Cement News tagged under: Corporate
Cement firm to triple capital14 December 2005, Published under Cement NewsSaudi cement firm Yamamah plans to triple its paid up capital to SR1.35 billion (US$360m) and offer investors two free shares for each existing one, it said The announcement pushed the stock up by the daily maximum of 10 per cent to an all-time high of SR1,804 at the close of morning trade, against a 0.99 per cent rise in the all-share index. The capital hike and share issue will be funded by transferring cash from reserves estimated at more than SR1.0 billion, Yamamah said in a statement. Ya... |
Mandiri to approve loan for Gresik project13 December 2005, Published under Cement NewsIndonesian state-owned Bank Mandiri said it will provide fund needed to finance the construction of a new cement factory of state-owned cement maker PT Semen Gresik. Semen Gresik plans to build a new cement factory with an annual capacity of 2.5Mt to cost up to Rp3.6 trillion (US$360m). Semen Gresik will ask for approval from the government to build the factory starting next year to be completed in four years. |
Foreign ownership in Sumitomo Osaka increases13 December 2005, Published under Cement NewsOverseas investors increased their stake in Sumitomo Osaka Cement Co to 33.7 per cent as of Sept. 30, up 4.7 percentage points from March 31, marking the first time the foreign stake in the company has surpassed 30 per cent. The cement manufacturer’s shares has garnered attention largely due to forecasts that domestic demand for cement will rise in fiscal 2005 for the first time in five years. This is a result of emergency recovery works in the Hokuriku region of northwestern Japan and the s... |
Tong Yang: all change on golf course13 December 2005, Published under Cement NewsThe question of who will take over Tong Yang Group, one of Korea’s largest conglomerates, finally has an answer: the owner’s son. The group’s current chairman, Hyun Jae-hyun, appears ready to hand enough shares over to his son to make the younger Hyun the group’s de facto owner. The move would end speculation about the group’s future and help it achieve stability. Hyun Seung-dam owns a 20 per cent stake in Tong Yang Leisure, which has become the major shareholder in two affiliates: cemen... |
JK Cement promoter to offload large stake13 December 2005, Published under Cement NewsYadhupati Singhania, owner and Managing Director of JK Cement Ltd, will be off-loading 26 per cent of his stake for raising around Rs 250-300 crore, (around US$65m) early next year. JK Cement, which is popular for its JK White Cement, will utilise the funds for upgrading its white and grey cement capacities. It will also be setting up new power generating facilities. The company was earlier a division of JK Synthetics Ltd. It has three factories and all are located in Rajasthan. While its... |
CRH eyes Belgian buildings accessories business12 December 2005, Published under Cement NewsCRH is in final negotiations to acquire the family controlled Winsol, the Belgian market leader in PVC and aluminium windows and doors, roller blinds and awnings, both domestic and commercial. The company, which started as a joinery business in 1876, also makes other products such as garage doors and internal partitioning. An agreement has already been reached with CRH on the price and the deal is expected to be completed within the next two months. Winsol has four assembly plants in Belgiu... |
Iran and Venezuela sign contracts12 December 2005, Published under Cement NewsIran and Venezuela have signed a contract worth US$850m and a memorandum of understanding worth between US$5-7bn for exchange of industrial products and technical and engineering services. Minister of Industries and Mines Ali-Reza Tahmasebi told reporters that the contracts were signed during his recent visit to Venezuela and following talks with Venezuelan industrial and economic officials. Tahmasebi said Iranian and Venezuelan officials had signed 21 cooperation contracts in the course of ... |
Saudi construction data09 December 2005, Published under Cement NewsAccording to local reports, official statistics issued by the Saudi Ministry of Commerce and Industry show that the total number of the operating building materials manufacturing factories in the Kingdom amounted to 586 factories last year. The total investments in these plants hit SR 29bn. The Saudi Ministry of Commerce and Industry announced that 27 cement manufacturing factories were recently licensed in the Kingdom. These plants are planned to produce 45Mt of cement. The ministry esti... |
Japanese producers to boost profits09 December 2005, Published under Cement NewsTaiheiyo Cement Corp and Sumitomo Osaka Cement Co are both expected to raise group operating profit by more than 10 per cent for the year through March next year. The forecast reflects the newly streamlined operations at the industry leaders, such as the use of waste materials for fuel and more efficient product distribution. Taiheiyo will likely record an 18 per cent gain in operating profit to 57 billion yen on a one per cent increase in sales to 880 billion yen. Brisk demand in the ... |
Robust PPC wins Zimbabwe award09 December 2005, Published under Cement NewsPretoria Portland Cement Company Limited (PPC) took the pole position in Construction & Property Sector Category of the 2005 Fingaz/Premier Banking Corporation 2005 Top Companies Awards presented in Harare last night. Zimbabwe Stock Exchange (ZSE)-listed companies that were grouped together in the Construction & Property Sector Category included fellow cement manufacturer Circle Cement, Dawn Properties, Mashonaland Holdings, M & R, PGI, Radar, Turnall and brick maker Willdale. PPC ... |