Cement News tagged under: corporate
Italcementi suffers from cost pressures16 March 2004, Published under Cement NewsOn a turnover 0.5 per cent higher at €4284.7m, the operating profit at the EBITDA level at Italcementi declined by 4.3 per cent to €1060.9m as higher operating costs, particularly in respect of transport, were encountered. After a 1.7 per cent increase in depreciation and amortisation costs, the trading profit declined by 7.7 per cent to €656.4m, with the rate of reduction being reduced to 7.1 per cent at the running profit before tax level of €541.9m thanks to a 7.1 per cent drop in the net... |
Thai TPI Polene to erase retained losses16 March 2004, Published under Cement NewsThailand’s number three cement maker TPI Polene PCL said on Tuesday it plans to wipe out 19 billion baht (US$482m) retained losses by the end of the current quarter ending June 30, enabling it to pay dividends. The company would transfer its share premium, cash reserves and operating profit to erase the losses, senior vice president Prasert Ittimakin told reporters. "We expect to wipe out all of them by the second quarter," Prasert said. But he said the company had not decided on the divi... |
Chia Hsin Cement profit growth15 March 2004, Published under Cement NewsChia Hsin Cement Greater China Holding Corp reported a near-doubling in net profit last year. The cement maker reported net profit of US$19.0m in the 12 months ended Dec. 31, 2003, up from US$10.3m a year earlier. Revenue jumped to US$78.0m from US$67.8m in 2002. Earnings per share nearly doubled to 2.08 US cents. The 2003 profit figure is far better than the company forecast late last year, when it was preparing what would become one of Hong Kong’s most popular initial public offerings dur... |
Holcim completes Apasco deal15 March 2004, Published under Cement NewsUnder the public tender offer made to minority shareholders of Mexican Group company Holcim Apasco, a total of 57,931,967 shares held by third-party shareholders had been tendered to Holcim Ltd by the close of the tender period on March 12, 2004. Holcim is delighted that the offer has met with such wide acceptance. In accordance with the terms of the offer, Holcim will pay US$10.20 per share. This corresponds to a total purchase price of US$590.9m. Holcim’s interest in the Mexican Group comp... |
Torah cement impressive12 March 2004, Published under Cement NewsEgypt: Torah Cement released FY03 results ending December, in which the company recorded an impressive 15.3 x net income hike to LE55m (US$8.9m) compared to LE3.6m realized in FY02. The improved bottom line stemmed from a 10.6 per cent jump in revenues thanks to improving cement prices during FY03. Interest expense also dropped a significant 87.4 per cent at LE11.3m down from a comparable LE89.5m as the company settled the entirety of LE222m in short-term facilities at the beginning of FY03.... |
Lipetskcement ups cement production12 March 2004, Published under Cement NewsLipetskcement produced around 168,000t of cement in January 37.6 per cent up on year, according to Eurocement which controls the enterprise. The 2004 target is to maintain 2003 production at around 1.5Mt Lipetskcement to over 12 regions within Russia and also exp[orts cement to Azerbaijan. |
Holcim to detail Mexican unit offer11 March 2004, Published under Cement NewsHolcim will detail the outcome of a US$750m takeover offer for Mexico’s Holcim Apasco on Monday, it said Wednesday, as a planned cash call to finance the deal continued to weigh on its shares. The Swiss firm, the world’s second-largest cement company, aims to buy out other shareholders of its Mexican unit through a rights issue. The offer period ends on March 12. "After we have taken note of the result, we will comment on the Apasco offer on Monday," a Holcim spokesman said, declining to c... |
NY ruling on cement plant plans11 March 2004, Published under Cement NewsNew York state officials called on St Lawrence Cement to provide more data to better gauge the environmental impact a proposed expansion of its Hudson, NY, plant would have on the surrounding area including the Northwest Corner of Connecticut. "The head of the Department of State sent a letter to St Lawrence Cement’s project manager requesting more information on 10 quite broad topic areas, a host of things that comes under the Department of State’s purview of looking at the coastal issues,"... |
Lafarge Romania10 March 2004, Published under Cement NewsLafarge posted a turnover of 6.0 trln Romanian lei (US$187.5m) for 2003 from activities in Romania, up from US$176.8m for 2002, it was reported on March 9, 2004. The company operates cement plant Lafarge Romcim, stone quarrying company Lafarge Agregate Betoane and plasterboard producer Lafarge Arcom Gips, employing a total of 2200. Lafarge Romcim investment programme, agreed with the Romanian privatisation authority reached US$138.9m. Lafarge Romcim holds 33 per cent of the market. Lafarge... |
Egyptian Sinai Cement net profit rise10 March 2004, Published under Cement NewsEgyptian cement producer Sinai Cement reported an 81.6 per cent year-on-year surge in net profit to 35.56 mln Egyptian pounds (US$5.8m) for 2003. The increase in earnings resulted from a 12.5 per cent growth in net sales to 243.48 mln pounds ($39.4m), coupled with a 6.7 per cent fall in production costs. Sinai Cement was established by private investors in 1998 and was listed on the Cairo and Alexandria Stock Exchanges in 2000. |