Cement News tagged under: corporate
India: Niraj Cement’s IPO subscribed fully02 June 2008, Published under Cement NewsThe IPO of Niraj Cement Structurals Limited has received total bids for 56.57 lac equity shares and was subscribed 1.74 times by 5.30pm on the closing day. The Company, an engineering and construction company focusing on road construction development, had entered the capital markets on 26th May 2008 with a public issue of 32,50,000 Equity shares of Rs 10 each in the price band of Rs 175 to Rs 190. The Issue would constitute 31.42% of the total post issue paid-up equity capital of the Company... |
Taiwan Cement unit gains TWD270.38m on sale of Anhui Conch Cement H-shares30 May 2008, Published under Cement NewsTaiwan Cement Corp said its unit TCC International Ltd booked a gain of TWD270.38m on the sale of a total of 1.11m H-shares of China’s Anhui Conch Cement Co Ltd. The sales were conducted during May 19-29 at an average price of TWD283.58/share, Taiwan Cement said in a filing with the Taiwan Stock Exchange. The latest sale reduced the unit’s holdings to 11.62 per cent in Anhui Conch’s H-shares, or 50.33m shares, accumulated at a cost of TWD10.47bn, it said. |
PCA Appoints Prentice as Vice President30 May 2008, Published under Cement NewsThe Portland Cement Association (PCA) named John M. Prentice to the newly created position of vice president of industry liaison. Prentice will be responsible for coordinating the alignment of regional and national programs. Key to those activities will be the successful alignment of the Regional Promotion Groups (RPGs) into PCA. Additionally, he will serve as liaison between PCA and major national allied associations. |
Thailand’s TPI Polene (TPIPL): off the hook? Questions remain30 May 2008, Published under Cement NewsTPI Polene (TPIPL) informed the SET yesterday that the special public prosecutor of the Office of the Attorney General said TPIPL did not have to pay a Bt6.9bn fine in an alleged share manipulation case until a final court judgement is issued. As the prosecutor is the representative filing this case against TPIPL, his opinion indicates the Appeals Court may cease the legal execution of the judgement. TPIPL on March 18, 2008 filed a motion with the Criminal Court requesting it to cease the ... |
Haver & Boecker establishes subsidiary in Ras Al Khaimah, UAE30 May 2008, Published under Cement NewsHaver & Boecker has announced the establishment of subsidiary office in the United Arab Emirates. This new office is located in the northernmost emirate of Ras Al Khaimah, 90 km from Dubai. Haver Middle East (HME) will not only act as the contact-partner for the area customers, but also for the Haver business units and Haver Group members. HME will vigorously promote the activities of the entire HAVER Group in the surrounding region. The office is managed by Matthias Kügeler, who is support... |
Moody’s assigns a Baa1 rating to Holcim30 May 2008, Published under Cement NewsMoody’s Investors Service has today assigned a Baa1 issuer and senior unsecured long-term debt rating to Holcim Ltd and the guaranteed issuers under the European Medium Term Note Programme. The outlook for the ratings is stable. "Holcim’s Baa1 rating reflects the company’s industry-leading geographical diversification with strong revenue contribution from all continents and a relatively low dependence on its domestic and neighbouring markets in Europe, which only account for 37% of Holc... |
Argos borrows US$150m to part finance new plant, Colombia28 May 2008, Published under Cement NewsColombia’s largest cement company Cementos Argos SA has borrowed US$150m from the Andean Development Corp and China Development Bank to finance part of its new cement plant in the Caribbean port of Cartagena, the company said Tuesday in a statement. Andean Development Corp., known as CAF, and the state-owned Chinese bank will each lend $75m, the statement said. The loan is part of the financing for the construction of the $300m Cartagena plant, which will start operations in mid-2009. ... |
Cement Hranice profit up, Czech Republic27 May 2008, Published under Cement NewsCement Hranice netted Kc859.1m last year, an improvement from Kc763.1m net profit in 2006, and sales rose by Kc424.5m on the year to Kc2.14bn, the company announced. Last year’s sales grew on higher building output in the Czech Republic and in Slovakia that resulted in a marked growth in cement consumption. Domestic sales increased by 12 per cent and sales in Slovakia soared more than 40 per cent. "Value added could not copy the growth rate of sales due to a big growth in prices of ele... |
Kuwaiti Hilal Cement net profit down27 May 2008, Published under Cement NewsThe net profit of Kuwaiti cement producer Hilal Cement declined to KWD669,307 (US$2.5m) in the first three months of 2008 from KWD981,908 (US$3.7m) in the corresponding period a year earlier. Earnings per share (EPS) stood at 12 fils (US$0.045) in the first quarter of 2008, compared with 17 fils (US$0.064) a year ago. In April 2008, Hilal Cement said it had acquired 100 per cent in a local ready-mix concrete producer for KWD3.2m (US$12.1m). A month earlier, Hilal Cement bought 100 per ... |
Egypt’s CMA approves Torah Cement stock split27 May 2008, Published under Cement NewsEgypt’s Capital Market Authority said on Sunday it agreed to Torah Portland Cement’s plan for a two-for-one share split, which would take the total number of shares in the company to 47.68 million. The move would reduce the par value of the stock to 5 Egyptian pounds ($0.93) per share from 10 pounds. Torah Cement is a subsidiary of Suez Cement SUCE.CA, which is itself majority owned by Italy’s Italcementi and currently has 23.84 million shares with a market capitalisation of E£3.62bn. |