Cement News tagged under: corporate
Citadel cuts back on ASEC09 December 2009, Published under Cement NewsCitadel Capital a leading private equity firm in the Middle East has announced it has partially exited ASEC Holding, a regional cement production, construction and engineering firm. Citadel sold a 6% stake in ASEC Holding and a further 6% in United Foundries to the Emirates International Investment Company (EIIC) in a deal worth US$55m. EIIC a regional investor based in Abu Dhabi, is a long-time limited partner in a number of Citadel Capital’s OSFs and is a Citadel Capital shareh... |
Taiheiyo Cement downgrades FY net profit forecast08 December 2009, Published under Cement NewsTaiheiyo Cement Corp decreased full-year net profit forecast from JPY8.5 billion to a loss of JPY4.5 billion after worsening net loss from JPY7.3 billion to JPY8 billion for the half-year to September 30, 2009. Revenue was down 16.6% to JPY357.9 billion. Operating profit fell from JPY4.5 billion to a loss of JPY1.7 billion and ordinary loss worsened from JPY3.4 billion to JPY4.3 billion. Full-year revenue forecast is down 10.1% to JPY737 billion to March 31, 2010. |
Lafarge sells EUR750m of debt as rates fall08 December 2009, Published under Cement NewsLafarge SA sold EUR750m (US$1.1bn) of 10-year notes, bringing its borrowing in the bond market this year to EUR3.3bn as the world’s biggest cement maker took advantage of falling yields. The company offered the 5.5 per cent securities at a yield of 220 basis points more than the benchmark mid-swap rate, according to data compiled by Bloomberg. That’s about half the 430 basis-point spread the Paris-based company paid to sell seven-year notes in June, Bloomberg data show. Lafarge is issuing ... |
Cemex’s debt costs to rise in bond sale08 December 2009, Published under Cement NewsCemex Chief Executive Officer Lorenzo Zambrano is ready to pay higher rates to avoid spending limits imposed by banks in a $15 billion loan restructuring, according to RBS Securities Inc. and Actinver SA. The seven-year dollar bonds that Monterrey, Mexico-based Cemex plans to sell this week probably will yield more than nine per cent, RBS and Actinver said. That tops the average rate of about six per cent that Cemex says it’s paying on the loans the company renegotiated August to avoid defa... |
Cementos Portland sells stakes in three South American firms07 December 2009, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas disposed of its stakes in three South American companies for some EUR 137.2m (USD 205.1m), the company told the national stock market regulator CNMV. Cementos Portland sold its shareholdings in Argentine cement producers Cementos Avellaneda and Minus Inversora as well as in Uruguay-based Cementos Artigas. The buyer is Brazilian cement producer Votorantim. In fact, the deal with Votorantim was inked by Cementos Portland’s subsidiary Un... |
Cemex seen issuing US$1bn in 7-Year bonds04 December 2009, Published under Cement NewsCemex SAB de CV will likely issue at least $1 billion in seven-year bonds offering a yield around 10% when it prices its deal next week, market watchers say. The company is meeting with investors around the U.S. this week and ending its roadshow Dec. 8, when analysts expect the new deal to price. Tuesday, Cemex said in a shelf filing with the Securities and Exchange Commission that it intends to bring to market a benchmark-sized, seven-year bond offer. Proceeds from the offering will go to... |
Buzzi Unicem successful bond issue03 December 2009, Published under Cement NewsBuzzi Unicem has successfully completed its bond issue for the total of EUR350m with a seven year redemption period. The compant made the announcement, specifying that the operation, arranged by Banca Imi and Deutsche Bank, has collected adhesions totalling 2.2 times the supply |
FCC plans bond placement in early 201003 December 2009, Published under Cement NewsSpanish construction company Fomento de Construcciones y Contratas SA expects to carry out a bond placement in early 2010, the company’s Chairman Baldomero Falcones said at a press conference Thursday. He didn’t detail what the amount of the placement will be. FCC recently has issued EUR450 million in convertible bonds and increased the capital of its cement unit Cementos Portland Valderrivas SA by EUR200m. |
Titan Cement recognised as top company for leaders02 December 2009, Published under Cement NewsTitan Group, parent company of Titan America, was ranked number one in Europe and eighth in the world for 2009 in the prestigious “Top Company for Leaders" study, receiving a global distinction regarding the development of human capital and leadership competencies. This ranking is the outcome of one of the most comprehensive studies of organizational leadership in the world, conducted by Hewitt Associates in partnership with The RBL Group - a strategic HR and leadership systems advisory fir... |
Taiwan Cement signs MoU to buy Prosperity Minerals unit02 December 2009, Published under Cement NewsTaiwan Cement Corp said Monday it signed a memorandum of understanding with Prosperity Minerals Holdings Ltd to buy its Upper Value Investment Ltd. unit for HK$4bn. Taiwan Cement said it signed the MOU through its TCC International Holdings Ltd unit, and expects to sign a final agreement before the end of the year. Prosperity Minerals has a cement manufacturing business and an iron ore trading business in China. It said in a separate statement Monday it entered into an MOU with TCC Interna... |