Cement News tagged under: corporate
China’s Huaxin Cement to issue CNY500m in 364-day debt02 July 2007, Published under Cement NewsHuaxin Cement Co Ltd said it plans to issue CNY500m worth of 364-day debt on the interbank bond market on July 5. In a statement published on the official Chinabond.com website, the company said the yield will be determined via book building. China Merchants Bank Co Ltd will be the main underwriter for the issue, the company said. |
CNBM lifts stakes in Taishan Cement29 June 2007, Published under Cement NewsChina National Building Material said its subsidiary China United has lifted its shareholding in Taishan Cement to 90% from 80%, with the acquisition price also lifting to RMB346m from previous Rmb307.18m. |
Combined revenue of Omani producers up to US$72m29 June 2007, Published under Cement NewsThe combined revenue of Oman’s two cement producers grew to OMR27.7m (US$72m) in the first quarter of 2007 from OMR21.6m (US$56.1m) in the year-ago period. The combined net profit of Oman Cement Co and Raysut Cement Co, both listed on Muscat Securities Market (MSM) reached OMR12.27m (US$32m) from OMR10m. Raysut Cement Co managed to raise its net profit to OMR7.3m (US$19m) from OMR5.09m (US$13.2m), while Oman Cement Co registered a slight increase in net profit to OMR4.95m (US$12.85m) from ... |
Gresik holders OK 1-For-10 stock split28 June 2007, Published under Cement NewsShareholders of Indonesia’s PT Semen Gresik approved Thursday a stock split plan to improve trading liquidity of the company’s shares on the Jakarta Stock Exchange. "We plan to split one existing shares to ten," Gresik’s President Director Dwi Soetjipto told reporters after a meeting of shareholders. Semen Gresik is the largest cement maker by output in Indonesia. He said that the stock split plan will be executed "soon". The Indonesian government owns 51.01% of Gresik,... |
Indonesian Gresik Likely to Pay Holding Tax26 June 2007, Published under Cement NewsPT Semen Gresik has suggested it would pay holding tax of IDR500bn due to the asset transfer dealing with the establishment of cement holding company. The company has planned to transfer the asset to the new company that will be established soon, while Semen Gresik will become holding company for PT Semen Tonasa, PT Semen Padang, and another new unit. The company planned to run assessment process before transferring the asset, and following the asset transfer Semen Gresik woul... |
Hanson says trading on track as takeover nears25 June 2007, Published under Cement NewsHanson Plc said on Monday that trading ahead of its agreed takeover was in line with its expectations, adding that it expected to see continued weakness in the United States. Hanson, the world’s largest supplier of sand and gravel for buildings, recently agreed an 8 billion pound ($15.94bn) takeover by German cement maker HeidelbergCement AG. It said that trading for the first half of 2007 remained in line with its expectations while it predicted continued weakness in the US residential ma... |
Chettinad Cement founders make open offer25 June 2007, Published under Cement NewsChettinad Cement Corp. Ltd. said on Monday one of its founders has made an open offer to acquire 13.84 per cent in the company at 450 rupees per share. The offer, which closes on September 5, would increase the founder’s stake in the company to 90 percent from 76.16 per cent and has been made through group firm Chettinad Software Services Pvt Ltd., it said. |
Vicat freefloat to be 30.4% after HeidelbergCement divestment completed21 June 2007, Published under Cement NewsVicat said the free float in its shares will be 30.4 per cent after banks fully exercised an over allotment option linked to their placing of part of HeidelbergCement AG’s stake on the market. Vicat and HeidelbergCement said last week that the Germany company had agreed to sell its 35.03 pct holding in the French husiness for 86 eur per share, raising a total of EUR1.4bn. They said the proportion of Vicat’s capital in free float would rise to 28.1-30.4 per cent from 5.1 per cent, de... |
Cemex replaces seven Rinker board members, incl chairman19 June 2007, Published under Cement NewsCemex said it has replaced seven members on building products firm, Rinker Group Ltd’s board of directors, including chairman John Morschel, with its own nominees. The move follows Cemex receiving acceptances for more than 50 per cent of Rinker’s issued capital under a 14.25 bln usd takeover offer. As of Monday it had acceptances for 59.93 per cent of Rinkers shares. After reaching the 50 per cent level, Cemex declared the offer unconditional. Cemex is the world’s third large... |
Lafarge appoints four new executive committee members18 June 2007, Published under Cement NewsLafarge has appointed four new members to the company’s executive committee. In a statement, Lafarge said Jean-Carlos Angulo, Thomas Farrell, Gerard Kuperfarb and Eric Olsen will join the executive committee from Sept. 1. These changes coincide with the retirement of Chief Operating Officer Michel Rose and Executive Vice-president Aggregates & Concrete Jean-Charles Blatz, and the departure of Group executive Ulrich Glaunach, Lafarge said. Lafarge’s new executive committee will ... |