Cement News tagged under: corporate
Cemex given extension for divesture of US assets23 November 2007, Published under Cement NewsAccording to the US Department of Justice’s web-site, Cemex has being given a 21-day extension for it to divest of its 39 rmc, concrete block and aggregates facilities in Florida and Arizona, following its acquisition of Rinker. These are among a series of assets that CRH is currently in negotiations with Cemex on (split approximately 80% US and Europe 20%) and depending on the agreed deal the consideration range given by management was €2.5-3.2bn. In a report issued on CRH last week (“Re... |
Lafarge Cement Russia net profits up 93%23 November 2007, Published under Cement NewsIn 3Q2007, net income of Moscow-based Lafarge Cement rose by RUR304,598,000, or 93%, compared with the second quarter of 2007. According to the company’s official statement presented to State authorities SKRIN, in July-September 2007 its net income totalled RUR631,916,000 versus RUR327,318,000 net income in April-June 2007. The growth of net income was due to company reorganization through the accession of Uraltsement, as well as an increase in prices for the products made by the company ... |
Cemex Irish Readymix makes €11.5m acquisition23 November 2007, Published under Cement NewsCemex Irish Readymix makes €11.5m acquisition Irish Cement manufacturer Readymix has paid €11.5m in cash to acquire Tipperary-based firm Denis Tarrant & Sons. An aggregate and ready-mixed concrete producer, Denis Tarrant reported turnover last year of €8.1m and recorded a profit of roughly €400,000 on earnings before interest, tax, depreciation and amortisationof €1.8m. The company is owned by Denis, Miriam and William Tarrant, and had net assets of €4.8m at the end of last year. Readymix, ... |
SCG changes focus in Philippines23 November 2007, Published under Cement NewsSiam Cement Group (SCG), one of the largest conglomerates in the region, is freezing investment plans for new projects in the Philippines, saying it will focus more on mergers and acquisitions. The Daily Tribune quoted SCG Paper president Chaovalit Ekabut as telling Philippine media that the company’s vision of becoming a leading company in the region depended on important strategies that may involve investing more in new projects in countries other than the Philippines. Chaovalit explaine... |
Hoang Mai Cement to issue shares23 November 2007, Published under Cement NewsThe Hanoi Securities Trading Centre on November 30 will auction nearly 17.8 million shares in Hoang Mai cement company with a face value of VND10,000 per share. The initial price will be VND15,000. The company has a charter capital of VND850 billion (US$53 million). Investors have until Thursday to register to buy shares. - VNS |
JK Lakshmi comes out of debt restructurin23 November 2007, Published under Cement NewsJK Lakshmi comes out of debt restructuring India’s JK Lakshmi Cement Ltd, belonging to JK Group, today said the company has come out of the Corporate Debt Restructuring (CDR). The net profit of the company more than doubled to Rs 142 crore during the six-month period of the current year (2007-08) as compared to Rs 66 crore in the comparable period last year. The cement manufacturer has been achieving excellent performance for more than two years, it said in a filing to the Bombay Stock Exc... |
Higher profits for YTL Cement, Malaysia23 November 2007, Published under Cement NewsYTL Cement Bhd registered a higher pre-tax profit of RM76.443 million for its first quarter ended Sept 30, 2007 from RM52.696 million in the previous corresponding period. Its revenue increased to RM321.247 million from RM283.901 million |
Steppe Cement non-exec chairman sells 440,000 shares in co22 November 2007, Published under Cement NewsSteppe Cement Ltd said non-executive chairman John Richardson sold 440,000 shares in the company at an average price of UK£2.52 each and now holds 60,000 shares. |
India’s ACC says sells $52 mln surplus asset21 November 2007, Published under Cement NewsIndian cement maker ACC Ltd said on Wednesday it had sold surplus assets, including land in the northern Haryana state, for INR2.05bn (US$52m). The proceeds would be used for ongoing capital expenditure schemes, the company said in a notice to the stock exchange. |
India Cements to raise $150m to part fund capex20 November 2007, Published under Cement NewsThe board of India cements on Monday decided to raise a maximum of US$150m including premium by way of issue of equity/ equity-linked securities in the Indian/international markets. It is to part fund ICL’s fresh capex of Rs 1,500 crore and help the company become a pan-India player with two plants in the north. The company has convened an EGM on December 14 to get the approval of shareholders. Based on the guidelines, pricing will be a maximum of Rs 268 per share (Rs 10 paid up) agains... |