Cement News tagged under: corporate
Semen Gresik sets US$400m for 2013 capex02 January 2013, Published under Cement NewsIndonesia’s largest cement producer PT Semen Gresik has set US$400m in capital expenditure for its corporate business activities, according to its president Dwi Soetjipto. "The expenditure will be used to carry out a number of corporate business activities such as continuing the company`s transformation into a holding firm, namely PT Semen Indonesia Tbk," Mr Soetjipto, told reporters. He said that the other corporate activities included the integration of Thang Long, a Vietnamese firm i... |
Concretus Materials to buy majority stake in Akmenes Cementas, Lithuania02 January 2013, Published under Cement NewsConcretus Materials is to acquire a 51 per cent stake in Lithuania’s sole cement producer Akmenes Cementas. The company applied to the Lithuanian Competition Council on 27 December for approval of the deal. Cemex currently owns a 33.95 per cent stake while other shareholders include Simonas Vytis Anuzis (13.67 per cent share), Olius Danyla (13.55 per cent), Arnoldas Mituzas (12.76 per cent) and Edmundas Montvila (9.8 per cent). Akmenes is currently implementing its largest-ever modern... |
SOCAM to exit Lafarge joint venture by 2015, China02 January 2013, Published under Cement NewsSOCAM DEV announced that the shareholders of Lafarge Shui On Cement Ltd, in which it has a 45 per cent interest, have agreed on a plan to facilitate the exist of the group from this joint venture. It is expected that the agreed roadmap will enable an exit no later than 2015. |
Holcim Indonesia agrees to higher royalty payout02 January 2013, Published under Cement NewsPT Holcim Indonesia has increased the royalty to its parent company – a move that has surprised some analysts and caused the cement producer to plunge the most in four years in Jakarta trading. Holcim Indonesia slumped 17 per cent to IDR2900 on 28 December 2012, the steepest decline since October 2008 and the biggest drag on the benchmark Jakarta Composite Index, according to reports by Bloomberg. The company, based in Jakarta, signed a royalty agreement with Holcim Technology Ltd on 2... |
Promac ties up with Taiheiyo24 December 2012, Published under Cement NewsPromac Engineering Industries Limited, the Bangalore-based heavy engineering company, has formed a joint venture with their technical collaborator and Japanese cement technology major Taiheiyo Engineering Corporation (TEC) as part of its strategy to supply large size cement plants. The JV company will provide process and engineering technology based on their expertise. Tokyo-based TEC is a wholly owned subsidiary of Taiheiyo Cement Corporation (TCC). TCC has a total installed clinker capa... |
Cimpor, Camargo Correa transaction moves ahead24 December 2012, Published under Cement NewsThe board of Cimpor has approved a swap of shares of its holding InterCement, paving the way for Camargo Correa to purchase the 21,2% stake held by Votorantim Cementos on Cimpor, according to reports in Valor Economico. InterCement is passing on the Cimpor 17 cement plants involving assets worth EUR817.1m and is receiving from InterCement assets worth EUR1199bn. The swap was coordinated by Morgan Stanley and Rothschild. The next step is to wind up the deal with Votorantim to collect EUR5.... |
Holcim reduces stake in Siam City Cement, sells minority shareholding in Cementos Progreso21 December 2012, Published under Cement NewsHolcim has announced that it has reduced its stake in Siam City Cement Ltd (SCCC) of Thailand and has sold its minority shareholding in Guatemalan producer Cementos Progreso, contributing CHF375m (EUR310.6m) to the Holcim Leadership Journey programme. SCCC stake reduced Holcim Ltd has reduced its shareholding in SCCC from 36.8 per cent to 27.5 per cent. The shares have been purchased by Bangkok Broadcasting and Television Co, part of the Ratanarak Group, which will increase its shareho... |
Al-Abbas Cement proposes name change, Pakistan21 December 2012, Published under Cement NewsPakistan cement manufacturer Al-Abbas Cement Industries Ltd (AACIL) is to change its name to Power Cement Limited, the company said in a filing to the Karachi Stock Exchange. The company’s board of directors agreed the name change at a board meeting on 18 December 2012 which is subject to approval by regulatory authorities and shareholders of the company. During the first quarter of the current fiscal year, the company earned a profit of PKR109.88m compared to a loss of PKR173.38m in t... |
Votorantim prepares IPO for next year - report21 December 2012, Published under Cement NewsBrazil’s largest cement producer Votorantim Cimentos is preparing an initial public equity offering (IPO) of at least US$3bn, according to a report by Bloomberg citing three sources familiar with the matter. Votorantim Cimentos hired Banco Itau BBA SA and JPMorgan Chase & Co. (JPM) to manage the deal and will include additional banks, said the source. The IPO will take place sometime next year, they said. “Such a move is not Votorantim’s actual plan,” the company said in an emailed s... |
Bolivian government and cement companies agree to increase output21 December 2012, Published under Cement NewsBolivia’s government and local cement producers have agreed to raise cement production by 17 per cent next year, taking the current figure of 3Mta to 3.5Mta. Deputy Minister for Medium- and Large-Scale Industrial Production, Camilo Morales, said yesterday that the agreement was the result of his meeting on Monday with representatives of Soboce, Coboce and Fancesa as well as executives of the Bolivian Chamber of Construction (Caboco).??"This year we are closing with about 3Mt of cement and... |