Cement News tagged under: corporate
Adani group to acquire Everest25 January 2005, Published under Cement NewsSwiss Cement giant Holcim has found a buyer for the Associated Cement Companies’ (ACC’s) 76.1 per cent stake in Everest Industries Limited. The Rs 7,000 crore Adani group has signed an agreement with Holcim to take over Everest. Holcim had on Thursday entered into a deal to acquire control of ACC. Adani group spokesperson Devang Desai confirmed that Accurate Finstock Private Limited (AFPL), an Adani group company, signed the deal with Holcim in the past two days. Everest, which has cement... |
Immobiliare Caltagirone lowers stake25 January 2005, Published under Cement NewsItalian real estate company Immobiliare Caltagirone S.p.A. reduced its stake in Italian cement company Cementir-Cementerie del Tirreno SpA, a unit of local cement company Cementir, to below 2.0 per cent, the Italian stock market regulator Consob said on January 24, 2005. The operation was effective as of December 20, 2004, Consob said. Previously Immobiliare Caltagirone held 2.807 per cent in Cementir-Cementerie del Tirreno. Immobiliare Caltagirone and Cementir are units of local construct... |
Indocement seeks US$150m debt refinancing25 January 2005, Published under Cement NewsPT Indocement Tunggal Prakarsa, the country’s second largest cement maker, and part of HeidelbergCement is seeking minority shareholders’ approval for proposed debt refinancing worth US$150m. Indocement said in a published circular that the transaction will reduce the debt repayment burden from April 2005 until January 2008 by more than US$35m per annum from the original annual mandatory repayment obligation under the Master Facilities Agreement (MFA) signed by Indocement and its cred... |
Bernd Scheifele new HeidelbergCement chairman24 January 2005, Published under Cement NewsThe Supervisory Board of HeidelbergCement AG has appointed Dr. Bernd Scheifele the new Chairman of the Managing Board. Scheifele, currently Chairman of the company1s Supervisory Board, will assume the chairmanship as of 1 February 2005. The Supervisory Board also elected Fritz-Jürgen Heckmann as successor of Scheifele as Chairman of the Supervisory Board. |
Siam Cement net almost doubled In 200424 January 2005, Published under Cement NewsSiam Cement’s net profit likely almost doubled in 2004 from the year before, propelled by rising petrochemical prices, strong demand for cement and one-off gains from a major asset sale. Thailand’s largest industrial conglomerate is scheduled to announce its unaudited annual results Wednesday. "We expect Siam Cement to deliver a good result for 2004. Its nine-month performance was quite impressive, thanks to rising product prices and income from its affiliates," said Nasu Chunsom, a fund m... |
Indonesia plans to sign MoU with Cemex24 January 2005, Published under Cement NewsIndonesia plans to sign Memorandum of Understanding with Cemex tomorrow to settle Semen Gresik dispute over a failed put option deal for the sale of a majority stake in state cement firm Semen Gresik to Cemex, State Enterprises Minister Sugiharto said. "Tomorrow, we will sign an MoU with Cemex. The core of the MoU is to underline that in accordance with our consultation with parliament, the government will retain 51 per cent stake in Semen Gresik," Sugiharto told reporters on the sideline... |
Locals cast doubt on Holcim Indian plans22 January 2005, Published under Cement NewsHolcim may find it difficult to get a majority in ACC unless they hike their open offer by a substantial amount. All Indian cement companies are on a roll at present, ACC has for example boosted its net profits by a massive 137.8 per cent for the third quarter ended December 31, 2004 and neither the investors nor the financial institutions will be inclined to show any interest at the current price. Whether Holcim’s move will prompt the other majors to get more involved in the Indian cement se... |
Iskitimcement plans to raise retail sales of cement21 January 2005, Published under Cement NewsIskitimcement plans to raise retail sales of cement. On January 19, 2005 the company put into operation Mullers cement packing line of 300tpd capacity and seeks to double sales of cement in 10-50 kg bags. RUR50m of the company’s profit was invested in the project, CEO of the company Georgy Glebov told Vedomosti. The official was quoted as saying that the company will develop the retail line of business and is going to produce dry construction mixtures. In 2005 the company plans to pack 250,0... |
Saudi Tabuk Cement posts higher profits21 January 2005, Published under Cement NewsSaudi cement producer Tabuk Cement Company (TCC) has posted a net profit of 128.6 mln Saudi riyals ($34.3m) for 2004, up from 75.7 mln riyals ($20.2m) for 2003, according to the company’s board chairman Khalid Salih al-Shatri. The increase was mainly a result of the rise in sales to 284.1 mln riyals ($75.8m) in 2004 from 210.8 mln riyals ($56.2m) in 2003, al-Shatri said. Tabuk Cement, one of the eight cement companies operating in Saudi Arabia, was established in 1994 as a joint-stock compa... |
Shree Cement net zooms21 January 2005, Published under Cement NewsShree Cement Ltd has recorded a 111 per cent jump in its net profit for the nine months ended December 31, 2004 over the corresponding period in 2003-04. The company posted a profit of Rs 59.42 crore, against Rs 28.21 crore recorded till December 31, 2003. In the third quarter, it reported a net profit of Rs 16.49 crore against Rs 12.06 crore in the corresponding previous quarter. The unaudited results of the company for the quarter ended December 31 2004 were taken on record by the board a... |