Cement News tagged under: corporate
BBL approves new TPI debt plan06 April 2004, Published under Cement NewsThai Petrochemical Industry Plc’s (TPI) largest creditor, Bangkok Bank Plc (BBL), said it has approved ’in principle’ TPI’s new debt restructuring plan. BBL chairman Chatri Sophonpanich, pictured right, said over the weekend, the plan covers US$2.9 billion in debts that TPI owes to various creditors. BBL currently has the largest share of these debts followed by German development bank KfW, the International Finance Corp, Bank of Ayudhya Plc, Citibank (Bangkok branch) and the US Export and... |
Moroccan Lafarge Ciments posts good profits06 April 2004, Published under Cement NewsMoroccan cement company Lafarge Ciments’s 2003 consolidated net profit rose 13.6 per cent year-on-year to 784 mln Moroccan dirhams (US$87.6m), the company’s CEO Jean Marie Schmitz told a news conference, held on March 30, 2004. The company’s gross operating profit stood at 1.386 bln dirhams (US$154.9m), while its consolidated turnover went up 12.3 per cent to 2.986 bln dirhams (US$333.7m). The results were attributed to a 9.1 per cent rise in sales and to an increase of the average prices i... |
Egyptian Ameriya Cement06 April 2004, Published under Cement NewsEgyptian cement producer Ameriya Cement, majority owned by Cimpor reported a 58.1 per cent year-on-year drop in net profit for 2003 to 20.87 mln Egyptian pounds (US$3.4m). The decrease in earnings came despite a 14 per cent growth in net sales to 370.95 mln pounds (US$60.5m), coupled with a 10 per cent increase in the cost of goods sold to 244.26 mln pounds (US$39.8m). Gross profit jumped to 126.69 mln pounds (US$20.7m) from 53.91 mln pounds (US$8.8m). The company’s results were affected by... |
Boral delay on AdBri deal05 April 2004, Published under Cement NewsBoral has extended for the second time its A$1 billion-plus takeover offer for cement maker Adelaide Brighton until May 7. The move was not unexpected, as the company awaits regulatory approval from the Australian Competition and Consumer Commission, which is still investigating the merger. The ACCC has asked for additional information from the two parties and will not be ready to make a decision for some time. Citigroup Smith Barney said in a report that while the timing of ACCC’s approv... |
Wienerberger continues to grow02 April 2004, Published under Cement NewsThe leading clay products group Wienerberger AG has reported an increase in turnover for last year by 10.5 per cent in 2003, to €1826.9m and an operating profit at the EBITDA level 15.6 per cent higher at €349.9m, with margins widening from 18.3 per cent to 19.2 per cent. The strongest growth came from the operations in north-western Europe, where the EBITDA rose by 54.4 per cent to €88.0m, benefiting from an initial contribution from the 50 per cent stake in Koramic Roofing and the full eff... |
Thai TPI to repay some debt01 April 2004, Published under Cement NewsThai Petrochemical Industry PCL, will issue 11.8 billion new shares for a debt swap at 2.28 baht each and repay some debt with shares in its cement unit, its management team said on Thursday. TPI would repay 10 billion baht of debt with 249 million shares it held in TPI Polene PCL, at 40 baht each, Siri Jirapongphan, a member of the government-appointed TPI management team told Reuters. TPI shares were suspended from trading on Thursday morning trade pending the announcment of the plan. |
Turkish Batisoke Cimento01 April 2004, Published under Cement NewsTurkish cement and clinker producer Batisoke Cimento decided at its management board meeting on March 30, 2004 to boost its paid-in capital to 56.25 trln Turkish lira ($42.7 mln/34.9 mln euro) from 11.25 trln lira ($8.5 mln/7.0 mln euro). The company said in a statement to the Istanbul Stock Exchange (IMKB) that the capital increase will be carried out through a 400 pct bonus issue. A total 45 trln lira ($34.2 mln/27.9 mln euro) will be covered from the company’s revaluation funds. Batisoke ... |
Dyckerhoff’s profits and balance sheet improve01 April 2004, Published under Cement NewsDyckerhoff’s operating profit at the EBITDA level rose by 1.8 per cent to €274.0m, in spite of the devastating effect of the price war in Germany, thanks to considerable savings being achieved under the ‘Dyckerhoff 21’ cost cutting programme and even in Germany profitability improved by some €20m. At the running profit level before tax, Dyckerhoff achieved a profit of €30.1m compared with a loss of €34.8m in 2002. The group turnover fell by 14.7 per cent to €1.319m, reflecting a combinatio... |
Melón 2003 net profit up 6.68%31 March 2004, Published under Cement NewsChilean cement company Empresas Melón posted a 16.6bn peso (US$26.8m) consolidated net profit in 2003, up 6.68 per cent from the year before, Melón said in a statement to the country’s securities regulator (SVS). For the period, revenue increased 9.34 per cent to 139bn pesos and operating profit grew 26.8 per cent to 26.7bn pesos. In 2003, Melón, controlled by France’s Lafarge, held a 36.4% market share. Cement deliveries in Chile grew 4.6 per cent in 2003 to 3.62Mt, the highest since 1998 ... |
Holcim Slovakia31 March 2004, Published under Cement NewsThe largest cement producer in Slovakia, Holcim (Slovensko), Rohoznik, earned a net profit of SKK 111 million last year. "The company’s profit decreased compared with the previous year, while the acquisition of three concrete ready-mix plants and merger with Holcim Beton a.s., were the most significant factors behind this drop," reported company representatives. Holcim’s turnover increased in Slovakia to SKK 3.4 billion last year. An investment of over SKK2 billion into the modernization of ... |