Cement News tagged under: corporate
BCC returns to profitability24 August 2006, Published under Cement NewsBenue Cement Company (BCC) has returned to profitability as a result of the major restructuring efforts undertaken by the new core investor which bought the Federal Government’s 35.39 per cent shares in the company in the year 2000. Though the Federal Government divested its shareholding in BCC to Dangote Industries Limited (new core investor) in April 2000, the Bureau of Public Enterprises (BPE) handed over the Federal Government shares to Dangote Industries Limited in 2004. Specifically,... |
Holcim on growth track24 August 2006, Published under Cement NewsIn the first six months of 2006, Holcim produced further organic growth and improved its financial performance. Contributing factors include the generally favorable market environment, the enhanced scope of consolidation, and greater operational efficiency. Against the backdrop of favorable global economic development, the construction industry produced a solid performance in most regions. Among the few exceptions were a small number of Asian countries, in which political uncertainties in p... |
New assets help Anhui Conch net jump23 August 2006, Published under Cement NewsAnhui Conch Cement, China’s biggest cement producer, said first-half net profit soared 457 per cent over the same period the previous year thanks to newly acquired assets which boosted its output volume and profitability. Net profit hit 509 million yuan (HK$495.55 million), or 0.41 yuan per share, for the first six months ended June 30, compared to 91.4 million yuan, or 0.07 yuan a share last year, the company said in a statement to the Hong Kong stock exchange Tuesday. Revenues rose 48.5 pe... |
JK Cement, Dalmia talk venture?23 August 2006, Published under Cement NewsAfter the recent consolidation, still more to come! This time, the middle-rung companies are now looking at setting up joint ventures. According to investment banking sources, Dalmia Cement and J K Cement as of last week were talking of forming a joint venture, primarily to fend off the bigger players. Such a move will also leverage geographies — JK has three plants in Rajasthan, with a total capacity of 5Mta, while Dalmia has one unit in Dalmiapuram in Tamil Nadu with a capacity of 3.5Mta.... |
Vinaconex Corp to sell shares23 August 2006, Published under Cement NewsState-owned Vietnam Construction Import-Export Corp., or Vinaconex, will offer shares in the company worth VND650 billion ($40.6 million) via auctions next month, a Vinaconex official said Wednesday. "Vinaconex will start selling its shares for the first time after it sold shares in its units in the last few years," the official from Vinaconex’s headquarters in Hanoi told Dow Jones Newswires. The company plans to sell all of the shares to company staff and domestic investors, he added. In a... |
CRH to acquire Ashland Paving And Construction, Inc22 August 2006, Published under Cement NewsCRH plc, the international building materials group, announces that its US subsidiary, Oldcastle Materials, Inc., has reached agreement to purchase Ashland Paving And Construction, Inc (APAC) for a total consideration, including zero net debt at acquisition, of US$1,300m; the final price to be adjusted for seasonal working capital and some other accounts at completion. Goodwill arising on the transaction is estimated at approximately US$450m. Completion of the purchase of APAC, which has re... |
Holcim H1 net profit seen up, price hikes help22 August 2006, Published under Cement NewsHolcim , the world’s second biggest cement maker, is expected to report a 34 per cent rise in first-half net profits before minorities, boosted by price increases and recent acquisitions. Net income attributable to shareholders is seen rising 18 per cent, according to the average in a Reuters poll of 12 analysts. Following is a breakdown of analysts’ forecasts for the first-half 2006 results. Holcim is due to report on August 24. |
Investment funds eye Lafarge roof unit22 August 2006, Published under Cement NewsAt least a dozen investment funds and an industrial group are studying the potential acquisition of building materials group Lafarge’s roofing business, according to reports from La Tribune newspaper of France. Citing its own sources it said that indicative offers were to be submitted on Sept. 6 for the business which it said was valued at EUR2bn. La Tribune said the interested investment funds were Doughty Hanson, Candover, Advent, Carlyle, Cinven, PAI Partners, Eurazeo, KKR, LBO F... |
Heidelberg revises Mysore terms21 August 2006, Published under Cement NewsHeidelbergCement subsidiary Cementrum I bv has decided to waive off the conditions for accepting minimum number of shares under the open offer made by it to the shareholders of SK Birla group company Mysore Cements Ltd. Last month the group had made a open offer to the shareholders of Mysore Cements for acquiring 35 million equity shares of the company, representing a 22.15 per cent stake. In a filing on the Bombay Stock Exchange on Saturday Ambit Corporate Finance Pvt Ltd, the Manager o... |
Bamburi Defends its presence in EAPC21 August 2006, Published under Cement NewsKenyan Bamburi Cement has defended its controversial shareholding in its main rival East African Portland Cement (EAPC). Mr Michel Pucheros, the managing director of Bamburi Cement, said Larfarge - the French company that owns Bamburi had broken no law by owning a shareholding in EAPC. "The Shareholding in our main rival is legal and I’m surprised that this is being cited as one of the reasons behind the management problems at EAPC," he said. Pucheros was speaking at the firm’s Athi Ri... |