Cement News tagged under: corporate
Taiwan Cement sells properties to focus on core business04 July 2005, Published under Cement NewsTaiwan Cement Corp(TCC) will dispose of idle land lots and non-core business units across the board within the next five years, said the company’s chairman Chester Koo. The company noted it would first sell out idle land lots measuring 150 hectares worth tens of billion New Taiwan dollars to repay long-term debts and expand its territory in the cement sector. In the meantime, Koo has instructed the management of affiliated firms to speed up disposals of non-core businesses in tandem with ... |
Siam Cement reduces stake in Michelin Siam Group04 July 2005, Published under Cement NewsThe Siam Cement Group (SCC) has reached an agreement with the Michelin Group (of France) to reduce its stake in Michelin Siam Group from 40% to 10%, beginning Q4/05. This transaction is expected to result in a non-recurring income to SCC of approximately 3.3 Billion Baht over 2005-2008. In FY2004, Michelin Siam Group had sales of 16.3 Billion Baht, and had total assets worth 17 Billion Baht, with shareholders’ equity of 6 Billion Baht. Michelin Siam Group was formed as a joint venture bet... |
Qatar National Cement approves dividend04 July 2005, Published under Cement NewsThe board of the directors of the Qatar National Cement Co (QNCC) approved a 38 mln Qatari rials ($10.4m) interim cash dividend for the first half of 2005, local media reported on July 1, 2005. The dividend is equal to 20 per cent of the company’s capital. The dividend will be distributed among shareholders registered at the close of business on July 28, 2005. The company expects a 90 mln rials ($24.7m) net profit for the first half of 2005 compared to 96 rials ($26.4m) for the corresponding ... |
BK Birla to invest across group firms04 July 2005, Published under Cement NewsBasant Kumar Birla has intended has made up his mind to invest Rs 1200 crore across several of his group companies, including Century Textiles & Industries. The 85-year-old patriarch is confident that the future business plans will be implemented by the team of professionals managing the companies. The group recently announced its decision to expand the paper manufacturing capacity and denim capacity of Century Textiles & Industries for a total investment of Rs 550 crore. Group company Ke... |
Gujarat Ambuja June shipments up on year04 July 2005, Published under Cement NewsGujarat Ambuja Cements Ltd. , India’s third-biggest cement maker, said on Monday its June shipments rose 10 per cent on year to 1.09Mt. |
Aditya Birla June shipments rise04 July 2005, Published under Cement NewsAditya Birla group, India’s top cement producer, said on Monday June cement shipments rose 9.8 percent from a year ago to 2.26Mt. The Birla group, comprising flagship Grasim Industries Ltd. and UltraTech Cement Company Ltd. , produced 2.28Mt of cement in June, up 13.5 per cent from a year ago, the group said in a statement. |
CSFB raises stake in Cimpor again01 July 2005, Published under Cement NewsCimentos de Portugal (Cimpor) said that Credit Suisse First Boston has raised its stake in the company to 10.53 per cent after acquiring an additional 14.53 million shares, equivalent to 2.18 percent of Cimpor’s capital. Portugal’s largest cement group said CSFB now has the right to a representative on Cimpor’s board. |
Cementir acquires New Jersey-based Vianini Pipe01 July 2005, Published under Cement NewsCementir SpA said its Danish unit Unicon Sa is acquiring New Jersey, US-based Vianini Pipe Inc for Euro 12m from Vianini Industria SpA. In 2004, cement manufacturer Vianini Pipe had a net profit of US$2.2m, and sales of US$17.7m, Cementir said. ’The acquisition will allow the Cementir group to strengthen its position in the US, where it already has other units,’ it said. |
Cementos Molins invests Euro 90m in 200401 July 2005, Published under Cement NewsSpanish cement company Cementos Molins invested Euro 90m in 2004, the CEO of the company, Joan Molins, told a news conference on June 30, 2005. Of this, Euro 31m was spent on a new kiln in Mexico, which would begin operation in 2006. The kiln will be built at the Mexican cement company Corporacion Moctezuma plant, in which Cementos Molins holds 50 per cent. Cementos Molins also plans to build a factory in Sant Vicenc dels Horts, northeastern Spain. Molins said that the company would continu... |
Merckle now owns 31.45 per cent In HeidelbergCement29 June 2005, Published under Cement NewsHeidelbergCement AG shareholder Adolf Merckle, who is making a takeover offer to other shareholders, already owns a 31.45 per cent stake, according to the detailed conditions of the offering published Tuesday. Merckle holds 31.45 per cent in HeidelbergCement voting rights, both directly - through his control of Spohn Cement GmbH - and indirectly. Spohn Cement said two weeks ago it will offer HeidelbergCement shareholders Euro 60 a share for their stakes, valuing the company around EUR6.5bn... |