Cement News tagged under: corporate
Cimpor to spend EUR 130m on acquisitions in 200503 June 2005, Published under Cement NewsPortuguese cement producer Cimpor plans to spend close to EUR130m (US$159.71m) on various acquisition in 2005. The company is currently studying the opportunities to make acquisitions on the international market, Cimpor chief financial officer (CFO), Manuel Faria Blanc, said. Faria Blanc projected the company’s turnover to increase by some five per cent YoY in 2005. Cimpor registered a turnover of EUR1.389bn (US$1.706bn) for its activities in 2004. The 2004 profit of the company g... |
HeidelbergCement to double Indocement stake to 65.1%02 June 2005, Published under Cement NewsHeidelbergCement AG plans to double to 65.1 per cent its stake in the Indonesian cement company Indocement, the company said. To increase the stake, the company announced the issuing of 6.53m new shares. The transaction is estimated at EUR310m ($381.86m). The investment will be made by two companies owned by members of the Merckle family, the most influential shareholders group in the cement company. HeidelbergCement expects higher growth potential and better income returns f... |
OCI Posts 82% earnings growth02 June 2005, Published under Cement NewsOrascom Construction Industries announced consolidated revenue of LE 2,440m with EBITDA of LE 621.4m and net income of LE 340.5m for the first quarter ended 31 March 05. The consolidated results included a LE 25.5m loss on foreign exchange. OCI Chief Executive Officer, Mr. Nassef Sawiris commented "Revenue from our Cement Group reached LE 599m, up 14% over last year. Unusually harsh weather conditions affected both domestic sales volumes in Algeria and export sales volumes from Egypt to E... |
CSFB controls larger slice of Cimpor01 June 2005, Published under Cement NewsUS investment bank Credit Suisse First Boston (CSFB) now controls a total 6.02 per cent of the voting rights in Portuguese cement producer Cimpor, CSFB announced in a report to Portugal’s national securities regulator (CMVM) on May 31, 2005. CSFB has acquired a total 22.4 million Cimpor’s shares, accounting for 3.37 per cent of the voting rights in the company. The US bank also has an option to acquire further 17.7 million Cimpor’s shares, representing 2.66 per cent of the company’s vo... |
Holcim plans new bond to refinance debt01 June 2005, Published under Cement NewsSwiss cement group Holcim is planning to issue a new bond worth more than SwFr 300m ($242.9m) to refinance 500 million francs in debt maturing in June, the group said on Tuesday. According to dealers, UBS, CSFB and Zuercher Kantonalbank are lead managers for the issue of the seven-year bond. |
Semapa higher as Q1 net improves01 June 2005, Published under Cement NewsShares in Semapa SGPS rose after the industrial holding company said net profit edged up 2.59 per cent to Euro 12.0m in the first quarter from Euro 11.7m a year earlier, boosted by major changes in its holdings, dealers said. Over the past year, Semapa has sold 49 per cent in its Secil cement unit to enable it to take over paper maker Portucel Empresa Produtora de Pasta e Papel SA. Consolidated sales, which still include 100 per cent of Secil as well as 67.1 per cent of Portucel and 89.9 pe... |
Gujarat Ambuja to buy stake in ING Vysya01 June 2005, Published under Cement NewsGujarat Ambuja Cements will execute the first buy-out in the private insurance industry by acquiring 14.87 per cent stake in ING Vysya Life Insurance Company. The cement major will buy out ING Vysya Bank’s entire holding in the insurance entity. The foreign parent ING will continue to hold 26 per cent stake in the insurance outfit, South-based GMR Group holding 49.13 per cent and Enam holding 10 per cent. "Our decision to invest in ING Vysya Life was based on its rapid expansion and our bel... |
Sebi seeks legal opinion on open offer31 May 2005, Published under Cement NewsThe Indian Securities and Exchange Board of India (Sebi) has sought legal opinion from its legal department over the issue of clearance of open offer of Accurate Finstock Pvt Ltd (acquirer) and Adani Port Infrastructure Ltd (person acting in concert, PAC) for the minority shareholders of Everest Industries Ltd (EIL). The public announcement (PA) for the same was made by Enam Financial Consultants Pvt Ltd, manager to the offer, on January 24, 2005. More than four months have elapsed and Sebi i... |
Ivano-Frankivsktsement posts profits31 May 2005, Published under Cement NewsOne of the five largest producers of cement in the Ukraine, the Ivano-Frankivsktsement company, posted UAH 12.981 million in net profit in 2004. According to the company, in 2004 Ivano-Frankivsktsement increased net revenues by 30.4 per cent or UAH 58.045 million compared with 2003, to UAH 248.876 million. According to specified data, Ivano-Frankivsktsement finished 2003 with net profits of UAH 1.49 million. As Ukrainian News earlier reported, in 2004 Ivano-Frankivsktsement increa... |
Semen Gresik keen to retain 2004 profit31 May 2005, Published under Cement NewsThe management of state-owned cement maker PT Semen Gresik said it has proposed to retain 60 per cent of its net profit earned in 2004. The management wants to retain the profit to finance the construction of a new cement plant valued at around US$350m, its President Satriyo said. Satriyo said 30 per cent of the funds will be in equity and the rest in loans. He said the government as the main shareholder is yet to make a decision on the proposal. He said the new factory, which will hav... |