Cement News tagged under: corporate
HeidelbergCement Romania23 June 2004, Published under Cement NewsHeidelbergCement Romania, the local subsidiary of German cement maker HeidelbergCement, expects a 10 per cent year-on-year rise in its turnover for 2004 to about Euro 130m, Ziarul Financiar daily said on Tuesday. "The company already registered a 15 per cent year-on-year rise in sales for the first five months," the daily quoted HeidelbergCement Romania’s director general Mihai Rohan as saying. HeidelbergCement’s three units in Romania - cement producer Carpatcement, concrete producer Carp... |
Top EU Court Says Portugal was wrong23 June 2004, Published under Cement NewsEurope’s top court said Tuesday that the Portuguese government was wrong to attempt to block the takeover of cement company Cimpor. The verdict represents a blow to governments who want to keep national control over private companies through "golden shares." The verdict also is a victory for European Union regulators, who say big mergers should be decided by Brussels, and not by member states. The case started in mid-summer 2000, when Holcim, along with Portuguese company Semapa, launched ... |
Institutions will make good23 June 2004, Published under Cement NewsThe AV Birla Group company Grasim Ltd¹s open offer for 30 per cent of Ultra Tech CemCo, the demerged cement business of Larsen & Toubro, is likely to sail through with the financial institutions (FIs) having agreed to make good any shortfall in retail participation. According to top FI sources, all the financial institutions will together tender their shareholding in the demerged cement company to the extent of the shortfall on the last day of the offer, ie, June 21. Sources said that the a... |
Cementos Molins’ shareholders to vote22 June 2004, Published under Cement NewsThe board of shareholders of Spanish cement producer Cementos Molins will vote tomorrow on a Euro 265.5m plan to take over the 40.9 per cent stake of the group which is in the hands of French counterpart Lafarge, together with the amortization of these shares through a capital reduction. The actual bid will be tabled for 43.9 per cent of the shares in order to guarantee the small shareholders’ preferential right to sell their shares, with the application of no pro-rata allocation rules. The ... |
Kuwait’s Shuaiba Paper22 June 2004, Published under Cement NewsKuwait’s Shuaiba Paper Products Co said on Monday it had signed a five-million Kuwaiti dinar agreement ($17m) with Saudi-based Yanbu Cement Co to establish a packing factory. Shuaiba Paper, which makes and sells paper materials, agreed with Yunbu Cement to found a factory to produce paper bags for packing cement and other construction materials, the Kuwaiti company said in a statement to the Kuwait Stock Exchange. Shares in Yanbu Cement, one of Saudi’s top 100 companies which markets over si... |
Yemeni Bajil Cement22 June 2004, Published under Cement NewsThe Bajil cement plant in Yemen’s western Hodeidah governorate, will raise its annual output to 1.4Mt, the plant’s director general Abdul Karim Yahia said on June 21, 2004. The upgrade project includes converting the plant’s old wet kiln into a dry technology kiln and putting into operation of a new production line with an annual output of 700,000t. The tender for the project will be launched in the coming few days, Yahia said. The upgrade will be completed by the end of 2005 and the plant ... |
CCI in talks to set up cement plant22 June 2004, Published under Cement NewsThe Steel Authority of India (SAIL) is in talks with Cement Corporation of India (CCI) to set up a 1Mta cement plant near its Bokaro steel plant. The cement plant will be a 50:50 joint venture between the two PSUs. "Joint teams of SAIL and CCI officials will meet shortly to take a final view on the project," UP Singh, MD of SAIL’s Bokaro steel plant.Explaining the rationale behind the construction of a cement plant, Mr Singh that the Bokaro plant produced enough slag, a important raw materi... |
Cement firms top capacity use22 June 2004, Published under Cement NewsA number of cement companies are utilising 100% capacity. Kesoram Industries tops the list, having raised its capacity utilisation from 108% in 2001 to 137% in 2004. Mangalam Cement is close by, with 134%, though this is a drop from its high of 142% in 2002-03. Century Textiles used 116% of its capacity last year while Tamil Nadu-based Chettinad Cement weighed in at 106%. Gujarat Ambuja also had 106% utilisation, while ACC had 91%. Grasim had 89% and L&T was at 72%, may be because of capaci... |
RMC gains amid talk of cement price increase21 June 2004, Published under Cement NewsRMC Group recovered from recent weakness amid talk that France’s Lafarge is set to push through further cement price rises in Germany. Although the German cement market is perhaps best known among investors for the frequency with which the Federal Cartel Office, the competition watchdog, launches investigations into alleged price-fixing, that has not stopped a series of increases this year after last year’s price war. Heidelberger has already managed to raise prices on two occasions - by... |
Mitsubishi Materials expands in China18 June 2004, Published under Cement NewsMitsubishi Materials Corp and Mitsubishi Corp. said Friday they have set up a joint venture company for cement production in China. The new company, Qingdao Mitsubishi Cement Co., is capitalized at 2.5 million dollars and is owned 67 pct by Mitsubishi Materials and 33 pct by Mitsubishi. The new company will run a new cement production plant completed in Qingdao in the eastern Chinese province of Shandong. The plant, their second cement production facility in China, is designed to meet grow... |