Cement News tagged under: Corporate
Cemex completes cash tender offers18 October 2004, Published under Cement NewsCemex has completed cash tender offers for its 12.75% notes due 2006 and 9.625% notes due 2009, it announced. Holders of the 2006 notes tendered US$39.8mn of the 2006 notes, representing 43.4% of the total 2006 notes outstanding, while holders of the 2009 notes tendered US$139mn, representing 69.2% of the total 2009 notes outstanding, said the release. Cemex is Mexico’s largest cement maker and sells cement and ready-mix throughout Latin America, the Caribbean the US, Spain, Egypt an... |
Taiwan’s cement makers posted strong nine month results15 October 2004, Published under Cement NewsDespite flat performance in shipment, Taiwan’s major cement producers witnessed their sales and earnings grow significantly in the first three quarters of this year. An industry insider said domestic cement producers recorded flat performance in shipment because of the impact of bad weather and the sluggish demand by public construction projects, but their earnings grew in line with the surge in product price in the first three quarters of this year. Taiwan Cement Corp., for instance... |
Thai TPIP creditors to vote on debt plan Oct 2815 October 2004, Published under Cement NewsThailand’s number three cement maker, will meet on Oct. 28 to vote on the company’s new debt restructuring plan, a creditor source said on Friday. The vote is expected to approve the firm’s request for an extension of its debt revamp period and a revision of the terms of restructuring $600 million of debt, he said. "The company’s creditors have already discussed the new debt plan with TPI Polene. They have already agreed," the source, who declined to be identified, told Reuters. ... |
More corporate activity likely14 October 2004, Published under Cement NewsIn a new report, analysts at JP Morgan expect further corporate activity in the cement and aggregate industries, reflecting both further consolidation in both industries and vertical integration between the two. In 1999-2000 there were 5 corporate transactions announced within 12 months, reflecting, in JPM’s view, companies concerns that they could miss out, as well as the opportunity created by weakness in targets share prices caused by poor trading. If further transactions are announced... |
Moody’s Reviews Mitsubishi Materials14 October 2004, Published under Cement NewsTokyo, October 14, 2004 -- Moody’s Investors Service today placed on review for possible upgrade the Ba1 long-term debt ratings of Mitsubishi Materials Corporation (Mitsubishi Materials). The review reflects Moody’s expectation that Mitsubishi Materials’ credit profile will improve as a result of continuing structural reform and cost cuts, and partly from improving fundamentals for non-ferrous metal products. Progress with structural reform and recovering fundamentals has driven improvement ... |
Ghana and the IFC14 October 2004, Published under Cement NewsGhana is conspicuously missing from the scheme of activities of the International Finance Corporation (IFC), a member of the World Bank Group (notes a local news report). Since 2002, IFC, which deals mostly with the private sector, has not made any investments in equity or loan to any of the country’s private sector companies. IFC’s mission is to promote sustainable private sector investment in developing countries by participating in the operations of the private sector to ensure its growt... |
Dniprotsement Increases production13 October 2004, Published under Cement NewsThe Dniprotsement company (Dniprodzerzhynsk, Dnipropetrovsk region) increased cement production by 55,000 tons or 42% to 186,000 tons during the third quarter of 2004, compared with the corresponding period of 2003. According to a company representative, production of clinker at the company rose by 10,700 tons or 14% to 86,200 tons during the July-September period of this year, compared with the corresponding period of last year. As Ukrainian News earlier reported, Dniprotsement cut produc... |
Thai TPI Polene Q3 net profit down13 October 2004, Published under Cement NewsTPI Polene PCL, Thailand’s third largest cement maker, said on Tuesday its third-quarter net profit fell 94 percent on the year due mainly to foreign exchange losses and a fall in domestic cement prices. TPIP, a unit of Thai Petrochemical Industry (TPI.BK), the country’s largest corporate defaulter, reported a net profit of 141 million baht ($3.42 million) for the July-September period versus 2.36 billion baht profit in the same period last year. Its third-quarter operating profit was down... |
Cemex focuses on China and India12 October 2004, Published under Cement NewsBarely two weeks have passed since Mexican cement company Cemex reported the it had just finalized the largest acquisition in its history which dates back to 1992, however, the firm’s expansion plans seem to know no end. "There are many other countries in which we know that sooner or later we will be operating, such as India, China and even Russia," said Lorenzo Zambrano, president and general director of the firm. On September 17, Cemex announced the agreement to acquire the British f... |
Export synergies08 October 2004, Published under Cement NewsThe stock price of UltraTech CemCo, the de-merged company from L&T, has been on rise in the last few days on huge growth potential from export market and also its synergies with Grasim, which has controlling stake in it. In the last three days, the stock price has gained 19 per cent. Rise in the stock price is accompanied with an increase in trading volumes. In today’s trading, the stock price gained 7.11 per cent at Rs 316.25 on the BSE with sizeable volumes traded. Analysts said that with... |