Cement News tagged under: international
Holcim ups stake in India’s Gujarat Ambuja Cement to 30.3 per cent24 April 2007, Published under Cement NewsHolcim has hiked its holding in India’s Gujarat Ambuja Cement to 30.3 pct from 28.5 per cent following the purchase of a 1.84 per cent stake for about INR3bn, the Economic Times reported. Holcim bought the stake through its investment company Holderind Investments, which bought 28 mln shares at 115 rupees per share on the Bombay Stock Exchange, the paper said. |
Aveng sells out of Holcim SA in landmark R7.4bn BEE deal24 April 2007, Published under Cement NewsAveng, South Africa’s biggest construction and engineering company, will sell its entire 45.65 percent shareholding in cement producer Holcim South Africa for R7.4bn, paving the way for South Africa’s biggest black economic empowerment (BEE) transaction. The decision took some analysts by surprise, particularly as Aveng chief executive Carl Grim has been outspoken on the proposed transaction, saying the company read about it in the press. As recently as last week, Grim said Aveng d... |
China’s Sinoma wins US$127.4m contract in Iraq24 April 2007, Published under Cement NewsSinoma International Engineering Co Ltd said it has signed an agreement to build a cement plant for Mass Iraq For Industrial Investment Co at a cost of US$127.4 m. Sinoma told the Shanghai bourse that the cement production plant, located in the Kurdistan autonomous region in northeastern Iraq, will have a daily capacity of 5,000 tons, and will be completed in just over two years’ time. |
INTEKO to invest RUB8bn in cement plant reconstruction24 April 2007, Published under Cement NewsMoscow-based company INTEKO has decided to invest about 8 billion rubles out of own funds and external loans in modernization of the production of Verkhnebakansky cement plant (Krasnodar Region). Yelena Baturina, a president of CJSC INTEKO, and Alexander Tkachev, a chief executive of Krasnodar Region, signed The Cooperation agreement in the field of realization of the investment project in Krasnodar Region. In early 2006 INTEKO got possession of JSC Verkhnebakansky cement plant located in ... |
Cimpor buys Ukraine cement plant23 April 2007, Published under Cement NewsCimpor and builder Teixeira Duarte SA have bought a cement plant in Ukraine, in a deal that marks the entrance of the two companies into the eastern European market, Diario Economico reported. A source at the builder said that a joint venture bought 49 per cent of cement maker ’Cement’ in early 2006 and 51 per cent at the end of last year, the paper said. The plant, which is in the process of being expanded, has a capacity of 350,000tpa according to the report. |
ACC to acquire 12 per cent stake in Shiva Cement23 April 2007, Published under Cement NewsPrivate sector firm Shiva Cement is going to allot 12 per cent stake to leading cement maker ACC, as per a share subscription agreement, with a proposal to allot 1.45 crore equity shares at a price of Rs 11 per share. Shiva Cement would raise Rs 16 crore through the preferential issue of shares. Shiva Cement would also now on produce its cement in the brand name of ACC as against its original trade mark, Santosh Agarwal, professional advisor to Shiva Cement, based near here, told P... |
YSR lays stone for cement unit23 April 2007, Published under Cement NewsChief Minister Y.S. Rajasekhara Reddy laid the foundation stone for Rs. 1,500-crore Dalmia Cements unit at Navabpet in Mylavaram mandal on Friday. He also laid foundation stones for seven works worth of Rs. 30 crores in Jammalamadugu town, all on Sri Narapura Venkateswara Swamy temple premises, by unveiling plaques put up in a row. Dr. Reddy laid foundation stones for an integrated hostel (Rs. 1.50 crores), water supply scheme from Mylavaram reservoir to Jammalamadugu municipality ... |
Russian court throws out Russia Partners’ suit vs Eurocement Group23 April 2007, Published under Cement NewsThe Moscow Arbitration Court Friday threw out a lawsuit filed by affiliates of U.S. investment fund Russia Partners against Russia’s Eurocement Group over alleged profit stripping. The companies that filed the lawsuit have decided to withdraw it, according to earlier reports. Russia Partners’ affiliates Kolden Holdings and Serpell Holdings accused Eurocement Group of stripping profits from Russian cement producer Eurocement in 2004 and wanted Eurocement Group to pay 3.349 billion r... |
Singapore’s Jurong Cement warns of losses for year to March23 April 2007, Published under Cement NewsJurong Cement Ltd said it is expecting to report losses for its financial year to March, due to a sharp rise in sand and granite prices and poor results in one of its Chinese associates. "Our concrete division has experienced a substantial decline in gross margins due to steep increases in the price of sand and granite following the ban on the export of sand from Indonesia and the severe shortage of granite in the market," the company said. "Our concrete division was not able to pa... |
YSCC to establish Batis cement factory23 April 2007, Published under Cement NewsYemeni-Saudi Cement Company signed Saturday an agreement with the Chinese Sinoma International Company to build and equip Batis Cement factory in Abyan province with the cost of US$250 million and with daily production capacity reaches to 5000t. According to the agreement, the Chinese company has to import sets, equipments and prime systems of European industries to avoid pollution. The project consists of production line, complete administrative and maintenance buildings, 45MW electric... |