Cement News tagged under: corporate
EU Approves Figdor purchase21 August 2006, Published under Cement NewsThe European Commission Friday cleared German cement makers Mibau Holding GmbH, controlled by HeidelbergCement and Foster Yeoman Baumineralien GmbH, to buy German building materials company Figdor Baustoffhandel GmbH. Mibau makes and distributes construction materials. Foster Yeoman distributes materials for concrete and asphalt production. Figdor treats, stores and distributes building materials in Wilhelmshaven, Germany. The takeover was cleared under the commission’s simplified procedu... |
Nigerian cement project woos investors21 August 2006, Published under Cement NewsNigeria’s Adamawa State government has begun fresh discussion with German and Indian investors to explore the possibilities of a joint venture in the establishment of cement manufacturing company in the state. Disclosing this to newsmen recently in Yola, the deputy governor, Bello Tukur, who is also, the commissioner of commerce, said the first deal with the Chinese that cost the state over N6 million (about US$467,000) collapsed because the Chinese experts failed the government. He maintai... |
Govt to offload shares in cement industry, Kenya18 August 2006, Published under Cement NewsThe government will soon offload more of its shareholding in the cement industry to the public through the Nairobi stock exchange, in a bid to certify the requirements of the Capital Markets Authority. Trade and Industry Minister Dr Mukhisa Kituyi says Lafarge company is working on a government proposal to reduce its shareholding in the sector. The Minister at the same time Kituyi said, the Kenya Anti-Corruption Commission has been mandated to investigate misappropriation of funds at the E... |
SCC unit shifts its focus17 August 2006, Published under Cement NewsSCT Co, the international trading arm of Siam Cement Group, is focusing on its new recycling and alternative energy businesses in order to raise margins, according to managing director Kalin Sarasin. The company decided to diversify into these higher-margin businesses at the beginning of the year after generating just 2-3 per cent growth from trading cement and construction materials. In the first seven months of the year, the company reported sales of 17.5 billion baht, an increase o... |
Truce in Lebanon boost UAE shares17 August 2006, Published under Cement NewsShares in UAE cement companies reacted strongly to the Lebanese ceasefire this week as prospects increase of infrastructure and property reconstruction in the war-torn country. Although UAE companies such as Union Cement, Gulf Cement and Ras Al Kaimah Cement focus mainly on the domestic market, experts say resources pulled from other parts of the Gulf will create gaps in demand which could be filled by local companies. The possible trend saw a recent rally on the Abu Dhabi market, with... |
Antitrust board fines Akcansa17 August 2006, Published under Cement NewsAkcansa, a major Turkish cement manufacturer, said that it received the antitrust board’s ruling that the company should pay TRY 1.1mn fine in three months. The company said that it would appeal against the ruling. The council of state, top administrative court in the country previously annulled the penalty but the board discussed the matter once again and decided to order the company to pay the fine. |
TPIPL places new shares17 August 2006, Published under Cement NewsTPI Polene Plc has successfully sold capital-raising shares to existing shareholders, according to Prachai Leophairatana, the company’s chief executive. The company offered 807.5 million shares to existing holders from Aug 7-11 at 10 baht each in a ratio of one existing share to one new share. The shares were fully subscribed, said Mr Prachai. The private placement is a part of a plan by the country’s third-largest cement maker to raise at least 16 billion baht. TPIPL shares closed yesterday... |
Cementos Argos to offer Bonds worth US$105m16 August 2006, Published under Cement NewsCementos Argos, Colombia’s biggest cement maker, on Wednesday will sell as much as 250 billion Colombian pesos (US$105m) worth of bonds maturing in six months and one year. Argos will use the proceeds of the sale as working capital, the company said Tuesday in a statement. The cement maker will sell the bonds in two tranches of up to COP150 billion, but the total amount of the sale won’t be more than COP250 billion. The first tranche will mature in 180 days and the other will mature in ... |
Sinai Cement net profit climbs16 August 2006, Published under Cement NewsEgyptian Sinai Cement Company’s (SCC) net profit jumped to E£147.3m (US$25.6m) in the first half of 2006 from E£65.5m (US$11.4m) in the year-ago period, the company said in a statement to Cairo and Alexandria Stock Exchanges (CASE) from August 15, 2006. For 2005, SCC’s net profit soared to E£181.9m (US$31.7m) from E£80.7m (US$14.1m) in 2004. SCC produced 1.6Mt of cement in the first half of 2006 and exported 40 per cent of its production, the Egyptian News Digest reported on January 2... |
Moody’s increases Cemex outlook to positive15 August 2006, Published under Cement NewsMoody’s has changed the outlook on Mexican cement company Cemex’s senior unsecured debt - around US$62m rated at Baa3 - from "stable" to "positive," Moody’s reported in a release. The change in outlook is a reflection of Moody’s greater confidence in the performance and business profile of Cemex after the progress achieved since the acquisition of the RMC group in March 2005, the release stated. Moody’s also pointed to favorable trends in sales volumes and prices in the US, Mexico and Spain... |