Cement News tagged under: Corporate
China Resources Cement raises stake in Guangxi07 October 2004, Published under Cement NewsChina Resources Cement Holdings Ltd said it will pay about 61.9m yuan (US$7.5m) for an effective 20.36 percent stake in its cement subsidiary in China’s southwestern province of Guangxi. The acquisition will boost the interest of China Resources Cement, a sister company of China Resources Enterprise Ltd, in Guangxi China Resources Hongshuihe Cement Co Ltd. to 90.36 per cent, it said in a statement. "The acquisition will enable the company to centralise the management and operations o... |
Holcim Espana appoints new directors06 October 2004, Published under Cement NewsSpanish cement manufacturer Holcim Espana has appointed two new members to its board of directors, with the aim of strengthening the company’s management structure. The new members are: Claudio Boada, chairman of Spanish business association Circulo de Empresarios and non-executive chairman of US investment bank Lehman Brothers in Spain and Portugal; and Rodrigo Charlo, chairman of Andalusian construction and services group Detea (Finacial Times report |
Noteholders agree to Cemex debt buyback06 October 2004, Published under Cement NewsCemex said on Tuesday a majority of note holders agreed to its debt buyback offer for its 2009 notes and extended the consent date for its cash tender offer period on other debt due in 2006. Cemex last month launched a cash offer to buy back $291.6 million in two tranches of debt. One was for $200 million in notes due 2009 and the other for $91.6 million maturing in 2006. Noteholders who consented to sell back the 2009 debt will receive a $10 commission above the tender offer price of $1.21... |
Rohrdorfer Zement Buys Austrian producer06 October 2004, Published under Cement NewsGerman cement producer Rohrdorfer Zement has bought the stake of Austrian Hatschek Group in local cement producer Gmundner Zement Produktions- und Handels GmbH for an undisclosed sum, it was reported on October 5, 2004. Through the purchase the German company has increased its stake in Gmundner Zement to 98 per cent from 26 per cent. Hatschek Group will in turn acquire shares in German cement producer HeidelbergCement AG, which is a 30 per cent shareholder in Rohrdorfer Zement. The owners... |
Egyptian National Cement06 October 2004, Published under Cement NewsEgypt’s National Cement Company (NCC) reported a net profit of 27.51 mln Egyptian pounds ($4.4m) for the fiscal 2003/04, ended June 30, 2004, compared to a net loss of 91.35 mln pounds ($14.7m) in 2002/03. NCC’s operating revenue jumped 47.17 pct year-on-year to 577.8 mln pounds ($92.7m), while the cost of sales increased 15.4 pct to 472.23 mln pounds ($75.8m). As a result, the company reported a gross profit of 105.57 mln pounds ($16.9m), compared to a gross loss of 16.47 mln pounds ($2.6m)... |
Buzzi Unicem modifies plans to buy Dyckerhoff stake06 October 2004, Published under Cement NewsBuzzi Unicem SpA has abandoned plans to buy a 24.19 per cent stake in German cement group Dyckerhoff AG from Sanpaolo IMI SpA unit IMI Investments before January, when the bank has the right to sell the stake to the Italian group, the daily MF said without giving a source. In September, deputy chairman Franco Buzzi said in an interview with the daily Il Sole 24 Ore that the group planned to review the agreement with Sanpaolo, so as to be able to buy the stake end-September/early October for ... |
ARM to Buy Firm in Zambia06 October 2004, Published under Cement NewsAthi River Mining (ARM), has announced plans to buy a multi-million lime manufacturing business in Zambia. The firm has also announced an Sh860 million-expansion plan to boost its production capacity in Kenya. The Zambian acquisition through a privatisation play follows the company’s successful entry into Tanzanian and South African markets. ARM has also signed a joint venture agreement that will see it set up a lime plant in Mali to service the gold mines. Mr Suresh Kumar, ARMs CEO, con... |
PPC scores all-time peak06 October 2004, Published under Cement NewsA slightly weaker rand and strong confidence in South Africa’s economy helped push stocks higher on Tuesday, with cement producer PPC surging to an all-time peak. Investors have voted with their wallets on bullish prospects for Africa’s biggest economy due to low inflation and healthy growth, sending shares to record highs last week. On Tuesday, more good news emerged when the country’s business confidence rose to record levels in September. The biggest gainer among the blue chips was Preto... |
Kharkov Stroyinvest new concrete plant05 October 2004, Published under Cement NewsKharkov Stroyinvest JSC in the Ukraine started the preparations for a new concrete batching plant, equipment for which was supplied from Germany. A new plant is expected to produce ready-mixed concrete, and then, paving slabs and other products, which are necessary for road-building. The plant is also expected to start-up production of bituminous concrete for pavement, using polymer-bitumen binding components, and also colored bituminous concrete. |
ACC now a Superbrand05 October 2004, Published under Cement NewsACC, India has earned the distinction of being the only cement Superbrand in the country. Superbrands announced its first list of top 100 brands in India and ACC is the only cement brand that figures in this list. Widely regarded as the "Oscars in Branding", Superbrands are the best of the breed and consumers are instinctively aware of their distinction. The superbrands have been selected after a close scrutiny by the Superbrands team and a panel that included eminent personalities from the... |