Cement News tagged under: corporate
Ciments Français merger approved23 December 2010, Published under Cement NewsCiments Français General Meeting of Shareholders approved today the merger by and into Ciments Français of Société Internationale Italcementi France (SIIF). Italcementi S.p.A., SIIF sole associate, also approved the transaction today. The merger is therefore fully effective with Italcementi S.p.A., having received the same amount of shares and voting rights as SIIF prior to the merger, becoming direct shareholder in Ciments Français. |
HeidelbergCement to invest in Russian plant22 December 2010, Published under Cement NewsGerman group HeidelbergCement intends to invest over RUR4bn (US$129.65m) in a project to build the second production line at the Cesla cement plant in Slantsy, Leningrad Region, 175km (109 miles) southwest of St Petersburg. |
Dangote cement price estimate raised at Stanbic22 December 2010, Published under Cement NewsDangote Cement Plc, Nigeria’s biggest company by market value, had its price estimate raised to NGN171 a share at Stanbic IBTC Bank Plc, citing its highest capacity utilisation in the fourth quarter. The estimate was increased from 170.5 naira, the Lagos- based bank said in an e-mailed statement. Stanbic reiterated its “buy” recommendation on the company. The new price estimate implies a 43 percent upside to the stock’s current price of 120 naira. Dangote Cement shares started trading on... |
KHD announces China partnership22 December 2010, Published under Cement NewsKHD Humboldt Wedag International AG announced today that it has entered into a strategic partnership with Beijing-based CATIC Beijing Co., Ltd. (CATIC), a subsidiary of China’s state-owned CATIC International Holdings Ltd, to capitalise on the rapidly expanding international market for the construction of cement plants. KHD’s Director Jouni Salo said that KHD and CATIC combined will be able to bid on a wider range of projects, including large turnkey projects, and penetrate the most importan... |
Jianfeng Group & Wannianqing Cement Receive Dividends21 December 2010, Published under Cement NewsZhejiang Jianfeng Group and Jiangxi Wannianqing Cement received dividends of CNY31.56m (US$4.7m) and CNY42.32m respectively from Nanfang Cement, reports Shanghai Securities News, citing filings by both companies. Nanfang Cement has a registered capital of CNY3.5bn, of which Jianfeng Group contributed CNY105m for a three per cent stake while Jiangxi Wannianqing Cement contributed four per cent. Jianfeng Group reported a net profit of CNY40.3m for the first three quarters. Net profit for 200... |
CNBM buys 7.88% stake in Fujian Cement21 December 2010, Published under Cement NewsChina National Building Material said its 80%-owned subsidiary South Cement Company Limited entered into the share transfer agreement with the parent China National Building Material Group Corporation to acquire 30.09 million shares in Fujian Cement Inc., representing about 7.88% of the of issued share capital of Fujian Cement, at CNY226m (equivalent to about HK$264 million). South Cement is to pay CNY162.5m (equivalent to about HK$190m) to China National Building Material Group within toda... |
VHMEL to acquire 25.93 % more shares of Pioneer Cement15 December 2010, Published under Cement NewsVision Holding Middle East Ltd (VHMEL), a company incorporated in British Virgin Islands has announced to acquire 57.773 million shares or 25.93 per cent shares of Pioneer Cement Ltd. According to an intimation to KSE on Tuesday, the Pioneer Cement that the Foundation Securities, local agent of VHMEL has sent an offer letter to the company on December 13, 2010. It may be noted that VHMEL had already purchased 49.084 million shares of PKR10 each or 22.03 per cent shares of the issued capita... |
LSR restructures financing for plant construction15 December 2010, Published under Cement NewsLSR Group and Bank VTB North-West have signed an agreement to open a loan facility worth RUB5bn (US$163m) . The new loan facility will substitute the existing loan facility of EUR 113.9m by RBS (formerly ABN AMRO) and HSBC, obtained in March 2008, for cement production equipment. The final redemption date for the new loan facility - December 2017 - is in fact equal to the one of RBS/HSBS loan. |
Blominvest raises target for Holcim Lebanon13 December 2010, Published under Cement NewsBlominvest raised the target for Holcim, the largest cement company in Lebanon, to US$16.6 per share due to the steady performance of the firm over the past few years. “We valued Holcim share at $16.6 using a Discounted Cash Flow (DCF) method based on a five-year forecast and a discount rate of 15 per cent. We assumed that revenue would increase by an annualised two per cent over the five-year period and determined the terminal growth rate at three per cent, taking into consideration the o... |
HeidelbergCement: co probe no evidence of cartel wrongdoing13 December 2010, Published under Cement NewsHeidelbergCement confirms it has received a notification from the European Commission on the continuation of a cartel probe started in 2008, but a spokesman for the company said its own internal investigation has revealed no evidence of any wrongdoing. The German cement maker will work with the commission, but expects to refute any allegations it acted incorrectly, the spokesman said. |