Cement News tagged under: corporate
Indocement proposes to refinance US$380m outstanding debt28 February 2006, Published under Cement NewsCement maker PT Indocement Tunggal Prakarsa said it is proposing to exit an existing master of facilities agreement (MFA) with creditors, which is regarded burdensome, by refinancing and hedging an outstanding US$380m debt. To further ease the debt costs, the company will seek corporate guarantee from its parent HeidelbergCement AG, it said. The existing MFA, signed with creditors including Heidelbergcement Finance BV and Japan’s Marubeni, requires Indocement to keep a sizeable cash b... |
JK Cement fixes share offer price at Rs 148 per share28 February 2006, Published under Cement NewsJK Cement Limited today announced the issue price of Rs 148 per share for its two crore equity shares of Rs 10 each. The company entered the capital markets for the issue in price band from Rs 145 to Rs 155 per share. The issue was subscribed 1.8 times while the QIB portion was subscribed 2.99 times, company said in a release here. |
Chinese Building Material giant raising US$149m in IPO28 February 2006, Published under Cement NewsChina National Building Material Group Corporation (CNBM), China’s largest building materials manufacturer, plans to raise about 1.2 billion yuan (US$149.1m) in the initial public offering (IPO) on the Hong Kong Stock Exchange at the end of March, sources close to the deal told China Daily. A company executive refused to elaborate on the IPO, but said the proceeds gained from the listing will be used to fuel its expansion. "The company needs to absorb funds in order to catch up with... |
FLSmidth seen posting 2005 profit28 February 2006, Published under Cement NewsDanish engineering group FLSmidth, is seen returning to profit after growing demand for new cement capacity from North America, Africa and the Middle East eased competition and boosted profitability last year. The average forecast in a Reuters poll of five analysts of full-year 2005 earnings before interest and taxes (EBIT) was DKr345m (US$54.77m) compared to an operating loss of DKK196m in 2004. FLSmidth is riding wave of increasing demand for cement and won a contract to deliver a ... |
ACC sells 50 per cent stake in Everest, India27 February 2006, Published under Cement NewsThe Associated Cement Companies Limited has informed the exchange that they have sold 74,00,020 shares aggregating to 50% of the total paid up capital of Everest Industries Limited on February 22, 2006. The mode of sale is the shares have been transferred on February 22, 2006 to Everest Finvest (I) Pvt. Ltd., pursuant to the share purchase agreement, dated October 14, 2005, after completion of open offer requirements and the shareholding of the ACC after the said sale is 27,01,980 shares aggr... |
Dadabhoy Cement Industries, Pakistan27 February 2006, Published under Cement NewsThis 27 year old cement manufacturing unit of Nooriabad (Sindh) has been able to move upward towards revival from massive loss of PKR 666m three years ago. This has generated lot of confidence among all of its stakeholders in this enterprise which is manifest from high market value of its share, and all time high cement sales, output and profit. The accumulated deficit has drastically been reduced although capital deficiency remains. However financial backbone of the company has further s... |
Lafarge says buy-out offer for N.America unit ‘fair’24 February 2006, Published under Cement NewsLafarge on Thursday said its $75-a-share cash offer to buy out minority shareholders in Lafarge North America Inc. was "fair". The world’s biggest cement maker this week launched a tender offer for the 46.8 per cent it does not already own in its North American business as part of a $3bn offer that expires on March 20. The move is aimed at streamlining the group’s operations and enhancing earnings. "We have just launched our offer and we think the price is fair and reasonable," C... |
Portland Valderrivas boosts earnings23 February 2006, Published under Cement NewsCementos Portland Valderrivas, the cement subsidiary of Spanish construction group FCC, posted a net profit of Euro 137.1m last year, up 7.8 per cent, on ebitda (gross operating earnings) of Euro 312.3m, up 15.8 per cent, and sales of Euro 978.4m, 10.3 per cent higher. The rise in ebitda was a consequence of an improved operating margin. Turnover growth, meanwhile, was a result of increased business in Spain, where sales were up 12.1 per cent, and the US, where growth stood at 2.7 per cent.... |
Sinai Cement appoints Vicat head23 February 2006, Published under Cement NewsEgyptian Sinai Cement Co appointed Louis Jacques Merceron Vicat a management board member, the company board decided on February 19, 2006. The appointment comes after Danish industrial group FLSmidth & Co sold its 7.5 per cent stake in Sinai Cement to Vicat Egypt Cement Company in September 2005. Sinai Cement has an authorized capital of 1.0 bln pounds ($174.3m) and an issued capital of 350 mln pounds ($61m). It was established by private investors in 1998 and was listed on the Cairo and... |
Bolu Cimento posts higher profits22 February 2006, Published under Cement NewsTurkish cement producer Bolu Cimento posted a 38 mln lira (US$27.9m) net profit in 2005, up from 21.7 mln lira (US$15.9m) in 2004. Gross profit was 50 mln lira ($36.8m). Net sales revenue stood at 127.9 mln lira ($94.2m). Earnings per share (EPS) were 0.3 lira ($0.22). Bolu Cimento is majority owned by the cement division of Turkish army pension fund Oyak. |