (SCG) expects its first quarter to be better than the previous one as it will have no inventory losses and its petrochemical businesses will improve, president Kan Trakulhoon said yesterday. Last year, many businesses faced large losses on inventories purchased at high cost before the recession sent commodity prices plunging. SCG, Thailand’s largest industrial conglomerate, was among the businesses that booked inventory losses to curb risk exposure. Mr Kan said SCG ha... |
Cemex to sell properties to pay debt24 March 2009, Published under Cement NewsCemex is selling properties across Mexico to help pay off its debt amid talks to refinance its maturing bank loans, reports Reuters. The company published in local papers on Monday its plans to sell properties in the central states of Puebla and Guanajuato for residential, commercial and industrial use. "They are selling everything they can, everything helps," said an analyst who declined to be named. Cemex is struggling to repay US$4.1bn in debt maturing this year and faces debt payments... |
Nigeria: Lafarge Board to pay N1.8bn dividend23 March 2009, Published under Cement NewsThe Board of Directors of Lafarge Cement WAPCO Nigeria has proposed a gross dividend of N1.8bn to shareholders for 2008. Managing director/chief executive officer, George Lourandos, attributed the payment of enhanced package to the positive operations turnaround, enhanced performance indicators, robust production capacity, increased operating profit of 15 per cent over 2007 and cost mitigation ability of the management. Lourandos made this declaration Thursday at the company corporate head... |
HeidelbergCement extends contract of CEO23 March 2009, Published under Cement NewsThe supervisory board of HeidelbergCement extended the contract of CEO Bernd Scheifele by five years, a spokeswoman for the company said. Scheifele’s contract would have expired in January 2010. HeidelbergCement wants to reduce the size of its supervisory board so it will not fill the seats that have remained vacant after the deaths of tycoon Adolf Merckle and another supervisor, the spokeswoman said. HeidelbergCement plans to divest parts of its business and is looking for investors. In ... |
Indocement sees profit up 78%23 March 2009, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk, a unit of HeidelbergCement, expects sales to drop for the first time in six years as the local economy slows. The unit of Germany’s HeidelbergCement AG forecasts that Indonesian cement consumption could decline six per cent this year, after growing by 2.5 per cent in 2008, finance director Christian Kartawijaya said. The company last year sold 12.3Mt of cement in Indonesia. A drop in sales volumes and a 6.1 per cent depreciation of the rupiah may affect ... |