Cement News tagged under: Corporate
Sabanci takes the Standart prize13 October 2005, Published under Cement NewsSabanci Holding was unable to deter Cimentas, a subsidiary to the Italian Cementir Group, from taking over control of one of the cement factories that the Turkish Savings and Deposit Insurance Fund (TMSF) had been financing. However, in its second attempt, Sabanci Holding managed to get revenge for their earlier failure. In the tender for Standart Cement, Eskisehir, one of the nine cement factories sequestrated in exchange for debts of the Uzan Group, Cimsa made the highest offer of $175.5m.... |
Portugal BPI Ups Stake in Semapa13 October 2005, Published under Cement NewsPortuguese investment bank Banco Portugues de Investimento (BPI) increased its participation in local cement company Semapa to 6.7 per cent of the share capital, it was reported on October 12, 2005. The new stake accounts for 6.86 per cent of the voting rights in Semapa. BPI’s pension fund manager unit BPI Pensoes - Sociedade Gestora de Fundos de Pensoes SA acquired on October 6, 2005 a total 1,043,301 Semapa shares for the funds it manages. No financial details were available. The sa... |
Wahana Tata Ready to Pay Lafarge’s Claim13 October 2005, Published under Cement NewsPT Asuransi Wahana Tata promised to pay the insurance claim of PT Semen Andalas Indonesia following the conclusion of loss assessment by independent loss adjuster. Robert Jeremia, the President Director of PT Wahana Tata, said that until today the company was still waiting for the loss assessment on the cement manufacturing plant of Lafarge Group severely hit by tsunami disaster at the end of last year. "The claim of Lafarge is still waiting for the assessment of loss adjuster. But th... |
IBT Securities buys Taiwan Cement shares13 October 2005, Published under Cement NewsIBT Securities was a net buyer of 2.29 mln shares in Taiwan Cement Corp between Sept 19 and Oct 7, the Economic Daily News reported, without citing sources. The proprietary trading department of Taiwan-based IBT Securities conducted the purchases of Taiwan Cement stock over the past three weeks. Taiwan Cement will next appoint board members at next year’s annual meeting, it added. |
Turkey Sells Bartin for $48m13 October 2005, Published under Cement NewsTurkey’s Savings Deposits Insurance Fund, or TMSF, sold the Bartin Cement Factory for $48m to domestic cement producer Cimko Cim. ve Beton San. Tic. AS, or Cimko the Ihlas News Agency, or IHA, reported Wednesday. TMSF’s reserve price for Bartin Cement was $22m. The auction is part of the sale of the seized Uzan Group’s cement assets. TMSF will sell the remaining six factories in separate auctions until Oct. 20. |
Dalmia Cement to hive off sugar division13 October 2005, Published under Cement NewsDalmia Cement (Bharat) Ltd, which has interests in cement and sugar, plans to restructure itself into companies that deal with these two businesses separately. It has floated a subsidiary, Ramnagar Chini Mills Ltd, to undertake sugar manufacturing activities. The company now plans to hive off its sugar division to this new company, for which it will seek its shareholders approval through a postal ballot. According to Dalmia Cement, it is in the process of examining various options to conv... |
Attock Group donates Rs 45 million12 October 2005, Published under Cement NewsThe Attock Group of Companies has announced a contribution of Rs 45 million towards the President’s Relief Fund for the earthquake victims. The employees of the group, which includes Pakistan Oilfields Limited, Attock Refinery Limited, National Refinery Limited, Attock Petroleum Ltd and Attock Cement Pakistan Limited have also decided to donate two-day salary to this noble cause. In addition the Attock Oil Company Limited and Attock Refinery Limited have actively undertaken relief activitie... |
Thai TPI Polene Q3 profit jumps on debt gain12 October 2005, Published under Cement NewsTPI Polene PCL , Thailand’s third-largest cement maker, said on Wednesday its third-quarter earnings surged, due mainly to gains from restructuring the company’s hefty debts. TPIP reported a net profit of 3.2 billion baht ($78 million), or 4.10 baht per share, versus a 141 million profit in the same period year ago. The earnings were in line with analyst expectations of about 3.25 billion baht. Excluding the 2.6 billion baht gain from debt restructuring, the company posted an operating pr... |
Sabanci Group offers $175.5m12 October 2005, Published under Cement NewsThe Turkish Savings and Deposit Insurance Fund (TMSF) held a tender for the Standart Cement plant, previously seized from the Uzan family. Some 22 companies submitted their bids for the privatization of the Standart cement factory, which was put up for sale at a price tag of $62m. Sabancı Group, Turkey’s second largest, made the highest bid in the auction to buy the Standart Cement factory, which is located in the province of Eskisehir. |
Italcementi eyeing acquisitions in India, Thailand12 October 2005, Published under Cement NewsItalcementi SpA is eyeing acquisition opportunities in India and Thailand, said Giorgio Ghinaglia, managing director at the cement maker’s Egyptian unit Suez Cement. "We want to grow in India and Thailand, also through acquisitions," he was quoted as saying by daily Finanza & Mercati. On Egypt, Ghinaglia said that the operations in the country will contribute by US$450-500m or by 8-10 per cent to the group’s sales in 2006. |