Cement News tagged under: corporate
BankDhofar lead arranges project finance for Raysut Cement03 April 2011, Published under Cement NewsBankDhofar is the Lead Arranger for an international syndicate as it closed a landmark US$175m acquisition finance facility in favour of Raysut Cement Company to acquire Pioneer Cement Industries LLC, UAE which was owned by Ras Al Khaimah Industrial Authority and Penna Group of India. |
Votorantim Cimentos sells US$750m debt01 April 2011, Published under Cement NewsVotorantim Cimentos on Thursday sold US$750m of notes in the 144a private placement market, said IFR, a Thomson Reuters service. Bank of America Merrill Lynch, Itau BBA and JP Morgan were the joint bookrunning managers for the sale. |
Holcim Board member Robert F. Spoerry to not stand for re-election31 March 2011, Published under Cement NewsRobert F. Spoerry, Member of the Board of Directors of Holcim Ltd since 2008 will not stand for re-election at the Annual General Meeting of Holcim on May 5, 2011. This is because he has been elected Chairman of the Board of Directors of Sonova, a provider of provider of hearing healthcare solutions. . |
Heracles Group sales down 24.3%, Greece31 March 2011, Published under Cement NewsHeracles Group of Companies announced today sales of EUR401.41m for 2010, falling by 24.3% compared to 2009. Company sales were at EUR350.80m, down by 25.2% compared with 2009. The group΄s EBITDA was EUR14.32m and represented a decrease of 84.4% compared to 2009, while the company΄s EBITDA decreased by 75.8% compared with 2009, amounting to EUR22.56m. Sales in 2010 were mainly affected by the further slowdown in private construction activity in the domestic market as a combined result of... |
Mediobanca lifts price target on Italcementi30 March 2011, Published under Cement NewsExperts at Mediobanca have raised the share price target on Italian cement producer Italcementi to EUR7.60 from EUR 7.40. The bank confirmed its "neutral" rating on the cement maker’s stock. |
Cemex sells bond, covers debt until 201330 March 2011, Published under Cement NewsCemex sold US$800m in four-year bonds on Tuesday, its third bond issue this year, and said it now had almost enough money to pay creditors and avoid a penalty. Cemex sold the senior secured floating rate bonds denominated in dollars, the company said in a statement. It sold US$1bn of bonds in January and US$1.67bn of convertible notes earlier this month, pulling together funds to repay US$2.3bn in debt this year under a deal with its creditors and to avoid a US$200m fine. "As a result ... |
Price woes damp M&As in cement sector, India28 March 2011, Published under Cement NewsGlobal cement majors, who have been looking to strike M&A deals in India, are increasingly finding the existing high valuations in the 280Mt Indian cement industry a dampener. According to industry sources, despite an oversupply situation taking a hit on margins of cement companies, sellers are unwilling to lower their valuations and are still looking at a minimum enterprise value (EV) of $180 per tonne, whereas the replacement cost (cost of setting up a plant) is only about $100-120 per to... |
Egypt Misr Cement Qena to distribute EGP 16 dividend28 March 2011, Published under Cement NewsEgypt’s Misr Cement Qena said on Sunday it will distribute EGP16 ($2.69) cash dividend per share. The company posted a 21.6 per cent rise in full year 2010 net profit to EGP428.3m. Its shares rose 10 per cent on Sunday. |
China Shanshui Cement announces 2010 annual results28 March 2011, Published under Cement NewsChina Shanshui Cement, the largest cement enterprise in Shandong and Liaoning Provinces in China, announced its audited annual results for the 12 months ended 31 December 2010, prepared in accordance with International Financial Reporting Standards. In 2010, the Group’s revenue grew by 35.8% year on year to RMB11,854m. Gross profit increased by 43.2% YoY to RMB2,550m. Profit attributable to equity holders of the Company achieved substantial year-on-year growth of 39.6% to RMB979m. Basic ear... |
Ciments Français completes the sale of Turkish activities28 March 2011, Published under Cement NewsCiments Français (Italcementi Group), on Friday 25 March 2011 formally completed the sale of the Turkish subsidiary Set Group Holding to Limak Holding. The deal, announced on 25 February 2011, was subject to the approval by the relevant authorities in Turkey. Under the terms of the agreement, the sum paid at the closing was approximately EUR270m in cash. |