Cement News tagged under: Corporate
Votorantim plans more investment13 January 2005, Published under Cement NewsVotorantim Cimentos, intends to increase investments by 60 per cent to US$220m, planning to construct two new plants in Brazil and increase production in five plants from the North American subsidiary. Votorantim owns a 40 per cent market share in Brazil. US$140m of funding out of the company’s budget may be invested in the construction of plants in the Northeast and Center-West regions, increasing capacity by 2Mt until 2007 over 25Mt. Further US$80m will be injected in North American divis... |
Investor view on Mitsubishi13 January 2005, Published under Cement NewsMoody’s Investors Service has upgraded the senior unsecured long-term debt ratings of Mitsubishi Materials Corporation (Mitsubishi Materials). The rating outlook is stable. Mitsubishi Materials’ profitability has improved as a result of extensive operational rationalization over the past several years. The company clarified its focus on its four core businesses of copper, aluminum products, cement and fabricated metal components and tools. Moody’s expects that Mitsubishi Materials will ... |
Saudi Eastern Province Cement profit gains12 January 2005, Published under Cement NewsSaudi cement producer Eastern Province Cement Company (EPC) registered 7.0 per cent year-on-year increase in net profit to 277 mln Saudi riyals (US$73.9m) for 2004, the company’s board chairman, Abdullah Zamil, said. EPC’s net profit for 2003 stood at 257 mln riyals ($68.5m). The company paid a 35 pct cash dividend for 2003. EPC, based in Dammam, eastern Saudi Arabia, was established in 1982 as a joint stock company under the name of Saudi-Kuwaiti Cement Company. The company changed its nam... |
Eagle Materials completes purchase12 January 2005, Published under Cement NewsEagle Materials Inc announced today that it has completed the purchase of the remaining interest in Illinois Cement Company joint venture. The purchase price was $72m in cash for the 50 per cent joint venture interest. EXP funded this transaction primarily from borrowings under a new $350m senior credit facility led by JPMorgan. Illinois Cement Company was originally formed in 1972 and operates a cement plant in LaSalle, Illinois. Eagle Materials Inc. is a Dallas-based company that manufactu... |
Heidelbergcement intends to invest12 January 2005, Published under Cement NewsHeidelbergCement plans to invest Euro 20m to its Ukrainian business in 2005, according to IntelliNews. In particular, the modernisation of their Kryvyi Rih Cement and Dneprocement plants is planned. HeidelbergCement had sales of 1.75Mt of cement in 2004. Ukrainian business of HeidelbergCement consists of Kryvyi Rih Cement (with planned capacity of 1.15Mt of cement), Dneprocement (0.615Mt), and Kryvbass Cement, an exclusivetrade dealer and representative of both plants. |
Cement & Steel: Mega Projects11 January 2005, Published under Cement NewsThe Thai government has implemented a strategy for developing the country’s infrastructure to support Thailand’s comparative advantages and to sustain growth. During the government budget period for 2005 - 2008, the government and state enterprises plan infrastructure projects totaling Bt2,702 trillion. Of this, mega projects total Bt1,508 trillion. At the October 19 cabinet meeting, the government passed a resolution to spend an additional Bt827bn over the next five years. According t... |
Semen Cibinong under investigation11 January 2005, Published under Cement NewsThe Jakarta Stock Exchange (JSX) planned to investigate the skyrocketing price of Semen Cibinong’s shares by 75 per cent ahead of the plan of majority ownership on the cement manufacturing company from Holchim to Holderfin BV. Harry Wiguna, the listing director of the bourse, said that the skyrocketing prices of the shares of Cibinong happened some days before the transfer of the shares. "We want to investigate why the share’s price skyrocketed jus some days before the transfer of the shar... |
Retail investors will be offered more bonds10 January 2005, Published under Cement NewsNew bond issues in 2005 are expected to become increasingly structured as public offerings aimed at retail investors rather than for institutional investors, according to the Thai Bond Dealing Centre. Nattapol Chavalitcheevin, the Thai BDC president, said institutional investors would typically take a more conservative approach in a rising interest rate environment, to minimize potential unrealized losses as investments were marked-to-market. A number of large companies, such as Siam... |
Holcim Transfer Semen Cibinong’s shares10 January 2005, Published under Cement NewsHolcim Participations (Mauritius) Limited had transferred its whole ownership on PT Semen Cibinong Tbk (SMCB) as much as 77.3 per cent to Holderfin BV, the owner of 100 per cent shares of Holcimin Participation. The President Director of Semen Cibinong, Timothy Mackay, in his report to the Jakarta Stock Exchange in Jakarta yesterday, said that the transfer of such ownership would not change the controlling shareholder of the company. "Before the transfer of the shares, Holderfin BV had be... |
India Cements in fund-raising move10 January 2005, Published under Cement NewsIndia Cements is raising nearly Rs 250 crore through a mix of instruments to foreign investors Asia Debt Recovery Company Ltd, ADM Maculus Fund LP and Sheen Pearl Investments. The funds will be utilised to refinance the company’s existing debt and meeting its working capital needs, the company said in a notice to shareholders. The company proposes to issue equity warrants and optionally convertible debentures. After the conversion of these two instruments into equity stock, promoters’ ... |