Cement News tagged under: Corporate
JK Cement in talks with Holcim31 August 2010, Published under Cement NewsExecutives from India’s J.K. Cement Ltd and Holcim Ltd. met in August for discussions, and the topics covered included acquisitions and joint ventures, DNA Money reported Tuesday, citing people familiar with the matter. The newspaper didn’t give more details about the talks, but said that JK Cement assistant vice chairman Prashant Sheth denied any such development. The Singhania family owns 65.29% of JK Cement, while the rest is held by financial institutions and the public. |
Saudi Al Jouf Cement gets US$48.1m second tranche26 August 2010, Published under Cement NewsSaudi cement producer and trader Al Jouf Cement received on Tuesday the second tranche, worth SAR180.4m (USD 48.1m/EUR 37.8m), of its loan from state-owned Saudi Industrial Development Fund (SIDF), the company said in a bourse filing. The loan, worth a total SAR483.5m, was arranged last year. It is to be repaid through 14 installments over a period of eight years. In July 2010, Al Jouf Cement offered 27.9 million new shares and 37.1 million existing shares at SAR 10 each, in an IPO aimed ... |
Mangalam merger approved, India25 August 2010, Published under Cement NewsBK Birla Group company Mangalam Cement on Tuesday said its board has given in-principle nod for the merger of sister firm Mangalam Timber Products with itself. In a statement to the Bombay Stock Exchange, Mangalam Cement also informed that the board has also gave its go ahead for the appointment of the consultancy firm Ernst and Young to give "their expert opinion on the valuation as well as recommending the fair exchange ratio". Group patriarch BK Birla had last month said though he w... |
China Resources Cement to use internal capital for expansion24 August 2010, Published under Cement NewsChina Resources Cement said there is no need to raise capital through equity financing in the next one or two years despite planning to spend around HK$8bn to double production capacity by 2012. "The company will use internal resources and bank loans to support its capacity expansion plan," said chief financial officer Robert Lau Chung-kwok. |
Issue of more shares: Maple Leaf Cement Factory granted permission24 August 2010, Published under Cement NewsThe Securities and Exchange Commission of Pakistan (SECP) has granted permission to the Maple Leaf Cement Factory Limited for issue of further 153,846,153 ordinary shares of Rs 10 each at Rs 6.50 per share, ie at a discount of Rs 3.50 per share otherwise than through a right issue up to the extend of one billion rupees to Kohinoor Textile Mills Limited. Further, Maple Leaf Cement Factory has also received firm intention of the Kohinoor Textile Mills to acquire the voting share of Rs 10 each... |
Egypt’s South Valley Cement H1 net profit falls24 August 2010, Published under Cement NewsEgyptian group South Valley Cement posted a 13 per cent fall in net profit to E£78.4m for the first half of 2010, the stock exchange said on Monday. The firm made E£90.1m in the same period a year earlier, the bourse said, without giving details. |
Lafarge Malayan Cement to sell bonds24 August 2010, Published under Cement NewsMalaysia’s largest cement maker will sell as much as MYR350m of Islamic bonds under a seven-year program to fund expansion, the company said March 26. The debt is rated AA2 by RAM Rating Services Bhd., its third-highest ranking for long-term corporate debt instruments. |
Losses hang over Union Cement meeting, UAE24 August 2010, Published under Cement NewsUnion Cement Company is to hold its board of directors meeting tomorrow to finalise a periodic financial statement and discuss the company’s direction after seeing some of the heaviest losses in the industry. The Ras Al Khaimah-based manufacturer, which produces ordinary Portland as well as high sulphur-resistant and oil well cement, has seen gross profits slashed by more than 91%, down to AED10.3m from the AED122.4m from the first six months of last year. Revenues declined by almost a qua... |
BUA group gets CIC excellence award23 August 2010, Published under Cement NewsChartered Institute for Commerce and Industry Nigeria, CIC, has awarded BUA Group an Award of Excellence for the year 2010. Presenting the award to the Group’s Executive Director, Alhaji Kabiru Rabiu, at its 31st National Commercial Administrators Conference which took place at Kaduna, Chairman of the occasion, and Special Adviser on Statistics and strategic Planning, Office of the Rivers State Governor, Mr Okerie Oke, said BUA was given the award in recognition of its outstanding achieve... |
India: Saurashtra Cement reports June quarter loss23 August 2010, Published under Cement NewsSaurashtra Cement swung to loss for the quarter ended June 2010. During the quarter, the company reported loss of INR 21.90m compared with a profit of INR 174.77m in the same quarter previous year. The company’s net sales for the quarter declined 28.97 per cent to INR1016m, while total income for the quarter fell 28.97 per cent to INR 1016.49m, when compared with the prior year period. |