Cement News tagged under: corporate
Malaysia’s UEM World says still in talks with VICAT30 May 2007, Published under Cement NewsMalaysian builder UEM World is still in talks with cement maker VICAT SA over its offer for equity in the Malaysian firm’s units, its chief executive said on Tuesday. "The project is still being pursued at CIMA level. They are duscussing the issue," Ahmad Pardas Senin told Reuters. |
CCANZ chairman appointed to Golden Bay Cement30 May 2007, Published under Cement NewsThe chairman of the Board of the Cement and Concrete Association of New Zealand, Andrew Moss, has been appointed general manager of Golden Bay Cement. Andrew has been a CCANZ Board member for four years and is now in his second term as chairman. CCANZ chief executive Patrick McGuire says he is delighted with the appointment. “Golden Bay Cement is a key supporter of CCANZ and we are fortunate to have a strong working relationship with Andrew already,” says Mr McGuire. “Andrew has a wealth ... |
St Lawrence suitor Holcim mails takeover bid30 May 2007, Published under Cement NewsHolcim Group is mailing to shareholders of St Lawrence Cement Group Inc. (SLC) its offers and takeover bid circular dated May 29, 2007, and related documents, in connection with Holcim’s previously announced offer to purchase all outstanding Class A subordinate voting shares that Holcim does not already own at a cash price of $40.25 per Class A share and all outstanding Class 1 special shares at a cash price of $40.25 per Class 1 share. Also being mailed to SLC shareholders is the directors... |
Indonesia’s Semen Gresik eyes 10-for-1 split29 May 2007, Published under Cement NewsIndonesia’s largest cement maker, PT Semen Gresik Tbk, plans to seek shareholder approval to conduct a 10-for-one stock split, a source familiar with the plan told Reuters on Tuesday. The source, who declined to be identified, said that the state-owned company will ask shareholders to approve the idea at an extraordinary meeting scheduled next month. "The share price has become so expensive..., while the outstanding shares of Gresik are small compared to our rivals, it would be id... |
India Binani Cement ends lower Vs IPO price29 May 2007, Published under Cement NewsShares of India’s Binani Cement Ltd. (532849.BY) Monday closed 8.5% below their initial public offer price, on fears that the freeze on cement prices and excess supply will squeeze the company’s profits. The stock opened at INR79 on the Bombay Stock Exchange and closed at INR68.65 compared with an initial public offer price of INR75, with nearly 5.8 million shares changing hands. The BSE’s 30-stock benchmark Sensitive Index, or Sensex, was up 0.4% at 14,397.89. However, analysts e... |
Semapa says Q1 net up 155 per cent on one-off gain29 May 2007, Published under Cement NewsPortuguese conglomerate Semapa said on Friday its first-quarter net profit rose 155 per cent to EUR47.2m on the back of the sale of its stake in Energias de Portugal (EDP). Revenues increased eight per cent to EUR342.4m and EBITDA jumped 41 per cent to EUR123.5m. Semapa, which controls pulp and paper company Portucel and cement unit Secil, said it had generated a capital gain of about EUR25.6m from the sale of shares in Portuguese power group EDP . "We don’t expect results in th... |
Malabar Cements makes record profit29 May 2007, Published under Cement NewsAccumulated profit stands at Rs.78 crore as on March 31, 2007 Turnover rises to Rs.239 crore from Rs.228 crore The State public sector Malabar Cements Limited, Walayar, has made an all-time record profit of Rs.24.76 crore during the 2006-07 financial year. Addressing a press conference on Saturday, company Chairman and Principal Secretary (Industry and Commerce) T. Balakrishnan and Managing Director K.S. Srinivas said the company also had record turnover during the period. The turnover dur... |
Egypt’s Amreya Cement Q1 net down 19 per cent25 May 2007, Published under Cement NewsEgypt’s Amreya Cement made net profit of E£71.2m (US$12.5m) in the January-March 2007 quarter, 19 per cent less than in the same quarter of 2006, the stock exchange said. Net profit in the January-March 2006 period was E£87.8m. Both profit figures are "before minority interest". |
HeidelbergCement to increase capital24 May 2007, Published under Cement NewsHeidelbergCement, the German cement products group, is increasing its capital by 4.4 million shares, to the exclusion of independent shareholders. Substantial shareholder Adolf Merckle will acquire the share package at 114 euros per share through his asset management company VEM Vermogensverwaltung. It is estimated that the transaction will bring in equity of around 500m euros for HeidelbergCement, which, it is reported, will contribute towards the refinancing of the company’s purchase ... |
Cemex control in Rinker reaches 30%24 May 2007, Published under Cement NewsCemex has obtained a 30.21% total share in Australian cement company Rinker, representing 270.4mn shares, the company announced in a statement to the Mexican stock exchange BMV. This represents a 10% increase on the company’s previous 27.47% holding in Rinker of 245.8mn shares, according to the statement. Shares held under the instruction of institutional investors rose 18.2% to 84.6mn shares, or 9.45% of the company, while shares held through "relevant interests" rose 6.7% to 185.... |