Cement News tagged under: corporate
Cement merger on the cards?21 May 2004, Published under Cement NewsThe Competition Tribunal is expected to hear two large mergers next week between three cement manufacturers -- Alpha, PCC and Lafarge -- and a proposed transaction involving investment holding company Venfin Limited and development and design company Intervid Limited. According to the tribunal, Alpha is acquiring the two-thirds of the shares in Slagment that it does not own from PPC and Lafarge. Slagment manufactures ground slag, which is used in the cement industry. Slagment is a joint ven... |
CSR unlikely to pursue Adbri20 May 2004, Published under Cement NewsCSR Ltd has indicated it is unlikely to pursue Adelaide Brighton Ltd after Boral Ltd’s takeover bid for the cement producer was rejected by the consumer watchdog. CSR chief executive Alec Brennan said any acquisitions had to be a value-adding proposition to be viable. CSR forecast a softer housing market in Australia and continued low sugar prices for the next 12 months. Mr Breenan said based on these uncertain factors, its pre-tax profit for the year ending March 2005 was likely to... |
Tarmac: no more UK cement plant plans19 May 2004, Published under Cement NewsChief executive Robert Robertson says the £115m Buxton facility upgrade is final UK project. Tarmac has no plans for any further cement factories in the UK beyond the new £115m plant at Buxton which is scheduled to open by October, chief executive Robert Robertson told CJ. Cement production from the upgraded Buxton Lime plant will lift Tarmac’s UK output from the present figure of 300,000t a year to 800,000t, giving it a 6% market share. "At Buxton, there was lime slurry that had to ... |
Juan Minetti Q1 net profit falls 55.8%19 May 2004, Published under Cement NewsJuan Minetti, Argentina’s second largest cement producer, saw first quarter net profits drop 55.8% to 28.8m pesos (US$10m) from 1Q03 due to exchange rate differences, the company said in a statement to the country’s securities regulator. For the period, operating profit increased 73.2% to 45.9mn pesos and net sales grew 33.3% to 110mn pesos. In 2003, increased sales and a successful financial restructuring helped Minetti post a 121mn-peso net profit, recovering from a 210m-peso net lo... |
Indonesian producer loses Rp 14b in 200318 May 2004, Published under Cement NewsCement maker PT Semen Cibinong, a subsidiary of Holcim , has recorded a loss of Rp14bn (US$1.5m) last year due in part to a decline in exports. Other factors that caused the losses were the increased costs associated with improved employee benefits, in-process projects and long overdue maintenance costs, the company said in a statement announcing the results after a shareholders’ meeting on Monday. "The main problem was an ability to increase prices in line with general cost increase... |
Philippines Republic cement 1Q net lifted by acquisitions18 May 2004, Published under Cement NewsPhilippine producer Republic Cement Corp said it swung to a net profit in the first quarter after a substantial loss in the year-ago period on account of its recent acquisitions, an increase in cement prices, and the absence of cement imports. Republic Cement said it made net profit of PHP235.7m in the first quarter, a reversal from a loss of PHP223.4m in the year-ago period. Net sales for the quarter jumped to PHP2.34bn from PHP1.18bn in the year-ago period due to additional cement ... |
Lafarge names Blatz head of aggregates, concrete18 May 2004, Published under Cement NewsLafarge has put Jean-Charles Blatz in charge of its aggregates and concrete business following the departure of Charles de Liedekerke, it said on Monday. Blatz has spent his whole career at Lafarge, joining in 1970 as head of Ciments Lafarge’s organisations and methods group. He has been manager for the cement unit’s Mediterranean region and trading operations since 1995. The aggregates and concrete division had sales of EUR4.465bn last year and employs 20,547 people. |
Cementir boosted by Turkish recovery17 May 2004, Published under Cement NewsThe first quarter turnover at the Italian cement producer Cementir rose buy 13.7% to €71.4m while the EBITDA was little changed at €16.1m, though the trading profit advanced by 12.8% to €8.8m and the positive interest live produced an advance in the pre-tax profit of some 57% to €11.0. Turnover in Italy rose by 2.7% to €45.4m, while the Turkish subsidiary Cementas pushed turnover ahead by some 40% to €26m. Thanks to a strong recovery in Turkish cement demand, Cementas domestic deliveries ro... |
China’s cooling may help majors17 May 2004, Published under Cement NewsChina’s move to rein in building industries to cool its surging economy is expected to wipe out thousands of small cement plants and give foreign firms a crack at the world’s biggest market. Beijing has long wanted to shut the myriad of small, often unprofitable, low-quality cement makers that sprang up in the 1980s. "My sense is the central government has finally lost patience and slammed down its iron first," said Simon Francis, a Hong Kong-based analyst at ING Securities. When Chines... |
Holcim Shareholders Approve17 May 2004, Published under Cement NewsShareholders of Swiss cement company Holcim Ltd. Friday approved the firm’s capital increase and dividend payout, the company said. Holcim shareholders agreed to the capital increase of approximately CHF1.5 billion, paid through the issuance of 28.74 million new registered shares. Holcim shareholders also approved the dividend payout of CHF1.15 a registered share, the company said. |