Cement News tagged under: Corporate
Indonesia Indocement Q1 net profit up02 May 2006, Published under Cement NewsIndonesia’s second-largest cement maker, PT Indocement Tunggal Prakarsa Tbk , posted a 10.1 per cent increase in first-quarter net profit, thanks to strong cement sales and foreign exchange gains. However, higher costs pushed Indocement’s income from operations down by 0.42 per cent to 270.4 billion rupiah (US$30.87m) and cut operating margins to 18.9 per cent from 22.6 per cent, the company said in a statement late on Monday. Operating expenses have been soaring for many businesses in the ... |
Jaypee to acquire Gujarat Anjan Cement02 May 2006, Published under Cement NewsIn yet another consolidation move in the cement industry, the Jaypee group has struck a deal to acquire Gujarat Anjan Cement, which is implementing a 1.2Mt cement plant in Kutch, Gujarat. The financial details of the acquisition were not known. Gujarat Anjan is promoted by the Ahmedabad-based Sumaru group. Sources said the Gaurs are acquiring the Gujarat company through Jaypee Cement, a Jaypee group company. Part proceeds from the group’s recently-floated E160m FCCB (foreign currency con... |
Early deadline for Uniland offers02 May 2006, Published under Cement NewsThe Spanish shareholders of Uniland, the Spanish cement firm, have set May 3 as the deadline for indicative offers for their 74 per cent stake. After the deadline has passed, investment bank Lazard will cut the number of bidders to less than five. The tender could value the entire company at Euro 1.5bn. Potential buyers include cement groups such as Portland Valderrivas of Spain (a subsidiary of the FCC group), Cemex and Cimpor of Portugal, and venture capital firms. The winner will be cho... |
Cemex heading for India?02 May 2006, Published under Cement NewsCemex is apparently looking at India as one of the opportunity markets for future growth. As and when the move materialises, the world’s top five global cement manufacturers will be present in the burgeoning Indian market. In a forward-looking statement after announcing the company’s results last weekend, the chairman of the Mexican company, Lorenzo Zambrano, said that along with China, Russia and Brazil, India had a "great future potential " because of its enormous size. He added, "We have ... |
Cimpor may buy companies in China, India and Latin America02 May 2006, Published under Cement NewsThe growth strategy of Portuguese cement company Cimentos de Portugal (Cimpor) includes making acquisitions of controlling stakes in companies located in China, India and Latin America, the company’s corporate center director, João Salgado said in Lisbon Thursday. The company’s strategy is to buy 6Mt of production capacity every five years, Salgado told journalists after the II Mergers and Acquisitions Conference organized by Portuguese financial newspaper, Diário Económico. Salgado said tha... |
Prosperity announces proposed share offer02 May 2006, Published under Cement NewsProsperity Minerals today announces a proposed share offer by way of a placing of ordinary shares with institutional investors and its intention to seek admission to trading on AIM, a market operated by the London Stock Exchange plc, of its issued and soon to be issued ordinary shares. Evolution Securities Limited is acting as nominated adviser and broker to Prosperity Minerals. The Prosperity Group owns Yingde Dragon Mountain, which owns a large modern suspension preheater dry process ce... |
HeidelbergCement’s 1Q06 to exceed results28 April 2006, Published under Cement NewsGerman cement maker HeidelbergCement AG said Thursday its key results for the first quarter 2006 significantly exceed previous year’s figures. The improved figures can be explained amongt others with favorable market conditions in North America, an optimized cost level following first results of the implementation of the "win" project and positive growth in many markets. We therefore expect a significant increase in turnover and results for the entire year. The interim report for th... |
India’s Sanghi Industries to raise INR15bn, India28 April 2006, Published under Cement NewsSanghi Industries Ltd. said on Thursday its board had approved raising up to IDR15bn ($333m). The issue could be through issue of shares, overseas depositary receipts or convertible bonds, the company said. |
Steppe Cement Chairman to stand down28 April 2006, Published under Cement NewsSteppe Cement said Wednesday its Chairman, Azmi Wan Hamzah, is to stand down from the board following the Company’s Annual General Meeting to be held on 4 May 2006. John Richardson (an existing non executive director) will assume the role of Chairman and the Company is considering appointing a new non-executive director to the board experienced in the cement industry at a senior level and also in Kazakhstan. The Company expects to advise the market of this appointment in advance of the Ann... |
Gulf Cement IPO raises US$1.6bn27 April 2006, Published under Cement NewsThe Gulf Cement Company’s IPO has raised more than $1.63bn and was about nine times oversubscribed. Applicants will receive a minimum 250 shares plus 2.78% of the remaining shares for which they applied, according to statement by manager Commercialbank. |