Cement News tagged under: corporate
Birla group cement output down 8.3 per cent in Nov05 December 2007, Published under Cement NewsThe Aditya Birla Group Cement production in November has fallen 8.30 per cent to 2.34Mt against 2.52Mt in October. Consequently, dispatches have dipped 10 per cent to 2.29Mt against 2.55Mt in October. “UltraTech faced workers unrest at its Awarpur (in Chandrapur district of Maharashtra) unit, but I’m not sure how much impact it had on the company’s performance,” said cement analyst with a broking firm. Attempts to reach company officials failed. The stalemate at Ultratech Cement Works plan... |
Huaxin Cement to sell shares at higher price to Holchin05 December 2007, Published under Cement NewsHuaxin Cement Co., Ltd, a listed cement producer based in Huangshi City, Hubei Province, Central China, determined to raise the share selling price to Holchin B.V., an unit wholly owned by Holcim Ltd., which is one of the largest cement manufacturers around the world. On March 7, 2006, Huaxin Cement made the preliminary decision to introduce Holchin as its strategic investor and sell shares no less than 120% of the average prices in the past 20 trading days since the board announced the new... |
Slowdown in US prompts rethink for CRH05 December 2007, Published under Cement NewsCRH has scaled down immediate ambitions for its US expansion by acquiring only a fraction of the US$3.5bn US$4.5bn (Pounds 1.45bn-Pounds 1.9bn) assets it had discussed buying from Cemex of Mexico. CRH pointed to the credit squeeze and the slowdown in the US housing market as factors behind its failure to agree a price. Liam O’Mahony, chief executive, said: "Clearly there was a recognition that the short-term outlook had an influence on the price we were prepared to pay. There is nothing ta... |
Holcim hikes Indian Ambuja Cements stake by about 13 pct to 46 per cent04 December 2007, Published under Cement NewsHolcim said it has expanded its stake in Indian cement maker Ambuja Cements by around 13 pct to 46 pct. The Swiss cement maker said the transaction corresponds to a total investment of 780 mln usd and is entirely financed through internal resources and existing credit facilities. Holcim had announced plans to to hike its stake in August. |
Holcim Indonesia upgraded to ’buy’; target price raised by 166 per cent04 December 2007, Published under Cement NewsPT Holcim Indonesia has been upgraded to a "buy" from "hold", with the stock’s target price raised by 166 per cent as the Indonesian cement company is likely to reap bigger-than-expected profits this year, Trimegah Securities said. Holcim Indonesia, the third biggest cement maker in the country, is 77.3 per cent owned by Switzerland’s Holcim. Trimegah said it has raised its target price for the stock to 2,100 rupiah from 790 rupiah. As of 3:00 pm, the stock was up 30 rupiah or 1.8 per cent... |
Semen Gresik Director Resigns03 December 2007, Published under Cement NewsA director of PT Semen Gresik Tbk has filed his resignation plan to the company’s board and the company plans to arrange extraordinary general meeting of shareholders on December 10 2007. Semen Gresik President Commissioner Rizal Ramli refuted that the company’s president director Dwi Sutjipto has resigned. He said it is other director who has resigned but he declined to mention the name. "He has sent resignation letter to commissioner. It’s a secret. Please ask Pak Sofyan on that. We will... |
Sinoma places shares to six investors03 December 2007, Published under Cement NewsChina’s largest cement production equipment manufacturer China National Materials Group Corporation (Sinoma) has chosen 6 investors to take up 20% stake of its international placement, says market source. The source disclosed that the 6 basic investors are China Life Insurance, Government of Singapore Investment Corporation (GIC), Leslie Lee Alexander-owned Grahamstowe Investment, Industrial and Commercial Bank of China (ICBC), China Communications Construction and Citigroup. These investor... |
Italcementi adds 1.1 per cent on low volume, rising for a seventh straigh day03 December 2007, Published under Cement NewsItalcementi added 16.0 €cents (1.1%) to €14.14. Compared with the MIBTEL Index which rose 297.0 points (or 1.0%) on the day, this represented a relative price change of 0.1%. The volume was 0.003 times average trading of 861,185 shares. The stock advanced for a seventh straight day on Friday. |
CRH in €170m Florida deal03 December 2007, Published under Cement NewsCRH has acquired ready-mixed concrete businesses in Florida from cement giant Cemex in a deal worth US$250m (€170m, writes Richard Curran. The acquisition follows months of negotiations on the possibility of buying a much larger group of assets from Cemex which could have amounted to around $3 billion to $4 billion. However, in a statement issued late last Friday, CRH said that the negotiations it had been involved in since September had yielded this smaller deal and the wider talks had now... |
Huaxin halts trading, mulls foreign proposal03 December 2007, Published under Cement NewsAccording to China Knowledge Press, Huaxin Cement Company Limited is reportedly considering an investment offer from an overseas company and has stopped stock trading temporarily. The Huangshi-based manufacturer, with market capitalisation of US$1.06bn, counts Swiss cement maker Holcim as its largest stakeholder at 26.1 per cent share. As the world’s second-largest cement producer, Holcim has branches in over 70 countries and reported sales of 23 billion Swiss Francs in 2006. Last year, Hu... |