Cement News tagged under: corporate
Eagle Materials Inc. Raises Q1, FY 2007 EPS Guidance28 June 2006, Published under Cement NewsEagle Materials Inc. announced that it has increased its first quarter and fiscal year 2007 earnings per share (EPS) guidance. For the first quarter of 2007, it expects EPS of $1.10 to $1.20, compared to previous guidance of $1.00 to $1.10. For the fiscal year 2007, it expects EPS of $4.40 to $4.70, compared to previous guidance of $3.67 to $4.00. According to Reuters Estimates, analysts expected the Company to earn $1.10 in the first quarter of 2007 and $4.54 in the fiscal year 2007. The Co... |
HeidelbergCement to buy out Teutonia27 June 2006, Published under Cement NewsGerman cement company Teutonia Zementwerk AG said Monday its majority shareholder HeidelbergCement AG will make a cash offer to holders of preference shares ahead of a delisting from the Hanover stock exchange. HeidelbergCement will make a cash offer of Euro 420 a share, Teutonia reported. The proposal to delist the company’s preference shares will be put to Teutonia Zementwerk’s annual general meeting on August 30. |
GCC looking for cash27 June 2006, Published under Cement NewsOn the back of a rather aggressive foray into the United States with four acquisitions in the past six months, Mexican company Grupo Cementos de Chihuahua (GCC) entered the private market last week via agent Barclays, seeking US$125m of senior notes , sources said. The agent intends to place the notes in a 10-year final/9-year average life maturity, sources said. No price talk was heard at press time. Last month, GCC acquired Tulsa, Oklahoma-based Mid-Continent Concrete Company and Alli... |
ACC sells shares to Ambuja Cement27 June 2006, Published under Cement NewsThe Associated Cement Companies(ACC) has sold 38,75,627 shares aggregating to 2.07 per cent of the total share capital of the company between May 31, 2006 and June 14, 2006, to Ambuja Cement India. The mode of acquisition is through open market and the shareholding of Ambuja Cement after the said acquisition is 6,58,37,528 shares, aggregating to 35.23 per cent of the total share capital of The Associated Cement Companies(ACC). |
UltraTech Cement net zooms27 June 2006, Published under Cement NewsUltraTech Cement has disclosed a phenomenal jump in net profits for the quarter ending in March 2006. During the quarter, the company witnessed a 1549.80 per cent rise in profits from Rs49.40m to Rs. 815m. Sales for the quarter rose 40.85 per cent to Rs. 10,223.60m compared with the corresponding quarter, a year ago. Operating margins improved to 13.39 per cent during the quarter, a rise of 548.44 basis points compared with the corresponding quarter. Net margins, on the other hand, rose ... |
China National Building to acquire cement business?26 June 2006, Published under Cement NewsChina National Building Material Co Ltd (CNBM) said it is in talks with certain independent third parties regarding the possible acquisition of a cement business operating in China. The company said in a statement that the negotiations are still at a preliminary stage and no formal agreement has been signed. |
Lafarge could sell some German activities26 June 2006, Published under Cement NewsLafarge is expected to sell its business with roof-tiles, which would mean the withdrawal of the group from large parts of its German operations. The company says that it is still at an early stage in the plans; nevertheless, Austrian rival Wienerberger has already expressed interest. The division has a turnover of around Euro 1.5bn and employs 11,500 staff. Lafarge is the market leader in this sector in Germany, with subsidiaries such as Schiedel and Braas. Turnover on the German market to... |
Cementos Molins may seek more acquisitions26 June 2006, Published under Cement NewsSmarting from its failure earlier this month to acquire fellow Spanish cement producer Uniland, Spanish cement group Cementos Molins is looking to other opportunities for growth via acquisitions. Cementos Molins chairman Casmiro Molins Ribot, however, has acknowledged that such opportunities will be difficult to come by. On June 4, the majority shareholders in Uniland agreed to sell 51 per cent of the firm for Euro 1.092bn euros to Portland Valderrivas, a subsidiary of leading Spanish constr... |
CRH boss’s EUR6.5m pay package26 June 2006, Published under Cement NewsCRH handed its chief executive Liam O’Mahony a staggering €6.5m shares and stock options package last week, shattering Irish pay records in the process. O’Mahony, who is trying to seal CRH’s biggest ever deal by landing the EUR1.5bn US firm Ashland Paving this week, was awarded 200,000 options with an exercise price of EUR 24.83. The grant under the 2000 share options scheme is exercisable from June 2009. After two days O’Mahony was EUR 14,000 ahead on the award. Previous handouts hav... |
Cementos Lemona files delisting application23 June 2006, Published under Cement NewsCementos Lemona SA has applied for delisting from the Madrid and Bilbao stock exchanges, the Spanish stock market regulator CNMV informed on June 22, 2006. The move was approved by the general shareholders’ meeting on May 10, 2006 and follows a successful takeover bid, launched by Spanish sector company Cementos Portland Valderrivas in January 2006. Cementos Portland Valderrivas, a unit of Spanish construction and services group Fomento de Construcciones y Contratas SA (FCC), currently hold... |