Cement News tagged under: international
Benue Cement change26 January 2004, Published under Cement NewsPresident of Dangote Group, Alhaji Aliko Dangote, has now taken over affairs of the ailing Benue Cement Company (BCC) Plc as the new core investor with a firm pledged to turn around the fortunes of the Gboko-based plant which has an envisaged turnover of N40 billion per annum in the next 12 months. Dangote announced plans for the cement plant in Makurdi at a brief ceremony where the Bureau of Public Enterprises (BPE) at the Government House Makurdi officially handed over BCC to him. The cere... |
Gujarat Ambuja to expand capacity26 January 2004, Published under Cement NewsIndia’s fourth largest cement manufacturer, Gujarat Ambuja Cement Limited, is going in for capacity addition either through fresh acquisition or brownfield expansion. "The company cannot remain static... it has to grow," GACL Chairman Suresh Neotia, when asked whether it was planning capacity expansion either through fresh acquisition or brownfield expansion. Neotia said associate company Ambuja Cement Eastern Limited was going for a 50 per cent capacity expansion and awaiting necessary ap... |
Feldschuh named head of Nesher26 January 2004, Published under Cement NewsYoel Feldschuh has been appointed CEO of the Nesher cement monopoly. The firm’s board of directors has approved the appointment, and Feldschuh will take over on February 2, replacing Herzl Ozer, who quit a month ago. Feldschuh is considered a close confidant of Nochi Dankner the chairman of IDB Holdings, which controls Nesher through its Clal Industries subsidiary. Feldschuh had previously served as CEO of El Al, and last year was appointed CEO of the Supersol supermarket chain, also controll... |
Eco-cement to hit CRH profits26 January 2004, Published under Cement NewsCRH stands to lose Euro10m a year as a result of new government measures to make up to 25 per cent of all cement used in state-funded projects more environmentally friendly. Draft proposals being considered by Martin Cullen, the environment minister, would force CRH to purchase more eco-friendly cement from third-party sources or convert some of its plants to produce it. Department officials have already held talks on the issue with construction industry representatives and the minister is ... |
Diamond Cement expands23 January 2004, Published under Cement NewsDiamond Cement Ghana Limited (DCGL) a cement company in Aflao, Ghana has stated that products of the company could be obtained from the Volta, parts of Greater Accra, Eastern and the Northern regions. This was noted at the launch of the company's two new cement grades 42.5 and 52.5, in addition to the 32.5 grade cement produced by the Company. The company claims to be employing the state-of-the-art technology, particularly the Sturtivent third generation separator as part of the clinker... |
Yamamah profit rise23 January 2004, Published under Cement NewsAccording to Riyadh newsources, the Yamamah Cement Company reported SR 386.6 million profits last year (US$103m) compared with SR 320 million in the previous year. The earning per share also rose from SR 35.5 to SR 42.9 through the same period. The companys capital amounted to SR 450 million and the total owners equity value amounted to SR 1,346 million by the end of 2003. |
Baltsem boosts output23 January 2004, Published under Cement NewsIn 2003, Ukraine's major producer of cement, the Baltsem plant, (Balakleia, Kharkiv region) increased its production volume by 19.1 per cent, or UAH 24.995 million, compared with 2002, up to UAH 156.154 million according to a representative of Baltsem. According to him, in 2003, the plant boosted the output of cement by 15.4 per cent or 201,000t compared with 2002, up to 1,504,200t. Meanwhile, the clinker burn volume rose by 7.6 per cent, or by 71,700t, up to 1,021,000t. |
Bankruptcy court delays compromise23 January 2004, Published under Cement NewsA decision on a compromise over the restructuring of TPI Polene Plc has been postponed for three months in the Central Bankruptcy Court, pending a decision by Krung Thai Bank, one of the company's creditors, on refinancing some loans. The delay comes only a week after TPI Polene raised new capital through a successful share issue in which demand outstripped shares on offer. Apichart Pantkaesorn, a legal adviser of Bangkok Bank, TPIPL's main creditor, said the court's chief justice Phisuth ... |
Boral acquires two Queensland concrete companies23 January 2004, Published under Cement NewsBuilding products firm Boral, which is engaged in an A$840m takeover bid for cement and lime company Adelaide Brighton, has acquired two cement companies in Queensland. Boral said it paid A$12m for the two companies: Smith's Premix in Bundaberg and Smith's Longreach in Longreach. "These two bolt-on acquisitions further strengthen Boral's leading market position in construction materials in Queensland, positioning us well in a high growth market," Boral managing director Rod Pearse said. The ... |
Holcim announced a cash bid23 January 2004, Published under Cement NewsHolcim has announced a cash bid for the 31 per cent minority in its largest profit earner, Mexican Holcim Apasco worth US$749m. Analysts at Merrill Lynch estimate Holcim is paying 5.4x 04E EV/EBITDA, 11.7x P/E, or US$230/tonne of capacity not excessive given the high profitability of the Mexican market (EBITDA margins over 44 per cent including some ready-mix concrete volumes). This move as aimed at full control of Apasco¹s cashflow the group has net cash (US$70m at end-03E) and generat... |