Cement News tagged under: Bestway Cement
Bestway acquires Lafarge Pakistan unit24 April 2015, Published under Cement NewsBestway Cement Ltd, a subsidiary of Bestway Group, has taken management control of Lafarge Cement's plant located near Kallar Kahar, Pakistan. To mark the acquisition, a ceremony was held at the plant on Wednesday, which was attended by Sir Anwar Pervez, the owner of Bestway Group and Amr Ali Reda, the CEO of Lafarge Pakistan, among others. In July 2014 Bestway successfully bid for a 75.86 per cent of Lafarge Pakistan’s shares for an enterprise value of US$329m. Bestway Cement... |
Bestway Cement first-half profit up 5% YoY05 March 2015, Published under Cement NewsBestway Cement of Pakistan has posted a five per cent rise in half-year net profit to PKR3.94bn compared to PKR3.75bn (US$36.8m) in the comparative period of the previous fiscal . The second quarter (October-December 2014) proved better for the company as it earned PRK2.34bn, up 12.5 per cent YoY. Bestway Cement has three plants in the north of the country (one in Chakwal and two in Hattar) and a current production capacity of 5.9Mta. In July 2014, however, Bestway secured the purchase of... |
Lafarge sells Pakistan cement operations24 July 2014, Published under Cement NewsLafarge announced the sale of its cement operations in Pakistan for an enterprise value of US$329m to local producer Bestway Cement. Lafarge Pakistan Cement Ltd, in which Lafarge owns a 75.86 per cent stake, operates an integrated cement plant located close to Islamabad in the north of the country. The divestment contributes to Lafarge’s net debt reduction goals, the company said in a statement. Completion of the deal is subject to regulatory approval. |
Lafarge Pakistan to go under hammer26 June 2014, Published under Cement NewsThree leading Pakistan cement producers are gearing up to acquire a majority holding in Lafarge Pakistan, with the bidding process expected to be concluded in the coming weeks. Bestway Cement, DG Khan and Kohat Cement, have received approval from their respective board of directors to separately bid for the acquisition of acquisition of 1.1bn ordinary shares of PKR10 each of Lafarge Pakistan, representing 75.86 per cent of the total issued and paid-up share capital of Lafarge Pakistan. ... |
A trio of producers eye Lafarge Pakistan Cement08 May 2014, Published under Cement NewsA three-way struggle looms for Lafarge Pakistan (LPCL) as Kohat Cement is the latest party to announce its interest in the assets of the only major cement producer in Pakistan. Kohat Cement's interest follows that of DG Khan Cement and Bestway Cement who are both keen on the purchase. The divestment of LPCL follows 'the merger of equals' to establish LafargeHolcim, which will become a giant cement producer in more than 90 countries with a balanced exposure to both developed and high growth m... |
Pakistan: Lahore Stock Exchange delists Mustehkam Cement after Bestway merger27 December 2013, Published under Cement NewsLahore Stock Exchange has delisted Mustehkam Cement as the company merges with Bestway Cement on 26 December. The move finalises a process that saw Mustehkam Cement shareholders approve the merger last May with the Islamabad High Court following suit on 30 September 2013. |
Bestway and Mustehkam Cement complete merger27 November 2013, Published under Cement NewsPakistan cement producers Bestway Cement and Mustehkam Cement have announced the completion of their merger into a single company. Mustehkam Cement has been a subsidiary of Bestway Cement since in 2005 and the main of objective of this new merger is to operate the businesses under one management to achieve economies of scale. The merger would result in administrative and procurement savings and reduce marketing costs leading to enhanced profitability, the companies said when the move was f... |
Mustehkam Cement and Bestway Cement to merge, Pakistan24 April 2013, Published under Cement NewsTwo Pakistan-based cement producers, Mustehkam Cement and Bestway Cement, have informed the Karachi Stock Exchange (KSE) of their intention to merge and operate as a single company. The board of directors of both companies are scheduled to meet on 6 May to approve the amalgamation. Mustehkam Cement has been a subsidiary of Bestway Cement (and part of the Bestway Group) since in 1995. Therefore, the main objective of the merger is to operate the businesses under one management to achieve e... |
Bestway Cement's full year profit increases, Pakistan02 October 2012, Published under Cement NewsPakistan-based cement producer Bestway Cement announced that its profit after tax increased to PKR3.06bn in the year ended 30 June 2012 (FY12) compared to PKR179.230m in the corresponding period in FY11, according to reports in the Business Standard. Earnings per share has increased to Rs 5.29 in the period under review against Re 0.57 in the same period last year. According to the financial results sent to Karachi Stock Exchange on Monday turnover increased to PKR17.788bn in FY12 against... |
Bestway Cement net profit rises, Pakistan01 March 2012, Published under Cement NewsBestway Cement Limited has posted PKR724.99m (US$274,8m) net profit in the half year period ended December 31, 2011 compared to after tax loss of PKR477.050m in the corresponding period in 2010. Earnings per share stood at PKR1.25 under review against a loss of PKR1.46/share in the same period a year back. Net turnover rose to PKR7.932bn in the half year period in 2011 against PKR5.681bn in the same period in 2010.??The company posted PKR1,095.687m pretax profit in the half year period a... |