Cement News tagged under: corporate
Austrian Lasselsberger wins permit for Czech plant06 December 2004, Published under Cement NewsAustrian ceramics and building materials group Lasselsberger GmbH will build a 2.5 billion crown (US$108m) cement factory in the Czech Republic, the company’s Czech unit said on Friday. The firm said it had won building permission for the plant, following several years of disputes with an environmental group, and the permit has now entered into force. |
Cimpor buys Spain’s Branas de Brins06 December 2004, Published under Cement NewsPortuguese cement company Cimpor has bought Spanish company Branas de Brins for Euro 7.51m. Cimpor said late on Thursday its Spanish subsidiary Noroeste Corp., signed the contract to buy Branas de Brins on Monday. Branas de Brins operates a granite quarry in Santiago de Compostela with a sales volume of 300,000 tonnes per year. |
Raysut Cement proposes RO15m rights06 December 2004, Published under Cement NewsRaysut Cement, Oman has proposed to come out with a rights issue of five million shares at a price of RO3.000 per share aggregating to RO15 million. The rights offer is to part-finance the company’s RO20 million expansion-project, which the company had embarked up on sometime ago. Official sources said the company is in the process of expanding its production capacity by another 1.2Mt. Through the rights issue, the paid-up capital of the company will be increased to RO20 million from the c... |
WEDCO to enter into new lease negotiations06 December 2004, Published under Cement NewsThe West End Development Corporation is to enter into new lease negotiations with the Bermuda Cement Company (BCC). WEDCO chairman David Burch made the announcement last night after staff at BCC - which leases its production site from WEDCO – went on strike because over the uncertainty of the company’s future at its current location. Yesterday Lt. Col. Burch said: “Let me first state for the record that BCC have held a monopolistic lease on the cement facility at the Royal Naval Dockyard fo... |
Philippines Republic Cement issues notes03 December 2004, Published under Cement NewsRepublic Cement Corp said it has issued PHP1.35 billion worth of 10-year convertible loan notes to Lafarge Holdings (Philippines) Inc. The convertible notes, issued Wednesday, carry an interest rate of 8% a year. Proceeds from the issue will be used by Republic Cement to purchase Continental Operating Corp, a local cement unit of Republic Cement shareholder, Lafarge. Lafarge can convert the notes to 1.35 billion common shares in Republic Cement. If it chooses to do so, that would increase th... |
Indocement eyes 10% sales increase in 2005, Indonesia03 December 2004, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk set the target that the revenue of the company would increase by 10% next year, compared to the target of 8% increase this year. The Finance Director of Indocement, Christian Kartawijaya, said that the company would keep maintaining its present market shares of 30%-31% by following the growth of the national cement market as well as national cement industry. He said that the national cement market would grow by 8%-10% next year. "We set th... |
China Res Cement to buy HK$152m JV stake, China03 December 2004, Published under Cement NewsChina Resources Cement Holdings Ltd has agreed to buy a 73.5 per cent stake in a cement production joint venture from its parent China Resources (Holdings) Ltd. for HK$151.7m (US$19.4m). The cement producer also said it would issue HK$800m worth of zero coupon convertible bonds due 2010 to its parent, raising funds to finance the purchase. The cement venture, Guangxi Pingnan China Resources Yufeng Cement Co. Ltd., operates a 5,000tpd clinker production line which is equivalent t... |
Misr Cement Quena completes sale of 465,630 shares03 December 2004, Published under Cement NewsMisr Cement Quena completed the sale of 465,630 shares that were previously not fully subscribed to, representing 1.55% of the company’s total shares at an execution price of LE27.77/share |
SEC approves Union Cement name change to Holcim Philippines03 December 2004, Published under Cement NewsPhilippines’ SEC approves Union Cement name change to Holcim Philippines MANILA Union Cement Corp said the Securities and Exchange Commission (SEC) has approved the amendment to its articles of incorporation and by-laws to reflect the change of its name to Holcim Philippines Inc. The change in name follows the decision of Bacnotan Consolidated Industries to sell its 51 per cent stake in Union Cement Holdings Corp, a major shareholder of Union Cement, to Cemco Holdings Inc, 40 pct-owned by Sw... |
Suez Cement nine-month net profit, Egypt03 December 2004, Published under Cement NewsEgypt’s Suez Cement reported a 94 per cent increase in nine-month 2004 net profit to E£182.59m. The company, 34 per cent owned by Ciments Francais, earned E£93.09m in the same period last year, the company said in the statement. Analysts have said Egyptian cement companies have benefited from a sharp rise in domestic cement prices this year, alongside a rise in cement exports. |