Cement News tagged under: corporate
Zimbabwe: renamed Circle Cement to start trading on ZSE18 January 2008, Published under Cement NewsCement manufacturer Circle Cement Limited will start trading on the Zimbabwe Stock Exchange as Lafarge Cement Zimbabwe Limited with effect from Monday next week. This follows the name change of Circle Cement to Lafarge Cement Zimbabwe Limited in June last year to reflect its majority ownership by Lafarge of France. In a statement, the company said: "Further to previous circulars and Press releases regarding the change of company name, the board is pleased to announce that the company has s... |
Italy Cementir Increases Board Members16 January 2008, Published under Cement NewsThe shareholders’ meeting of Italian cement group Cementir, a unit of local construction company Caltagirone, increased its board members to 15 from 13, the company said. The shareholders’ meeting also approved the change of the company’s name to Cementir Holding Spa from Cementir- Cementerie del Tirreno. The Chief Executive Officer (CEO) of Italian grid operator Terna Flavio Cattaneo and Fabio Corsico entered the board of directors, while Massimo Confortini replaced Luciano Leone. ... |
HeidelbergCement’s decision to implement capital increase16 January 2008, Published under Cement NewsThe Managing Board of HeidelbergCement AG has resolved, subject to the consent of the Supervisory Board, to make use of the authorised capital and to implement a cash capital increase with a view to strengthen the company’s equity base. VEM Vermögensverwaltung GmbH, Dresden/Germany, a Merckle group company, will subscribe new shares at a close to stock market subscription price. The new shares are entitled to receive dividends for the entire business year 2007. The subscription rights fo... |
Analysis: Holcim likely to buy next as sector consolidates15 January 2008, Published under Cement NewsHolcim was conspicuously absent from a round of industry consolidation in 2007, but its big cash pile means it could acquire a rival in the coming months, according to analysis from Reuters. Holcim, the world’s second-largest cement maker, is likely to focus on acquisitions rather than return cash to shareholders as it uses its strong balance sheet to bolster its position in emerging markets, without having to take on major amounts of debt in the process, analysts say. " Holcim has ... |
Australia’s ANZ Bank, Calyon fund Vietnamese cement project14 January 2008, Published under Cement NewsAustralia and New Zealand Banking Group Ltd and Calyon yesterday committed US$96.4m to the Ha Tien 2.2 Cement Production Line project. Total investment capital is estimated at US$190m, of which equity accounts for 20 per cent and loans 80 per cent. ANZ and Calyon are equally financing the loan. The loan term is 13 years, which includes a grace period. However, the duration of the grace period and the interest rate were not released. Ha Tien No 2 Cement Company will use the loan to fi... |
Siam Cement 4Q07 earnings will continue weak14 January 2008, Published under Cement NewsSiam Cement (SCC) is expected to report a disappointing 4Q07 normailised earnings of just Bt5,009mn (EPS Bt4.17), down 11% qoq but stable yoy. These poor results will be due to the weakness in all business areas; petrochemicals, cement, building materials and paper. This is mainly caused by higher raw material costs, higher naphtha costs in petrochemicals and higher pulp and waste paper prices in the paper business. In addition, all SCC businesses have been hurt by higher energy prices and t... |
HeidelbergCement trends lower report chartists11 January 2008, Published under Cement NewsHeidelberg Cement AG hit a 52-week low of €90.01 during the day. In the last three months the stock has hit a new 52-week low five times, pointing to a downtrend. The stock fell for a fifth consecutive day on Thursday. The share price dipped 33.0 €cents (or 0.4%) to €91.84. Compared with the DAX Index which fell 69.6 points (or 0.9%) on the day, this represented a relative price change of 0.5%. The price plunged 7.9% in the last week and crashed 18.5% in the last month. This has been exacer... |
Readymix buys limestone reserves11 January 2008, Published under Cement NewsIrish cement maker Readymix PLC, part-owned by Cemex said it has acquired limestone mineral reserves in County Offaly from the Tullamore Co for €12.75m in cash. |
Kryvyi Rih Cement Expands Board11 January 2008, Published under Cement NewsThe shareholders of Kryvyi Rih Cement, one of the five biggest cement producers located in Dnipropetrovsk region, Ukraine, at a meeting on January 9 extended the board from five to six members. The shareholders appointed Ihor Kublytskyi as board member. Kublytskyi works as finance director at HeidelbergCement (Ukraine). The shareholders also reelected board chairman Wieslaw Adamcik for another term, and reelected board members Ivan Kozurak, Petro Hryhorchuk and Iryna Yefymchuk. The appointm... |
Texas Industries: commissioning delays in California11 January 2008, Published under Cement NewsIn its first half of its financial year to the end of November, Texas Industries managed to improve its turnover by 2.8% to US$531.9m. The results, however, were considerably distorted by exceptional items and declined by 19.3% to US$68.7m at the pre-tax level, in spite of the elimination of net interest payments because of the capitalisation of the interest expense incurred on the investment in the cement production facilities both in California and in Texas. Delays in the commissioning p... |