Cement News tagged under: corporate
Arabian Cement Co sells shares02 June 2004, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) has sold parts of its stakes in several local joint-stock companies, which has resulted in a profit of 72,149,160 Saudi riyals ($19.2m), it was reported on June 1, 2004. The proceeds from the sale of investments will be included in the company’s financial statements for the second quarter of 2004, the company said. |
Lafarge expects annual turnover increase02 June 2004, Published under Cement NewsLafarge expects to generate an annual turnover increase between 8.0 pct and 10 pct in middle term, the company’s managing director Bernard Kasriel said at the general shareholders’ meeting on May 25, 2004. After a difficult 2003 for the company, marked by the Iraq crisis, the challenging conditions, and two price wars for some of its products in the USA, the company should gather the fruits of the economic revival and generate a sustained operating profit increase, Kasriel added. |
BHA bought by GE02 June 2004, Published under Cement NewsGeneral Electric Co’s GE Energy division agreed to acquire BHA Group Holdings Inc., a provider of air-quality control products, for about $260 million. The $38-a-share acquisition is designed to broaden GE Energy’s offerings in renewable and clean energy production, the companies said. BHA, of Kansas City, Mo., has operations in 11 countries and makes filters, emission-control devices and other industrial air-pollution control equipment used at asphalt plants, hazardous-waste incinerators and... |
RMC share disposal01 June 2004, Published under Cement NewsRMC has announced that on 31 May 2004 it completed the sale of 28.9m shares in Adelaide Brighton Limited ("ABL"), representing 5.3% of the issued share capital of ABL, for which it will receive a cash consideration of A$1.30per share. The cash proceeds of A$37.6m (£14.8m) will be used to pay down debt. Together with the proceeds from the sale of 52m shares announced on 27 May 2004, RMC will receive cash proceeds during the current financial year of A$105.2m (£41.2m) from the disposal of ABL s... |
Alfa Cement to pay no dividend01 June 2004, Published under Cement NewsMoscow: Alfa Cement AGM decided May 27 not to pay 2003 dividend, allocating 29.961 mln rbl as the previous years profit to cover 89.8% of 2003 loss, the company said. KPMG was approved as an auditor. The holders also elected Holcim and Alfa Cement’s reps to the 5-seat Board of Directors. Holcim Ltd. announced in Jan. it held 68.8% stake in Alfa Cement. |
UAE prices boost shares01 June 2004, Published under Cement NewsAbu Dhabi: A surge in cement prices in the UAE sharply boosted the shares of cement firms and allied companies with increases in other share prices to lift the market to a record level. Turnover in May slipped back from a record monthly average of more than $1billion in April but dealers expect the trading value to cross the Dh20billion mark this year for the first time in the share dealing history in the UAE. Union Cement’s share shot up by around 203 per cent while that of Gulf Cement jumpe... |
Chinese cement loans01 June 2004, Published under Cement NewsChina’s banking watchdog said it will review all loans offered or loan commitments to fixed asset projects either under construction or still on paper in an effort to curb blind investment and cool the overheating economy. A senior official with the China Banking Regulatory Commission said the review involves all banking institutions, including the state-owned banks, shareholding commercial and agricultural banks, and rural credit unions and trust and investment companies. The official... |
Green light for CRH cement deal01 June 2004, Published under Cement NewsCRH has received clearance from Brussels for its 372m euro tie up with the Portuguese cement maker Semapa. The deal will see the Irish firm operating three integrated cement units in a joint venture with the Portuguese firm. It involves CRH buying 49pc of Semapa’s cement arm Secil for 372m euro, including Euro140m in debt. The joint venture will run the three cement plants with a total capacity of 4.2Mt, plus 41 mixed concrete plants and six quarries |
Kan to succeed Chumpol?28 May 2004, Published under Cement NewsWith company president Chumpol Na Lamliang expected to step down next year, young bloods are taking the helm at Siam Cement Group, one of Thailand’s oldest and biggest industrial conglomerates, reports Pichaya Changsorn. In announcing the appointments of five top executives - all of them under 50 years old - the board of directors of Siam Cement made it clear who the successors are for key positions at Thailand’s largest industrial conglomerate. For the first time in its 91-year histor... |
Rinker’s Earnings Get a Lift From US27 May 2004, Published under Cement NewsAnnual earnings for the Rinker Group Ltd’s annual earnings rose 12%, underpinned by the Australian construction-materials company’s extensive operations in the US and a better-than-expected performance by its local cement division. Rinker, which was spun off from CSR Ltd in March 2003, had net profit of A$426.8m (US$297.7m) for the year ended March 31. Revenue edged up to A$5.4 billion from A$5.36 billion. Earnings were bolstered by U.S. subsidiary Rinker Materials, the Readymix cement... |