Cement News tagged under: corporate
Taiheiyo Cement limited price increase16 December 2008, Published under Cement NewsTaiheiyo Cement Corp will raise cement prices by just 10-15% this coming April, backing away from the roughly 30% increase it indicated in October, according to the latest plans unveiled by the company. The revision in the scale of the planned hikes comes with fuel costs having come down. Demand for cement remains stagnant as well. Cement is now sold for 9,600 yen to 10,000 yen per ton to large-lot customers in the Tokyo region, after prices were lifted by about 10% last April for the firs... |
Shiva Cement board approves allotment of shares16 December 2008, Published under Cement NewsRourkela-based cement company, Shiva Cement has announced that the board of directors at its meeting held on Dec.15, 2008 has approved the allotment of 1.2 million shares to Roughells Fashions at a price of Rs 11 a share (including a premium of Rs 9 a share) upon conversion of warrants. Further, the board has also approved `time extension` for conversion of pending warrants of 17.7 million nos held by ACC and 1.8 million nos held by Roughells Fashions. Time extension is subject to statutory... |
Decision looms on HeidelbergCement loan waiver15 December 2008, Published under Cement NewsLenders to HeidelbergCement AG have until the end of the day to approve a waiver request on loans backing the acquisition of UK-based Hanson in mid-2007, banking sources close to the deal said on Friday. The request, which will adjust the debt-to-EBITDA ratio covenant on the deal to 4.25 times from 4 times over a test period, would recognise the effects of currency changes on the company’s dollar-denominated debt. The one-time waiver would cover the December covenant test period. The compa... |
Gresik predicts US$00m capital expenditure in 200911 December 2008, Published under Cement NewsPresident Director of Indonesian state-owned cement producer PT Semen Gresik Dwi Soetjipto has predicted the company’s capital expenditure will reach US$300m next year. "The capital expenditure of Semen Gresik is predicted to reach US$300 million next year. The company at present has relatively good liquidity," Soetjipto said here on Thursday. He said that 2009 and the on-going global financial crisis were considered to be the right time to make investments. It was expected that investment... |
Cemex swaps paper for longer-term debt11 December 2008, Published under Cement NewsCemex said on Wednesday that it had swapped commercial paper for longer-term debt, extending the maturity in a crucial test of its ability to refinance debt. Cemex said in a statement it issued debt maturing in 2011 worth 124,817,100 of Mexico’s inflation-pegged units, known as UDIs. |
Vietnam: More cement makers to list on HOSE11 December 2008, Published under Cement NewsThe Ho Chi Minh City Stock Exchange (HOSE) has approved Ha Tien 2 Cement JSC to list 88 million shares on the bourse. The company, based in Kien Giang Province, has a charter capital of VND88 billion ($5.23 million) and specialises in producing cement and other kinds of building material, as well as quarrying and processing limestone and clay. |
Mandiri ready to provide Gresik loan10 December 2008, Published under Cement NewsIndonesia’s largest lender PT Bank Mandiri said it was ready to provide Rp7 trillion (US$700m) to state-owned cement maker PT Semen Gresik, to fund its plans to build a new US$1.5bn cement factory. Other financers including a syndicate of the Hong Kong and Shanghai Bank, the Royal Bank of Scotland, BNP Paribas and Bank DBS, have also indicated their interest in becoming the financer of the project, a bank executive told the newspaper Bisnis Indonesia. Semen Gresik vice president Heru D. A... |
Holcim Indonesia hopes to receive US$150m IFC loan10 December 2008, Published under Cement NewsPT Holcim Indonesia said it hopes to have a disbursement of a US$150 million loan from the International Finance Corporation (IFC) in 2009. Rusli Setiawan, the chief spokesman of the Indonesian unit of the Swiss-based world’s second largest cement producer, Holcim Ltd, told the newspaper Investor Daily, the loan is being processed. Rusli said Holcim, which already has a cement factory in Cibinong, West Java, will need the loan to finance the construction of a new factory in Tuban, East Jav... |
Merckle makes banks new offer in debt talks10 December 2008, Published under Cement NewsGerman tycoon Adolf Merckle has made creditor banks a new offer in talks to secure fresh loans his family needs to escape a liquidity crunch, he was quoted on Tuesday as telling a German newspaper. "We submitted a new offer to banks on Monday and are still working with them to find a solution," the Frankfurter Allgemeine Zeitung quoted him as saying in an interview, parts of which were released ahead of publication on Wednesday. The Merckle family controls generics drug maker Ratiopharm, c... |
Mexico, Brazil jump after Obama outlines investment ideas09 December 2008, Published under Cement NewsBrazilian and Mexican stocks surged Monday, propelled by gains in commodity stocks on the prospect that demand for natural resources will increase if the United States embarks on a massive infrastructure program. Brazil’s Bovespa rose 8.3% to 38,284.91, erasing last week’s total loss of 3.4%. Mexico’s IPC index ended 5.4% higher at 21,168.72. The index of the 35 most actively-traded stocks fell 2.2% last week. U.S. President-elect Barack Obama on Saturday said that he planned to launch th... |