Cement News tagged under: Corporate
India Gujarat Ambuja to sign loan25 August 2005, Published under Cement NewsOne of India’s leading cement makers Gujarat Ambuja Cements Ltd said it will next week sign a three-year loan for $100m to partly refinance an earlier loan. "The new loan will partly replace our earlier loan of $80m and also meet our normal capital expenditure," said Jayesh Doshi, vice president of treasury of Gujarat Ambuja. He said the bank had just received the loan details from the group of six banks arranging it. "The loan is priced at six-month Libor (London interbank offered rate)... |
IFC to invest in cement works in Iraq25 August 2005, Published under Cement NewsInternational Finance Corporation is apparently considering the possibility to invest US$210.3m in the construction project of cement works in Iraq with a productive capacity of 2.9Mta. IFC also intends to participate in the capital of new company by way of investing US$8.3m. The first investment project in Iraq with participation of IFC was realized in finance sector in November 2004 when Corporation invested US$35m in the capital of Credit Bank of Iraq. |
Holcim H1 net seen up on acquisitions, prices23 August 2005, Published under Cement NewsHolcim , the world’s second biggest cement maker, is set to report higher first half sales and earnings on Thursday as recent acquisitions and price increases more than offset higher energy costs. Holcim has benefited from a pick-up in demand for its cement and concrete in North America and parts of Europe as building activity increases on the back of a global economic recovery. Meanwhile higher oil prices boosted the cement company’s energy and transport costs. Management has said energ... |
Andhra Cem in talks to place 15 per cent stake, India23 August 2005, Published under Cement NewsGouri Prasad Goenka is in advanced stage of discussions for a private placement of close to 15 per cent stake in Andhra Cements. Goenka confirmed that talks were on but said nothing was finalised yet. Andhra Cements has plants in Vijayawada and Vishakapatnam and markets its products under the trade name ’Durga’. During 1989-90, there was a sharp decline in clinker and cement production owing to erratic and inadequate supply of coal, paucity of working capital, continuous power cut. In ... |
Siam Cement names new president22 August 2005, Published under Cement NewsThe board of Siam Cement, Thailand’s largest industrial conglomerate, has, as expected, appointed Executive Vice President Kan Trakulhoon as its new president, replacing Chumpol NaLamlieng, who will retire. The appointment will take affect on Jan. 1, 2006. |
Holcim Cesko buy-out bid22 August 2005, Published under Cement NewsHolcim plans, which controls 96 per cent in its Czech unit Holcim Cesko, will launch a buyout bid for the remaining shares in the company, it was announced on August 16, 2005. Holcim will offer Holcim Cesko shareholders 2328 crowns ($100/80 euro) per share. Holcim Cesko’s extraordinary shareholders’ meeting will discuss the bid at the end of August, 2005. Holcim owns the Czech company through its German unit Breitenburger Auslandbeteiligungs GmbH. |
PCLA allocates profits to its investment fund22 August 2005, Published under Cement NewsShareholders of cement producer Povazska Cementaren, Ladce (PCLA) decided to allocate 89.4 per cent from its last year’s profit into its investment fund. From the total taxed profit that reached SKK177 million last year, this sum represents SKK158.3 million. The company will transfer SKK 17.7 million to its reserve fund and further SKK 1 million to its social fund. The annual general meeting of shareholders was held on June 28. During the whole of last year the company registered sales of its... |
Titan expected 1H rise19 August 2005, Published under Cement NewsGreece’s Titan Cement is expected to announce a rise in first half year EBITDA of 2.2%under IFRS next Friday on the back of growth from its US and Balkan operations, offsetting weak post-Olympic sales in Greece. EBITDA is seen rising to EUR147.4m from EUR144.2m same time last year, with forecasts ranging between EUR142.1-153.2m, according to three leading analysts. However, net profit is expected to edge lower to between EUR78.0-79m with forecasts ranging between EUR70.2-81.5m. Sales are... |
Merckle raises HeidelbergCement stake to 76%19 August 2005, Published under Cement NewsThe takeover vehicle of German billionaire Adolf Merckle, Spohn Cement, and its affiliates now control 76 per cent of HeidelbergCement after buying more of the cement maker’s shares from the market. Spohn said in a statement on Thursday it had bought 13.2 million shares at between EUR59.7 and 59.73 a share on August 17 on the stock market. Spohn and its affiliates already owned more than 71 per cent of HeidelbergCement shares following the conclusion of its 60-euro a share offer on August... |
Italcementi wins 98.5% acceptances in ASEC Cement bid19 August 2005, Published under Cement NewsItalcementi SpA’s takeover offer for ASEC Cement has won acceptances totaling 98.5% of the Egyptian company’s capital, a financial source said. The figures are preliminary, the source said, adding that final and official data are due next week. The bid, which closed yesterday, was carried out by Suez Cement Company, a 57%-owned unit of Italcementi’s overseas asset holding Ciments Francais SA. |