Cement News tagged under: corporate
Cement and concrete group has come a long way to be on hold.10 June 2005, Published under Cement NewsHanson, the company that made its name in the 1980s as an acquisitive corporate raider before "conglomerate" was a dirty word, is now a more down-to-earth business. Aggregates, cement and ready-mix concrete form the basis of a group that is worldwide but is much more focused than in the swashbuckling days of Lords Hanson and White. The main drivers of the share price in the past couple of years have been asbestos litigation and the international consolidation of the building materials ind... |
Taiwan Cement May parent sales 2.39 bln twd vs 2.41 bln10 June 2005, Published under Cement NewsTaiwan Cement Corp its parent sales in May fell to 2.39bn twd from 2.41bn in the same month a year earlier. In the five months to May, parent sales rose to 11.63bn twd from 11.42bn a year earlier, it added. |
TPI likely to auction cement unit stake next week09 June 2005, Published under Cement NewsThai Petrochemical Industry is expected to sell its 30 per cent stake in Thailand cement maker TPI Polene by auction next week in a bid to raise US$250m, a member of TPI’s debt administration said on Thursday. The stake sale is part of a US$2.7bn debt restructuring plan of TPI, the country’s largest corporate defaulter. "The auction of TPIP shares will probably be next week," Siri Jirapongphan, a member of the government-appointed management team, told Reuters. A financial adviser t... |
Government to move BRPSE to bail out CCI09 June 2005, Published under Cement NewsThe Ministry of Heavy Industries, Government of India, proposes to move the Board for Reconstruction of Public Sector Enterprises (BRPSE) to seek Rs886-crore loan-cum-interest waiver for Cement Corporation of India (CCI). The draft rehabilitation scheme of CCI intends to convert Rs355 crore of the non-plan loan extended to CCI into 0.1 per cent preference shares. CCI had debts of Rs1,787 crore as on 31 Mar 2005. It had a negative net worth of Rs1,759 crore and liabilities of Rs1,787 crore. T... |
Taiheiyo sees pretax profit rising, Japan08 June 2005, Published under Cement NewsTaiheiyo Cement Corp expect group pretax profits to rise in the year ending March 31, 2006, thanks to price hikes and streamlining efforts. Taiheiyo Cement projects a 7% increase in pretax profit to 41bn yen. Coal prices are expected to continue climbing about 20% this fiscal year, but the firm plans to offset this by boosting the price of cement by about 230 yen per ton. The company’s US and other overseas operations as well as the ceramic business will also likely deliver strong resul... |
Cemex secures $1.9bn revolving credit to pay debt, Mexico08 June 2005, Published under Cement NewsCemex SA has secured $1.9bn in two revolving credit facilities that it will use in part to refinance debt associated with its recent acquisition of RMC Group, one of the leading banks said Tuesday. Barclays Capital said in a press release that Cemex secured $1.2bn in a five-year revolving credit, and $700m in a restatement of an existing credit facility over four years. Barclays Capital and Citigroup Global Markets were joint bookrunners on the $1.2bn credit, and Barclays, Citigrou... |
Mexico’s Cemex to take loan up to $1.2bn07 June 2005, Published under Cement NewsCemex has reached a deal to borrow up to $1.2bn in two tranches from a group of banks. The company plans to use the proceeds of the loan to pay down other debt, the source said. Cemex declined comment and no further details were immediately available. Cemex shares finished among the top percentage gainers in the local market on Monday, up 3.15 per cent at 86.81 pesos while it New York-traded shares added 2.55 per cent to $39.77. Last week the cement maker announced its plans to consol... |
Padang needs investment funding06 June 2005, Published under Cement NewsPresident Director of PT.Semen Padang, Dwi Soetjipto said the state cement producing company needed Rp315 billion for restructuring and improving company’s financial condition. "However, of that total amount, we can save some Rp120 billion by cancelling dividend payments to PT. Semen Gresik, so that we only have to seek the remaining Rp195 billion," he said here on Friday. Soetjipto said his side was considering to borrow Rp195 billion from a number of domestic banks. He said he has asked ... |
Kyivtsement ends 2004 with loss06 June 2005, Published under Cement NewsThe Ukrainian Kyivtsement company ended the year 2004 with a loss of UAH 5.67 million. According to the statement, Kyivtsement’s net revenues fell by UAH 7.12 million or 158.5 per cent to UAH 4.492 million in 2004, compared with 2003. The company ended 2003 with a loss of UAH 2.619 million. As Ukrainian News earlier reported, Kyivtsement suspended production of cement in late September 2003, when its leadership decided that it would start packing and shipping cement produced at the P... |
Joe Berardo to build Cimpor stake – bid expected06 June 2005, Published under Cement NewsPortuguese businessman Joe Berardo plans to continue adding to his stake in Cimpor - Cimentos de Portugal SGPS in expectation the cement maker will be the target of a takeover bid, he told Lusa newsagency. Speaking on the sidelines of an event staged by his wine business, Berardo said he is ’convinced that there will be a bid’ and that ’it is even indispendsable to have one, to end the situation of disruption between its main shareholders.’ He said French cement maker Lafarge or Portuguese... |