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FINANCIAL NEWS SOUTHDOWN, INC. said it expects to report a first-quarter net income of 67 cents to 74 cents a diluted share, exceeding analysts' forecasts, as good weather helped boost its cement sales. The maker of cement and other construction materials said its results would reflect a one-time gain of 10 cents per share from the sale of an aggregates facility during the period. In addition, Southdown announced that its board of directors has authorized the repurchase of up to 2 million shares of the company's outstanding common stock. The company expects to purchase shares under the new program from time to time in the open market or in privately negotiated transactions.
On practically unchanged consolidated net sales of $8.054 billion, up from $8.052 billion in 1997, HOLDERBANK reported a group operating profit of $1.120 billion, up from $1.025 billion in 1997, and a consolidated net income of $487 million, up from $442 million in 1997. This overall robust perfor mance reflects the good results posted by a number of group companies in Europe, as well as North and Latin America.
NEWSMAKERS BARRIE COOK, a Cement Americas correspondent, was appointed chairman of the recently established Hong Kong Materials Association. Members of the association preside over 3,000 employees in Hong Kong.
The Portland Cement Association of Skokie, Ill. named JAMES F. RAPPEL to the position of vice president-finance and administration. Rappel comes to PCA from the American Medical Association, where he held a series of senior management positions.
W.S. Tyler, a manufacturer of particle analysis and screening products, hired DAVID CISZCZON as Tyrethan product manager. Ciszczon will be responsible for sales and services of W.S. Tyler's Tyrethan screen and lIning systems.
Ingersoll-Rand Co. named LAWRENCE SILBER vice president-construction and mining group sales for the United States and Canada. Silber is a 20-year veteran of Ingersoll-Rand.
Lafarge announces the addition of RICHARD F. BOYER as environmental and community relations manager of its Whitehall Township cement plant located in Pennsylvania.
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© 2008 Penton Media Inc.
