Cement News tagged under: corporate
Akmenes looks at expansion possibilities30 December 2005, Published under Cement NewsAkmenes Cementas , Lithuania ’s only cement manufacturer, is considering building a new production lin e costing around Euro 70m. Moreover, Mexico ’s Cemex, the leading global cement producer and the indirect owner of almost 40 per cent of Akmenes Cementas, is reportedly eager to raise the holding in the Lithuanian company to 100 per cent. Akmenes Cementas believes that Cemex would also make a contribution towards the building of new line despite... |
CRH solidifies position in the US30 December 2005, Published under Cement NewsThe year 2005 saw CRH complete three deals totalling €344m to further extend its exposure to the market. The first of these deals was for Kentucky and Virginia-based Mountain Companies which own largescale quarries of sand and gravel. It also took a 50 per cent stake in Bizzack, an affiliate of Mountain which specialises in heavy construction. The acquisition should position CRH well to pick up on any upturn in spending infrastructure in the region which lagge... |
Arabian Cement Co begins expansion30 December 2005, Published under Cement NewsArabian Cement Company (ACC) has started an expansion project at its plant in Rabigh, southwestern Saudi Arabia , the company’s deputy board chairman, Abdullah Mohammed al-Eissa, said in mid-December 2005. The project envisages the launch of an additional production unit with a daily capacity of 7000tpd tonnes. |
Jaiprakash to expand cement capacity30 December 2005, Published under Cement NewsJaiprakash Associates Ltd, the flagship company of the Jaypee Group of Industries, has decided to invest Rs 1,500 crore for expanding its cement capacities directly or through joint ventures. The board at its meeting held late-December approved to invest the amount in order to create new or enhance existing, already approved capacities of cement and cement products, directly or through joint venture special purpose vehicles. The Lucknow-based company informed the Stock Exch... |
Degussa acquires Chinese additive firm30 December 2005, Published under Cement NewsDegussa’s Chinese subsidiary announced Monday it has acquired all assets of Beijing Xinzhuang Huiqiang Admixture Ltd, a leading concrete additive producer in China . "After this acquisition, Degussa China will be able to provide latest technology and products developed locally to its customers in Beijing ," said Dr. Boris Gorella, President of Degussa Asia Pacific, Business Unit Admixture Systems. Degussa began to produce additives in China in... |
SEC may allow web-based shareholder activities28 December 2005, Published under Cement NewsThe US Securities and Exchange commission (SEC) is planning to allow and encourage shareholders to communicate on-line. The change is aimed at both the companies and investors, with companies expected to save millions by replacing all annual reporting and voting papers they mail out each year to shareholders with electronic reporting systems on-line via corporate websites. Likewise this same plan will effectively allow shareholders the right to communicate with each other on-line (presumabl... |
Turkey’s Oyak secures loan to buy Erdemir Steel28 December 2005, Published under Cement NewsTurkish banking-to-automotive group Oyak has secured a US$1.6bn loan from a group of banks to finance its purchase of domestic steel maker Erdemir, the group said in a statement. "This represents the first long-term acquisition financing in support of Turkey’s pending privatization deals and is a significant landmark financing deal in the Turkish financial markets," said Oyak. Oyak made the highest bid of US$2.77 billion in an auction in October for Erdemir, trumping international giants su... |
Eurocement Group implements new product/financial control system28 December 2005, Published under Cement NewsEurocement Group has set up a comprehensive information system to ensure control over the entire chain of product movement and financial flows as a result of an IT project utilizing the Parus branded software, developed in Russia. Work began in 2003, with seven out of 15 cement factories having this system: Maltsovsky Portlandcement, Katavsky Cement, Oskolcement, Mikhailovcement, Belgorodsky Cement, Kavkazcement and Lipetstcement. In 2006, all enterprises of the group will join the system. Th... |
MMK increases stake in Magnitogorsk refractory works28 December 2005, Published under Cement NewsOAO Magnitogorsk Iron & Steel Works has increased its stake in the charter capital of OAO Magnitogorsk Cement-Refractory Works in Chelyabinsk region from 72.93 per cent to 93.954 per cent, MMK said in an official statement late-December. According to the report, the share of common stock owned by MMK increased from 81.69 per cent to 96.255 per cent. |
Kuwait seminar for Iraq investment group26 December 2005, Published under Cement NewsKuwait seminar for Iraq investment group Global Investment House (Global) has held a special seminar at the Kuwait Stock Exchange (KSE) on listing Iraq Holding Company (IHC). Attending the seminar were, Mr. Mohammed AlNaki, IHC Chairman, Mr. Hussain Helmi, Finance and Admin Manager at IHC, and from Global Mr. Omar M. El-Quqa, Executive Vice President, and Mr. Mohamed Abdul Aziz, Financial Analyst, where they gave a detailed explanation of the company’s operations and financial data.... |