Cement News tagged under: corporate
Polpaico to invest US$15m this year20 April 2004, Published under Cement NewsChile’s Cemento Polpaico will invest US$15m this year, company general manager Eduardo Kretschmer said during the company’s annual shareholders’ meeting. The investment will go towards the construction of a coprocessing plant fired by alternative fuels, the purchase of cement mixer trucks and projects aimed at rationalising costs. However, Kretschmer said that this year’s forecast 2-3 per cent cement sales increase will prevent companies from investing larger sums. The funds to be i... |
Semapa sells nine per cent stake in Cimpor16 April 2004, Published under Cement NewsPortuguese cement company Semapa has said it has sold its entire nine per cent stake in rival Cimpor SA for EUR251m. Semapa said that in Thursday’s market session it sold 8.77 per cent of its Cimpor stake, having sold 0.22 per cent in various market operations during the previous two months. The buyer of the block wasn’t identified. According to local news reports, Semapa booked a EUR40m gain from the stake sale, and that the buyer may have been Metalgest, a Portuguese investment... |
Zambrano in New York, but not China16 April 2004, Published under Cement NewsLorenzo Zambrano seems to be one of the few global chief executives not rushing into China - at least not yet. Such caution is uncharacteristic for Mr. Zambrano, the man who built Cemex into the world’s third-largest cement company by snapping up companies from Colombia to Egypt, and on to Indonesia. But the Chinese market, he says, is unattractive in a new interview with the New York Times "The industry isn’t profitable" there, he said, citing governmental factors like informal price contro... |
Egyptian National Cement extends bid15 April 2004, Published under Cement NewsEgypt’s National Cement Company (NCC), an affiliate of the state-owned Chemical Industries Holding Company (CIHC), has extended to May 16, 2004 the deadline for submitting offers in a sealed-bid tender for the sale of its old and new gypsum factories and related facilities. The deadline was initially set on April 14, 2004. The investors can also submit bids to lease the factories for a certain period of time, with an option for purchase. The factories can be bought or leased separately. ... |
Alexandria Portland Cement14 April 2004, Published under Cement NewsAlexandria Portland Cement, Egypt announced the release of FY03 results ending December,wherein the company sported a top line figure of LE235.3 million, illustrating a growth of 20.7 per cent over the previous LE195m balance in FY02. On a different note, capital losses stemming from asset revaluation acted as a forceful diluting factor to the bottom line balance,coming in at LE10m from a previous zero balance. The company will hold its ordinary general assembly on April 28 to approve FY0... |
Egyptian Ameriya Cement to raise capital14 April 2004, Published under Cement NewsEgyptian cement company Ameriya Cement will increase its capital to E£300m ($48.7m) from E£100m($16.2m), it was reported on April 13, 2004. The capital increase will be financed from the company’s reserves and will be carried out through a two-for-one bonus issue worth E£200m ($32.5m). The free shares will be distributed among shareholders registered by 14 April 2004. The distribution will start on 15 April 2004 through the Egyptian Misr for Clearing, Settlement and Central Depository (MCSD)... |
More concrete for Siam Cement13 April 2004, Published under Cement NewsCPAC Concrete Products, a unit of the Siam Cement Group, yesterday outlined plans to invest a total of 500 million baht this year to expand its five factories to support revenue growth. The move would enable CPAC to increase its revenue by almost 40 percent this year to 1.5 billion baht, according to managing director Anant Keskasemsook. Mr Anant said about 100 million baht each would be invested at CPAC’s factories in Lamphun, Khon Kaen, Si Racha, Nakhon Si Thammarat and Saraburi for new ... |
Turkish Bursa Cimento13 April 2004, Published under Cement NewsThe management board meeting of Turkish cement and clinker producer Bursa Cimento decided on April 8, 2004 to buy 50 per cent in local cement producer Tunckul Cimento. Bursa Cimento will buy 600,000 shares in Tunckul Cimento with a nominal value of 600 bln Turkish lira from diversified company Temtas Tavsanli Enerji. Bursa Cimento has an annual capacity of 2.9Mt of cement and 1.35Mt of clinker. |
Egyptian Sinai Cement goes for more loans13 April 2004, Published under Cement NewsEgyptian cement producer Sinai Cement will receive loans worth a total 245 mln Egyptian pounds ($39.8m) from the National Societe Generale Bank (NSGB) and HSBC Bank Egypt, it was reported on April 4, 2004. The company has signed a syndicated loan agreement for 200 mln pounds ($32.5m) with the two banks, under which NSGB will provide 120 mln pounds ($19.5m) and HSBC will extend 80 mln pounds ($13m). The loan will carry an annual interest of 12.75 per cent and will be repaid over a five-year ... |
Good interest in Saadi Cement stake13 April 2004, Published under Cement NewsPakistan: Several companies have shown interest in buying 51 per cent stake in Saadi Cement Ltd to help the company to run commercially. Faysal Bank Ltd, the financial adviser of the cement company, by Monday last has received a number of expressions of interest to buy the stake in the company. Three companies have shown interest and are expected to become potential buyers of Saadi Cement. They said that serious contenders are AKD Securities, Arif Habib Co, and Siddiq Sons. The break-up valu... |