Cement News tagged under: corporate
Doha Bank launches zero per cent IPO loan28 March 2006, Published under Cement NewsDoha Bank has launched the Zero per cent IPO loan for the forthcoming Gulf Cement Company’s maiden public issue. The IPO loan is available to Qatari nationals applying for the Gulf Cement Company’s IPO. The Bank is financing maximum two-third of the IPO subscription amount. The Bank will not charge any interest for the initial period of two months by which the entire share allotment and refund process will be completed. In the event the loan continues to exist after two months period, Bank w... |
Lafarge interested in Semen Gresik27 March 2006, Published under Cement NewsLafarge SA has reportedly expressed its seriousness in buying Cemex Asia Holdings’s 25.53 per cent in PT Semen Gresik at market price. The serious commitment of Lafarge, confided one executive knowing about the transaction, was shown in a letter signed by President Director of PT Semen Andalas Thomas Patrick Ehrhart, a cement business unit of Lafarge in Indonesia. The official letter was received by State Minister for State Enterprises last week. Lafarge, a France cement giant that last year... |
CCI employees to agitate for revival of unit27 March 2006, Published under Cement NewsWorkers and employees of the closed Cement Corporation of India’s (CCI) Adilabad plant have threatened to launch agitations, including a fast unto death, as the unit has not been considered for revival. Addressing a press conference here on their return from New Delhi, CCI Employees Union president Rajanna and general secretary S. Vilas said that the unit’s case was not considered by the Board of Industrial and Financial Reconstruction (BIFR) at its meeting on March 21. This happened because... |
HeidelbergCement waits on Turkish decision27 March 2006, Published under Cement NewsHeidelbergCement is awaiting the results of a State Council decision to stop controversial move that denied its Turkish partner, Akcansa, the acquisition of a domestic cement company. In a tender held last year by the Savings Deposit Insurance Fund (TMSF), Turkish cement company Akcansa submitted the highest bid for the Ladik Cement factory. The Competition Board, which is responsible for maintaining a transparent and competitive business environment in Turkey, however refused to award the t... |
HeidelbergCement wants more consolidation27 March 2006, Published under Cement NewsHeidelbergCement AG believes it should play a major role in the consolidation of the cement industry and wants to make a further acquisition, CEO Bernd Scheifele said in an interview with Boersen-Zeitung. “We consider ourselves as a consolidator within the industry,” he said. He said the chances of a mega-merger amongst the top three companies in Europe: HeidelbergCement, Lafarge and Holcim -- is unlikely to happen but is a likely prospect for smaller family-owned firms. “Perhaps not among t... |
Cement Australia takes miner off the market27 March 2006, Published under Cement NewsThe parent company of Tasmanian coal miner Cornwall Coal has decided to keep the business. Cement Australia put the company on the market six months ago to see if there was a prospective owner who would be able to add more value to the operation. However, Cement Australia’s chief executive, Chris Leon, says after an exhaustive process, a decision has been made to keep the business. Cornwall Coal employs 69 people and operates two mines in the Fingal Valley. |
Holcim offer for Gujurat Ambuja delayed24 March 2006, Published under Cement NewsHolcim Ltd.’s open offer for Gujarat Ambuja Cements Ltd. , which was scheduled to open on March 25, will be delayed by a few days, a source close to the offer said on Friday. Holcim had bought a 14.8 per cent stake in Gujarat Ambuja for 21 billion rupees in January and had offered to buy up to 20 per cent more from public shareholders at 90.64 rupees each. The source did not indicate the reason for the delay. |
Yamama Cement seen more promise24 March 2006, Published under Cement NewsSaudi cement producer Yamama Cement Company expects a 50 per cent year-on-year increase in its net profit for the first quarter of 2006 to 150 mln Saudi riyals (US$40m), the company said on March 21, 2006. The forecast is based on strong sales figures since the beginning of 2006, with registered daily sales averaging 15,000t in the last few weeks. YCC will hold a general meeting on April 3, 2006 to propose a cash dividend of 30 riyals (US$8) per share for 2005, and a capital hike to 1.35 b... |
Florida Rock Industries announces Lake Belt ruling24 March 2006, Published under Cement NewsFlorida Rock Industries has announced that on March 22, 2006, the United States District Court for the Southern District of Florida ruled that several mining permits for the Lake Belt area in South Florida had been improperly issued. This ruling affects most of the 12 mining permits issued for this area, including the permit issued to the Company’s Miami quarry. The Court remanded the permitting process to the U.S. Army Corps of Engineers for further review and consideration. The Company exp... |
Holcim Romania higher turnover24 March 2006, Published under Cement NewsHolcim Romania expects its turnover to reach 190 million euros this year, although the sales were some 9-10 percent under the company’s estimates in the first quarter of 2006, the Ziarul Financiar says on Thursday. "We estimate a growth rate similar to that in 2005, of 14 per cent, if not higher," said an official of Holcim Romania Co. In the beginning of 2006, Holcim Co. announced it will earmark some 70 million euros this year for continuing the projects it started last year, includin... |