Cement News tagged under: international
Cemex gains 59.93 per cent of Australia’s Rinker ahead of bid expiry18 June 2007, Published under Cement NewsCemex said it has gained 59.93 per cent of Rinker Group Ltd’s issued capital ahead of the expiry on June 22 of its US$14.25bn offer for the Australia-listed heavy construction group. Cemex passed the 50 per cent level on June 7, giving it control of Rinker, which earns more than 80 per cent of its income in the US. On achieving 50 per cent acceptance, Cemex declared the offer unconditional. On Tuesday, Rinker will hold its first board meeting since control changed. At the meet... |
Taiheiyo in talks to buy US Company18 June 2007, Published under Cement NewsTaiheiyo Cement Corp said Monday that it is in talks to acquire an unspecified ready-mixed concrete company in the US. A company spokesman said that Taiheiyo made the announcement after receiving early antitrust clearance on M&A activities by the US Federal Trade Commission. But he declined to comment with whom Taiheiyo is in talks. Taiheiyo also said that it doesn’t know what impact the potential purchase will have on its earnings. |
Taiwan Cement Corp confirms acquisition of Chia Hsin Cement18 June 2007, Published under Cement NewsTCC International Holdings Limited (TCCIH) has confirmed it will fully acquire Chia Hsin Cement Greater China Holding Corporation (CHCGC) by equity exchange. Based on the formula of 0.4545 new TCCIH share for each CHCGC share, the consideration will amount to HK$2.58 billion. TCCIH will issue 519.45 million new shares, constituting 40.19% of its expanded capital. The current controlling shareholder of CHCGC is Chia Hsin Cement Corporation (CHC), with a stake of 72.14% or about 825 million s... |
Vietnam: increasing exports key to easing nation’s cement glut18 June 2007, Published under Cement NewsCement producers have the capacity to produce 60Mta, exceeding domestic demand by 12Mt, according to the Vietnam Cement Association. Exports are the logical way to consume the surplus, said Nguyen Quang Cung, director of the Construction Ministry’s Department for Construction Materials, with many Asian neighbours, including Singapore, Japan and the Republic of Korea likely to be shopping around for new sources. However, Cung warned, the nation’s cement industry needed to get its act ... |
Portland denies talks to buy Texas Industries18 June 2007, Published under Cement NewsSpain’s largest cement manufacturer Portland Valderrivas denied Friday it was in talks with Texas Industries (TXI) to buy the US cement company. "Cementos Portland Valderrivas states that talks, negotiations or any decision regarding the cement company TXI do not exist nor have existed," the unit of local builder Fomento de Construcciones y Contratas said in a filing to the National Securities Commission (CNMV). Earlier on Friday, the CNMV suspended trading in Portland’s shares in the mo... |
Eurocement seeking to participate in modernisation of Belarusian cement works18 June 2007, Published under Cement NewsRussia’s Eurocement would like to participate in the modernisation of Belarusian cement works, Pavel Borodin, state secretary of the Union State of Belarus and Russia, said. According to Mr Borodin, the company’s proposals will soon be discussed at a meeting with Belarusian government officials. He noted that Russia has an enormous need for cement to implement national housing and road construction programs. Mr. Borodin said that privatization in Belarus should meet all internationa... |
German fund pursues Russian dispute with Lafarge18 June 2007, Published under Cement NewsA German fund firm said on Friday it has asked the Russian authorities to stop Lafarge from issuing new shares in a Russian subsidiary, which the French cement maker is planning to merge with another subsidiary. Wermuth Asset Management has already said it is considering legal action over Lafarge’s plans to merge Russian cement companies JSC Voskresenskcement and JSC Uralcement as it believes the deal is flawed and unfair to minority shareholders. The two firms are valued at a tot... |
TCC intention to buy Chia Hsin Cement15 June 2007, Published under Cement NewsTaiwan Cement Corp said its Hong Kong-listed subsidiary, TCC International Holdings Ltd, intends to buy Chia Hsin Cement Corp’s Hong Kong-listed unit Chia Hsin Cement Greater China Holding Corp, confirming speculation reported earlier this week when both companies suspended trading of their shares. Taiwan Cement told the stock exchange here that TCC International plans to acquire Chia Hsin Cement Greater China shares through a voluntary general offer, with one share in TCC International to... |
TCL cuts ribbons on US$10mn cement bagging plant15 June 2007, Published under Cement NewsCaribbean company Trinidad Cement Limited (TCL) has opened a US$10.3mn cement bagging plant in Guyanese city Charlestown. With the new plant, "we will be able to eliminate an irregular cement supply with no buffer stock, price volatility, high internal transport costs and the vagaries of shipping," TCL group chair Andy Bhajan said during the ribbon cutting ceremony, adding that the bagging facility was the first of its kind to be established by TCL outside of their manufacturing bases ... |
Spain’s Portland mulls Texas Industries buy15 June 2007, Published under Cement NewsSpanish cement maker Cementos Portland Valderrivas, controlled by building group FCC, is looking at buying US counterpart Texas Industries (TXI), ’Expansion’ newspaper reported on Friday, citing sources. The paper said Portland had for some time been studying the acquisition of TXI, market leader in Texas and with a presence in California, after buying two Spanish producers last year. Expansion said Portland declined to comment on the report. |