Cement News tagged under: corporate
Cement Association of Canada23 June 2005, Published under Cement NewsFrançois R. Lacroix, President of the Cement Association of Canada (CAC) is pleased to announce that the CAC Board of Directors has selected Mr. Alan Kreisberg as Chairman of the Board, effective May 1, 2005. Alan Kreisberg, President of Lafarge North America, Western Region Cement Division is a longtime veteran of the cement industry. He has been involved in the design, operation and management of cement plants for over 25 years. Originally from New York, Mr. Kreisberg obtained his Bachelor... |
Philippine exchange lifts trading suspension order23 June 2005, Published under Cement NewsThe Philippine stock exchange said trading in shares of Fortune Cement Corp is to resume today after the company submitted additional information on its planned merger with another Philippine cement maker, Continental Operating Corp. The stock has been suspended since June 15 and last closed at 0.62 pesos. Fortune Cement, which will be the surviving entity, said the merger with Continental will improve cost efficiencies and widen the two companies’ market reach on the main Philippine... |
HeidelbergCement says Merckle and others will sell shares23 June 2005, Published under Cement NewsHeidelbergCement AG has placed advertisements in the German Boersen-Zeitung stating that Adolf Merckle and the Koetitzer Ledertuch und Wachstuch Werke AG both reduced their shareholding in the cement maker below the 10 per cent level. It said that Merckle informed HeidelbergCement on June 16 that his shareholding declined to four per cent from an unspecified amount in excess of 10 per cent. Koetitzer Ledertuch und Wachstuch Werke informed HeidelbergCement on June 15 that its shareholding... |
Mysore Cement funds23 June 2005, Published under Cement NewsIn Calcutta, India, The Mysore Cement board today agreed to raise a maximum of Rs20 crore by way of equity or other instruments to bolster the company’s finances. It will now seek the shareholders’ approval in the annual general meeting on September 29. The company has decided to retain all the options, including other financial instruments, to raise the sum. It may also make preferential placement to the promoters and persons acting in concert according to Sebi guidelines. The promote... |
Heracles sees profits rise22 June 2005, Published under Cement NewsGreek cement producer AGET Heracles, majority-owned by France’s Lafarge, is expected to include in its 2005 financial results an extraordinary profit of Euro 44m it was reported on June 21, 2005. The sum refers to indemnities to be paid by the state. AGET Heracles ended 2004 with a 2.4 per cent rise in sales to Euro 592.5m Pre-tax profit fell to Euro 116m for 2004 from Euro 127m the year before. Sales and profit for 2004 reduced year-on-year after the end of the preparations of the Athens 2... |
Italcementi Group to invest in three Bulgarian subsidiaries22 June 2005, Published under Cement NewsItalcementi Group will invest $20m in its three subsidiaries in Bulgaria - cement plants Devnya Cement and Vulkan and transport company Lyulyaka, a company official said. Italcementi Group will invest $20m by 2007 in the upgrade and replacement of cement mills, in safety and environment protection and in diversification of construction mixtures. So far Italcementi Group has intested $160m in Bulgaria, $68m of which in acquisition of production units in the country and the remaining funds in... |
Russian Eurocement Sets Up Subsidiary in Ukraine22 June 2005, Published under Cement NewsRussian major cement producer Eurocement Group set up a subsidiary in Kiev, Ukraine, under the name Eurocement Group-Ukraine, it was reported on June 21, 2005. The new subsidiary will manage the group’s two cement plants in Ukraine. The Antimonopoly Committee of Ukraine recently authorised Eurocement Group to acquire controlling stakes in Baltsem and Pushka cement plants. Eurocement Group seeks to invest some $27.5m in the modernisation of the two Ukrainian plants by 2007. |
Capital group Cuts Holcim stake21 June 2005, Published under Cement NewsSwiss cement producer Holcim Ltd said that The Capital Group now holds 22,844,158 of its shares. This corresponds to a stake of 9.94%, down from just above 10% previously. |
Cemex SA Sees 2Q EBITDA exceeding $970m20 June 2005, Published under Cement NewsCemex expects to exceed its full-year target of $3.5bn in EBITDA. In April, Cemex raised its 2005 EBITDA estimate to US$3.5bn from US$2.6bn to reflect the March acquisition of RMC Group of the UK. The company’s 2004 EBITDA was $2.54bn. In a press release Monday, the maker of cement and ready-mix products said it expects second-quarter EBITDA of more than $970m, a 53 per cent rise from year-earlier EBITDA of $635m. Cemex also forecast second-quarter revenue of about $4.4bn, comp... |
CRH ’could face a €5bn takeover bid’20 June 2005, Published under Cement NewsCRH could be "vulnerable" to a takeover bid, according to its stockbroker Davy, which feels that €8 a share is not out of the question. Such a price would represent a 27pc premium over yesterday’s closing value of EUR2.10, valuing the international building materials group at EUR5bn. A bid coming in for CRH at that level would easily eclipse previous Irish takeover records. The broker wrote to clients last Tuesday arguing how the CRH share price had been left behind in a sector tha... |