Cement News tagged under: corporate
Insiders in FLS sell 59,314 Shares10 January 2005, Published under Cement NewsAn insider management group in Danish engineering and cement group FLS Industries sold 59,314 shares worth a total of 5.9 mln Danish crowns ($1.0m), it was reported on January 6, 2005. After the sale, this same group in FLS Industries reduced its stake in the company by a total of 365,000 shares, worth a total of some 37 mln crowns ($6.6 mln/5.0 mln euro) between December 20, 2004 and January 6, 2005. Over 60 pct of the sold shares are B shares. Insider groups usually include management sta... |
New head for Lafarge North America07 January 2005, Published under Cement NewsLafarge North America Inc. Toronto, today announced that Eric C. Olsen officially assumed his position as executive vice president and chief financial officer on January 1, 2005. As previously announced, he succeeds Chief Financial Officer Larry Waisanen who retired at the end of 2004. Olsen joined Lafarge North America in 1999 as senior vice president of strategy and development where he was responsible for the company’s merger and acquisition analyses. He subsequently led the Blue Circle ... |
Philippines’ Union Cement higher07 January 2005, Published under Cement NewsShares of Union Cement Corp were higher in late morning trade as investors’ buying interest shifted to second-line stocks, dealers said. Union Cement was up 0.06 pesos or 2.46 per cent at P2.50 in actively trading, with volume reaching 17.9m shares. Dealers said sentiment towards Union Cement has been positive following the move of Bacnotan Consolidated Industries last year to sell its 51 per cent stake in Union Cement Holdings Corp, a major shareholder in Union Cement, to Cemco Holdings Inc,... |
Holcim Romania 2004 turnover up07 January 2005, Published under Cement NewsHolcim Romania, a unit of Swiss cement company Holcim Ltd, said on Thursday its 2004 turnover grew 10% due to investments in quality, service and innovation. It recorded 118 million euro ($156.5m) in sales for the year, the company said in a statement. Holcim Romania plans to spend 32 million euro in 2005 on three new concrete plants in Bucharest, Timisoara and Targu Mures. It also plans to upgrade a ready-mixed concrete plant in Brasov. "Other investments include the modernisation of pro... |
Shui On to dispose of four concrete companies06 January 2005, Published under Cement NewsShui On Construction and Materials Ltd wholly-owned unit Shui On Building Materials Ltd said it will sell to Maxking Investments Ltd the entire issued share capitals of four companies it owns for HK$95. The four companies are Ken On Concrete Co Ltd, Instant Mortars Ltd, Shui On Cement Co and Honest China Ltd. Proceeds will be used to develop the group’s cement operations and property operations in Hong Kong and China. |
Lafarge to look again at Loma Negra?06 January 2005, Published under Cement NewsLafarge is reported to be interested in acquisition of the Argentine cement company Loma Negra. This Argentinian company, owned by Argentine businesswoman Amalia Lacroze de Fortabat, was put for sale in August 2004. At present, Brazilian cement company Camargo Correa is in negotiation with representatives of Amalia Lacroze de Fortabat to agree a price of the acquisition. The negotiations are said to have stalled due to the demands of Amalia Lacroze de Fortabat for a higher price to be paid f... |
CRH sees FY pretax profits rising05 January 2005, Published under Cement NewsCRH said its full-year profit before tax is expected to break the Euro 1bn level (2003: Euro 864m) for the first time. The group has performed strongly in 2004 with good full year organic growth and a significant incremental contribution from acquisitions. Subject to continuing uncertainties in economies and currency markets, with a focus on operations, ongoing strong cash flow, comfortable interest cover and a sustained development emphasis the company said it faces 2005 with confidenc... |
More Indian consolidation expected05 January 2005, Published under Cement NewsYear 2005 is likely to witness a phase of consolidation in the cement industry. There are several small players in the country, both profitable and ailing, that could be on the acquisition radar. Analysts opine that the potential acquirers could be either the Indian cement giants or foreign companies. An official with a cement major from western India said that the consolidation process will begin in 2005 and will continue thereafter. "If the small players are offered good value by the acqui... |
Stake acquisition of Suez Cement by Ciments Francais05 January 2005, Published under Cement NewsThe 5.8 per cent stake acquisition of Suez Cement by Ciments Francais was executed yesterday at a price pertaining to US$12.87/share. This ultimately leaves Ciments Francais’ stake at a higher 40 per cent, while other shareholders include Torah Cement, which enjoys a 4.74 million share holding (7.4 per cent), and National Cement (NCEM.CA) which owns 4.03 million shares. |
Shree Cement stock – good performance05 January 2005, Published under Cement NewsThe Shree Cement stock has been among the best performing cement stocks in 2004, having gained around 70.3 per cent versus a 28.93 per cent rise for the industry leader Gujarat Ambuja Cement and a 11.62 per cent gain for the Sensex. Both companies had earlier reported significant growth in their September quarter profit - in the case of Shree Cement, its profit after tax had grown 479 per cent to Rs 16.99 crore while Gujarat Ambuja’s consolidated net profit increased 477 per cent to Rs 100.9... |