Cement News tagged under: Corporate
China stock slump26 December 2005, Published under Cement NewsChina stock slump As a prolonged slump in the China stock market drags on and the US dollar stays on a longer-than-expected uptrend, many Chinese investors are becoming frustrated with what they see as a dearth of investment opportunities for the coming year. But a closer look at the economic picture should yield some optimism, although it appears unlikely that a bull run will kick in any time soon to fatten investors pockets. In particular, analysts say, the government’s commitm... |
FCC Aims to double revenues by 200826 December 2005, Published under Cement NewsFCC Aims to double revenues by 2008 Spanish construction group Fomento de Construcciones y Contratas SA (FC) said Thursday it plans to double revenue and earnings by 200, noting in a presentation that it wants to double revenues by Euro 10-1bn by April 2008. Earnings before interest, taxes, depreciation and amortization, or EBITDA, should rise to Euro1.4-1.bn. It also reiterated that it plans to invest Euro3bn in acquisitions. FCC wants to increase its international operations t... |
Rinker Group gets A3 rating from Moody’s26 December 2005, Published under Cement NewsRinker Group gets A3 rating from Moody’s Moody’s Investors Service has today affirmed the A3 senior unsecured rating of Rinker Group Limite. Moody’s said its rating affirmation reflects the ongoing strength in the company’s underlying operations and incorporates the potential for a reasonable level of acquisitions or capital returns. Moody’s anticipates that any acquisition or capital return would be structured in such a way as to retain the current A3 rating. The rating outlook is s... |
Hanoi stock exchange adds three firms to listing26 December 2005, Published under Cement NewsHanoi stock exchange adds three firms to listing An additional three companies will be listed on the Hanoi Securities Trading Centre, bringing the total number of listed companies in December to nine with registered shares worth nearly VND1.5 trillion (US$95.1m).The three companies include Doan Xa port company, a foreign-invested labour export company and But Son cement company. |
Cemex, Lafarge terminate Iberian joint ventures23 December 2005, Published under Cement NewsCemex, Lafarge terminate Iberian joint ventures Cemex SA said Thursday it has unwound its joint ventures with France ’s Lafarge SA, as agreed earlier this year. In a press release, Cemex said it has has dissolved the 50-50 partnership in Readymix Asland in Spain and Betecna Betao Pronto in Portugal . Lafarge now has 100 per cent of the two concerns, while Cemex received EUR50m in cash, 29 concrete plants and five aggregates quarries in Spain . A sixth quarry is subject to regulato... |
IFC buys shares in China’s Anhui Conch23 December 2005, Published under Cement NewsIFC buys shares in China’s Anhui Conch The World Bank’s investment arm, the International Finance Corp, acquired 48 million shares in Anhui Conch Cement Co Ltd, China ’s largest cement maker, the China Daily reported. The report did not say what stake size the purchase is equivalent to. Morgan Stanley Private Equity Asia will also acquire 132 million shares in Anhui Conch, which is majority-owned by the Anhui provincial government, the report quoted the IFC as saying. A full report on... |
Partners to inject more cash into China JV22 December 2005, Published under Cement NewsShui On Construction and Materials Ltd said it and Lafarge SA of France have injected an aggregate amount of US$44.4m into their joint venture company, which is engaged in cement operations in China . Shui On Construction company secretary Janice Tam said in a statement the additional capital injection was made in proportion to Shui On’s 45 per cent stake and Lafarge’s 55 per cent interest in the joint venture. The fresh capital will be used to fund acquisition by the joint venture compan... |
Heidelberg Cement’s Bosnian unit to invest21 December 2005, Published under Cement NewsTvornica Cementa Kakanj (TCK), a Bosnian cement plant owned by Germany’s Heidelberg Cement, said on Tuesday it planned to invest Euro 8.3m next year, mostly in modernising its concrete production facilities. "Part of the investment will be used for the strengthening of our transport facilities, improving temperature measurement in the furnaces and upgrading our cement factories," TCK said in a statement. The company has invested Euro 5.0m in the first 11 months of this year. Most of the ... |
Southern Province elects new Board21 December 2005, Published under Cement NewsSaudi cement producer Southern Province Cement (SPC) elected a new board of directors at a general shareholders’ meeting on December 7, 2005. The board has a three-year term starting from January 1, 2006. Among the newly elected board members are Khaled bin Turki al-Turki, Abdullah Abdul Rahman, Mansour al-Mayman, Hamad al-Baazi, and Amir Saeed Barqan. |
Warburg sells six per cent stake in Gujarat Ambuja20 December 2005, Published under Cement NewsWarburg Pincus, through its investment units, sold a near six per cent stake in Gujarat Ambuja Cement Ltd. The deal was worth around INR6.5bn. The shares sold by the private equity fund were separately bought by T Rowe Price International and Capital Income Builder International. |