CIMA still in talks with Vicat

CIMA still in talks with Vicat
Published: 18 April 2006

UEM World Bhd said it is reluctant to give up control of its cement business to the Vicat Group, but it is still in talks with the French cement maker.  UEM World’s 54 per cent subsidiary Cement Industries of Malaysia Bhd (CIMA) wants to to position itself as a regional player.  Last month, the French cement company offered to buy a controlling stake in five of CIMA’s eight subsidiaries.  "They have looked at our cement business and assets and they are keen to work with us," UEM World chief executive officer Datuk Ahmad Pardas Senin said.   The offer is valid until June 1 2006. CIMA shares have risen more than 82 per cent so far this year.