Cement News tagged under: corporate
Andhra Cem in talks to place 15 per cent stake, India23 August 2005, Published under Cement NewsGouri Prasad Goenka is in advanced stage of discussions for a private placement of close to 15 per cent stake in Andhra Cements. Goenka confirmed that talks were on but said nothing was finalised yet. Andhra Cements has plants in Vijayawada and Vishakapatnam and markets its products under the trade name ’Durga’. During 1989-90, there was a sharp decline in clinker and cement production owing to erratic and inadequate supply of coal, paucity of working capital, continuous power cut. In ... |
Siam Cement names new president22 August 2005, Published under Cement NewsThe board of Siam Cement, Thailand’s largest industrial conglomerate, has, as expected, appointed Executive Vice President Kan Trakulhoon as its new president, replacing Chumpol NaLamlieng, who will retire. The appointment will take affect on Jan. 1, 2006. |
Holcim Cesko buy-out bid22 August 2005, Published under Cement NewsHolcim plans, which controls 96 per cent in its Czech unit Holcim Cesko, will launch a buyout bid for the remaining shares in the company, it was announced on August 16, 2005. Holcim will offer Holcim Cesko shareholders 2328 crowns ($100/80 euro) per share. Holcim Cesko’s extraordinary shareholders’ meeting will discuss the bid at the end of August, 2005. Holcim owns the Czech company through its German unit Breitenburger Auslandbeteiligungs GmbH. |
PCLA allocates profits to its investment fund22 August 2005, Published under Cement NewsShareholders of cement producer Povazska Cementaren, Ladce (PCLA) decided to allocate 89.4 per cent from its last year’s profit into its investment fund. From the total taxed profit that reached SKK177 million last year, this sum represents SKK158.3 million. The company will transfer SKK 17.7 million to its reserve fund and further SKK 1 million to its social fund. The annual general meeting of shareholders was held on June 28. During the whole of last year the company registered sales of its... |
Titan expected 1H rise19 August 2005, Published under Cement NewsGreece’s Titan Cement is expected to announce a rise in first half year EBITDA of 2.2%under IFRS next Friday on the back of growth from its US and Balkan operations, offsetting weak post-Olympic sales in Greece. EBITDA is seen rising to EUR147.4m from EUR144.2m same time last year, with forecasts ranging between EUR142.1-153.2m, according to three leading analysts. However, net profit is expected to edge lower to between EUR78.0-79m with forecasts ranging between EUR70.2-81.5m. Sales are... |
Merckle raises HeidelbergCement stake to 76%19 August 2005, Published under Cement NewsThe takeover vehicle of German billionaire Adolf Merckle, Spohn Cement, and its affiliates now control 76 per cent of HeidelbergCement after buying more of the cement maker’s shares from the market. Spohn said in a statement on Thursday it had bought 13.2 million shares at between EUR59.7 and 59.73 a share on August 17 on the stock market. Spohn and its affiliates already owned more than 71 per cent of HeidelbergCement shares following the conclusion of its 60-euro a share offer on August... |
Italcementi wins 98.5% acceptances in ASEC Cement bid19 August 2005, Published under Cement NewsItalcementi SpA’s takeover offer for ASEC Cement has won acceptances totaling 98.5% of the Egyptian company’s capital, a financial source said. The figures are preliminary, the source said, adding that final and official data are due next week. The bid, which closed yesterday, was carried out by Suez Cement Company, a 57%-owned unit of Italcementi’s overseas asset holding Ciments Francais SA. |
JP Morgan may pick up 25% in Binani Cement19 August 2005, Published under Cement NewsAn equity fund controlled by JP Morgan Chase is likely to pick up 25 per cent stake in Binani Cement for around Rs 150 crore. JP Morgan’s restructuring fund, it is learnt, will invest in the cement arm of Binani Industries, which is in the midst of doubling its capacity to 4Mt. Binani Industries chairman and managing director Braj Binani is likely to be in the city next week to finalise the deal, which would value Binani Cement at around Rs 600 crore. JP Morgan’s fund may pay close to Rs ... |
Italy Mediobanca cuts stake in Ciments Francais to 4.98%19 August 2005, Published under Cement NewsItalian investment bank Mediobanca reduced its stake in French cement maker Ciments Francais SA, a subsidiary of Italian cement group Italcementi, to 4.98%. Mediobanca now has 2.93% of voting rights in Ciments Francais. Mediobanca held a 8.42% stake in the French company at the end of 2004, compared to 11.46% held at the end of June 2004. On February 28, 2005, Mediobanca increased its stake to 10.66 pct, or 6.28% of the company’s voting rights.(ANSA) |
New State Cement’s chief appointed19 August 2005, Published under Cement NewsThe ministry of industries and production has appointed MP Gangwani as chairman State Cement Corporation of Pakistan, an official announcement said. "Mr Gangwani has 36 years of experience in cement industry and has remained managing director of Javedan Cement, Thatta Cement and Associated Cement Rohri," said the statement. |