Cement News tagged under: corporate
Holcim now calls the shots at ACC18 April 2005, Published under Cement NewsCement major Holcim of Switzerland has announced that it has taken over Associated Cement Companies (ACC) through Ambuja Cement India Ltd (ACIL). Holcim says that ACIL is now the largest shareholder with 34.6 per cent stake in ACC, and is now the promoter of the company. Holcim recently picked up 20.8 per cent in ACC through its open offer, taking its total shareholding to 34.6 per cent. The Swiss major’s total investment in India after the open offer is estimated at US$518m. Total foreign s... |
Semen Padang complete 2004 reports, profit increases18 April 2005, Published under Cement NewsCement producer PT Semen Padang has completed its 2004 audited financial statement, paving the way for its parent company, publicly listed PT Semen Gresik, to issue the latter’s consolidated account soon. Semen Padang’s chief financial officer, Endang Irzal said that although the West Sumatra-based company missed its March end deadline by a few weeks, it was a vast improvement from the 2002 and 2003 statements that took until last October to be completed. "Semen Gresik should be able t... |
Gujarat Ambuja Mulls Bonus, tock Split (is considering a stock split for the first time)18 April 2005, Published under Cement NewsGujarat Ambuja Cements Ltd (GACL) will consider a bonus issue of equity shares and a stock split during the meeting of its board of directors scheduled for 20 April 2005. GACL, which had announced a 1:1 bonus in 1998-1999, is considering a stock split for the first time. |
Cementir to boost dividend by 200815 April 2005, Published under Cement NewsItalian cement company Cementir SpA, a unit of local construction company Caltagirone, targets to raise its dividend to Euro 0.12 per share from Euro 0.7 per share paid for 2004, company chairman Francesco Caltagirone Jr said. The company plans to reduce its net financial debt to zero from the Euro 320m registered at the and of 2004. The net financial debt is calculated as the difference between a company’s financial debts and liquid assets. Cementir’s earnings before interest, tax, depreciat... |
Egypt’s Gazelle seeks stake in South Valley Cement15 April 2005, Published under Cement NewsGazelle Ltd Company, a private Egyptian firm, has offered to buy 29.39 per cent of South Valley Cement at 22.60 Egyptian pounds ($3.90) a share, the stock exchange said in a statement on Thursday. Gazelle is offering to buy 2.304 million shares from state-owned Banque Misr and 946,000 shares from the private sector, making a total of 3.25 million shares, it said. Gazelle already has 0.05 percent of the stock, it added. South Valley Cement traded at 22.49 pounds a share on the Egyptian stock ... |
UAE Gulf Cement approves bonus14 April 2005, Published under Cement NewsThe extraordinary general shareholders’ meeting of UAE cement maker Gulf Cement Company approved on April 13, 2005 a 20 per cent bonus issue for 2004, which is to raise the company’s paid-up capital to 317.5 mln UAE dirhams ($86.4m) from 264.6 mln dirhams ($72m). The company’s shareholders also voted for a further 15 per cent increase in the capital via a rights issue of 47,636,867 shares. The net profit of Gulf Cement jumped to 186.74 mln dirhams ($50.8m) in 2004 from 67.75 mln dirhams (... |
Cemex begins bond auction14 April 2005, Published under Cement NewsCemex began auctioning Wednesday bonds worth a total of 3.75bn pesos (US$339m), the company reported to the Mexico City bourse (BMV). The bonds are being offered in two tranches, the first of which is a four-year issue for a maximum of 2.25bn pesos with a referential rate of benchmark 91-day T-bill, maturing in April 2009. The second, seven-year issue will be for a maximum of 1.50bn pesos with a 10.39 per cent annual interest rate, maturing in April 2012. The number of papers to be auctio... |
Saudi Tabuk Cement13 April 2005, Published under Cement NewsSaudi cement producer Tabuk Cement Company (TCC) posted a net profit of SAR34m(US$9.1m) for the first quarter of 2005, up from SAR25.6m (US$6.8m) in the year-ago period, according to the company’s board chairman Khalid Salih al-Shatri. The increase came on the back of a 12.8 per cent sales rise to SAR73.3m (US$19.5m) in the first three months of 2005. Gross profit grew 29.5 per cent to SAR38.8 m (US$10.3m) for January to March 2005. TCC’s management board has proposed a 15 per cent cash d... |
Uralcement to raise capita13 April 2005, Published under Cement NewsAt an AGM of Uralcement held in Pervomaysky Korkino of the Chelyabinsk region shareholders of the company made a decision to raise the authorized capital by 32.4 per cent from RUR308,452 to RUR408,452 and made changes to the articles of association, Uralcement told SKRIN. The charter capital will be increased by placing RUR100,000 common shares with a par value by open subscription worth a total of RUR100,000. Price of placement of one stock was set by the BoD at RUR1,830. Shareholders of r... |
IMSA Willing To Buy Stake in Hylsamex, Mexico13 April 2005, Published under Cement NewsMexican industrial conglomerate Industrias Monterrey SA. (IMSA) is studying possibilities to buy a stake, or to merge with Mexican ready-mix maker Hylsamex, a unit of Mexican diversified holding Grupo Alfa, the chairman of IMSA, Eugenio Clariond Reyes, said on April 11, 2005. "So far we are only studying various options," Clariond Reyes added. IMSA has the funds to buy Hylsamex and in 2005 expects a revenue of some $4bn, the chairman of the conglomerate said. The president of Grupo Alfa,... |