Cement News tagged under: corporate
James Hardie in dispute10 April 2006, Published under Cement NewsJames Hardie Industries will pursue discussions with the competition regulator to try to resolve a dispute over the supply of its building products in Australia. Hardie wants distributors to sign exclusive supply agreements for five of its new building products, such as weatherboard and flooring. However, the ACCC has formed the view that the proposed new distribution policy, the subject of the notification, would have the effect of substantially lessening competition in the market for the ... |
Gujarat eyes new investment plants10 April 2006, Published under Cement NewsHaving put its plans for acquisitions on the backburner, IndiaN cement major Gujarat Ambuja Cements Ltd will instead invest Rs1000 crore in new plants and capacity expansions, for which a strategy would be drawn up soon. "In this market, all sellers will be asking for the moon. There’s no point forking out huge amounts for future cash flows," sources at GACL said, explaining why acquisitions are not likely in the near term. |
Prospects for OCL India’s cement look sound10 April 2006, Published under Cement NewsOCL India appears well placed to benefit from the favourable industry dynamics in the cement sector. It has a presence in the eastern market where price have been firming up and are expected to stay that way over the next couple of years. Capacity additions in this region are likely to be limited and unlikely to cast a shadow on prices. OCL India plans to gradually scale up its capacities and this will ensure that capacity is not a constraint to its prospects for growth. There is a possibi... |
Pakistan stocks may tumble10 April 2006, Published under Cement NewsThe rally that made Pakistan’s stock market the best performer in Asia during the past five years was interrupted last quarter. Forecasts of slower profit growth and a cooling economy suggest further setbacks lie ahead. The KSE 100 climbed almost 800 percent in the past five years, the fourth-biggest rally of 77 global benchmarks tracked by Bloomberg. Stocks soared as Pakistan, under the leadership of President Pervez Musharraf, aligned itself with the US in the war on terror that followed ... |
Holcim may raise GACL stake07 April 2006, Published under Cement NewsHolcim, which has made an open offer for an additional 20% of the equity of Gujarat Ambuja Cements Ltd (GACL) after picking up 14.8% of the promoters’ stake, is likely to explore options - among them, creeping acquisition - to shore up its equity in the company (reports The financial Express). The open offer is being made at a price of Rs 90.64 per share, while the GACL stock ended the day at Rs 106.90 on the Bombay Stock Exchange. Consequently, the chances of shareholders opting for the ope... |
Cemex’s debt improves07 April 2006, Published under Cement NewsThe credit ratings of Mexican cement giant Cemex SA (CX) were lifted further into investment-grade territory Thursday by Standard & Poor’s following the "successful integration" of the RMC Group of the UK. S&P raised Cemex’s long-term corporate and senior unsecured debt ratings one notch to triple-B, with a similar adjustment in the company’s long-term national scale ratings to "mxAA+." "The rating action reflects the strong financial performance of Cemex during 2005 and the successful i... |
Government to buy-back Gresik06 April 2006, Published under Cement NewsIndonesian government will use the preemptive rights to buyback 25.53 per cent shares of PT Semen Gresik, Cemex Asia Holdings plan to sell. The Minister of SOE Sugiharto said the government, controlling 51% shares of the cement company, is consider the legal aspect of executing the preemptive right. "We have the preemptive right to bid the share before Cemex offers it to other buyers," he said yesterday. The minister said the government, supported by its lawyers, is reviewing the term ... |
Ciments Francais increases stake in Bursa Cimento06 April 2006, Published under Cement NewsBursa Cimento, a Turkish cement company, said that Ciments Francais purchased a total of 317,053 units of company shares at the price of TRY 22.66 per share between Mar 31 and Apr 3. Following the transaction, Ciments Francais’ stake in Bursa Cimento rose to 5.09 per cent from the previous 4.19 per cent. |
Dubai firms announce $19bn Morocco projects06 April 2006, Published under Cement NewsDubai-based developers, Emaar Properties and Dubai International Properties DIP), yesterday announced projects worth US$18.9 billion in Morocco, part of a commitment exceeding US$20 billion (Dh73 billion) by UAE investors over 10 years. Mohammad Abdullah Al Gergawi, UAE Minister of State for Cabinet Affairs and Chairman of Dubai Holding, the parent company of DIP, and Mohammad Ali Al Abbar, Chairman of Emaar, have signed memoranda of understanding with their partners for eight major mixe... |
Holcim open offer for GACL starts today05 April 2006, Published under Cement NewsHolcim’s offer to acquire an additional 20.3 per cent of Gujarat Ambuja Cement Ltd (GACL) at Rs 90.64 per share from the retail investors will open on Wednesday. Holcim, which controls 14.8 per cent in GACL, has made this obligatory offer as the Swiss company will obtain management control of the cement company. It is open for 20 days till April 24. On Tuesday, the GACL stock on the BSE witnessed muted reaction from investors as the scrip ended 1.3% lower at Rs 105. On March 29, during t... |