Cement News tagged under: corporate
Siam Cement sells bonds, Thailand15 October 2012, Published under Cement NewsSiam Cement PCL, Thailand's largest industrial conglomerate by sales, Monday said it has sold a THB6.5bn (US$211.6m) seven-year bond to institutional investors. Upon issuance, Siam Cement will have THB126.5bn in outstanding bonds, the company said in a filing to the Stock Exchange of Thailand. The seven-year bond will have a coupon of 4.40 per cent, the company said in a separate filing to the Securities and Exchange Commission. (Source: Dow Jones Global Equities News) |
FCC gives cement unit EUR100m loan12 October 2012, Published under Cement NewsSpanish builder FCC said on Thursday it has given its Cementos Portland unit a EUR100m (US$129m) transitory loan as part of the cement arm's refinancing agreement with its creditors. Separately, Cementos Portland said it may consider following through with capital hike plans in 2013 if market conditions are suitable (Source: Reuters) |
PPC appoints Ketso Gordhan as CEO, South Africa12 October 2012, Published under Cement NewsThe board of directors of PPC has announced the appointment of Mr Ketso Gordhan to the Board as Chief Executive Officer Designate from 1 November 2012. He will succeed Mr. Paul Stuiver as Chief executive Officer from 1 January 2013. PPC Group Chairman, Bheki Sibiya, commented: "While earlier this year we extended the time frame to finalise the process for appointing the new CEO we believe it was very worthwhile as we are delighted now to appoint Ketso as the next CEO. My PPC colleagues an... |
ArcelorMittal chief to bid for Lafarge/Tarmac assets, UK - report10 October 2012, Published under Cement NewsChairman and CEO of global steel giant ArcelorMittal, Laskshmi Mittal, is reportedly bidding for assets put up for sale by Anglo American and Lafarge UK, according to reports by Sky News. Mr Mittal, whose wealth was estimated at £12.7bn, is said to be bidding for the assets which have been ordered to be sold by the UK’s Competition Commission as a pre-condition for the completion of the Tarmac (Anglo’s UK business) and Lafarge UK merger. In a statement in May, the Competition Commissio... |
Lafarge Malayan Cement leads on analyst revisions10 October 2012, Published under Cement NewsLafarge Malayan Cement leads on analyst revisions among 12 companies in the Malaysian materials sector tracked by at least three analysts, data from Thomson Reuters StarMine shows. The company has an Analyst Revision Model (ARM) score of 94, the highest in the sector. It also has above-average Value Momentum (Val-Mo) and Earnings Quality (EQ) scores of 75 and 81 respectively. A high Smartholdings (SH) score of 80 suggests a potential increase in institutional ownership. The company's f... |
CRH announces termination of negotiations in India10 October 2012, Published under Cement NewsCRH plc announced that it has terminated negotiations with Indian cement producer Jaypee Cement Corporation (Jaypee) regarding the possible purchase by CRH of an equity stake in Jaypee’s Gujarat cement business. CRH said these negotiations were terminated as the parties were unable to agree terms. The Irish-based building materials major said that it acknowledges the co-operation of the Jaypee management team throughout the negotiations and due diligence process. CRH confirmed back in A... |
Seacem in voluntary buy back offer, Philippines09 October 2012, Published under Cement NewsSoutheast Asia Cement Holdings Inc (Seacem) is launching a voluntary tender offer to buy back up to 93 percent of its shares in exchange for a mix of shares in its majority-owned subsidiary Lafarge Republic Inc. (LRI) and cash. Based on its disclosure to the Philippine Stock Exchange (PSE) on Monday, the board of Seacem approved the buyback of a total of 989.34 million shares in exchange for Seacem’s shares in LRI at an exchange ratio of 3.73 Seacem shares for every one LRI common shar... |
Nalanda Capital cuts stake in Shree Cement, India09 October 2012, Published under Cement NewsNalanda Capital has sold around half of its holding (3.25%) in Shree Cement. The fund sold around 1.61 per cent or 561316 shares for INR3800.84 per share, aggregating around INR213.33 crore through bulk deal on the Bombay Stock Exchange. Nalanda Capital made around 2x returns from this share sale. It invested in the company between June and September 2011 when the prices were hovering between INR1600-1800 crore. |
Southern Province Cement 3Q12 up 11.7 per cent, Saudi Arabia08 October 2012, Published under Cement NewsSaudi Southern Province Cement Company said on Sunday its third-quarter net profit rose by 11.7 percent over last year's figure due to higher local demand. The company said net earnings were SAR201m (US$56m) in the three months to Septebmber 30, compared to SAR180m in the third quarter of last year. The results were 23-percent below that of the second quarter, a decline the company attributed to lower sales during the Muslim holy fasting month of Ramadan when activity slows. |
Cyprus Cement to examine restructuring plan08 October 2012, Published under Cement NewsThe Board of Directors of Cyprus Cement Company Public Ltd announces that it will meet on Wednesday, October 17, 2012 to examine the restructuring plan of the existing corporate structure of the Group to create a more flexible group, reflecting the sectors in which it is actively involved. |