Cement News tagged under: corporate
Lafarge manoeuvres may prove costly14 March 2006, Published under Cement NewsLafarge SA will have to pay at least US$85 per share if it is serious about acquiring the rest of its North American subsidiary Lafarge North America Inc. (LNA), say sources. A week ago, LNA asked its parent for more time to consider the US$75-per-share squeeze-out offer, and Lafarge pushed the deadline back to April 3. In early February Lafarge SA announced it would launch a tender for the 46.8 per cent of US$6 billion market cap LNA it does not own. Shares of LNA jumped nearly 30 per ... |
Kashash Cement: board of directors selected14 March 2006, Published under Cement NewsAccording to “Tehran Times”, the board of directors of Khash Cement Company have been selected in a meeting at the Venus Hotel. Representatives from Fars & Khuzestan Cement Co., Oil Pension Fund, Bojnurd Cement Co., Abyek Cement Co., Omid Investment Co., Sepahan Oil Co. and the managing director of Khash Cement Company Amini were present at the meeting. Finally, the first four were announced as the main shareholders of this new cement company in the township of Khash, which is located near Z... |
Saudi Yamama Cement posts higher profits14 March 2006, Published under Cement NewsSaudi cement producer Yamama Cement Company (YCC) posted a net profit of 500.9 mln Saudi riyals (US$133.6m) for 2005, down from 542.2 mln riyals (US$144.6m) for 2004. The 2004 profit included extraordinary income of 144.8 mln riyals (US$38.6m) generated from the sale of YCC’s stake in the Saudi Industrial Investment Group (SIIG) in April 2004. |
WAPCO to pay dividends14 March 2006, Published under Cement NewsAhead of its upcoming annual general meeting, West African Portland Cement PLC, a subsidiary of Lafarge SA Group, says it will pay about N900 million dividends to shareholders for the last financial year after three years of non payment of dividend. The company’s Finance Director, Mr.Wole Adeleke, who disclosed this to newsmen weekend in Lagos, said the proposed dividend was in line with the promises the Board made to shareholders last year when WAPCO’s Rights Issue of 1,286,400,004 ordin... |
Vicat 2005 profits climb, France13 March 2006, Published under Cement NewsFrench building materials group Vicat SA posted a EUR 232m consolidated net profit for 2005, an upsurge of 28.7 per cent YoY. Operating profit grew by 20.1 per cent, to EUR 356m with the respective margin climbing to 19.7 per cent, from 18.3 per cent a year earlier. Vicat closed the year with a turnover of EUR 1.8bn up 11.5 per cent. The management proposes a Euro 1.90 dividend per share, 22.5 per cent higher than the dividend for the previous year. |
Actis to buy stake in Dalmia Cements13 March 2006, Published under Cement NewsPrivate equity fund Actis is set to acquire an 11 per cent stake in India’s Dalmia Cements (Bharat) Ltd for US$25m, the Business Standard newspaper reported Monday. The UK-based fund will invest in Dalmia Cements through a subscription to newly issued equity shares, said the paper, citing an unnamed source close to the deal. Dalmia Cements plans to raise INR7bn through issue of new shares, with the proceeds to be used to finance part of the company’s plan to increase capacity at its ce... |
Italcementi to invest in its Bulgarian plants13 March 2006, Published under Cement NewsItalcementi, plans to invest EUR 10m in its two plants in Bulgaria in the next five years to expand its production range of dry building mixtures and introduce new products, a Bulgarian daily reported on Friday. Italcementi owns the Devnya cement plant, located near the Black Sea city of Varna, and cement maker Vulkan in southern Bulgaria. Italcementi will build a dry mortar installation, quartz sand units and six ready-mix units throughout the country, Sofia-based Dnevnik daily quoted... |
Argos agrees to buy US Concrete Co13 March 2006, Published under Cement NewsCementos Argos SA, Colombia’s biggest cement maker, agreed to buy RMCC Group Inc, a US ready-mixed concrete supplier, for US$435m, RMCC’s controlling shareholder said Friday in a statement. RMCC is the leading provider of ready-mixed concrete in southern Virginia and owns a network of cement plants and a fleet of mixing trucks, the statement said. Audax, a private equity group, bought RMCC in November 2004. The transaction is expected to close during April after approval of regulators... |
Plan to revive CCI13 March 2006, Published under Cement NewsThe Indian government has cleared the proposal for reviving three public sector units, including Cement Corporation of India (CCI). For reviving the CCI the government will waive Rs 886.22 crore of interest payment and provide an assistance of nearly Rs 183 crore. Under the package, CCI will have to close down seven of its non-operating units and modernise its Bokajan, Tandur and Rajban units at a cost of Rs 141 crore. |
New Board for Eastern Province10 March 2006, Published under Cement NewsSaudi cement producer Eastern Province Cement Company (EPC) has elected a new board of directors with a three-year term starting from January 29, 2006. The newly elected board members are Prince Turki bin Fahd bin Abdul Aziz Al Saud, Ahmad Abdullah al-Zamil, Abdul Mohsen al-Ruwaishid, Saad al-Muajjal, Ibrahim al-Subai, Abdul Rahman al-Musa, Hammad al-Duwasri, and Bandar al-Waili. The company posted a net profit before Zakat of 309 mln Saudi riyals ($82.4m) for 2005, up 12 per cent year-o... |