Cement News tagged under: corporate
Twiga Cement oversubscribed ’three times’29 August 2006, Published under Cement NewsInvestors’ response to an initial public offer (IPO) floated by Tanzania Portland Cement Company (TPCC) a month ago has raised more capital that was needed by management. While the management wanted to raise 23.4bn/- worth of capital from the public through the sale of authorized 53,975,900 shares, an overwhelming 212,688 923 shares were sold realizing 92.5bn/- by the end of book closure. The crushing response means close to 70bn/- would have to be refunded to unsuccessful subscribers effec... |
Cement Corporation restructuring29 August 2006, Published under Cement NewsSeven shut down units of state-owned Cement Corporation of India (CCI) are planned to be sold off soon to revive three of the remaining plants in Andhra Pradesh, Assam and Himachal Pradesh, Heavy Industries and Public Enterprises Minister Sontosh Mohan Dev said here Friday. “The proposal for sale of the seven shut down units of CCI has been approved by the cabinet. We expect to raise Rs.6 billion through sale of the seven units,” the minister said on the sidelines of a meet organised by the... |
Ultratech expects large turnover increase29 August 2006, Published under Cement NewsUltratech Cement Ltd expects a 20 per cent rise in its gross turnover for the current fiscal year ending Mar. 31, 2007, its chairman said Monday. "We expect production to total 17.74Mt in the current fiscal year," Kumaramangalam Birla said at the annual shareholders’ meeting. Answering shareholders’ questions, he said that the company expects to maintain its operating profit margin at 21.7% this fiscal year. Capacity utilization at its plants will be 104% in the current fiscal year, compared... |
TPI falls short of target25 August 2006, Published under Cement NewsTPI Polene Plc has raised Bt12.18 billion (US$340m) - short of its target of Bt16.78 billion - from selling 1.27 billion newly issued shares through a rights issue and a private placement. The company had planned to issue about 1.67 billion capital-increased shares. Of these, 807.5 million were allocated to existing shareholders at a ratio of one new share for each share held at Bt10 each, and the remainder to specific investors through private placement at a price of Bt10.15 apiece. ... |
’Sibcement’ ordered to decrease its shareholdings25 August 2006, Published under Cement NewsThe Department of the Federal Anti-monopoly Service for the Krasnoyarsk Krai issued an order to ’Holding Company ’Siberian Cement’ OJSC (Kemerovo) to reduce its shares in ’Krasnoyarsk Cement’ Ltd. and ’Volna’ Ltd. (producer of roofing slate) to 50% or lower within two months, reports Deputy Head of AMS Department Oleg Kharchenko. At present Sibcement’s shares in these companies total 100%. The order was issued because the present situation ’worsens the competition conditions in the cement an... |
YTL Corp earnings25 August 2006, Published under Cement NewsYTL Corp Bhd reported a 63 per cent jump in its fourth-quarter net profit, driven mainly by its cement and utilities division. The group intends to grow these businesses by looking for opportunities in Malaysia and abroad. "The group intends to continue to grow earnings and create value for our shareholders with our ongoing focus on pursuing attractive and viable opportunities predominantly in the utility and cement industries, both in Malaysia and internationally, in Europe and the Asia-Pa... |
HeidelbergCement set to take majority stake24 August 2006, Published under Cement NewsHeidelbergCement is planning to take a majority stake in its equal joint venture with India’s IndoRama Cement, the Economic Times reported Thursday, quoting HeidelbergCement managing board member Daniel Gauthier. "We already have management control of the JV, but would like to acquire a controlling (equity) stake in the company. The board is also deliberating capacity expansion at the plant but that is yet to be decided," Gauthier told the paper. The joint venture company runs a cement u... |
Monarch Cement - nine year high24 August 2006, Published under Cement NewsCashFlowNews.com reports that EBITDA for The Monarch Cement Company for its twelve months ended June 30, 2006 was $30,361,979, a 106 per cent increase over the year earlier same twelve months when Monarch Cement generated $14,743,035 in EBITDA. EBITDA for the most recent twelve months also reached a nine year high. For Monarch Cement’s quarter ended June 30, 2006 EBITDA was $10,688,823, compared with $6,415,257, a 67 per cent increase over the comparable year earlier quarter. Monarch Cemen... |
Javedan Cement sale agreement signed24 August 2006, Published under Cement NewsThe Pakistan Privatisation Commission on Wednesday signed a share purchase agreement (SPA) with Haji Ghani Usman & Group for transfer of Javedan Cement Limited (JCL) management after one year of bidding. The bidding for JCL was held in September 2005 and Haji Ghani Usman & Group had paid to the government Rs 1.156 billion as first instalment of the transaction. However, the transfer of management was stayed by Sindh High Court on the request of Dadhabhoy Cement. The Court vacated the stay or... |
Mysore Cements allots shares to Heidelberg24 August 2006, Published under Cement NewsS K Birla group company, Mysore Cements Ltd, today said it has restructured its board and has allotted 6.65 crore additional fully paid-up equity shares to Cementrum IBV, a subsidiary of German cement and building materials giant Heidelberg Cement. As per the restructuring, S K Birla would continue to be the Chairman of the Board and Siddharth Birla would continue as a director. Bernd Seheifele (chairman of the managing board of Heidelberg Cement), Ir. Daniel Gauthier and Lorenz Nager memb... |