Cement News tagged under: corporate
Price woes damp M&As in cement sector, India28 March 2011, Published under Cement NewsGlobal cement majors, who have been looking to strike M&A deals in India, are increasingly finding the existing high valuations in the 280Mt Indian cement industry a dampener. According to industry sources, despite an oversupply situation taking a hit on margins of cement companies, sellers are unwilling to lower their valuations and are still looking at a minimum enterprise value (EV) of $180 per tonne, whereas the replacement cost (cost of setting up a plant) is only about $100-120 per to... |
Egypt Misr Cement Qena to distribute EGP 16 dividend28 March 2011, Published under Cement NewsEgypt’s Misr Cement Qena said on Sunday it will distribute EGP16 ($2.69) cash dividend per share. The company posted a 21.6 per cent rise in full year 2010 net profit to EGP428.3m. Its shares rose 10 per cent on Sunday. |
China Shanshui Cement announces 2010 annual results28 March 2011, Published under Cement NewsChina Shanshui Cement, the largest cement enterprise in Shandong and Liaoning Provinces in China, announced its audited annual results for the 12 months ended 31 December 2010, prepared in accordance with International Financial Reporting Standards. In 2010, the Group’s revenue grew by 35.8% year on year to RMB11,854m. Gross profit increased by 43.2% YoY to RMB2,550m. Profit attributable to equity holders of the Company achieved substantial year-on-year growth of 39.6% to RMB979m. Basic ear... |
Ciments Français completes the sale of Turkish activities28 March 2011, Published under Cement NewsCiments Français (Italcementi Group), on Friday 25 March 2011 formally completed the sale of the Turkish subsidiary Set Group Holding to Limak Holding. The deal, announced on 25 February 2011, was subject to the approval by the relevant authorities in Turkey. Under the terms of the agreement, the sum paid at the closing was approximately EUR270m in cash. |
Semen Bosowa to raise IDR600bn from IPO, Indonesia28 March 2011, Published under Cement NewsIndonesian cement maker PT Semen Bosowa plans to raise at least IDR600bn (US$69m) from an initial public offering (IPO) slated for the fourth quarter of 2011, Bosowa Corporation Chief Executive Officer Erwin Aksa told Dow Jones Newswires. Aksa didn’t disclose the size of the stake that Semen Bosowa will sell in the IPO. "The proceeds from the IPO will be used to help finance our plan to build a cement plant in Sulawesi," Aksa said. He said that the cement plant will have a capacity of up t... |
Cementos Lima to issue US$150m bonds28 March 2011, Published under Cement NewsPeruvian-based cement producer Cementos Lima plans to announce a bond issue of up to US$150m. The bonds will be at 20 years at a fixed or variable rate (LIBOR), with the structuring agent Scotiabank Peru SAA and the underwriter will be S.A.B. Scoti |
Sinai Cement to pay EGP9.50 dividend28 March 2011, Published under Cement NewsEgypt’s Sinai Cement shareholders have approved a EGP9.50 (US$1.60) cash dividend for 2010, the company said in a statement released on Monday by the stock exchange. |
Century Plyboards to demerge two divisions, India28 March 2011, Published under Cement NewsCentury Plyboards Monday said its board has approved demerger of its ferro alloys and cement division into a new wholly-owned subsidiary Star Ferro And Cement. The ferro alloys and cement division of Century Plyboards includes ferro alloys and power plant in Meghalaya and its investment in a cement producing company in the state. The remaining businesses, which include manufacture of plywood laminate, veneer and allied products, will continue to be managed by Century Plyboards. Star Ferr... |
Cemex closes convertible subordinated notes offering25 March 2011, Published under Cement NewsCemex announced the closing of an offering of US$1.67bn aggregate principal amount of two series of convertible subordinated notes, one of which matures in 2016, and the other in 2018. This amount reflects the full exercise of the US$267.5m over-allotment options granted to the initial purchasers. Substantially all the new shares approved at Cemex’s extraordinary shareholders’ meeting on February 24, 2011 are being reserved by Cemex to satisfy conversion of the notes. Consequently, Cemex do... |
TPCC offers dividend, Tanzania25 March 2011, Published under Cement NewsTanzania Portland Cement Company Limited (TPCC), which trades as Twiga Cement, is offering a dividend of TZS25.102bn after posting a net profit of TZS50.205bn in 2010. In 2009, the company offered a dividend of KES130 per share, after recording a net profit of KES47.992bn. “The total proposed dividend represents 50 per cent of the net profit for the year,” the company’s board chairman said in a statement yesterday. The company attributes its performance on an 18 per cent growth in deman... |