Cement News tagged under: corporate
Holcim to build ACC, GACL synergy18 June 2007, Published under Cement NewsHolcim may appoint some management consultants to provide advice on combining some of the best practices and processes in Gujarat Ambuja Cement (GACL) and ACC, according to the Economic Times of India. The move, which analysts see as a first step towards consolidation of the Holcim India empire, is aimed at cutting costs and improving efficiencies. While the final blueprint of the grand design are still under intense speculation, Holcim feels the GACL-ACC combo could work much better b... |
Cherat Cement Company nine months, Pakistan15 June 2007, Published under Cement NewsCherat Cement Company chairman Mohammed Faruque, Chairman released the company’s nine monthly report for the period ended March 31, 2007. On the back of an impressive expansion in domestic demand, the company’s sales volumes rose to 666.9Mt compared to 423.3Mt in the previous nine months period of FY 2006-07 (9M M05-06) representing an increase of 57.5%. However with the massive increase in the production capacity of the industry the selling price of cement went down, which adversely impact... |
OCL India board to consider raising INR2.2bn15 June 2007, Published under Cement NewsCement maker OCL India Ltd. said on Thursday its board will meet on June 16 to consider raising INR2.20bn rupees through issue of non-convertible debentures on private placement basis. |
Lafarge plans 10-year EUR500m14 June 2007, Published under Cement NewsLafarge plans to sell a 10-year EUR500m bond, one of the banks managing the sale said on Wednesday. The bond will be launched after an investors’ call scheduled for early on Thursday, the bank said. Calyon, HSBC, RBS and SG CIS are joint managers. Lafarge is rated BBB by Standard and Poor’s and Fitch Ratings and Baa2 by Moody’s Investors Service. |
Net profit growth rate declines 85%, India13 June 2007, Published under Cement NewsThe net profit growth rate of Indian cement firms declined to 85 per cent in the fourth quarter ended March 2007 compared with 150 per cent in the first three quarters. The Q4 sales growth was subdued at 35.2 per cent compared with 51.2 per cent in Q3, 40.5 per cent in Q2 and 37.3 per cent in Q1. Government intervention curbed the industry’s pricing power in a traditionally strong quarter. After abolishing the customs duty on imports in January, the government increased the excise burden t... |
Holcim redeems two convertible bonds ahead of schedule12 June 2007, Published under Cement NewsHolcim said it plans to redeem ahead of schedule two convertible bonds with a face value of SwFR131m and US$22m, respectively. The Swiss cement maker said the bonds, which mature in 2012 and 2017, will be redeemed on July 13. Holders will be able to exercise their conversion rights until July 4. As of March 31, the bonds’ combined book value was SwFr784m. Conversion of all outstanding bonds from both issues will result in 1,736,479 new shares being issued, Holcim said. |
Thai Siam City to write off 12.5M treasury shares12 June 2007, Published under Cement NewsSiam City Cement PCL, Thailand’s second-largest cement producer by capacity, said Tuesday it is in the process of writing off 12.5m treasury shares, or 5% of paid-up capital, which were bought back three years ago. The three-year resale period for the treasury shares has just expired, the company said in a statement to the Stock Exchange of Thailand. Following the share write-off, the company’s paid-up shares will fall by 12.5m shares to 237.5m shares, with a par value of THB10 eac... |
Lafarge bought 71,000 own shares last week for EUR8.82m12 June 2007, Published under Cement NewsLafarge SA said that it bought 71,000 of its own shares last week for a total outlay of EUR8.8m as part of a share buyback program, according to a filing with the financial market supervisor, Autorite des Marches Financiers. |
Shiva Cement defers decision on allotment of shares to ACC, India11 June 2007, Published under Cement NewsShiva Cement board today could not approve the proposal to allot 14.5 million equity shares to ACC and 25.7 million share warrants on preferential basis as the "in-principle" clearance from SEBI has not been received till now. A senior ACC official told Business Line: "It not a stumbling block but a pure procedural bottleneck". Shiva’s board would again take up the issue at its next board meeting scheduled for June 18. ACC official confirmed the agreement between the two companies stand... |
Raysut Cement 1Q07 net profit soars, Oman07 June 2007, Published under Cement NewsOman’s Raysut Cement Co booked a 43.8 per cent YoY rise in net profit to OMR7.32m (US$19m) for the first quarter of 2007, driven by improvements in production and marketing. Raysut Cement Co produced 507,418t of cement and 417,500t of clinker, an increase of 22 per cent and 29 per cent, respectively. The company’s total revenue soared to OMR13.6m (US$35.3m) from OMR10.6m (US$27.5m), and its gross profit went up to OMR6.8m (US$17.7m) from OMR5.5m (US$14.3m). Raysut Cement Co is... |