Cement News tagged under: corporate
No plan to raise Gujarat Ambuja open offer price, India17 March 2006, Published under Cement NewsHolcim Ltd said Thursday that it has no plans to raise its open offer price of INR90.64 a share for Gujarat Ambuja Cements Ltd. "There are no plans to raise the open offer price," a Holcim spokesperson told Dow Jones Newswires, adding, "the offer is fully priced." The spokesperson was replying to a query on a report that appeared in The Hindustan Times newspaper Thursday that quoted unnamed sources as saying that Holcim was considering raising the offer price to upwards of INR110 a sh... |
Court upholds ruling on Cemco tender16 March 2006, Published under Cement NewsThe Philippine Court of Appeals (CA) has junked the bid of Cemco Holdings to overturn an order of the Securities and Exchange Commission (SEC) to conduct a tender offer for the 45 million shares of publicly listed Holcim Philippines, formerly the Union Cement Corp. (UCC). The appellate court’s special 10th division upheld the claims of the National Life Insurance Co. (NLIC), a minority stockholder of UCC, that the SEC has the primary and exclusive jurisdiction over its dispute with Cemco... |
Hanson shares hit record on break-up, bid talk16 March 2006, Published under Cement NewsShares in Hanson Plc surged to an all-time high on Wednesday on market talk of a bid for the building materials supplier from France’s Lafarge, adding to rumours the firm might separate its US business. "We have heard Lafarge could be about to bid for Hanson. It has been rumoured before," a London-based trader said. Another dealer cited break-up talk as the main reason behind the share price move. "There’s a real feeling that they’re going to uncouple their US business, which would get ... |
Saudi QCC Director General resigns16 March 2006, Published under Cement NewsThe management board of Saudi cement producer Qassim Cement Company (QCC) has accepted the resignation of the company’s director general, Khaled Saleh al-Mudaifar, the company said on March 12, 2006. Al-Mudaifar joined QCC almost 13 years ago, said board chairman, Prince Abdul Rahman al- Abdullah al-Faisal al-Saud. Al-Mudaifar’s last working day as QCC director general will be March 31, 2006. The reasons for the resignation were not disclosed. |
World Bank Supports urban service delivery in Karnataka16 March 2006, Published under Cement NewsThe World Bank has just approved a US$216m loan to finance the delivery of urban services in the state of Karnataka, India, through enhancing urban infrastructure, and improving the institutional and financial frameworks at the state and local levels. The Karnataka Municipal Reform Project is designed to support an evolving process of urban reforms in Karnataka that focus on large-scale restructuring of urban governance and management. These reforms are expected to result in the creation of... |
EBRD to approve $10m credit for Garadagh16 March 2006, Published under Cement NewsA US$10m credit for the second stage of reconstruction of Garadagh Cement, Azerbaijan, will be approved by the Council of Directors of the European Bank for Reconstruction and Development (EBRD) on 26 April 2006. Total budget of the project is estimated in US$13.3m, of which US$10m will be provided by EBRD, European bank said. Reduction of environmental pollution is one of the major aims of the project. The cement factory agrees to conduct the dispersion techniques in accordance with the EU... |
Chia Hsin earnings plunge15 March 2006, Published under Cement NewsChia Hsin Cement Greater China Holding is boosting its export business after earnings plunged 99.2 per cent last year. The Taiwanese-run cement manufacturer yesterday reported that net profit fell to US$103,000 last year from US$14.69m in 2004, although revenue rose 11.6 per cent to US$91.48m. It blamed surging fuel costs and macroeconomic curbs on the mainland for the result. "The cement market has bottomed out, and recovery, which started in the second half of last year, is expected t... |
Torah Portland Cement’s net profit up fivefold15 March 2006, Published under Cement NewsEgypt’s Torah Portland Cement made a net profit of 763 million Egyptian pounds (US$133m) in 2005, five times more than in 2004, the company said in results published on Tuesday. Net profits in 2004 were 153 million pounds, it said. HC Brokerage’s research department said the net profit included 608 million pounds from the sale of long-term investments, including 7 per cent of Suez Cement, 10.3 percent of cement company ASEC and stakes in two other ASEC firms. The profits are equival... |
CRH abandons bid to sit on Uniland board15 March 2006, Published under Cement NewsCRH, the Irish construction materials group, gave up its bid to secure three seats on the board of Spanish cement company Corporacion Uniland yesterday, claiming that it did not wish to collaborate with the current board. At a shareholders’ AGM, originally scheduled to discuss CRH’s request, the Irish group proposed to shareholders that action be taken against the board for five reasons, chief among them the fact that the board was holding talks to sell the 73.7 per cent stake in Uniland not... |
Saudi Qassim Cement books US$75.1m profits15 March 2006, Published under Cement NewsSaudi cement producer Qassim Cement Company (QCC) posted a net profit of 281.5 mln Saudi riyals (US$75.1m) for 2005, up from 246.6 mln riyals (US$65.6m) a year ago. QCC’s total assets stood at 1.631 bln riyals ($435m) at the end 2005, up from 1.266 bln riyals ($338m). Shareholders’ equity stood at 1.187 bln riyals ($317m) at end-2005. |