Cement News tagged under: corporate
Merrill ups emerging market infrastructure spending forecast12 December 2006, Published under Cement NewsInfrastructure spending in emerging markets could exceed $1 trillion in the next three years, up from its previous estimate of $705 billion, on higher spending forecasts for China and the emergence of new sources of spending in Russia and in the Middle East, Merrill Lynch said in a report Monday. "(Emerging market) equity prices are responding positively to the theme," Merrill said, adding that its infrastructure basket of stocks is up 38% year-to-date. Merrill picked a list of 50 stoc... |
Saurashtra Cement allots 1.52m shares against debt11 December 2006, Published under Cement NewsSaurashtra Cement Ltd, Inida said it would allot 1.52 million shares at 73 rupees on conversion of debt as part of its corporate debt restructuring scheme. The shares would be alloted on conversion of 10 percent of the outstanding loan amount of lenders and debenture holders, the company said in a statement. Shares in the company were down 4.4 per cent at 70 rupees in a weak Mumbai market. |
Taiwan Cement Nov parent sales 2.13 bln twd vs 2.54 bln11 December 2006, Published under Cement NewsTaiwan Cement Corp (1101.TW) said its parent sales in November fell to 2.13bn twd from 2.54bn in the same month last year. Parent sales for the first 11 months of the year decreased to 23.96bn twd from 25.83bn in the year-ago period, it said. At 12.02 pm, Taiwan Cement was down 0.40 twd at 30.30. (1 US$ = 32.40 twd). |
Holcim Indonesia up sharply on laggard interest11 December 2006, Published under Cement NewsPT Holcim Indonesia was sharply higher in mid morning trade, supported by laggard buying with the stock seen to have fallen behind gains recorded by many other stocks, including cement firms, recently, dealers said. At 11.08 am, Holcim was up 20 rupiah, or 3.03 per cent, at 680. "The stock’s price has lagged gains seen in other cement stocks recently, as well as the broad market run-up," Lanang Trihardian, an analyst with PT Erdikha Elit, said. He added that the interest in H... |
Non-executive director resigns at Chia Hsin Cement11 December 2006, Published under Cement NewsThe board of directors of Chia Hsin Cement Greater China Holding Corporation announces that Mr CHANG Yung Ping, Johnny has resigned as a non-executive director of the Company with effect from 8 December 2006. The board of directors (the “Board”) of Chia Hsin Cement Greater China Holding Corporation (the “Company”) announces that Mr CHANG Yung Ping, Johnny (“Mr CHANG”) has resigned as a non-executive director of the Company with effect from 8 December 2006 to pursue his personal interests... |
Cemex extends bid for Rinker by five weeks08 December 2006, Published under Cement NewsAccording to Australian press reports, Cemex has extended its hostile takeover bid for rival Rinker Ltd by five weeks to give the target’s shareholders and US regulators time to study the proposed transaction. The world’s number three cement maker has offered US$13/share or US$12bn ($A15.23bn) for rival Rinker, which earns most its revenue from cement sales in the US market. The offer equates to $16.53 per share, after adjusting for recent foreign exchange rate movements. Rinker ... |
Second Cement Firm Hits Hanoi Bourse07 December 2006, Published under Cement NewsBut Son Cement Company yesterday listed all its 90m shares on the Hanoi Securities Trading Center (HASTC), becoming the second cement producer on the bourse. The shares, coded BTS, debuted at an average price of VND23,900 on 48,000 shares changing hands. With registered capital of VND900 billion ($56.3m), But Son Cement has become the fourth biggest company on the HASTC, behind the Pha Lai Thermo-power Co, Asia Commercial Bank and Bao Minh Insurance Co, but equivalent to the capital... |
Sinoma Plans HK Listing in 0706 December 2006, Published under Cement NewsChina National Materials Industry Group (Sinoma), a state-run building materials maker, is preparing for an initial public offering in Hong Kong. The Beijing-based company will not consider the dual-listing mode of listing both in Hong Kong and mainland bourses at present and is predicted to finish the Hong Kong listing in the first half of 2007, disclosed a source close to the company. Presently, Sinoma has three publicly traded subsidiaries, namely Sinoma International Engineering C... |
Shiva Cement to issue 2.5m shares to IFCI05 December 2006, Published under Cement NewsShiva Cement Ltd. said on Monday its board had approved the issue of 2.5m shares to IFCI Ltd. at a price 3.55 rupees per share The board also approved the issue of 45 million equity share warrants at 3.55 rupees per warrant to relatives of its promoters and strategic domestic investors, the company said in a statement. |
Peruvian cement investments05 December 2006, Published under Cement NewsPeruvian investment group Grupo Gloria plans to invest US$114m in the expansion of its cement plants in the Arequipa and Puno departments, local paper Gestión reported. Grupo Gloria will invest US$100m in increasing clincker production at the Yura plant, in Arequipa, from this year’s estimated 500,000t to 1.7Mt in 2009, said the group’s general manager José Antonio Noriega. The upgrade will allow the group to produce sufficient cement to supply market demand over the next 10 years. Grupo ... |