Cement News tagged under: corporate
HeidelbergCement and H+H sell joint venture08 March 2004, Published under Cement NewsHeidelbergCement and the Danish-based aerated concrete producer H+H International are selling their joint venture H+H Fiboment to its management backed by private equity firm Procuritas Capital Investors for an undisclosed amount. H+H Fiboment was formed in 2000 through the joint sellers merging their pre-cast lightweight concrete panels and the disposal forms part of both HeidelbergCement and H+H International concentrating on their core activities. H+H Fiboment, which will have to change... |
FLS is looking to sell Aalborg Portland and Unicon05 March 2004, Published under Cement NewsTurnover at FLS Industries declined by 9.3 per cent to DKr14,911m (€2006.6m) in 2003, principally reflecting the divestment of non-core businesses. Continuing high processing costs at the environmental division FLS Miljø led to the group reporting a loss even at the EBITDA level. This was DKr101m (€13.6m) compared with a DKr317m profit in 2002. As substantial reduction in shareholders’ funds, principally by writing down the assets of FLS Aerospace where a sale was agreed last month, geari... |
Imerys’ running profit advances05 March 2004, Published under Cement NewsTurnover at Imerys declined by 4.7 per cent to €2,729.2m as exchange rate movements took their toll, but at the underlying level there was a 2.8 per cent increase. The EBITDA emerged 5.1 per cent lower at €501.5m. The negative currency effect was largely restricted to the minerals-based operations that operate in global markets. Helped by lower depreciation and interest costs, the running profit before tax rose by 10.6 per cent to €326.0m. Net debt fell by 14.9 per cent to €986.3m and th... |
TPI Polene gains04 March 2004, Published under Cement NewsTPI Polene Plc (TPIPL), the country’s third-largest cement producer, projects that its 2004 income will expand by at least 15 per cent from last year’s income of 19 billion baht on the back of higher prices for cement and plastic pellets. “We believe our revenue will increase by about 15 percent this year since prices of cement and plastic pellets climbed up by about 10-15 percent,” Prasert Ittimakin, senior vice president of TPIPL said. Meanwhile, TPIPL chief executive officer Prachai Leop... |
Pacasmayo profits tick up on Zemex purchase03 March 2004, Published under Cement NewsPeru’s third largest cement maker Cementos Pacasmayo has reported 2003 profits of 56.8mn soles (US$16.9m), up 2.16 per cent up on the 55.6mn soles reported in 2002, according to information the company gave the Lima Stock Exchange. A positive contribution from industrial operations from new subsidiary Zemex Industrial Minerals more than made up for lower cement sales. Cement production fell 3.82 per cent from 741,463t in 2002 to 713,145t in 2003. Pacasmayo bought Canadian minerals company Z... |
Weather and currencies depress CRH03 March 2004, Published under Cement NewsThe Dublin-based building materials group CRH plc produced a 2.6 per cent increase in turnover to €11,079m, in spite of adverse exchange rate movements, particularly the US dollar followed by the Polish zloty, and weather conditions. At constant exchange rates, turnover advanced by 14.9 per cent. The operating profit at the EBITDA level emerged a marginal 0.1 per cent lower at €1502.9m while the trading profit was off by 0.3 per cent to €1044.7m. Helped by a 14.8 per cent reduction in the... |
Lion’s Share scooped Up by 20 big Investors03 March 2004, Published under Cement NewsKamol Leosivikul, president of Mida Assets, topped the list of investors purchasing new shares of TPI Polene in January, according to papers filed with the Securities and Exchange Commission. Mr Kamol purchased a total of 10 million shares for 370 million baht, or 3.33 percent of the total offering. The country’s third largest cement producer floated 300 million shares for 37 baht each and a par value of 10 baht each in its public offering from Jan 15 to 19. The lead underwriter was Tisco,... |
Aggregate Industries raises stake02 March 2004, Published under Cement NewsAggregate Industries increased turnover by UK£5.9m in 2003 to UK£1458.9m (US$2392.6m) but unfavourable trading conditions in the United States and a falling US dollar reduced the increase in the operating profit at the EBITDA level to just 0.9 per cent to UK£241.2m (US$395.6m) and the trading profit (EBIT) emerged a marginal 0.4 per cent lower at UK£167.5m (US$274.7m). Thanks to a much reduced interest charge, the pre-tax profit still increased by 4.2 per cent to UK£140.1m (US$229.8m). The... |
Siam City Cement named the best02 March 2004, Published under Cement NewsSiam City Cement Plc (SCCC), Thailand’s second largest cement manufacturer, has been named the best company in Thailand, followed by Kudu Co and Land & Houses Plc, in the Euromoney Asian company survey. SCCC was also rated the Best Asian Company in the construction sector followed by Gamuda (Malaysia) and Siam Cement respectively. The magazine’s eighth annual rankings were based on a survey of market analysts at major banks and research institutes. All respondents were asked to nominate the... |
Cima to issue Islamic bonds02 March 2004, Published under Cement NewsMalaysia: Cement Industries of Malaysia Bhd. said Monday its Negeri Sembilan Cement Industries Sdn. Bhd. subsidiary has received regulatory approval to issue 330 million ringgit ($1=MYR3.80) in Islamic notes and bonds. Negeri Sembilan Cement, will issue up to MYR130 million in seven-year bonds, Cement Industries said in an exchange filing. Negeri Sembilan Cement will also issue five tranches of notes and bonds with maturities of one to five years worth MYR200 million. AmMerchant Bank is t... |