Cement News tagged: Corporate
JP Morgan may pick up 25% in Binani Cement
An equity fund controlled by JP Morgan Chase is likely to pick up 25 per cent stake in Binani Cement for around Rs 150 crore. JP Morgan’s restructuring fund, it is learnt, will invest in the cem
Italy Mediobanca cuts stake in Ciments Francais to 4.98%
Italian investment bank Mediobanca reduced its stake in French cement maker Ciments Francais SA, a subsidiary of Italian cement group Italcementi, to 4.98%. Mediobanca now has 2.93% of voting rights i
New State Cement’s chief appointed
The ministry of industries and production has appointed MP Gangwani as chairman State Cement Corporation of Pakistan, an official announcement said
SCC expects more growth but margins down
Even though Siam Cement (SCC) expected cement growth in 2H05 to be soft at 6-8%, down from 14% growth during 1H05, the company believes cement demand in the next five years will continue to grow at le
Saudi Yamama Cement H1 2005 net profit down
Saudi cement producer Yamama Cement Company (YCC) posted a net profit of 206.9 mln Saudi riyals (US$55.2m) for the first half of 2005, down 40.3 per cent year-on-
Minority shareholders of Chakwal complain
We would like to draw your attention towards the acquisition of over 51 per cent stake in Chakwal Cement company, Pakistan in November 2004 by OCI Cement Group (ORASCOM). The group finalised the negot
Heard on Johannesburg radio
South African cement sales rose by 11.1 per cent year on year in July 2005 - for the third consecutive month it was over a million tons, I think it was 1.016-million. That obviously bodes well for com
IMF team briefed on privatisation progress
An IMF mission led by Mohsin S Khan, Director, Middle East and Central Asia Department, held just a meeting with Dr Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment, Pakistan. Hafe
Cemex rating raised – Moody
Cemex SA, had its debt rating raised one level to investment grade by Moody’s Investors Service less than six months after the company made its largest acquisition ever. Moody’s raised Cem
Sinai Cement almost doubles H1 net profit
Egypt’s Sinai Cement almost doubled net profits for the first six months of 2005 to 65.5 million Egyptian pounds (US$11.4m), the stock exchange said in a statement on Monday.
MoF to guarantee French loans
The Vietnameses Ministry of Finance has been approved by the Prime Minister to sign a guarantee letter with France’s BNP Paribas Bank for a loan to finance the Thai Nguyen
Binani Industries to divest cement stake
Binani Cement, a wholly owned subsidiary of Binani Industries, India, is likely to place around 25 per cent equity stake with private equity investors. "A few investors have shown interest in picking
TPI cancels plan to sell TPIPL shares
TPI informed the Thai Stock Exchange that it had cancelled the plan to sell its 31 per cent stake in TPI Polene (TPIPL) via e-auction due to the lack of bidders for the shares. TPI’s Plan Admini
Lafarge to double spending in China
Lafarge, the world’s biggest cement producer, is planning to double its investments in China to about US$800m over the "next couple of years", reflecting its determination to participate in fort
Probe launched over Boston’s "Big Dig"
US prosecutors have launched a probe into a firm accused of using sub-standard concrete in one of the biggest public works project in US history, Boston’s $14.6 billion "Big Dig," which has been
Interest in Javedan Cement
The Pakistan Privatisation Commission has received 43 expressions of interest (EoIs) for 96.34 percent shares of Javedan Cement Limited (JCL) on ’as is where is’ basis. These include Jave