Corporate

06 March 2007

Aveng keeps talking to Holcim over sale of shares to BEE group

Aveng is continuing its “constructive engagement” with Holcim over a proposed R6.82bn deal aimed at giving Holcim South Africa a black-controlling shareholder.

05 March 2007

Gresik targets 3% rise in sales this year

Indonesia’s largest cement producer PT Semen Gresik said it is targeting a 2-3 per cent increase in cement sales to 16.47Mt this year after zero growth last year.

05 March 2007

Semapa FY sales up four per cent as weak cement ops offset strong Portucel

Semapa SGPS said sales grew four per cent to EUR1.547bn last year from a restated EUR1.490bn in 2005 as weak sales a

05 March 2007

Private equity sniffing Rinker

The major private-equity groups are preparing to enter the bidding for takeover target Rinker, an analyst’s report claims.

02 March 2007

Readymix FY pretax profit up 32 per cent

Irish cement maker Readymix PLC reported a 32 per cent rise in full-year pretax profit, as a result of favourable economic conditions and a range of performance improvement initiatives.

02 March 2007

Bío Bío 2006 profits surge 82% to US$89m

Chilean company Cementos Bío Bío saw net profits climb 81.9% to 48.0bn pesos (US$88.8m) last year compared to the 26.4bn

02 March 2007

Rival takeover pressures Cemex bid

Cemex is under new pressure to jack up its US$12.8bn ($16.3bn) hostile takeover bid for Rinker after the latest play by Holcim for Canada’s St Lawrence Cement Group.

01 March 2007

India Cements Board approves Visaka merger

India Cements today said its Board of Directors has decided to merge Visaka Cement Industry, an associate company with itself and has also appro

01 March 2007

Frere aiming to raise Lafarge stake

Belgian financier Albert Frere is planning to eventually raise his stake in French cement maker Lafarge to 30 per cent,

28 February 2007

India Cements to issue 1 share for 5 held in Visaka

India Cements Ltd. said on Wednesday its board approved the merger of its associate, Visaka Cement Industry Ltd.

27 February 2007

Holcim Q4 net profit seen strong at SwFr414m amid good weather

Holcim is expected to report on Wednesday a strong fourth-quarter net profit of SwFr414m, supported by exceptionally good weather conditions and improved pricing power, analysts said

27 February 2007

GCC Reports 2006 Fourth Quarter and Full Year Results

The record growth in GCC’s results in 2006 reflected the successful integration of acquisitions and solid organic growth derived from higher volumes

26 February 2007

Oman: Raysut Cement profits more than double in 2006

Officials at Raysut Cement announced that the company’s net profits have more than doubled to $53.6 million in 2006, compared with $26.06m in the previous year, Times of Oman reported.

26 February 2007

Orascom prepares tender offer for cement producer Baticim

Egypt’s Orascom Construction Industries (OCI) applied to the capital markets board for a voluntary tender offer for A and B class shares of the cement producer Baticim Bati Anadolu Cimento.

26 February 2007

Lafarge aims to increase cement capacity by 40Mt by 2010

Excluding the roofing business, which is being sold, Lafarge increased its turnover last year by 16.7% to €16,909m and the EBITDA improved by 19.7% to €3,704m.

23 February 2007

Hanson plays down takeover target rumours

Industrial group Hanson has played down rumours that it has been made a takeover target.