Cement News tagged under: corporate
Prism Cement up on takeover buzz27 December 2004, Published under Cement NewsRumours of a possible sell out to foreign cement major Lafarge saw the stock of India’s Prism Cement touch new highs on the bourses on Friday. Brokers attribute the large volumes and the fact that the counter hit the upper circuit to rumours of a takeover. Taking a more cautious stand are analysts who believe that the run up is on account of speculation. There are those who question the validity of the rumour as the EV/ton is also said to be too expensive. |
China to invest US$12bn for rural highway construction27 December 2004, Published under Cement NewsChina will invest 100 billion yuan (US$12bn) from 2006 to 2010 to build more rural highways, said Zhang Chunxian, minister of communications, in Beijing Sunday. At a yearly national communications meeting, Zhang said all administrative villages in China will be connected by highways at the end of 2010. According to statistics from the transportation department, 123 towns and 11,200 villages have built highways in 2004. About 250,000km of highways have been upgraded to expressways and 13... |
Orascom risk ratings27 December 2004, Published under Cement NewsFitch Ratings, the international rating agency, has just assigned Egypt-based Orascom Construction Industries’ ("OCI") upcoming bond issue a National ’BBB+(egy)’ rating, based on unconsolidated accounts and the term sheet provided by the company dated 14 December 2004. This is the third National rating it has assigned to OCI’s bonds. At the same time, Fitch has downgraded the OCI’s second bond issue (EGP400 million) to ’BBB+(egy)’ from ’A-(A minus)(egy)’ based on unconsol... |
Hardie attempts to raise US prices27 December 2004, Published under Cement NewsJames Hardie Industries will attempt to push through a hefty January price rise for its building products in the US, in a bid to boost profits and offset its asbestos liability costs reports the Sydney Morning Herald. After reaching an in-principle agreement last week to pay $1.5 billion in compensation to asbestos victims over the next 70 years, James Hardie will now move to raise the prices of its US fibre cement products by up to 10 per cent. Shares in the fibre cement maker ended las... |
GCC to record seven per cent growth27 December 2004, Published under Cement NewsAbu Dhabi: The GCC economies will record economic growth of about seven per cent this year, spurred by higher oil revenues, sectoral diversification and reforms, experts said. "When you look at the overall picture, the economies of the GCC countries are headed for another year of excellence and 2004 will close with higher growth than the previous year," said Dr. Mohammad S Amerah, an Abu Dhabi-based economist. "Governments are able to inject more money and increase expenditure. It also a... |
Industry to grow five per cent next year27 December 2004, Published under Cement NewsArgentine industry will grow by a minimum of five per cent next year, which makes it almost inevitable that the sector will surpass the record figures seen in 1998, according to a report drafted by the Production Studies Center at the Secretariat of Industry. Nevertheless, manufacturing activity will increase at a rate more in line with economic expansion, which would be lower than the growth of more than 10 per cent seen in the last two years. The document also stated that the automobile, h... |
Lhoist to invest in China plant27 December 2004, Published under Cement NewsWork has started in Chizhou of Anhui Province on a refractory material project financed and owned by the Lhoist Group, a multinational corporation of Belgium with subsidiaries in 15 countries. Estimated to cost US$58m, the project is designed to produce more than 100,000tpa of refractory bricks, valued at over 200 million yuan (US$24.2m) |
Banks to contribute to Infra fund27 December 2004, Published under Cement NewsIndonesia’s Chief Economics Minister Aburizal Bakrie said local banks are expected to contribute Rp40 trillion (US$4.44bn) to fund needed to finance the government infrastructure projects in the next five years. Bakrie said around Rp200 trillion are expected to come from domestic sources to carry out the program which is estimated to cost more than Rp1,000 trillion. |
Taiwanes public construction spending27 December 2004, Published under Cement NewsInvestment in public construction projects will hit NT$200bn (US$6.21bn) next year, Premier Yu Shyi-kun said. Speaking at the Fifth Public Construction Golden Awards ceremony, Yu said that the Legislative Yuan had approved a special budget of NT$93.1bn for the government’s 10 major construction projects for next year, while private participation in public construction projects is estimated to top NT$110 billion. |
India Cements Board OKs bond issue24 December 2004, Published under Cement NewsThe board of India Cements Ltd has approved a fund raising through various instruments including convertible debentures and equity warrants, the company said Friday. In a filing with the Bombay Stock Exchange, the company said it plans to raise up to $25 million through a convertible bond issue, with the bonds to be convertible at INR125 a share at the end of 18 months from the issue date. India Cements, which is one of the largest cement makers in south India, said it will also issue sec... |