Cement News tagged under: Corporate
Wolseley downgrade say analysts13 December 2004, Published under Cement NewsDeutsche Bank has transferred coverage of Wolseley and undertaken a major review of the company. In its view most of the group’s key markets have peaked and are likely to decline in 2005. “As a result we expect growth to stall next year. Our bleak outlook is not reflected in the stock’s premium rating. Our economic profit model implies a fair value of 800p (down from 880p) - more realistic at this stage in the cycle, in our view.” Most of the group’s markets are likely to come under sever... |
UltraTech Cement revenue to touch Rs.27bn10 December 2004, Published under Cement NewsUltraTech Cement, a unit of the Aditya Birla Group, is set to register a 12 percent rise in revenue to touch Rs.27bn ($614m) this fiscal. OP Puranmalka, the chief marketing officer of UltraTech Cement, said this here, adding that last year the company’s earning was Rs.24bn. "UltraTech Cement will make a capital expenditure of Rs.2bn for de-bottlenecking its plants within two years for expanding the production capacity by 2.5 million TPA (tonnes per annum)," Puranmalka told IANS. He was in... |
Dollar weakness to drive up sales for Cemex09 December 2004, Published under Cement NewsA wobbling dollar means more solid sales for Mexico’s Cemex as currency appreciations in its operations from Barcelona to Bogota are seen translating into higher greenback revenues. Analysts say dollar weakness against the euro is beefing up Cemex’s top-line growth from its Spanish unit during the fourth quarter. The Mexican peso’s strength is also expected to boost revenues, almost certainly to record levels. And currencies are up even in countries such as Colombia, Cemex’s No. ... |
HeidelbergCement seals EUR 1bn refinancing loan, Germany09 December 2004, Published under Cement NewsHeidelbergCement has signed a EUR 1bn (US$1.3bn) loan to refinance its outstanding debt facility. The company said the loans would improve its debt maturity structure and reduce funding costs. It said the multi-currency revolving credit facilities refinanced its outstanding EUR 1.07bn loan, the balance from the original EUR 1.5bn facility maturing in 2006. HeidelbergCement said the loans consisted of three-year EUR 400m and a five-year EUR 600m tranches, with initial ma... |
Shiva board approves fresh issue of equity shares, India09 December 2004, Published under Cement NewsShiva Cement Ltd., has informed BSE that the Board of Directors of the Company at the meeting held on December 06, 2004 have approved the following: * Proposal for raising fresh equity share capital by offering equity shares of Rs 2/- each at a premium upto Rs 3/- per equity share to its existing shareholders in such proportion as the committee of directors may decide. The committee of directors in consultation with Merchant banker will decide the quantum of right issue, price, ratio a... |
Government may allow Cemex to increase stake in Gresik, Indonesia07 December 2004, Published under Cement NewsThe Indonesian government is considering an option to allow Cemex to increase its stake in the country’s largest cement maker PT Semen Gresik to 49 or 51 per cent, according to local news reports, citing Coordinating Minister for Economic Affairs Aburizal Bakrie. ’Cemex can increase its holding to 49 or 51 per cent (from the current 25 per cent). But the government is not willing to sell at the current price (of around 12,000 rupiah per share),’ the report quoted Bakrie as saying. ... |
Efforts to reopen CCI unit06 December 2004, Published under Cement NewsRepresentatives of the Cement Corporation of India Employees Union (CCIEU) and Staff and Workers’ Union (SWU), Adilabad, will meet the Chief Minister, Y. S. Rajashekhara Reddy, on December 7 to urge him to represent the issue of reopening the CCI’s Adilabad unit with the Board for Industrial and Financial Reconstruction (BIFR) and the Union Government. The meeting was arranged at the behest of the Adilabad MLA, C. Ramchander Reddy. The representatives would also attend a meeting with th... |
Austrian Lasselsberger wins permit for Czech plant06 December 2004, Published under Cement NewsAustrian ceramics and building materials group Lasselsberger GmbH will build a 2.5 billion crown (US$108m) cement factory in the Czech Republic, the company’s Czech unit said on Friday. The firm said it had won building permission for the plant, following several years of disputes with an environmental group, and the permit has now entered into force. |
Cimpor buys Spain’s Branas de Brins06 December 2004, Published under Cement NewsPortuguese cement company Cimpor has bought Spanish company Branas de Brins for Euro 7.51m. Cimpor said late on Thursday its Spanish subsidiary Noroeste Corp., signed the contract to buy Branas de Brins on Monday. Branas de Brins operates a granite quarry in Santiago de Compostela with a sales volume of 300,000 tonnes per year. |
Raysut Cement proposes RO15m rights06 December 2004, Published under Cement NewsRaysut Cement, Oman has proposed to come out with a rights issue of five million shares at a price of RO3.000 per share aggregating to RO15 million. The rights offer is to part-finance the company’s RO20 million expansion-project, which the company had embarked up on sometime ago. Official sources said the company is in the process of expanding its production capacity by another 1.2Mt. Through the rights issue, the paid-up capital of the company will be increased to RO20 million from the c... |