Cement News tagged under: Corporate
WEDCO to enter into new lease negotiations06 December 2004, Published under Cement NewsThe West End Development Corporation is to enter into new lease negotiations with the Bermuda Cement Company (BCC). WEDCO chairman David Burch made the announcement last night after staff at BCC - which leases its production site from WEDCO – went on strike because over the uncertainty of the company’s future at its current location. Yesterday Lt. Col. Burch said: “Let me first state for the record that BCC have held a monopolistic lease on the cement facility at the Royal Naval Dockyard fo... |
Philippines Republic Cement issues notes03 December 2004, Published under Cement NewsRepublic Cement Corp said it has issued PHP1.35 billion worth of 10-year convertible loan notes to Lafarge Holdings (Philippines) Inc. The convertible notes, issued Wednesday, carry an interest rate of 8% a year. Proceeds from the issue will be used by Republic Cement to purchase Continental Operating Corp, a local cement unit of Republic Cement shareholder, Lafarge. Lafarge can convert the notes to 1.35 billion common shares in Republic Cement. If it chooses to do so, that would increase th... |
Indocement eyes 10% sales increase in 2005, Indonesia03 December 2004, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk set the target that the revenue of the company would increase by 10% next year, compared to the target of 8% increase this year. The Finance Director of Indocement, Christian Kartawijaya, said that the company would keep maintaining its present market shares of 30%-31% by following the growth of the national cement market as well as national cement industry. He said that the national cement market would grow by 8%-10% next year. "We set th... |
China Res Cement to buy HK$152m JV stake, China03 December 2004, Published under Cement NewsChina Resources Cement Holdings Ltd has agreed to buy a 73.5 per cent stake in a cement production joint venture from its parent China Resources (Holdings) Ltd. for HK$151.7m (US$19.4m). The cement producer also said it would issue HK$800m worth of zero coupon convertible bonds due 2010 to its parent, raising funds to finance the purchase. The cement venture, Guangxi Pingnan China Resources Yufeng Cement Co. Ltd., operates a 5,000tpd clinker production line which is equivalent t... |
Misr Cement Quena completes sale of 465,630 shares03 December 2004, Published under Cement NewsMisr Cement Quena completed the sale of 465,630 shares that were previously not fully subscribed to, representing 1.55% of the company’s total shares at an execution price of LE27.77/share |
SEC approves Union Cement name change to Holcim Philippines03 December 2004, Published under Cement NewsPhilippines’ SEC approves Union Cement name change to Holcim Philippines MANILA Union Cement Corp said the Securities and Exchange Commission (SEC) has approved the amendment to its articles of incorporation and by-laws to reflect the change of its name to Holcim Philippines Inc. The change in name follows the decision of Bacnotan Consolidated Industries to sell its 51 per cent stake in Union Cement Holdings Corp, a major shareholder of Union Cement, to Cemco Holdings Inc, 40 pct-owned by Sw... |
Suez Cement nine-month net profit, Egypt03 December 2004, Published under Cement NewsEgypt’s Suez Cement reported a 94 per cent increase in nine-month 2004 net profit to E£182.59m. The company, 34 per cent owned by Ciments Francais, earned E£93.09m in the same period last year, the company said in the statement. Analysts have said Egyptian cement companies have benefited from a sharp rise in domestic cement prices this year, alongside a rise in cement exports. |
ZPA Picks Kenya’s Athi River Mining to Buy Ndola Lime01 December 2004, Published under Cement NewsThe Zambia Privatisation Agency (ZPA) has chosen Athi River Mining of Kenya as the preferred bidder for Ndola Lime Company. Other companies that tendered bids for Ndola Lime include the Chillerton Group, Capital Infrastructure of Mauritius, Tata Zambia Limited, Associated Cement Companies of India, the Nyimba Group and Agri Fuel Limited of Zambia. The successful bidder would hold 30 per cent shares while 25 per cent would be in the hands of management and the remainder of the shares retaine... |
Camargo Correa Cement to sell debentures01 December 2004, Published under Cement NewsBrazil’s fifth biggest cement maker Camargo Correa Cimentos, a unit of local construction and engineering group Camargo Correa, is preparing the first debenture issue in its history. The company plans to launch the sale of debentures worth 300 mln Brazilian reais (US$109.2m) in two series, according to an application with the country’s securities and exchange commission CVM. The funds are planned to be used to finance the company’s expansion strategy in Latin America. Camargo Correa Ciment... |
India limits foreign fund buying in ACC01 December 2004, Published under Cement NewsThe Reserve Bank of India said foreign institutional investors cannot make new purchases of Associated Cement Companies Ltd. (ACC) without its approval, as their holdings had reached the trigger limit of 24 percent. Shares in ACC, the second-biggest cement maker by capacity, ended 1.3 per cent lower at 286.80 rupees in a firm Bombay market ahead of the announcement on Tuesday. |