Cement News tagged under: corporate
Tonghua Special Cement to list in Singapore next year16 December 2005, Published under Cement NewsTonghua Special Cement Co Ltd, which is based in Jilin province of China, has announced that it plans list on the Stock Exchange of Singapore (SES) early next year, according to China’s Ministry of Commerce Special Commissioner’s Office in Dalian province. Tonghua Special Cement will be, as reported, the first non-state-owned Chinese enterprise to be listed in SES and has met the necessary requirements to do so. Companies seeking to be listed on the SES must meet the requirement of mai... |
Tata Steel to acquire 40 per cent stake in Thai Millenium Steel16 December 2005, Published under Cement NewsTata Steel said it has signed an agreement with Thailand’s Cementhai Holding Company, a Siam Cement Group company, for acquiring its 40 per cent stake in Millennium Steel. The company will purchase an additional 24.9 per cent by fresh issue of equity shares, subject to shareholders approval, the steel major informed the Bombay Stock Exchange. The value of 100 per cent equity of Millennium Steel as ascertained for the transaction is approximately US$175m, it said. The company will... |
Semen Padang reports higher net profits15 December 2005, Published under Cement NewsPT Semen Padang, a unit of PT Semen Gresik, Indonesia, set the target of net profit of IDR212bn, representing an increase of 56.15 per cent from the net profit target of this year as much as IDR135.91bn. The cement manufacturing company also targeted to book total sales of IDR2.74 trillion or increase by 29 per cent from this year’ sales target of IDR2.11 trillion. The sales volume target of the company, meanwhile, was 5.32Mt, compared to an actual 5.1Mt. The President Director of Semen P... |
Cementos Portland stands firm on Lemona offer15 December 2005, Published under Cement NewsCementos Portland Valderrivas, the cement division of Spanish construction and services group FCC, has declared that it will stand firm on its takeover offer price for peer Cementos Lemona despite the target company’s plans to pay out a dividend. Cementos Lemona has announced that it aims to pay its shareholders a dividend of 0.17 euros per share. |
Positive outlook on Fujairah15 December 2005, Published under Cement NewsFujairah Cement Industries (FCI) is one of the seven listed cement companies operating in UAE. It has its plant in Fujairah, UAE, with clinker capacity of 1.6Mt and cement capacity of 1.75Mt. The company produces various types of cement, such as ordinary portland cement, sulphate resisting cement, moderate sulphate resisting cement, oil well cement and blast furnace slag cement. FCI is planning to expand its cement capacity by another 0.65mt, to be commissioned by the middle of the next year.... |
ACC buys Tarmac India14 December 2005, Published under Cement NewsAssociated Cement Companies Ltd. (ACC) said on Wednesday it had acquired 98.84 percent of Tarmac India Pvt Ltd. for 124 million rupees ($2.7m). Tarmac India is a subsidiary of Tarmac UK, an Anglo American Plc group company, and owns two ready mix concrete plants in and near Mumbai. |
Lafarge Malayan: share buy-back14 December 2005, Published under Cement NewsLafarge Malayan Cement Bhd reports it has bought back 1.2m shares at prices ranging from M$0.60 to 0.62 a share, for a total of M$741,085.27 (approx US$0.2M) on December 13. In a filing to Bursa Malaysia, the company said that following the purchases, the number of shares retained in treasury stands at 31m. |
Budindustria increases cement production14 December 2005, Published under Cement NewsIn November, the Bakhchysarai-based Budindustria factory, the largest cement producer in the Crimea, increased cement production by 3.3 per cent or 1300 tons compared with November 2004, to 40,900 tons. According to reports, in November the plant increased clinker production by 8.9 per cent or 2300t to 28,200t compared with November 2004. The enterprise finished 2004 with a net profit of UAH 9.8 million, having increased its net revenues by 107.7% or UAH 8.927 million compared with 2003, ... |
Loma Negra signs for syndicated loan14 December 2005, Published under Cement NewsArgentine cement company Loma Negra has signed a contract for a syndicated bank loan for a total of 295mn pesos (US$98.1m), the firm announced in a statement to the Buenos Aires stock exchange. The funds will be used to make a partial early repayment offer for its series 3, 4, 5 and 6 bonds currently in circulation, the company said. Loma Negra, Argentina’s leading cement producer, was acquired by Brazilian firm Camargo Corrêa when the latter signed an agreement to purchase Holdtotal, the h... |
Dyckerhoff seeks acquisitions in Russia14 December 2005, Published under Cement NewsCement manufacturing firm Dyckerhoff AG is seeking acquisitions in Russia and neighbouring countries as part of the company’s strategy to reduce its dependence on the German market, chief executive Wolfgang Bauer said in an interview with Boersen-Zeitung. Bauer also said the company plans to increase earnings next year, but he did not give details. ’Business in the rapidly growing East European market is particularly attractive,’ he said. He said any acquisition in Russia would be expensi... |