Cement News tagged under: Corporate
TPI founder Prachai dismissed from board, Thailand26 May 2006, Published under Cement NewsPrachai Leophairatana remains undecided over whether to continue his fight to regain control of Thai Petrochemical Industry or to enter politics. On Monday, TPI directors, chaired by Gen Mongkol Ampornpisit, dismissed Mr Prachai as an executive and director. The board also agreed to cancel Mr Prachai’s personal guarantees against TPI’s debt, given that his shareholding now stands at just 4.25%. The meeting was attended by 14 directors on the 25-member board. Mr Prachai May 23 said he was ... |
Lafarge aims for over five per cent underlying sales rise25 May 2006, Published under Cement NewsLafarge is aiming for underlying sales growth of over five per cent per year but it gave no period for the forecast in slides posted on its website ahead of an annual shareholder meeting on Wednesday. The world’s biggest cement maker also said in the slides that it planned to generate EUR1bn ($1.28bn) in sales from new products by 2008 and targets an annual rise of 8 percent on average in its earnings per share. Meanwhile, chief executive Bruno Lafont, declined to rule out an eventual... |
Holcim places 99.9 per cent of new shares24 May 2006, Published under Cement NewsHolcim has sold 99.9 per cent of the new shares issued under its latest SFr1.7bn rights issue, the Swiss cement maker’s UBS Investment bank announced. In total, 21.055m shares were issued and trading in the new shares starts today, the bank said. Settlement of the new shares is due on May 30, it added. |
Lehman Brothers becomes second largest shareholder in Italcementi24 May 2006, Published under Cement NewsThrough its International Europe division, investment bank Lehman Brothers now owns 2.35 per cent of Italcementi, making it the second largest shareholder in the Italian cement and concrete company. The information, released by stock market regulator Consob, reveals that the transaction took place on May 11. Italcementi’s leading shareholder is the Pesenti family’s financial holding company, Efiparind. |
Egyptian Ameriya Cement net profit up24 May 2006, Published under Cement NewsEgyptian company Ameriya Cement almost doubled its consolidated net profit to 74.1 mln Egyptian pounds (US$12.8m) in the first quarter of 2006, compared to 40 mln pounds (US$6.9m) in the year-ago period, the Cairo and Alexandria Stock Exchanges (CASE) said on May 23, 2006. Non-consolidated net profit increased even more to 33.3 mln pounds (US$5.8m) from 8.2 mln pounds (US$1.4m). |
Frere raises ’friendly’ stake in Lafarge24 May 2006, Published under Cement NewsLafarge’s future was in further question last night after the investment group run byBelgian financier Albert Frere raised its holding in the France-based cement maker to 10 per cent. Groupe Bruxelles Lambert told the French market regulator it reserved the right for its stake to evolve, suggesting that GBL wants to take a larger interest in Lafarge. People close to the building materials group believe that GBL could increase its holding to as much as 15 per cent. Brussels-based GBL sai... |
Saudi YCC Q1 2006 net profit up23 May 2006, Published under Cement NewsSaudi cement producer Yamama Cement Company (YCC) posted a net profit of 158.7m Saudi riyals ($42.3m) for the first quarter of 2006, down from 102.8m riyals ($27.4 mln/21.5 mln euro) for the same period of 2005. Gross profit stood at 163m riyals ($43.5m) in 2005, up from 112.4m riyals ($30m) in 2004. YCC’s total assets stood at 2.87bn riyals ($765m) at end-March 2006, up from 2.063bn riyals ($550 mln/432 mln euro) a year ago. YCC posted a net profit of 500.9m riyals ($133.5m) for 2... |
ICI Bank buys 6% stake in Andhra Cement23 May 2006, Published under Cement NewsICICI Bank has finalised a deal with the GP Goenka group-promoted Andhra Cement (ACL) to pick up a 6% stake in the company for Rs 50 crore. The GP Goenka group is also investing another Rs 30 crore in the company as a part of ACL’s debt restructuring exercise. Earlier, JP Morgan was looking at picking up a 14.95% stake in ACL for a consideration of Rs 75 crore. However, it backed out from the deal in the final stage due to a difference of opinion with ACL management. "The board of director... |
Belgium’s GBL says has 10 per cent in Lafarge23 May 2006, Published under Cement NewsBelgian holding company Groupe Bruxelles Lambert (GBL) now holds over 10 per cent of Lafarge , according to a statement from Euronext Brussels on Monday. GBL, owned by Belgian billionaire Albert Frere, previously had an 8.1 percent holding in the world’s largest cement producer. It reaffirmed it could make further changes in its holding. "In its statement of intent, GBL mentions that it reserves the right to have its shareholding evolve," said the statement. GBL said it was not s... |
Shareholders urged to back buyout of Chinea Resources Cement23 May 2006, Published under Cement NewsChina Resources (Holdings) took a step closer to privatising its locally listed cement subsidiary when an independent financial adviser hired by the company recommended shareholders accept the buyout offer. Investment banking firm Somerley described the proposed terms for CR Cement as fair and reasonable, and recommended the board advise shareholders to accept privatization. Last month, CR Cement’s controlling shareholder, CRH, unveiled a HK$428 million offer to privatize the subsidi... |