Cement News tagged under: corporate
Taiwan’s Asia Cement plans US$250m exchangeable bonds issue18 December 2007, Published under Cement NewsAsia Cement Corp (1102.TW) said its board of directors has approved the sale of US$250m of exchangeable bonds. The underlying securities for the 5-year, zero-coupon debt instrument are Asia Cement’s holdings of common shares of Far Eastern Textile Ltd or U-Ming Marine Transport Corp, it said in a filing with the stock exchange. Proceeds will be used to finance overseas procurement of materials and for domestic investments, it added. |
CEMEX Provides Guidance for the Fourth Quarter of 200717 December 2007, Published under Cement NewsCemex expects EBITDA for the quarter ending December 31, 2007 to be close to US$1,100 million, an increase of about 18% versus the same period last year, while operating income is expected to be close to US$650 million, 6% higher than the same period a year ago. Guidance for operating income excludes potential adjustments due to the revaluation of Rinker’s assets. Cemex expects sales of about US$5.8 billion, an increase of around 30% versus the same period a year ago. For the full year ... |
Lafarge sets Jan 18 EGM on Orascom, board seats17 December 2007, Published under Cement NewsLafarge will hold an extraordinary general meeting (EGM) on January 18 to approve a capital increase that is part of its agreed takeover of Egypt’s Orascom Cement. Shareholders will also vote on the nomination of three new board places – two for Groupe Bruxelles Lambert (GBL), the investment arm of Albert Frere and Paul Desmarais and Lafarge’s biggest shareholder, and one for Nassef Sawiris, the majority shareholder of Orascom Construction Industries . In a statement, Lafarge ... |
South Valley Cement to increase capital13 December 2007, Published under Cement NewsThe BOD of South Valley Cement (SVCE.CA) has decided on its meeting, held 08/11/2007, to invite shareholders to a rights issue to increase the companys capital from LE 1,478,766,905 to LE 2,218,150,355; implying an increase of LE 73, 938, 3450, distributed over 147,876,690 shares at LE 5 Par Value and without issuance fees, each shareholders has the right to subscribe to 50 % of his/her original shares. The capital increase proceeds will be allocated to Beni Suef cement plant, and contr... |
Holcim South Africa Buy Backed By Roughly EUR1B Bonds-Sources13 December 2007, Published under Cement NewsThe buyout of South Africa-based cement producer Holcim South Africa will be backed by roughly EUR1bn worth of high-yield bonds, people familiar with the situation told Dow Jones Newswires. Black-empowerment consortium AfriSam Consortium (Pty) acquired a majority stake in Holcim this year. Holcim Switzerland announced in August 2006 that it was selling 85% of its 54% stake in the local cement producer to AfriSam based on an enterprise value of ZAR16.4 billion. Earlier this year, c... |
China’s Sinoma Raises $538 Million in Cement IPO13 December 2007, Published under Cement NewsChina National Materials Co., the world’s largest provider of cement engineering services and equipment, raised HK$4.19bn ($538 million) in a Hong Kong initial stock sale, people familiar with the matter said. The Beijing-based company, also known as Sinoma, sold 931.7 million shares at HK$4.50 apiece, said the two people, declining to be identified before an official statement. The price was at the top of a range marketed to investors. Hong Kong individuals ordered 266 times the number of... |
Burnpur Cement IPO subscribed 15.19 times13 December 2007, Published under Cement NewsThe initial public offer of Burnpur Cement Limited (BCL), one of the established cement manufacturers of Eastern India, has been subscribed 15.19 times. The company has received applications worth Rs. 399.11 crores against the IPO of Rs. 26.28 crores. The Company had offered its shares of Rs 10 each for cash at a premium of Rs 2 per share. As a part of its expansion plans, Burnpur Cement has proposed a backward integration by setting up an 800 TPD capacity Clinkerisation and Cement grind... |
Vietnam Bim Son Cement to sell 4.27M shares On Dec 2512 December 2007, Published under Cement NewsBim Son Cement Joint Stock Co. Wednesday said it plans to sell 4.27 million existing shares - equivalent to a 4.74% stake - on December 25. The company, which has a registered capital of VND900bn ($55.8m), will sell its shares via auction at the Hanoi Securities Trading Center. The shares will be offered to local and foreign investors at an initial price of VND35,000 each. Currently, 49% of the company is owned by foreigners. Bim Son Cement will use the sale proceeds to e... |
GBL ready to up Lafarge stake to 20-30 per cent12 December 2007, Published under Cement NewsGroup Brussel Lambert said Tuesday it was ready to increase its stake in Lafarge to 20-30 per cent over time, a day after the French company announced a deal to buy Egypt’s Orascom Cement. GBL currently holds 17.4 per cent of Lafarge and "over time could increase this to between 20 and 30 per cent," said Paul Desmarais, a Canadian who runs GBL with Albert Frere of Belgium. "The acquisition of a leading Egyptian group is a decisive opportunity to accelerate our profitable growth strategy in... |
Peru’s Cementos Lima sees 2007 sales up 13-4%11 December 2007, Published under Cement NewsPeru’s largest cement producer, Cementos Lima SA, expects its sales to be between 13% and 14% higher this year than last year, director general Carlos Ugas said. He also said growth of between 10% and 12% is expected to continue for at least two more years. His made the comments in an interview published by the company on the Web site of the Peruvian securities regulatory agency Monday. Cementos Lima said cement production in 2006 totaled 2.58Mt. For the first three quarters ... |