Cement News tagged under: corporate
Holcim open offer fails to excite investors25 April 2006, Published under Cement NewsHolcim’s open offer to Gujarat Ambuja Cements Ltd (GACL) shareholders to pick up an additional 20 per cent stake in the company, may have elicited lukewarm response, people in the know say. The offer closed on Monday. The Swiss major is willing to pay Rs 90.64 per share, even as the GACL stock closed at Rs 119.50 on the Bombay Stock Exchange (BSE) Ltd on Monday. Nobody would want to sell the stock at a 30 per cent discount," said Rajan Kumar, an analyst with Networth Stock Broking Ltd. "Ce... |
UltraTech board approves capital expansion25 April 2006, Published under Cement NewsUltraTech Cement Ltd. said on Monday its board had approved additional capital expenditure of 4.9 billion rupees for productivity improvement and cost efficiency. It also approved setting up a captive power plant for 2.7 billion rupees at its Hirmi cement factory in the central state of Chattisgarh. "This is part of the capex plan of 1,520 crore (15.2 billion rupees) which we will spend over the next three years," D. D. Rathi, company director, said. Earlier, the company reported a 6... |
Lafarge Shui On Cement sets up Guizhou business unit25 April 2006, Published under Cement NewsLafarge Shui On Cement, a joint venture between the world-leading cement producer Lafarge and Shui On Construction And Materials Limited (SOCAM), a member of Hong Kong’s Shui On Group, created on 11 August 2005, recently founded its Guizhou Business Unit in the provincial capital city of Guiyang in southwestern China. Since the entrance into China market earlier in 1994, the France-based Lafarge has already established four large-scale joint venture cement plants in Beijng, Sichuan Provi... |
Baticim submits bid for Limas port operator25 April 2006, Published under Cement NewsBaticim Bati Anadolı Cimento, a cement company, announced that it submitted its bid regarding Limas, which runs a port in Izmir’s Aliaga district. Limas was seized by the SDIF (Saving Deposit Insurance Fund) from Uzan Group against the debts of the group to the state. The SIDF will hold an auction for Limak on May 5 and the SDIF set a minimum estimated value at USD 32m for the company. |
KHD Humboldt Wedag announces agreement25 April 2006, Published under Cement NewsKHD Humboldt Wedag International Ltd. ("KHD") announces that it has entered into an arrangement agreement (the "Arrangement") with Sasamat Capital Corporation ("Sasamat") a 51 per cent subsidiary of KHD which in turn owns 35 per cent of KHD’s German operations, providing for the acquisition by KHD of all of the outstanding common shares of Sasamat (the "Sasamat Shares"). The Arrangement is structured such that Sasamat will amalgamate with a wholly owned subsidiary of KHD under the Canada Bu... |
Arabian Cement Company sales24 April 2006, Published under Cement NewsThe sales revenue of ACC for the year 2005 increased by 18.7 per cent to SR687.2m from SR578.8m in 2004. The cost of sales of SR338.7m, on the other hand, was higher by 7.5 per cent over the previous year. The higher increase in the sales revenue than in the cost of sales has caused a higher increase in the gross profit – an increase of 32.2 per cent to SR348.6m during the year from SR263.6m in 2004. Simultaneously, the Gross Profit Margin improved to 50.7 per cent in 2005 from 45.6 per cent... |
Caixa triples Cimpor stake24 April 2006, Published under Cement NewsState-owned savings bank Caixa Geral de Depositos bought 20 million shares of cement company Cimpor SA more than tripling its stake to 4.6 per cent. In a regulatory filing Cimpor said CGD bought 20 million shares in an over-the-counter transaction, bringing its total holding to 30.8 million shares. That represents 4.59 per cent of Cimpor, the statement said. Cimpor shares finished down 0.7 per cent Friday, at Euro 5.66. |
Semapa says starts 175 mln euro bond issue24 April 2006, Published under Cement NewsPortuguese conglomerate Semapa has begun a 10-year, Euro 175m bond issue in a private placement, the company said on Friday. The issue was launched on Thursday, Semapa said in a statement. The issue is part of a debt restructuring of the timber-to-cement conglomerate, which includes Secil. Banco Espirito Santo and Caixa-Banco de Investimento led the issue. |
Limak, Sabanci interested in Elazig24 April 2006, Published under Cement NewsAccording to the daily Dunya, Limak Group, Sabanci Group are interested in Oyak’s Elazig cement plant. This week, Oyak Group announced that it decided to sell the plant and informed 25 domestic and international investors regarding its decision. Oyak did not disclose the names of these investors. Oyak Group holds a 70 per cent stake in Elazig cement plant and Gama owns the remaining 30 per cent. Nihat Ozdemir, chairman of Limak, said that they were interested in the plant however they had so... |
UltraTech Cement Q4 net rises24 April 2006, Published under Cement NewsUltraTech Cement is to announce its Q4 and FY06 results. According to estimates, its Q4 net profit is expected to go up from Rs 4.94 crore to Rs 69.1 crore.UltraTech Cement is to announce its Q4 and FY06 results. According to CNBC-TV18 estimates, its Q4 net profit is expected to go up from Rs 4.94 crore (Rs 49.4 million) to Rs 69.1 crore (Rs 691 million). Its Q4 net sales are seen going up 30 per cent from Rs 725.8 crore (Rs 7.25bn) to Rs 943.3 crore (Rs 9.43bn). |