Cement News tagged under: corporate
Holcim GAC close deal08 April 2005, Published under Cement NewsGujarat Ambuja Cement (GACL) and Holcim on Thursday announced the completion of the financial closure of a Rs 3,540 crore transaction by which Holcim has taken a stake in Ambuja Cement India. "Holcim group has been issued and allotted 39,01,63,637 equity shares worth Rs 1,834 crore, and 81,003 preference shares amounting to Rs 810 crore, totalling Rs 2,644 crore of Ambuja Cement India. With the above issue and allotment of the equity shares, and Holcim buying the shares worth Rs 896 crore fr... |
Egyptian Assiut Cement 2004 Net Profit Soars08 April 2005, Published under Cement NewsThe net profit of Egyptian cement producer Assiut Cement soared to 286.2 mln Egyptian pounds ($49.4m) in 2004 from 28.92 mln pounds ($5.0m) in 2003. The surge in bottom-line profit followed a 40.1 per cent year-on-year increase in operating revenue to 1.124 bln pounds ($194m) and a 11.5 per cent growth in the cost of sales to 706.2 mln pounds ($122m). The company’s gross profit rose to 417.97 mln pounds ($72.2m) in 2004. Assiut Cement is traded on the Cairo and Alexandria Stock Exchanges. ... |
Saudi Eastern Province Cement Q1 2005 Profit08 April 2005, Published under Cement NewsSaudi cement producer Eastern Province Cement Company (EPC) reported a 15 per cent year-on-year increase in its profit after Zakat to 65.5 mln Saudi riyals ($17.5m) for the first three months of 2005, according to the company’s board chairman, Ahmad Abdullah al-Zamil. EPC’s general shareholders’ meeting has approved a cash dividend payment of 20 riyals ($5.33) per share for 2004, equal to 40 per cent of the share par value. The company paid a cash dividend of 17.5 riyals ($4.67) per share f... |
LIC to tender its stake in Holcim open offer for ACC07 April 2005, Published under Cement NewsThe Life Insurance Corporation (LIC) of India, the largest institutional shareholder in the Associated Cement Companies (ACC) Ltd has decided to tender a five per cent stake in the open offer of Holcim Ltd. LIC had a 15.72 per cent stake in ACC as on December 31, 2004. The offer price for ACC is Rs 370 per share. LIC holds 2.81 crore shares in ACC’s equity of 17.84 crore shares. LIC’s decision to tender 5 per cent stake in ACC comes to 14.03 lakh shares and at the rate of Rs 370 per share, L... |
Peru’s Cementos Pacasmayo buys US Mica Mines07 April 2005, Published under Cement NewsPeru’s Cementos Pacasmayo SAA said Wednesday its Atlanta-based subsidiary, Zemex Corp., has bought the Kings Mountain, N.C., mica operations of Oglebay Norton Specialty Minerals, Inc. Oglebay Norton Specialty Minerals is a subsidiary of Oglebay Norton Co. Oglebay Norton said the sale was worth $15m. "The plant has production of about 30,000t of mica a year," Cementos Pacasmayo said in a filing to the Peruvian securities regulatory agency, Conasev. Zemex Corporation produces industrial mine... |
New management to inject cash into Essa Cement07 April 2005, Published under Cement NewsThe new management of Essa Cement in Pakistan has planned to inject fresh funds in the company and name it as Al-Abbas Cement, while the board of directors has also approved 200 per cent right share issue, sources told Daily Times on Wednesday. “The group has decided to inject funds to strengthen the company,” said a well-placed source. It is estimated that after the fresh investment the authorized capital of the company would rise to around Rs 1.5 billion from current Rs 500 million. Increa... |
FCC buys Hanson ready-mix plants06 April 2005, Published under Cement NewsThe cement unit of Spanish builder FCC has bought 19 Spanish concrete plants from Britain’s Hanson Plc for more than 20 million euros the unit said on Tuesday. Cementos Portland Valderrivas said the plants it just bought produce 1.2 million cubic metres per year with annual revenues of more than 65 million euros. FCC buys Hanson ready-mix plants |
Eagle Materials sees higher revenues06 April 2005, Published under Cement NewsEagle Materials Inc said Tuesday that it expects revenue for fiscal 2005 ended March 31 to be about $590m. In a document filed with the Securities and Exchange Commission, the construction product supplier also said it expects earnings before interest, taxes, depreciation and amortization to be around $195m. Eagle Materials said it expects that roughly 54 per cent of its fiscal 2005 revenue will be derived from its gypsum wallboard division. The balance of its anticipated revenue for the... |
Holcim woos ACC investors06 April 2005, Published under Cement NewsHolcim, has taken an aggressive approach to push through its open offer to the shareholders of the Associated Cements Ltd (ACC). DSP Merrill Lynch, merchant banker to the offer, has appointed agencies to touch base with minority shareholders in all major cities before the offer closes on Monday. A source in DSP Merrill Lynch confirmed that representatives of a few agencies are meeting minority shareholders “to check whether they got forms of the offer.” However, a minority shareholder of ... |
Suez Cement net income up 84 per cent05 April 2005, Published under Cement NewsThe Suez Cement group, in which the Italcementi Group has a 54.2 per cent stake, increased net income by 84.3 per cent in 2004 to 394.3 million Egyptian pounds (US$68m), the company said yesterday. It did not give a net income figure for 2003. “The group’s results were achieved despite sharp rises in energy costs, which were offset in part by higher sales prices,” it added in a statement. “For the current year, signs are emerging of a recovery in domestic demand ... while the upbeat trend in... |