Cement News tagged under: corporate
Holcim hikes stake in ACC13 December 2010, Published under Cement NewsHolcim Ltd has increased its stake in Mumbai based Cement company ACC Ltd by 1.17 per cent to 47.37 per cent, through Ambuja Cement India Pvt Ltd, by purchasing 22.13 lakh shares for INR 237.79 crore in a bulk deal on the Bombay Stock Exchange on Friday. Holcim bought a majority stake in ACC in 2005 through Ambuja Cements, it is currently the promoter of both ACC and Ambuja Cement Ltd. |
Chile’s Gasco to sell stake in Cemento Polpaico13 December 2010, Published under Cement NewsGasco SA, a Chilean gas distributor and holding company, will sell its 40.9 per cent stake in Chilean cement producer Cemento Polpaico SA. Funds raised from the sale will be used to finance the expansion of natural gas and liquified petroleum gas operations in Chile and Colombia, Gasco said in an e-mailed statement. Holcim owns a 54.3 per cent stake in Polpaico, according to data compiled by Bloomberg. |
Buzzi Unicem writes down value of US Illinois plant13 December 2010, Published under Cement NewsItalian cement producer Buzzi Unicem said on Friday its US subsidiary RC Lonestar Inc had decided to write down the book value of property, plant and equipment at its clinker and cement production site in Oglesby, Illinois. The activities at the plant, which has a production capacity of 700,000t of cement, have been suspended temporarily since December 1, 2008 with the prospect to resume production in the short-term, the Buzzi Unicem statement reads. Since the halt of production to date, t... |
Limak Holding to hold IPOs for its units, Turkey13 December 2010, Published under Cement NewsTurkey’s Limak Holding will hold inital public offerings (IPOs) for its cement and tourism units after an IPO for its investment unit, Chairman Nihat Ozdemir told a press conference on Sunday. "After Limak Investment Holding IPO is completed in the first half on 2011 we are going to hold an IPO for our cement unit. Next, we will consider the tourism unit too," Ozdemir said. Limak Holding also intends to increase the installed capacity in its hydroelectric power plants. "The installed capa... |
Dangote Cement has 22% ‘Potential Upside,’ CSL says13 December 2010, Published under Cement NewsDangote Cement Plc, Africa’s biggest producer of the building material, may climb 22 per cent by December 2011 as it increases production and cement demand rises, CSL Stockbrokers Ltd. said in an e-mailed note today. Dangote is “within striking distance” of increasing its production capacity to 20Mta, which will give it a market share of 70 per cent in 2012, said CSL, which assigned the company a ‘neutral’ rating in new coverage. The predicted increase is in line with CSL’s expectations fo... |
China Resources buys HK & Guangzhou cement business06 December 2010, Published under Cement NewsChina Resources Cement said its wholly-owned subsidiary China Resources Cement Holdings (Hong Kong) Limited (CRC Hong Kong) entered into an agreement with Century Cement International Limited (CCCI) and Yue Xiu Enterprises (Holdings) Limited to acquire 50% of issued share capital in each of Easy Point Industrial Limited, Squareal Cement and China Century Cement Limited (CCC) and the shareholder’s loan as well as the sale debt of YXE-HK from YXE-HK at a total of HK$1.24bn. Upon Completion, C... |
Shiva Cement fixes date for bonus03 December 2010, Published under Cement NewsShiva Cement Ltd has announced that the Committee of Board of Directors of the Company has fixed December 11, 2010 as Record date for the purpose of issue of Bonus Share to the shareholders in the ratio of 1:10 (i.e. one bonus share against every 10 equity shares held). |
Yanbu Cement gets ’Neutral’ recommendation03 December 2010, Published under Cement NewsThe Bahrain-based TAIB maintained its earlier Neutral recommendation on Saudi Arabian cement producer Yanbu Cement Co (YCC) in its equity research report released on Thursday. It had updated YCC on Sept. 6 with a Neutral recommendation (target price of SR43.72 and an upside of 2.4 per cent). YCC reported total revenues of SAR683.1m during nine months of this year, down 9.3 per cent from SAR753m. Net profit fell 17.4 per cent to SAR330.8m from SAR400.5m. TAIB has maintained its sales estim... |
Murli Ind to hive off cement plant03 December 2010, Published under Cement NewsThe board of Indian cement producer Murli Industries has approved to hive off the cement plant into a separate entity, reports CNBC-TV18. |
Cemex rises to highest in 3 weeks on US data03 December 2010, Published under Cement NewsCemex climbed to the highest level in three weeks after a report on home sales signaled a better economic outlook for the US, the company’s second-biggest source of revenue. Cemex gained 2.7 per cent to 11.79 pesos in Mexico City trading at 4:00 p.m. New York time, the highest since Nov. 8. Pending sales of existing U.S. houses unexpectedly jumped by a record 10 per cent in October. The increase in the number of Americans signing contracts to buy previously owned homes followed a 1.8 per... |