Cement News tagged under: corporate
India Cements in the spotlight26 December 2007, Published under Cement NewsLeading foreign funds such as Fidelity, ABN Amro, HSBC, Nomura Asset Management Fund and Emerging Market Fund have together bought around 7.5% in India’s third-largest cement firm India Cements (ICL) for Rs 592 crore (US$150m) These funds have bought the shares in a placement done by the company to qualified institutional buyers (QIBs). ICL issued 20.78 million shares at Rs 285 per share, including premium, to these QIBs. ABN Amro Securities (India) and Deutsche Equities India were the jo... |
Malaysia’s buoyant building sector24 December 2007, Published under Cement NewsThe building materials sector has bright prospects going forward boosted by a rise in construction activities from the implementation of the Ninth Malaysia Plan (9MP) projects. Lafarge Malayan Cement Bhd and Cement Industries of Malaysia Bhd were two of the local stocks to watch as potential beneficiaries of the 9MP. The sector also received a boost when the Government adjusted the ceiling price of cement last December. In addition, the automated pricing mechanism to take effect from Jan ... |
EIIC to build cement factory in Abu Dhabi24 December 2007, Published under Cement NewsEmirates International Investment Company (EIIC) is to establish a US$408 million (AED1.5billion) clinker-cement factory in Abu Dhabi. Construction of the factory will commence in January and will be built across three phases within three years. The factory is expected to be ready for production by the end of 2010. |
India Cements plans pref issue to QIBs21 December 2007, Published under Cement NewsIndia Cements plans to issue equity shares to qualified institutional buyers to raise Rs 592.50 crore, according to information provided by the company to the stock exchange. The company, which last week obtained shareholders approval for the issue, will offer 207.89 lakh equity shares of Rs 10 at Rs 285 a share with premium totalling Rs 592.50 crore ($150 million). After allotment, the paid-up capital will increase to Rs 281.16 crore from Rs 260.37 crore now. The company recently ... |
Titan Cement CFO Howard Prince-Wright Resigns21 December 2007, Published under Cement NewsTitan Cement SAsaid Thursday that Chief Financial Officer Howard Prince-Wright has resigned and will leave the company in March 2008 after a six-year tenure. The company didn’t name a successor or give a reason for the resignation. |
China’s Huaxin Cement shareholders approve revised pricing for Holcim issue20 December 2007, Published under Cement NewsHuaxin Cement Co Ltd said its shareholders have approved a revision in the pricing of new shares to be issued to Holchin BV, a wholly-owned unit of Holcim. On March 7, 2006, Huaxin announced plans to issue 160m A-shares to Holchin BV, making Holchin its largest shareholder. The price was set at no less than 90 per cent of the average stock price in the 20 trading days prior to the announcement. |
Schurovsky Cement highlights Russian price gains19 December 2007, Published under Cement NewsNine month 2007 revenue levels at Shurovsky Cement have moved up 72.2 per cent to US$94.3m while estimated EBITDA has increased by a healthy 135 per cent to US$45.9m and net profit has grown 126 per cent to US$32.3m according to CentreInvest Group, Moscow. Net margins are recorded at 36.1 per cent and EBITDA margins at close to 50 per cent for the whole year. This small Russian cement producer based near the city of Kolomna in the Moscow region has lifted sales from 1.05Mt in 2005 to an es... |
UAE UCC plans to raise stake in RAK Energy to 35 per cent19 December 2007, Published under Cement NewsUAE Ras al-Khaimah’s Union Cement Company (UCC) targets to raise its holding in Ras al-Khaimah Energy (RAK Energy) to 35 per cent from the current 10 per cent, local media reported. Following a decision of the board of directors, UCC plans to acquire 175 million RAK Energy shares for a total price of AED175m (US$47.7m). The cement firm bought 10 per cent in RAK Energy, which has a capital of AED500m (US$136.3m), in October. UCC board has also decided to appoint Abdullah al-Sayy... |
South Valley Cement to get $212.182 million loan18 December 2007, Published under Cement NewsThe BOD of South Valley Cement has endorsed the credit facility agreement that will be financed by a group of banks, and also approved increasing its value from $ 130 million to $ 212.182 million. The proceeds will finance the new cement factory licenses fees, and also the establishment of a new electric power station. |
FLSmidth appoints new cement R&D manager18 December 2007, Published under Cement NewsDanish FLSmidth has appointed Kimmo Vesamäki to the position of Vice President, Research & Development for FLSmidth’s global cement activities, effective 16 April 2008. This is part of FLSmidth’s strategy to strengthen efforts and results of R&D activities in both Cement and Minerals units. Vesamäki comes from a position as Vice President, Product Management & Engineering, Construction - Contractor Solutions, for Finland-based Metso Minerals. |