Cement News tagged under: corporate
Cementos Rezola, Hormigones y Minas post EUR102.8m turnover20 June 2005, Published under Cement NewsSpanish cement producer Cementos Rezola and concrete producer Hormigones y Minas, part of Spanish cement group Financiera y Minera (FyM), owned by Italian cement group Italcementi, posted a combined turnover of EUR102.8m for 2004. The turnover of the two companies, based in the Basque region, northern Spain, accounted for 35.5% of FyM’s consolidated sales. Cementos Rezola, which runs two cement factories in the region, in Arrigorriaga and Anorga, posted a turnover of EUR76.6m (US$92... |
FLSmidth Says Larsen & Toubro violates licensing deal17 June 2005, Published under Cement NewsFLSmidth A/S said it will take all actions necessary to prevent Indian company Larsen & Toubro Ltd from breaching alleged contractual obligations and alleged infringement of FLSmidth’s know-how and proprietary rights. FLSmidth said the action stems from the termination of a licensing agreement with L&T, with effect from November 2004. According to the agreement L&T has accepted not to utilise FLSmidth’s know-how and proprietary rights and to refrain from competition with FLSmidth for a... |
Saudi White Cement appoints new directors16 June 2005, Published under Cement NewsThe general shareholders’ meeting of Saudi Riyadh-based cement maker, Saudi White Cement Co Ltd, appointed on June 13, 2005 Prince Feisal bin Abdul Majid board chairman, local media said on June 14, 2005. The remaining newly-elected board members are Salah Rashid Abdul Rahman al-Rashid, Khaleefa Abu al-Lateef al-Molhem, Abdullah Bakar Radhwan, Naser bin Fadhl Aqeel, Jamal Hamd al-Sughair, and Hasan Mohammed Amr al-Attas. The meeting also decided to decrease the number of board members to sev... |
Sabanci Holding still interested in Uzan16 June 2005, Published under Cement NewsErhan Kamisli, head of Sabanci Holding cement group, said that the group company Akcansa was still interested in cement companies those were previously owned by Uzan Group and later on seized against the group’s debt to state. Akcansa is a joint venture between Sabanci and Heidelberg Cement. According to Kamisli, another group company Cimsa would also bid in the tenders to be held for the said cement companies. Recent media reports suggested that there are ten foreign and fifteen local invest... |
Italcementi shares jump 4% on back of exclusive talks with Asec15 June 2005, Published under Cement NewsItalcementi, the Italian cement and construction materials group, yesterday saw its share price jump 4.15 per cent to close at EUR13.30 in Milan, after announcing that it had signed an agreement to enter exclusive talks for 60 days to acquire a majority stake in Egypt’s Asec Cement. The news also boosted other cement groups’ shares in Milan. Competitors Buzzi Unicem and Cementir saw their share prices rise respectively by 5.9 and 2.52 per cent. |
Lafarge not to boost stake in Cimpor, Portugal15 June 2005, Published under Cement NewsLafarge does not plan to boost its stake in the share capital of Portuguese cement company Cimpor. Currently Lafarge controls 12.6% of Cimpor’s share capital with the respective voting rights. The two companies have also an agreement for cooperation in the development of joint projects in the technology sector. |
Saudi Arabian Cement Co Board recommends US$53.3m Capital hike14 June 2005, Published under Cement NewsThe management board of Saudi cement producer Arabian Cement Company (ACC) proposed on June 12, 2005 a 200m Saudi riyal (US$53.3m/€41.4m) capital increase to 800m riyals (US$213.3m/€165.5m). If approved, the capital hike will be carried out via a rights issue of four million shares. The shares will have a premium which is to be decided later, and will be available to existing shareholders at a one-for-three ratio. The meeting also approved a cash dividend payment of 8.0 riyals ($US2.13... |
Thai Kim Eng to advise on TPI Polene share sale13 June 2005, Published under Cement NewsKim Eng Securities (Thailand) has been chosen to advise Thai Petrochemical Industry (TPI) on selling its 30 per cent stake in cement maker TPI Polene, TPI’s debt administrator said. Kim Eng would propose details of an auction of the shares due in the last week of June, Trithip Sivakriskul, a member of TPI’s government-appointed management team, told Reuters. TPI , the country’s largest corporate defaulter which is restructuring US$2.7bn of debt, plans to raise US$250m from the auction.... |
Siberian Cement to place debut bond issue on June 1610 June 2005, Published under Cement NewsThe Siberian Cement holding company (Kemerovo) will begin placing a R800m debut bond issue on June 16. The first bond issue of the company was registered by the Federal Service for Financial Markets on May 24, 2005. The issue comprises 800,000 securities with a R1,000 nominal value. Maturity is three years. Securities will be placed at par value. The loan envisages six semi- annual coupons. The underwriter is the ZEenit bank, co- underwriter - Gazprombank. Siberian Cement plans to reinves... |
Thailand: Phatra Securities puts SCC on "buy" list10 June 2005, Published under Cement NewsSiam Cement has announced plans to reduce its holding in Michelin Siam Group from 40 per cent to 10 per cent by offloading to France’s Michelin Group prior to 2008, The Nation reports. The announcement is in line with the company’s plan to focus on core business and divest non-core business. The firm has also finalised its plan to invest in a 38-per-cent stake in a joint venture high-density polyethylene (HDPE) project in Iran with an annual capacity of 300,000tpa. Siam Cement will ... |