Cement News tagged under: Corporate
Mediobanca Cuts Ciments Francais stake31 December 2004, Published under Cement NewsMediobanca SpA, the Italian investment bank, has cut its stake in French cement supplier Ciments Francais to below 10 per cent, according to a notice Friday from Paris stock market watchdog the Autorite des Marches Financiers. Mediobanca now holds 9.1 per cent of the French company and 5.5 per cent of its voting rights. The move is the result of an equity swap which expires at the end of January, the notice said, without giving further details. |
Malaysia Lafarge Malayan to shed United Cement stake31 December 2004, Published under Cement NewsLafarge Malayan Cement Bhd said its Kedah Cement Holdings Bhd unit will sell a 49 per cent stake in United Cement Pte Ltd, a Singapore company, to Pan United Industries Pte Ltd. Pan United, a Singapore company, will pay a cash sum of MYR21.1m for the stake. The amount is more than Kedah Cement’s original MYR8.6m purchase of the stake in 1995. Pan United already owns a 51 per cent stake in United Cement. Proceeds of the sale will be used to reduce group borrowings, Lafarge Malayan said in... |
Quinn Group maintains the pace31 December 2004, Published under Cement NewsIt has been a landmark year for the Quinn Group, the Cavan-based firm that continues to make its name in the most unlikely of places. For one thing, the company’s turnover, which is drawn from at least five different business sectors - from insurance to cement - is topping €1bn for the first time. This jump from €600m in 2003 will come as pre-tax profits rise from €160m to more than €200m. For a private company that has never raised funds on the stock market, such numbers are dizzying... |
Cimpor may have to shed shares in South Africa’s NPC30 December 2004, Published under Cement NewsCimpor will have to take a partner in its South African unit Natal Portland Cement and may have to transfer as much as 26 per cent under new legislation, Jornal de Negocios reported, citing a Cimpor internal document. Cimpor will have to give up a stake in NPC in order to comply with new legislation affecting natural resources extraction companies, within the framework of the Black Economic Empowerment programme, the report said. |
Construction boom spurs India’s cement industry30 December 2004, Published under Cement NewsPropelled by a boom in construction sector, the Indian cement industry recorded a growth of over seven per cent even though a slump in prices was seen towards the end of 2004. Intense construction work in road and highways during the year spurred demand for cement though the transporters’ strike came in the way of higher growth by affecting despatches of cement to various destinations. The positive factors led to fresh investment plans in the sector as company after company realised pot... |
Taiwan Cement higher on 2004 earnings forecast hike30 December 2004, Published under Cement NewsTaiwan Cement Corp was higher following the company’s move to raise its earnings forecast, dealers said. Taiwan Cement was up TR$0.20 at 21.10 on volume of 1.62m shares. The company has raised its 2004 parent net profit forecast to TW$4.5bn from the TW$3.05bn estimated previously in April. |
TPIPL earnings recovering, but slow debt refinancing30 December 2004, Published under Cement NewsTPI Polene (TPIPL) is expected to report strong recovery in 4Q04 earnings, supported by improved product-to-feed margin for the petrochemical business, FX gains from the strong baht and no extra expenses associated with the unplanned shutdown of the cement plant in 3Q04. As a result, TPIPL is expected to report Bt750m net profits from core operations in 4Q04. Cement sales volume is forecast to be flat QoQ in 4Q04 at 2.0Mt, while domestic cement prices are expected to fall slightly from 3... |
Building materials sector to benefit from reconstruction30 December 2004, Published under Cement NewsThe deadly tsunami that struck Thailand’s southern provinces on Sunday will boost the cement, steel, construction material and shipping industries, while tourism will only be affected in the short term, KGI Securities (Thailand) said yesterday. The disaster should not be significant from an economic perspective as the affected provinces accounted for only 2.1 per cent of gross domestic product this year but the key concern is tourism, which is now in peak season. "The broader economic i... |
JP Morgan Fleming buys into Cementir30 December 2004, Published under Cement NewsUS financial adviser JP Morgan Fleming Asset Management has acquired 2.093 per cent in Italian cement company Cementir, it was reported on December 29, 2004. The news was released by the Italian stock market regulator Consob. The operation was carried out on December 10, 2004, Consob added. |
Colombian Colclinker buys stake in Tablemac30 December 2004, Published under Cement NewsColclinker has bought a 31.44 per cent stake in another Colombian company, the converted paper producer Tableros y Maderas de Caldas (Tablemac), Colclinker said on December 28, 2004. Colclinker is a unit of local cement maker Cemento Argos. The operation was completed through the Colombian Stock Exchange (BVC). Colclinker bought the stake for a total 7.064bn Colombian pesos (US$2.92m). |