Cement News tagged under: corporate
Cement output at Aditya Birla group cos, ACC dips in Aug08 September 2008, Published under Cement NewsCement production at the Aditya Birla Group companies – Grasim Industries and UltraTech Cement – was down 8.87 per cent at 2.12Mt in August. Dispatches dipped 5.39 per cent to 2.19Mt compared with the same period last year. However, between April and August, the output was up 1.11 per cent at 12.62Mt against 12.48Mt in the same period last year while dispatches grew 1.51 per cent at 12.6Mt (12.41Mt). ACC, has reported 5 per cent fall in production at 1.52 mt in August against 1.60 mt i... |
Holcim Raises Stake in Serbian Unit to 99.40%05 September 2008, Published under Cement NewsHolcim said it has raised its stake in its Serbian unit to 99.40% after a takeover offer and will squeeze out the remaining minority shareholders. Holcim intends to acquire the remaining 0.60% using its legal right to a squeeze-out, the company said in a statement to Serbia’s Central Securities Depository and Clearing House on Wednesday. It is offering to pay 4,600 dinars ($86/60 euro) per share, on par with the takeover price. The bid expires September 16. The Serbian company’s shares l... |
China cement producers upbeat on growth04 September 2008, Published under Cement NewsMainland cement companies are bullish about industry growth after reporting strong net profits for the first six months of the year. China National Materials (Sinoma), the world’s largest cement engineering service provider, said net profit grew 75.5 per cent from a year earlier to CNY295.23m (HK$337.72m) on an increasing number of overseas projects and higher sales prices. Revenue rose 26.76 per cent to CNY10.9bn. No interim dividend was recommended. "We aim at becoming the largest ce... |
Turkey’s Akcansa targets US$715m turnover in 200803 September 2008, Published under Cement NewsTurkish cement producer Akcansa is targeting revenue of over TRL850m (US$715m) in 2008, the general manager of the company Hakan Gurdal said on Tuesday. The company, which is owned by Sabanci Holding and Heidelberg Cement Group, had sales of TRL690.1m in 2007. Akcansa’s first-half net profit fell 31 per cent to TRL69.97m as sales rose 18 per cent to TRL405m. |
Madras Cements to issue bonus shares, India02 September 2008, Published under Cement NewsCement manufacturer Madras Cements tosay said it will issue bonus shares to the existing shareholders in the ratio of 1:1 and has decided to opt for stock-split. The shareholders of the company took a decision to this effect at its annual general meeting held on August 11, the Tamil Nadu-based firm today said in a filing to the Bombay Stock Exchange. The shareholders resolved to issue one fully paid bonus equity share for each share held by the existing members as on a date to be determine... |
China National Building Materials net profit soars01 September 2008, Published under Cement NewsHong Kong-listed China National Building Material Co, Ltd (CNBM), one of China’s largest building material manufacturers, announced its net profit reached RMB545.6m, a significant increase of 112.8% over the same period last year. According to the company’s statement filed with the Hong Kong Stock Exchange, during the reporting period its revenue was RMB 9.82bn, an increase of 169.6% year-on-year, with earnings of RMB 0.24 per share, up from RMB 0.12 per share. CNBM said the sharp rise in ... |
Saudi Arabian Cement Co 1H net profit up01 September 2008, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) registered a 5.2 per cent YoY increase in net profit to SAR205.6m (US$54.8m) in the first half of 2008. ACC’s operating profit stood at SAR215.1m (US$57.4m) for the six months ended June 30, 2008, up 14.1 per cent YoY, boosted mainly by stronger sales and higher revenue from affiliated companies. In the second quarter of 2008, the company booked a net proft of SAR90.4m (US$24.1m), a decrease from 102.3 mln riyals (US$27.3m) a year ago. |
PPC announces key executive appointments, South Africa27 August 2008, Published under Cement NewsIn line with its transformation philosophy and focus on the development and promotion of black talent from within, PPC is pleased to announce that four executive appointments have been made in the key areas of Technical Services, Sales and Marketing, Transformation, and at its operation in Zimbabwe. Roshni Lawrence has been promoted to Executive: Technical Services for the PPC Group. "This is a key role going forward," says Chief Operating Officer Dr Orrie Fenn. Lawrence spent the... |
Jidong Cement H1 revenue hiked 39.59% annually26 August 2008, Published under Cement NewsShenzhen-listed Tangshan Jidong Cement Co, Ltd reported CNY 2.232bn revenue for the first half of 2008, surging 39.59% YoY. The revenue came mainly for the sale of 12.0284Mt of cement and cement clinker, up 28.54% from a year earlier. Net profit reached CNY 154.34m, a year-on-year increase of 4.61%, though the company operated under the pressure caused by constant coal price increase, coal supply shortage, and a growth in transportation cost in the first half. Basic earnings per share ... |
Russia’s RTM replaces CEO after stake sale26 August 2008, Published under Cement NewsRussian real estate firm RTM said on Monday it was replacing General Director Eduard Vyrypayev after selling a large stake to new investors. RTM said last week it had sold a large stake to new investors including some with links to shareholders in Russian cement maker Sibirskiy Cement. It did not disclose the stake size, nor financial details of the deal. In a statement on Monday, RTM said its board of directors had named Sergei Khrapunov, a former Vice-President of Sibirskiy Cement, as ... |