Cement News tagged under: corporate
Etex Group may acquire Lafarge gypsum business07 June 2011, Published under Cement NewsAccording to Bloomberg, Belgium-based Etex Group, may acquire Lafarge’s gypsum business for approximately EUR1000m. Lafarge’s gypsum arm, which employs almost 8000 people in 30 countries, reported sales of EUR1440m 2010. In China, South Korea, Malaysia, Thailand, Indonesia, Vietnam and India, Lafarge’s gypsum activities are in a joint venture with Australia’s Boral, Ltd. Lafarge also jointly controls gypsum operations with Etex Group in some Latin American countries. Reportedly, private e... |
Qassim Cement board member resigns, Saudi Arabia03 June 2011, Published under Cement NewsSaudi cement producer Qassim Cement Co (QCC) said in a bourse statement it had accepted the resignation of Khaled bin Saleh al-Mudaifer from the company’s board of directors, effective May 31. |
TCC to acquire Yingde Chien Kuo Mining, China03 June 2011, Published under Cement NewsTCC International (Hong Kong) Co, Ltd and TCC (Yingde) Cement Company Limited have entered into a framework agreement to acquire an 83.69% stake in Yingde Chien Kuo Mining Industrial Co, Ltd, a China-based limestone quarrying company, from Golden Canyon Limited, Wuxi Chien Bang Concrete and Nantong Chien Cheng Concrete. The transaction is valued at approximately HKD216.49m (US$27.82m). Both TCC International (Hong Kong) and TCC (Yingde) Cement are indirect wholly-owned subsidiaries of TCC ... |
Kuwait Cement posts 1Q net profit03 June 2011, Published under Cement NewsKuwait Cement Company said it booked a net profit of KWD 4.88m (US$17.7m) for the three months ended March 31, 2011, slightly down from KWD4.99m a year earlier. The cement producer reported earnings per share (EPS) of 7.89 fils for the first quarter of 2011, compared to 8.07 fils in the same period last year. The total assets dropped to KWD249.1m at end-March 2011 from KWD265.9m a year ago. |
Lafarge WAPCO May Raise NGN45bn from market03 June 2011, Published under Cement NewsLafarge Cement WAPCO Nigeria Plc is likely to hit the capital market with NGN45bn (US$289m) bond issue to refinance its medium-term loan in the third quarter of 2011, local sources have revealed. Lafarge Cement WAPCO had obtained NGN45.27bn syndicated multi-currency medium-term loan in 2008 to finance its expansion project called Lakatabu at Ewekoro, Ogun State. The repayment of the facility is expected to commence in the last quarter of 2011. But in order to mitigate its impact on the pr... |
Anhui Conch Cement appoints Zhang Mingjing as director03 June 2011, Published under Cement NewsAnhui Conch Cement Co, China’s largest cement maker by output, said Thursday it has appointed Zhang Mingjing as a director of the company with effect from May 31. Zhang, 48, is a senior economist who graduated from Anhui Normal University and joined the company in 1987. She is currently a deputy general manager of the company and chairman of Shanghai Conch Mingzhu Cement Co. |
Lafarge buys 35% stake in Spanish grinding unit03 June 2011, Published under Cement NewsLafarge Cementos SAU has acquired 35% of the shares of Elite Cements, a grinding operation located in the port of Castellón, Spain. The remainder of the shares are owned by the Obinesa Group which will manage the company independently. The agreement allows Elite Cement to secure a clinker supply from Lafarge plants as well as the technological support of the French cement giant. Source: El Economico, Spain |
Asia Cement returns with US$172.5m convertible bonds03 June 2011, Published under Cement NewsTaiwan-based Asia Cement last night returned to the market to raise US$172.5m from a convertible bond that was upsized by 38% from the original base deal and priced close to best terms for the issuer. This was Asia Cement’s second equity-linked deal this year following a US$375m exchangeable bond into textile manufacturer Far Eastern New Century in January. Both bonds were filed with the Taiwan regulators in December last year, but the company chose to sell the exchangeable first to take ad... |
DBS lowers West China Cement target price02 June 2011, Published under Cement NewsDBS Vickers Research lowered its target price for West China Cement to HK$3.3 from HK$4, and downgraded the stock to "hold" from "buy". It said 4M2011 Shaanxi urban FAI growth decelerated to 15.2% YoY compared with 32% YoY growth same period a year ago, well below China’s urban FAI growth of 41% YoY. The house is concerned that demand growth slowdown in Shaanxi will magnify potential oversupply of cement with the addition of 11Mta or 30% new clinker capacity in 2011. DBS estimated WCC 1Q11... |
BBMG completes purchase of assets, China02 June 2011, Published under Cement NewsBBMG Corporation completed the purchase of CNY2.65bn (US$408.8m) worth of assets from its parent, BBMG, according to a company filing. The target assets include Tianjin Jinzhu Concrete, Beijing Eco-island Science and Technology, Beijing Yaxin Special Building Material, Beijing Longshuncheng Chinese Furnishings, Beijing Yanshan Cement, Beijing Building Decoration, a 33.88 per cent stake in Beijing Cement Factory, and a 67.5 per cent stake in Jacuzzi Brands (Beijing) Building Materials, among... |