Cement News tagged under: Corporate
MoF to guarantee French loans15 August 2005, Published under Cement NewsThe Vietnameses Ministry of Finance has been approved by the Prime Minister to sign a guarantee letter with France’s BNP Paribas Bank for a loan to finance the Thai Nguyen Cement Plant. Accordingly the loan, whose value has not been revealed, will be guaranteed by the Government of Vietnam. The under-construction Thai Nguyen Cement Plant needs a total investment of VND2.8 trillion (US$176m). It has a designed capacity of 1.5Mta and is slated for completion by 2007. The project has recentl... |
Binani Industries to divest cement stake15 August 2005, Published under Cement NewsBinani Cement, a wholly owned subsidiary of Binani Industries, India, is likely to place around 25 per cent equity stake with private equity investors. "A few investors have shown interest in picking up stake in Binani Cement," said Sunder Rajan, Executive Director, Binani Industries. He said the placement of the shares would be to fund the expansion of cement capacity and re-pay part of the debt. The company is increasing its cement capacity from 2Mta to 4Mta. However, he declined to comment... |
TPI cancels plan to sell TPIPL shares15 August 2005, Published under Cement NewsTPI informed the Thai Stock Exchange that it had cancelled the plan to sell its 31 per cent stake in TPI Polene (TPIPL) via e-auction due to the lack of bidders for the shares. TPI’s Plan Administrator is now considering whether to sell or transfer the shares to creditors as repayment for the US$250m debt, as stipulated in the TPI Rehabilitation Plan. But the unattractive conditions attached i.e. Bt1bn deposit requirement, no due diligence can be done prior to the sale, no guarantee of manage... |
Lafarge to double spending in China12 August 2005, Published under Cement NewsLafarge, the world’s biggest cement producer, is planning to double its investments in China to about US$800m over the "next couple of years", reflecting its determination to participate in forthcoming privatisations and infrastructure projects. The company, which yesterday announced a joint venture deal with Shui On Construction and Materials (Socam), its Hong Kong-listed rival, is hoping to increase its share of China’s fragmented cement market, which has been hit by government-led attemp... |
Probe launched over Boston’s "Big Dig"12 August 2005, Published under Cement NewsUS prosecutors have launched a probe into a firm accused of using sub-standard concrete in one of the biggest public works project in US history, Boston’s $14.6 billion "Big Dig," which has been plagued by leaks and delays. Two months ago, state police raided three offices of Aggregate Industries in Massachusetts and found fraudulent paperwork used to disguise shipments of poor quality concrete, Massachusetts Attorney General Tom Reilly said on Thursday. "We found a scheme that reissued ... |
Interest in Javedan Cement11 August 2005, Published under Cement NewsThe Pakistan Privatisation Commission has received 43 expressions of interest (EoIs) for 96.34 percent shares of Javedan Cement Limited (JCL) on ’as is where is’ basis. These include Javed Kiyani (Director Chanar Sugar Mills), AKD Capital Limited, Al-Abbas Group of Companies, Al-Hamza Ship Breaking Company, Al-Karam Textile Mills(Pvt) Limited, Alloy Steel Company, Al-Munaf Steel Corporation, Alpha Gamma Technologies Inc, Amer Mahmood (Senior Manager Finance), Aqeel Karim Dhedhi Securities, A... |
Portugal Cimpor H1 2005 profit seen as lower11 August 2005, Published under Cement NewsPortuguese cement producer Cimpor - Cimentos de Portugal is expected to post a 22.8 per cent year-on-year decline in its first half 2005 net profit to a total Euro 98.6m according to projections from local investment bank Millennium bcp investimento (MBCPI) reported on August 10, 2005. According to MBCPI, Cimpor operating revenue must have reached Euro 708.5m up 4.4 per cent, and earnings before interest, taxes, depreciation, amortization and pension plan income or expense (EBITDAP) must hav... |
Saudi Qassim Cement H1 figures11 August 2005, Published under Cement NewsSaudi cement producer Qassim Cement Company (QCC) posted a net profit of 131.4 mln Saudi riyals (US$35m) for the first half of 2005, up 4.4 per cent year-on-year. Gross profit grew 8.5 per cent to 61.7 mln riyals (US$16.5m) for January to June 2005. The company registered an 8.4 per cent rise in total operating expenses to 6.0 mln riyals (US$1.6m) in the first six months of 2005. QCC’s total assets stood at 1.422 bln riyals (US$379m) at end-June 2005, up 33.8 per cent. |
Creditors to swap $250m debt for TPIPL stake11 August 2005, Published under Cement NewsThai Petrochemical Industry Plc (TPI) creditors will acquire 30.8 per cent of TPI Polene Plc in exchange for US$250 million (Bt10.3 billion) in debts, after an auction was cancelled yesterday due to a lack of bidders. The stake in TPI Polene - 249 million shares - will be acquired for $1 per share. Under TPI’s debt-restructuring plan, the court-appointed administrator was empowered to transfer the 30.8-per-cent stake to creditors if it could not be sold to another party by the third quar... |
HeidelbergCement improves in North America and northern Europe10 August 2005, Published under Cement NewsFirst half turnover rose by 7.9%, or by 7.0% on a comparative basis, to EUR 3,497.6m while the EBITDA advanced by 10.2% to EUR 534.3m. Cement and clinker shipments, which were down by 2.2% in the first quarter, advanced by 2.7% to 31.54Mt, as lower deliveries in Germany and western Europe were more than offset by higher volumes elsewhere. With only modest increases in depreciation and interest payments and a higher contribution from associates, notably a 40% rise from Vicat, the running pro... |