Cement News tagged under: corporate
BBMG to buy 61% stake in Tianjin producer01 September 2009, Published under Cement NewsBBMG Corporation said it has signed a non legally-binding memorandum of understanding on 30 August 2009, with its 45.27% holding shareholder, BBMG Group, to acquire the 60.64% equity interest in Zhenxing Cemen at Rmb395 million. |
Cemex ratings will continue to improve, analyst says01 September 2009, Published under Cement NewsStandard & Poor’s (S&P) has reviewed its creditwatch on Cemex’s national and international ratings, upgrading them from developing to positive, S&P reported in a release. It is likely the rating will be upgraded again in the near future, Mexico City-based financial group IXE analyst Patricio Rivera told BNamericas. "With the recent refinancing and sale of assets in Australia, the company’s financial outlook has been improving in a stable manner and it’s likely that the rating will go up ag... |
China Resources Cement to sell 1.64bn shares01 September 2009, Published under Cement NewsChina Resources Cement Holdings Ltd. plans to sell 1.64 billion shares in an initial public offering next month ahead of a Hong Kong listing slated for Oct. 3, according to a term sheet seen by Dow Jones Newswires on Monday. The cement producer, a unit of state-owned conglomerate China Resources (Holdings) Co., has an option to sell an additional 245.7 million shares depending on demand, the term sheet said. It didn’t say how much the company aims to raise. The company plans to open the o... |
ACC to raise US$62m bonds, loans-sources01 September 2009, Published under Cement NewsACC Ltd is looking to raise about INR3bn (US$61.5m) via bonds or loans or a combination of both, banking and company sources said on Monday. The company, in which Holcim holds more than 46 per cent, has written to banks asking for quotes on five- and seven-year bonds and loans, three banking sources said. A final decision will most probably take a week, the banking and company sources said. |
KHD appoints new COO30 August 2009, Published under Cement NewsKHD Humboldt Wedag International Ltd (KHD) announced that its Board of Directors has appointed James Purkis as Chief Operating Officer. Mr. Purkis replaces Mr. Jouni Salo who remains KHD’s Chief Executive Officer and President. Mr. Purkis joined KHD on June 1, 2008 as the President of the Construction Division and was named Executive Senior Vice President on November 1, 2008. |
Arkan Building Materials’ 100m Shares to be unlocked28 August 2009, Published under Cement NewsAfter the expiry of a two year lock-in period on Tuesday, 100 million shares of Arkan Building Materials Company, also known as Arkan, handed out to widows and low income people by the Government of Abu Dhabi, have been allowed to be traded on the Abu Dhabi Exchange, or ADX, from today. The government allocated the shares of the company, which it created after merging the cement and concrete blocks manufacturing factories in Abu Dhabi, managed by the General Holding Company, the industrial ... |
Controlling Shareholder raises stake in Anhui Conch Cement28 August 2009, Published under Cement NewsAnhui Conch Cement Co Ltd, announced that its controlling shareholder, Wenzhou Conch Group Co, bought 978,382 A shares of the company yesterday, accounting for 0.06% of Anhui Conch’s total equity, sources reported. After the deal, the group would hold 630 million shares of Anhui Conch, raising its stake in the latter to 35.72%. The Capital Group Companies Inc recently cut its H-share holding in Anhui Conch to 5.7% from the previous 6.04%, according to an earlier report from China Knowled... |
Prosperity: proposed transfer of shares, Hong Kong27 August 2009, Published under Cement NewsProsperity Minerals Holdings Limited which operates a cement manufacturing business in the People’s Republic of China (PRC) and an iron ore trading business serving the same market, today provides an update regarding the proposed transfer of shares of Mr. Wong Ben Koon, Chairman and Chief Executive Officer of Prosperity, previously announced on 16 April 2009 and 24 July 2009, which is being undertaken in order to consolidate Mr. Wong’s cement industry interests. Prosperity has been notifie... |
Readymix posts EUR6.9m losses27 August 2009, Published under Cement NewsReadymix has reported a pre-tax loss of €6.9m for the first half of the year and warned that demand has continued to contract amid "exceptional weakness" in the housing and commercial construction markets. Shares in the company closed down nearly 6% yesterday after it said revenue slumped 45% to €41.6m for the six months to the end of June. Majority owned by Cemex, Readymix said in an interim trading statement yesterday that cost reduction initiatives have failed to offset a "serious reduc... |
Yanbu Cement H109 net profit down27 August 2009, Published under Cement NewsSaudi cement producer Yanbu Cement Co (YCC) registered a decline in its net profit for the first half of 2009 to SAR302.8m (US$80.7m) from SAR 317.8m a year ago. The decrease was chiefly due to lower sales during the six-month period, Yanbu Cement said without giving exact figures. The earnings per share (EPS) stood at SAR 2.88, down from SAR 3.03. The operating profit fell to SAR306m for the first six months of 2009, from SAR319.7m a year earlier. For the second quarter of 2009, the com... |