Cement News tagged under: Corporate
UAE Gulf Cement Gets $41.7m loan25 November 2004, Published under Cement NewsUAE cement maker Gulf Cement Company, based in the emirate of Ras-al-Khaimah, has secured a loan worth 153 mln UAE dirhams ($41.7m) from Jordan-based Arab Bank, it was reported on November 24, 2004. The company will use the loan to finance part of its expansion project, which is estimated at some 370 mln dirhams ($100.7m). The loan agreement was signed between Gulf Cement chairman, Sheikh Omar bin Saqr al-Qasimi, and the manager of Arab Bank in Ras al-Khaimah, Ali Deeb Zatar. |
State Cement merged into PIDC25 November 2004, Published under Cement NewsPakistan State Cement Corporation (SCC) has been merged into Pakistan Industrial Development Corporation (PIDC) according to managing director of State Cement Corporation, Mohammad Aslam Chandio. He said that the Boards of Directors of both SCC and PIDC have approved the merger and the official notification in this regard would be issued in next few days. He further told that this decision of merger has been taken for reducing the expenditures and restoring the financial position of the Corpo... |
Holcim sells to Credit Suisse First Boston International24 November 2004, Published under Cement NewsIn December 2001 Holcim concluded a Total Return Swap contract with Cartera Lusitana SA related to 9.5 per cent shareholding in Cimpor - Cimentos de Portugal, SA. The Total Return Swap agreement is now being terminated and the entire share package is being acquired by Holcim through a subsidiary. At the same time, the Holcim subsidiary is selling a 7.7 per cent holding to Credit Suisse First Boston International, leaving a 1.8 per cent holding in the Portuguese cement producer in Holcim’s ow... |
CSFB launches Euro 370m convertible into Cimpor24 November 2004, Published under Cement NewsCredit Suisse First Boston said on Wednesday it had launched a Euro 369.7m bond exchangeable into shares of Portugese cement company Cimpor. The bonds will mature in 2007, carry a coupon of 2 to 2.5 percent and be exchangeable into Cimpor shares at an exchange price of Euro 4.35. CSFB is also acting as sole bookrunner on the deal. CSFB will issue the notes following its purchase of 85 million Cimpor ordinary shares from C+P.A. Cimento e Produtos Associados and Libergeste, SGPS, Unipessoal, Ld... |
Malayan cement reports sharp fall in pre-tax profit24 November 2004, Published under Cement NewsLafarge Malayan Cement Bhd’s group pre-tax profit for the third quarter ended 30 September 2004 plummeted 60.4 per cent on-year to RM18.602 million (US$4.9 million) due to lower domestic demand, softer selling prices and higher production costs. Group revenue during the current quarter slipped 1.7 per cent on-year to RM454.956 million, it said in a filing to Bursa Malaysia. Lafarge said cement demand has been knocked hard by a slowdown in construction activities due to the shortage in st... |
Investment by Thai Pride Cement Co23 November 2004, Published under Cement NewsItalian-thai Development Public Company Limited would like to notify information of Investment in Thai Pride Cement Company Limited ("TPCC"), established on 16 October 2003, as follows: The Company has invested in TPCC on March 10, 2004 by purchasing 76,500 shares of TPCC from the majority shareholder, R.N.C (Thailand) Co.,Ltd., at an average price of Baht 1,960.79 per share (Book value per share of TPCC as of 31 March 2004 is Baht 69.78 per share).TPCC’s registered fully paid up capital ... |
OCI Reports Record Results22 November 2004, Published under Cement NewsOrascom Construction Industries, Egypt, announced consolidated revenue of LE2417.3m (LE 1,145.1m) during the same period last year) with a gross profit of LE 637.3 million (LE 331.4 million), and net income of LE 323.0m (LE 152.0m) for the third quarter ended 30 September 2004. OCI Chief Executive Officer, Nassef Sawiris commented "third quarter consolidated revenue is up 111% and net income is up 113% over last year. Our exceptional financial results continue to be driven by our succe... |
New supply chain management for Lafarge India22 November 2004, Published under Cement NewsPeoplesoft has announced that it has successfully deployed PeopleSoft EnterpriseOne Supply Chain Management, Financial Management and Asset Management Solutions in seven months at Lafarge India. PeopleSoft solutions will help Lafarge India synchronise its inbound supply chain and streamline procurement and inventory management across all company locations. The solutions will also allow Lafarge India to conduct online financial transactions, leading to improved data integration and coordin... |
James Hardie warns on profit22 November 2004, Published under Cement NewsBuilding materials company James Hardie Industries NV today warned that its annual profit would fall below market expectations due to increased costs and the possible boycott of its products in Australia. James Hardie today posted a nine per cent decline in first half net profit to US$61.1m, due to costs associated with the NSW government-commissioned inquiry into the compensation of asbestos victims. The group is in negotiations with union and asbestos victims groups representatives t... |
Anhui Conch to buy Fenyi Conch Cement19 November 2004, Published under Cement NewsAnhui Conch Cement Co Ltd (SHA 600585; HK 0914) said it has signed an agreement with Shanghai Xingchang International Trade Co Ltd to acquire the Shanghai firm’s 49 pct stake in Fenyi Conch Cement Co Ltd. In a statement filed with the Shanghai Stock Exchange Anhui Conch Cement said it, and its wholly-owned subsidiary Anhui Ningguo Cement Plant, will pay a total of 58.42 mln yuan for the stake. After the deal, Anhui Conch Cement’s stake in Fenyi Conch Cement will rise to 90 pct from 51 pct, wh... |