Cement News tagged under: corporate
Actis to invest in Dalmia Cement13 April 2006, Published under Cement NewsActis, a leading private equity investor in emerging markets, announced its intention to invest US$25m in Dalmia Cement (Bharat) Ltd (DCB), a manufacturer of cement in South India. In addition to DCB’s recent expansion to 3.5Mta cement capacity in Tamil Nadu and the ongoing development of its sugar business in Uttar Pradesh, the company has plans to grow through both acquisition and greenfield development. "We are seeing enormous progress happening in the infrastructure sector, and also... |
Limak bids for Gaziantep Cement13 April 2006, Published under Cement NewsLimak Kurtalan has made a bid of US$93.25m for rival cement company, Gaziantep Cement, which the Turkish Savings and Deposit Insurance Fund (TMSF) put out to tender for an estimated US$90m. The previous bid of US$128m from Sanko was not approved by the Competition Board. The details of companies that made the highest first and second bid offers will be referred to the Authority for consideration to finalise the tender. |
Ultratech Cement up on price hike13 April 2006, Published under Cement NewsUltratech Cement on Wednesday created its all-time high at Rs 773 on additional profit hopes because of the recent price rise. According to market sources, in the last one month price per bag has been at a hefty Rs27. Another bout of price escalation of around Rs 10 is understood to be on the cards by early May. "The current price level after the recent rise is likely to fetch an incremental profit of Rs 800 crore for the whole of 2006-07. Any further rise down the year would be an add-on,"... |
Italcementi wants to increase ownership in Goltas12 April 2006, Published under Cement NewsItalcementi is interested in increasing its stake the Turkish cement company Goltas, according to local reports. Italcementi has recently increased its stake in Goltas to 7.22 per cent by buying its shares on the stockmarket. Adnan Ignebekcili, chairman of Set Cimento, owned by Italcementi, said that Goltas was important for the Italian company, not only for its operations in Turkey but also for the operations in the Mediterranean region. He said that Italcementi would continue buying G... |
Prosperity heads for AIM12 April 2006, Published under Cement NewsProsperity Minerals, controlled by David Wong, the Hong Kong-based entrepreneur, is thought to be at an advanced stage with its AIM flotation plans. Sources told The Times last night that Prosperity had already appointed a nominated adviser and broker and was hoping to start share-trading on London’s junior market by June. A Prosperity spokesman admitted that a listing on the Alternative Investment Market “is something that we are actively considering”, but would not give further details... |
Republic Cement profit climb12 April 2006, Published under Cement NewsPhilippine producer Republic Cement Corp said its net profit for last year reached 909.3 million pesos, 14 per cent more than the 798.0 million pesos in made in 2004, aided by higher exports and selling prices. The company said net sales grew 6.3 per cent to 12.04 billion pesos, despite weak demand for cement in the domestic market. Operating expenses grew 20 perb cent to 1.17 billion pesos. "The decline [in domestic sales] is attributable to the reduction in government spending as a... |
TPI: further reduction in outstanding debt12 April 2006, Published under Cement NewsThai Petrochemical Industry Plc (TPI) reported a 65 per cent decline in its outstanding debts to 37.89 billion baht or around US$940m as of the end of March, the Bangkok Post reports. The petrochemical company had debt of US$2.7 billion when it entered court-supervised rehabilitation in 2000 as the country’s largest debt-restructuring case. The Central Bankruptcy Court will rule on April 26 whether the petrochemical and cement giant should be removed from the restructuring process as req... |
Shui On and Lafarge inject more cash12 April 2006, Published under Cement NewsHong Kong-listed Shui On Construction & Materials and Lafarge injected a further HK$155.2m (approcx US$25m) in cash into the companies’ Chinese cement joint venture, Shui On said Wednesday. Shui-On said the new cash injection will provide working capital for the joint venture’s cement operation in China. Shui-On said in a statement it put in an additional HK$69.8m while Lafarge invested an extra HK$85.4m in the joint venture, Lafarge Shui On Cement. The Hong Kong company has a 45 stake i... |
Italcementi to invest further in the US10 April 2006, Published under Cement NewsItalcementi has committed to investing US$320m into the development of its plant at Martinsburg in the US state of West Virginia. The investment will create 250 jobs over the next two years, during which the most advanced technologies will be installed at the plant. Italcementi’s CEO, Carlo Pesenti, has said that fears of a slump in the US market are exaggerated and should not put a stop to growth projects in the country, adding that the north-east, where Italcementi operates through its Ess... |
Cemex declines comment on Gresik sellback10 April 2006, Published under Cement NewsCemex has declined to comment on a report that it is offering to sell its 25.53 per cent stake in Indonesia’s largest cement maker PT Semen Gresik for US$500m. "Our policy is not to comment on it. Any comment should come from the government," Cemex Indonesia president Francisco Noriega told XFN-Asia. Bisnis Indonesia earlier quoted Industry Minister Fahmi Idris as saying Cemex has made such an offer but that the government is still considering whether to buy back the stake. "If we use the s... |