Cement News tagged under: Corporate
Mondi headquarters to move to Vienna19 November 2004, Published under Cement NewsMondi Packaging has announced a decision to locate its headquarters in Vienna rather than London following a merge between Mondi Packaging and Austrian Frantschach. Frantschach’s outgoing CEO Veit Sorger said the decision was a sign of confidence from the British-South African owners. The merged companies, which include Mondi Business Paper (formerly Neusiedler), together turn over five billion euros a year. Sorger’s successor Peter Oswald said that due its international nature, Mondi Packagi... |
St. Lawrence Cement Group announces a dividend increase19 November 2004, Published under Cement NewsThe Board of Directors of St. Lawrence Cement Group has approved a 12 per cent dividend increase. Consequently, a dividend of $0.14 per share on the subordinate voting Class A shares, the Class B shares and the special shares will be paid on February 1, 2005 to shareholders of record on January 15, 2005, bringing the annual dividend to $0.56 per share compared to $0.50. St. Lawrence Cement Group is a leading producer and supplier of products and services for the construction industry, namel... |
Cemex cut to ’hold’ from ’buy’ at ING19 November 2004, Published under Cement NewsING Financial Markets has lowered its recommendation on Cemex SA to ’hold’ from ’buy’ after the recent 14 per cent recovery in the company’s share price. The rebound has taken the stock back to where it was trading before the Mexican cement maker announced the acquisition of the UK’s RMC Group PLC, ING analyst Mark Cartlich said in a note. Cemex’s shares are now trading 1 per cent above ING’s revised target price of US$31.1 and thus no longer warrant a ’buy’ rating, he added. RMC said yesterd... |
Managerial Reshuffle at Eurocement19 November 2004, Published under Cement NewsA conflict has erupted among Eurocement shareholders, with the Russia Partners fund suspecting other company shareholders of asset stripping. The fund holds above 40 per cent in Eurocement, Russia’s second largest cement producer. Filaret Galchev, who owns a controlling share in Eurocement, and Mikhail Skorokhod, Eurocement president, recently left the company’s board, with Skorokhod also stepping down as company president. Last spring, Galchev initiated an additional share issue, worth $15... |
Italcementi To Set up Research Centre Near Bergamo19 November 2004, Published under Cement NewsItalian cement producer and distributor Italcementi will build a research centre in the new science and technology park Kilometro Rosso near Bergamo, northern Italy, the company said in a statement. The project for the new centre envisages setting up of a 7000 sq m building which will be used for offices and laboratories. The centre will host employees and researchers of Italcementi who currently work at another locations of the company. Works on the centre will start in 2005 and the desig... |
State Cement Corporation shares handed over to PIDC19 November 2004, Published under Cement NewsKARACHI: The 100 percent shares of State Cement Corporation worth Rs150 million have been handed over to PIDC on the directives of Prime Minister Shaukat Aziz. Joint Acting Chairman of the State Cement and PIDC Abdul Bari took this action after the approval of the Board of Directors of State Cement Corporation, the sources said on Thursday. He also merged the Board of Directors of the two Corporations, however, the sources said, he did get the permission of Securities and Exchange Commission ... |
Rinker cements record result19 November 2004, Published under Cement NewsRinker Group quashed any lingering concerns about the impact of the recent Florida hurricane season on its US operations by providing the market with a profit upgrade - its second in four months - and a record half-year result. Rinker shares hit an all-time high of $9.38 before closing 35 ¢ higher at $9.30, after the construction materials group beat market expectations by reporting a 26 per cent lift in half-year net profits to $294 million. Aside from crediting the resilient US housing ... |
Cemex waits to cement its gains18 November 2004, Published under Cement NewsExecutives of Cemex, the world’s third-largest cement company, are confident they can reap rewards from September’s UK£3.2bn (Dollars 5.8bn) acquisition of RMC of the UK, despite a negative market reaction (reports the Financial Times, London) After the all-debt deal, ratings agency Standard & Poor’s placed Cemex on credit watch with negative implications, implying the Mexican company’s investment grade could be in danger. Its share price dipped 10 per cent after the deal - at a premium ... |
Barloworld continues record growth18 November 2004, Published under Cement NewsBarloworld, the listed South African international brand management company, has increased its stake in Pretoria Portland Cement (PPC) to 71.6 per cent from 67.4 per cent through a R300 million investment. It has not excluded acquiring 100 percent of the listed cement and lime producer. Tony Phillips, Barloworld’s chief executive, said yesterday the group had "clearly been nibbling away at PPC" and at an appropriate price would look at acquiring 100 per cent. Phillips said incremen... |
Philippine Republic Cement17 November 2004, Published under Cement NewsRepublic Cement Corp said it will issue its convertible loan notes worth 1.35 bln pesos to Lafarge Cement to December 1. The notes were previously planned to be issued last Monday. It did not say why the issue date was changed. Republic Cement previously said it will issue the debt papers to Lafarge Cement as payment for the latter’s wholly-owned unit Continental Operating Corp. The notes will have an annual interest rate of 8 per cent and can be converted into 1.35 bln... |