Cement News tagged under: corporate
IFC and Anhui Conch05 April 2006, Published under Cement NewsWashington DC-based International Finance Corp has agreed to pay a higher-than-anticipated price for a 3.7 per cent stake in China’s largest cement manufacturer, Anhui Conch Cement Ltd. An official at IFC said the price increase was due to "market and regulatory changes," without elaborating. IFC’s regional spokesman, Desmond Dodd, said the Anhui Conch investment follows an established pattern in which IFC sells bonds to a company before taking up an equity stake. The investor in October sol... |
Holcim New Zealand higher profit05 April 2006, Published under Cement NewsHolcim New Zealand reported a three per cent net profit increase and increased cement sales last year, despite rising energy costs and disruptions to shipping caused by a lengthy closure of the Buller River bar. The company’s net profit was $26.4m, compared with NZ$25.6m the previous year. Holcim NZ’s total sales increased eight per cent to NZ$307.4m in the year ended December 31, but the impact of increased costs was reflected in relatively small increase in earnings before interest and t... |
New Lafarge offer still too low05 April 2006, Published under Cement NewsA shareholder revolt against an attempted buyout of Lafarge North America Inc. (LAF) continues despite an enriched offer Lafarge SA made for the company on Tuesday. A pension fund that has been fighting the buyout said it is happy to see a new, higher bid, but still thinks the offer is too low. Lafarge SA on Tuesday bowed to pressure from increasingly vocal minority shareholders and raised its bid for Lafarge North America by 9.3 per cent in a move to win full control of North America’s... |
Titan Cement buys ready-mix in Florida04 April 2006, Published under Cement NewsTitan America LLC has bought two ready-mix concrete producers in Florida. Titan said the purchase of Metro Redi-Mix Co. and Elbrecht Concrete Inc. will enable the company to expand efforts to meet growing demand on Florida’s rapidly growing west coast. Titan gave no financial details for the purchase, which includes five ready mix plants. |
Capital Group slips under the wire04 April 2006, Published under Cement NewsHolcim Ltd has reported that The Capital Group Inc, based in Los Angeles now holds a 9.99 per cent stake in its shares, from 10 per cent previously. Swiss exchange law stipulates crossing a 10 per cent threshold requires official notification. |
Anhui Conch increases share price, China04 April 2006, Published under Cement NewsChina’s Anhui Conch Cement Ltd said Tuesday two strategic investors will pay 3.7 per cent more per share for the minority stakes they had agreed to buy in the Hong Kong and Shanghai-listed company in a deal totaling CNY1.27 billion. China’s largest cement producer said MS Asia Investment Ltd., a unit of Morgan Stanley (MWD), and the World Bank Group’s private-sector arm, the International Finance Corp., will pay its parent CNY7.05 a share for their stakes, up from the CNY6.80 a share reporte... |
Dalmacijacement net profit slumps04 April 2006, Published under Cement NewsCroatian cement maker Dalmacijacement-RMC Group, now owned by Cemex, said on Monday its net profit fell last year to 47.6 million kuna (US$7.9m) from 150.7 million kuna in 2004 (approx US$22m), due to high reorganisation and restructuring costs. |
Steppe Cement: profits rise, Kazakhstan04 April 2006, Published under Cement NewsSteppe Cement Limited operating subsidiary, Central Asia Cement JSC, has reported a full year pretax profit of KZT2562.5m compared with a year-earlier profit of KZT1590.9m. Consolidated net profit after tax for the year was noted at KZT1744.8m, being a 62.8 per cent increase on the KZT1071.5m returned for the year ended 31 December 2004. Based on the average exchange rate for the year ended 31 December 2005, the result for the 31 December 2005 year is equivalent to US$13,053,000. This co... |
CIMA suggests a smaller stake to Vicat03 April 2006, Published under Cement NewsCement Industries of Malaysia Bhd (CIMA) is keen to sell a share of its assets to French cement manufacturer VICAT SA but the stake may be smaller than the 51 per cent reported earlier, local news reports stated, quoting unnamed sources. CIMA may offer Vicat a smaller stake with a strong management presence in the running of its cement plants. |
China Resources to take its cement arm private03 April 2006, Published under Cement NewsChina Resources (Holdings) Co. Ltd. said on Monday that it plans pay HK$428m (US$55m) to take its cement arm, China Resources Cement Holdings Ltd, private. Through its wholly-owned Smooth Concept Investment Ltd, China Resources will offer HK$2.45 for each China Resources Cement share it does not already own, the company said in a statement. Shares of China Resources Cement surged nearly 30 percent to HK$2.35 shortly after the market opened. Trading in the stock resumed on Monday after it w... |