Cement News tagged under: corporate
Bacnotan buys Danish firms’ shares in Atlas04 January 2005, Published under Cement NewsBacnotan Consolidated Industries has just bought from two Danish firms almost 811,000 shares of Atlas Cement Corp. for US$4.4m. The company last month said its board approved the purchase of Atlas shares from FLS Industries and The Industrialization Fund for Developing Countries (IFU) of Denmark. In disclosures to the exhange, Bacnotan said it bought 595,675 Atlas shares from FLS Industries for $3.2m. It also purchased 215,000 shares of stock of Atlas Cement from The Industrialization Fun... |
Holcim Bulgaria posts growth04 January 2005, Published under Cement NewsHolcim Bulgaria, the cement works in the village of Beli Izvor, registered about 40 per cent growth and purchased new assets in 2004, the management said. The enterprise is reported one of the best performing in Bulgaria. Holcim Bulgaria will also meet the European environmental standards with projects and investment in the production process automation, as mapped out in the business plan, executive director Todor Kostov said. Last year the company was given an ISO 9001:2000 certificate. |
Foreign institutionals buy stake in Kesoram Industries03 January 2005, Published under Cement NewsForeign institutional investors (FIIs) seem to have partially replaced Indian insurance company LIC in B K Birla flagship, Kesoram Industries Ltd. Sources in the market informed Business Standard reporters that LIC is in the process of offloading four per cent stake in Kesoram, which is more than half of its exposure of 7.90 per cent in the company as of December 1. In fact, the insurance major has already sold around 3 per cent in the open market in two tranches in the last 10-15 days. ... |
India Cements could bounce back03 January 2005, Published under Cement NewsDebt restructuring and the extraordinary demand generated from reconstruction of the tsunami-affected states of Tamil Nadu and Andhra Pradesh should result in better realisation for India Cements, said Khandwala Securities, a Mumbai-based brokerage, in a new report. While cement companies are largely expected to be gainers from the reconstruction of the affected areas, India Cements could stand to gain the most on account of its solid reach in these markets. Last month, the company h... |
Shanghai Allied Cement reports proposed deal03 January 2005, Published under Cement NewsOn 31 December 2004, Shanghai Allied Cement entered into the Supplemental Agreement with Tian An, pursuant to which the term of the Master Agreement will be extended to 31 December 2007 and the maximum aggregate principal amount of borrowings of Tian An’s Subsidiaries covered by the SAC Guarantees at any time will be capped at RMB80 million. Both Shanghai Allied Cement and Tian An have business operations in the PRC through their respective Subsidiaries in the PRC. The Group is princip... |
Banks, property plays top ’05 Asia stocks03 January 2005, Published under Cement NewsBanks, property firms and building material companies are JP Morgan’s top Asia stock picks for 2005, as the investment house expects those sectors to benefit from regional reflation. Thailand’s Siam Cement, Hong Kong’s Swire Pacific and Sino Land Co and Ayala Land of the Philippines are the top choices in the property and construction sectors. "We maintain our positive outlook for Asian equity markets," Mowat said. "Our preference for Asian financial assets is equiti... |
ASEC Egypt gains major new local investor03 January 2005, Published under Cement NewsThe recent death of ASEC’s chairman Omar Guimei, a major shareholder in ASEC Cement has prompted a reshuffle of the company’s stock, and the sale last week of a significant 49 per cent stake to an Egyptian investor. This 49 per cent holding was held by MEET a Swiss-based investment group apparently linked to the Guemei family and others. The unnamed Egyptian investor, who has pledged to keep the ASEC group of companies intact, apparently fought off a rival bid from Lafarge who would cl... |
Analysts rate Heidelberg Cement share as a ’sell’.31 December 2004, Published under Cement NewsAnalysts at Helaba Trust have given a ’sell’ rating to shares in HeidelbergCement, the German building materials group. They explain this by risks on the overheated residential property construction market in the US and on the German sector market, where a further year of recession is expected and cement price development is sluggish. The analysts comment that these risks are not taken into consideration in the share price. However, they add that a building boom in eastern Europe would offer... |
Rinker sells US concrete business31 December 2004, Published under Cement NewsShares in Australia’s Rinker Group Ltd dipped on Friday after the building materials group said it would incur a non-cash pretax book loss of $15m on the sale of a US concrete business to a Canadian firm. Rinker, which makes about three-quarters of its earnings in the United States, said it had sold its small pre-stress concrete manufacturing business to concrete manufacturer Coreslab Structures of Canada for about $45m, below book value. Rinker said the US business, which was part of its U... |
Humphreys maintains Cementos Bio Bio bond rating31 December 2004, Published under Cement NewsChilean ratings agency Humphreys has maintained its AA- rating on bonds issued by local cement maker Cementos Bío Bío, the agency said Thursday. The rating in part reflects Bio Bio’s sector experience, its raw materials deposits, the adequate capacity of its production plants, its management and control capacity and bill collection systems. Factors that could negatively impact the rating include the local market’s large installed capacity and sector vulnerability to economic crises an... |