Cement News tagged under: corporate
Birla offloads entire stake in Mysore Cement01 January 2007, Published under Cement NewsBangalore-based SK Birla group company Birla VXL offloaded its entire stake, representing 2.62 per cent in Mysore Cement in an open market transaction. Mysore Cement in a filing on the Bombay Stock Exchange today informed that Birla VXL sold 4,140,120 shares. The move preceded the opening of the offer from German major Heidelberg to the shareholders of Mysore Cements, which was scheduled to open from December 27. Interestingly, in a temporary relief to German cement major HeidelbergCement,... |
Kuznetsk Cement Plant to provide investment funding01 January 2007, Published under Cement NewsCaspian Resources (Kazakhstan), which recently bought 100% of the shares of Kuznetsk Cement Plant (Kemerovo region) will invest RUR200 million in the plant development in 2007, said Sergey Chernev, the plant’s Director General. The funds will enable the plant to double cement production to 700,000 tons per annum, which will be the first stage of production development. By the beginning of 2009, production volume could grow to 1 million tons per annum. |
Heidelberg Mediterranean requests tender call exemption01 January 2007, Published under Cement NewsHeidelberg Cement Mediterranean Basin Holding has applied to the capital markets board for an exemption from launching a tender call for Akcansa shares held by other shareholders. Recently, CBR International, a wholly-owned subsidiary of Heidelberg Cement A.G, transferred its 39.7% Aksansa shares to Heidelberg Cement Mediterranean Basin Holdings, which is also a wholly-owned subsidiary of Heidelberg Cement AG. |
SCC cuts power costs01 January 2007, Published under Cement NewsSiam Cement Plc (SCC), Thailand’s largest industrial conglomerate, plans to spend 1.96 billion baht on power generators to help reduce energy costs. The company said the energy-efficient generators, with a total capacity of 33.5 megawatts, at three cement plants would achieve annual savings of 500 million baht. The generators with be installed at the company’s Thung Song plant in Nakhon Si Thammarat, and at the Kang Khoi and Ta Luang plants in Saraburi. The units are expected to be operati... |
Oyak’s Bolu puts more into cement01 January 2007, Published under Cement NewsBolu Cimento, part of the Turkish Oyak Group, plans to invest 6.1 mln lira (US$4.3m) in 2007, as production is forecast at 1.8Mt of cement and 1.475Mt clinker. Bolu Cimento reported a net profit of 57.766 mln lira (US$40.6m) for January to September 2006, growing 91.7 pct from a year earlier, as sales improved 24.1 pct reaching 123.543 mln lira ($86.7m). |
Development Board supports Holcim expansion01 January 2007, Published under Cement NewsThe Waitaki Development Board in New Zealand has come out in support of a proposed cement plant at Weston, citing the economic benefits. Chief executive Mark Jurisich said the "silent majority" might not think about Holcim (New Zealand) Ltd the way the plant’s opposition group, the Waiareka Valley Preservation Society, did. "They may think a little more practically about who will buy their businesses, who will buy their homes, who will look after them when they are old," he said. The popul... |
Buzzi rules out higher share offer22 December 2006, Published under Cement NewsItalian cement company Buzzi Unicem SpA says holders of the 5.1% of Dyckerhoff AG shares that it doesn’t already control must accept its cash offer, "or the train will depart", according to local press reports quoting chief executive Pietro Buzzi. Buzzi ruled out another higher bid for the buyout of Dyckerhoff minority shareholders. Last month, Buzzi raised its offer to EUR42 per ordinary share and EUR40 per preferred share, from a previous offer of EUR40 and EUR37.5 respectively... |
Colombia Argos secures $480m in loans21 December 2006, Published under Cement NewsColombia’s largest cement maker Cementos Argos SA said it secured a $480m loan with BNP Paribas SA and Citigroup Inc, the company said in a filing to the securities regulator Wednesday. The Medellin-based company said it used the proceeds for liability management purposes such as reducing the costs of its debt. The two banks offered to lend as much as $648m to Argos, the company said. During 2005, Argos bought two cement companies in the U.S. for a total amount of $257m, and in t... |
YTL Land & Development, YTL Cement 1Q net profits fall20 December 2006, Published under Cement NewsYTL Land & Development Bhd’s net profit for the first quarter (1Q) ended Sept 30, 2006, was almost halved to RM2.94 million from RM5.58 million a year ago, mainly due to lower progress billings recognised from the ongoing projects and change in the timing of launches of new projects. It told Bursa Malaysia on Dec 19 that revenue fell 28% to RM24.01m from RM33.49m previously. Earnings per share was 0.35 sen compared with 0.66 sen previously. Meanwhile, YTL Cement Bhd posted a net profit of R... |
Lafarge seals new EUR300m partnership deal with EBRD20 December 2006, Published under Cement NewsLafarge said Wednesday it is renewing its partnership with the European Bank for Reconstruction and Development. Under the new deal, the EBRD has earmarked up to EUR300 million for investment in Lafarge projects in both eastern Europe and central Asia through to the end of 2009. Lafarge signed an initial partnership agreement with the bank ten years ago to help with building projects in Poland, Romania and Slovenia. The EBRD has also committed up to EUR70 million to help Lafarge m... |