Cement News tagged under: international
Spohn gains majority stake in HeidelbergCement08 August 2005, Published under Cement NewsSpohn Cement GmbH has raised its stake in German building materials group HeidelbergCement AG to 52.3 per cent as of August 3, 2005. Spohn, controlled by HeidelbergCement’s shareholder Adolf Merckle, acquired 35.64 per cent of the group’s issued share capital, representing 41,071,556 shares, as part of a takeover offer, it said on August 5, 2005. Spohn previously held 19,208,057 HeidelbergCement shares. Spohn’s offer runs until August 12, 2005. |
Saudi Arabia invests heavily in Algeria08 August 2005, Published under Cement NewsSaudi investments in Algeria have reached US$1 billion in the first half of this year, according to the Algerian Agency for Investment Development, KUNA reported. In a statement it issued, the agency said that Saudi investments in Algeria covered several sectors, including services, light industries, pharmacy and farming. The agency added that Saudi company Pharo Investment (sic) had won a 35 per cent stake in the Aljazaeri Cement company. |
Italcementi boosts it lead position in Egypt08 August 2005, Published under Cement NewsSuez Cement, Egypt’s leading cement producer and 54.2 per cent controlled by the Italcementi subsidiary Ciments Français, has concluded an agreement to acquire a 68.7 per cent stake in ASEC Cement Company, currently the fifth largest cement producer in Egypt, and will launch a public offer for the remainder of the ASEC Cement equity. The deal values ASEC Cement at around US$590m. Including debt taken on, the total cost of ASEC Cement is around US$800m, though through gearing up via Suez Ceme... |
Settlement in the case against IKN08 August 2005, Published under Cement NewsFLSmidth has agreed to a settlement with the German clinker cooler producer IKN Ingenieurbüro Kühlerbau Neustadt GmBH (IKN). Against this background, FLSmidth has dropped the planned civil action and claim for damages against the German competitor for unlawfully having acquired drawings and other material for the Crossbar clinker cooler developed and patented by FLSmidth. In connection with IKN’s use of the unlawfully acquired material in their marketing, IKN has offered FLSmidth a finan... |
Ciments Francais signs agreement for the purchase of Asec Cement, Egypt05 August 2005, Published under Cement NewsCiments Français, at the end of the due diligence period envisaged in the agreement announced on 13 June, has finalised an agreement for the purchase of 68.7% stake in ASEC Cement Company, the fifth largest cement company listed on the Cairo and Alexandria Stock Exchange, at a price of 29 EGP per share. The acquisition of ASEC Cement will be completed through Suez Cement Company, the Egyptian company, of which Ciments Français acquired the control at the start of this year. The transactio... |
Cement sales 4% growth, Pakistan05 August 2005, Published under Cement NewsCement sales for the first month of the new fiscal year have witnessed a growth of around four per cent, said a research report prepared by Jehangir Siddiqui and Company with the data collected from the industry. According to the report, cement sales for the first month of fiscal year 2006 stood at 1.43Mt in July 2005, which is four per cent higher on year to year than 1.38Mt in July 2004. Local sales stood at 1.30Mt compared to 1.25Mt last year, whereas, exports at 0.13Mt slightly dec... |
Hima cement to boost production05 August 2005, Published under Cement NewsThe Managing Director of Hima Cement, Mr Mbuvi Ngunze, has said after a successful six years since Lafarge acquired Hima Cement, the company is considering expanding production. "We have been profitable right from day one and given the potential of this market, we are now considering expansion," he said. Mbuvi who was speaking at a media briefing to mark six years of Lafarge’s acquisition of Hima Cement, said they are doing a feasibility study to ascertain the viability of the proj... |
Indonesia’s 2005 cement consumption seen slowing05 August 2005, Published under Cement NewsDomestic cement consumption in Indonesia could grow by less than eight per cent this year in the wake of the government’s move to increase fuel prices last March, a senior company executive said. That would be slower than the up to 10 per cent some analysts and industry executives have estimated on the back of rising demand for infrastructure and housing in Indonesia, Southeast Asia’s largest economy. "The government’s decision to take out the fuel subsidy has been directly affectin... |
Juan Minetti, Loma Negra appeal government fine, Argentina05 August 2005, Published under Cement NewsArgentine cement companies Juan Minetti and Loma Negra have appealed several hundred million pesos in fines that the government imposed on them last week for price collusion in the cement industry. In brief, separate statements filed Thursday to the local stock exchange, Juan Minetti and Loma Negra said they submitted formal appeals on Wednesday. The biggest penalty of ARS138.7m ($1=ARS2.8625) had fallen on Loma Negra, which was sold earlier this year to Camargo-Correa of Brazil ... |
Hanson’s Californian cement price 19% higher04 August 2005, Published under Cement NewsHanson increased total turnover in the first half by 8.7% to UK£1,893.8m, while the trading profit before gains on disposals and impairment charges rose by 28.4% to £196.0m. After an 18.0% reduction in the financing charge to UK£22.8m, the running profit before tax advanced by 38.8% to UK£173.2m. North American turnover rose by 9.2% to UK£768.1m and the trading profit in proved by 31.6% to UK£95.4m, helped by higher prices. The average cement achieved rose by 19.0% though shipments were ... |