Cement News tagged under: corporate
Sichian Shuangma Cement Co Ltd to acquire 25% stake in Lafarge Dujiangyan Cement07 July 2011, Published under Cement NewsSichian Shuangma Cement Co Ltd, a producer and distributor of cement and electric power, is planning to acquire a 25% stake in cement manufacturer Lafarge Dujiangyan Cement Co Ltd. Both the companies are based in China. In 2010, Lafarge Dujiangyan recorded a net profit of CNY414m (US$62.81m). With this acquisition, Shuangma Cement will expand its business from Sichuan province to Guizhou province. |
CRH plc 1H11 development strategy update06 July 2011, Published under Cement NewsCRH plc, the international building materials group, today announces 21 acquisition and investment initiatives, totalling approximately €200m (US$287m) undertaken during the 1H11 as part of its continuing programme of development activity. The development initiatives included in this update are as follows: - Europe Materials: 1 acquisition, 2 investments – €40m - Europe Products & Distribution: 4 acquisitions, 1 investment – €20m - Americas Materials: 7 acquisitions, 2 investments – €98m ... |
India: Prism Cement to raise INR1bn via bonds05 July 2011, Published under Cement NewsPrism Cement plans to raise INR1bn (US$22.5m) via two-, three- and four-year bonds, a source with knowledge of the deal told Reuters on Tuesday. The company is looking to raise INR200m through two-year bonds at 11.2%, INR500m via three-year bonds at 11.6% and INR300m via four-year bonds at 11.8%, the source said. The issue, which opens on 11 July and closes on 13 July, is rated AA- by ICRA, according to the report. |
Binani to seek strategic investor in cement05 July 2011, Published under Cement NewsThe diversified commodity player Binani not only plans to relist Binani Zinc in about two years, but also bring in a foreign strategic investor into the recently-delisted Binani Cement around that time to fund further expansion, group chairman and promoter Braj Binani told DNA. Binani Cement was delisted from the bourses on 30 May, while Binani Zinc was delisted way back in the late 1990s following a complex corporate restructuring exercise. The original Binani Zinc was renamed as Binani I... |
India’s UltraTech Cement June shipments up 2%04 July 2011, Published under Cement NewsIndia’s largest cement producer, UltraTech Cement, said shipments in June rose an annual 2% to 3.22Mt. Production rose 1.9%to 3.21Mt, the company, which is part of India’s Aditya Birla Group, said in a statement. |
India Cements’ MD Srinivasan increases stake in company01 July 2011, Published under Cement NewsVice Chairman and MD of the Chennai-based India Cements, N Srinivasan has increased his stake in the company to 0.14% from 0.05% by shelling out INR18.9m (US$0.424m). Srinivasan has bought 280,000 shares in the company on 24 June via open market purchase. Along with his family members, he owns 25.18% in India Cements as of March 2011, which now increases to 25.32% with the current purchase, as per disclosures to the stock exchanges. The stake increase comes at a time that the India Cemen... |
China Resources Cement to acquire assets from Goldman Sachs01 July 2011, Published under Cement NewsChina Resources Cement Holdings Ltd, the largest cement producer in South China, has announced plans to acquire a 100% stake in Inner Mongolia Cement Strategic Investment Holdings Ltd (IMCS) from US-based investment bank Goldman Sachs at a consideration of CNY1.56bn (US$241m). IMCS holds a 40.6% stake in Inner Mongolia Mengxi Cement Co Ltd, which is the largest clinker and cement producer in the lnner Mongolia autonomous region. Inner Mongolia Mengxi Cement currently has eight clinker prod... |
China: Jidong Cement agreement for private placement30 June 2011, Published under Cement NewsTangshan Jidong Cement has won approval from the China Securities Regulatory Commission for its private placement, reports 163.com, citing a company filing. Jidong Cement intends to raise CNY1.914bn through the issue of 134m shares to Diamondrock Investment at CNY14.21 per share. Funds raised will be used to supplement Jidong Cement’s working capital. After the share acquisition, Diamondrock Investment will hold a 10 per cent stake in Jidong Cement. Diamondrock Investment is a wholly-owned... |
Lafarge and Anglo American seek asset buyers30 June 2011, Published under Cement NewsLafarge and Anglo American have approached potential bidders for some of their UK cement and quarrying assets, as the two groups look to pre-empt regulatory action over their bid to create the UK’s largest construction materials company. The companies, which in February announced a potential joint venture with expected combined sales of GBP1.8bn (US$2.9bn), distributed a memorandum of information earlier this week to other building material producers, inviting them to bid in the sale. The d... |
US Investment Firm Ups Share In Heidelberg Voting Rights28 June 2011, Published under Cement NewsGermany’s HeidelbergCement said Monday that U.S. investment firm Arnhold and S. Bleichroeder Holdings Inc. has increased its share in the company’s voting rights to more than 5%. Through its subsidiary First Eagle Investment Management, Bleichroeder now holds 5.12% in voting rights in the German cement maker, up from 3.12% previously, HeidelbergCement said. |