Cement News tagged under: corporate
Polpaico major share trade sees Gasco exit29 December 2010, Published under Cement NewsChilean natural-gas supplier Gasco SA has raised 54.8 billion Chilean pesos (US$116.7m) after selling its 40.9% stake in local cement maker Cemento Polpaico SA this week. The proceeds from the sale of 7.31 million shares of Cemento Polpaico will be used to fund Gasco’s development of projects in Chile and Colombia – reports Dow Jones in New York "The proceeds will go towards the company’s core business, especially liquefied gas in Colombia and vehicular gas, [specifically] natural and liqu... |
Lafarge sells aggregate and ready-mix assets28 December 2010, Published under Cement NewsLafarge has announced two disposals totaling circa €120 million, as part of its 2010 divestment plan. Lafarge has disposed of the integrality of its Aggregates & Concrete business in Portugal (29 concrete plants and 4 aggregates quarries) to the Portuguese construction group Secil. This transaction is subject to approval Lafarge has also sold its Aggregates & Concrete business in Alsace and Switzerland, including eight concrete production plants (four in Alsace and four in Switzerland) an... |
Holcim acquires aggregate and ready-mix operations28 December 2010, Published under Cement NewsHolcim has acquired several aggregates and gravel operations and ready-mix concrete plants in Switzerland and France. Holcim, together with a French partner, Eiffage Travaux Publics, has purchased eight aggregates and gravel quarries and four ready-mix concrete plants in Alsace (France) and Holcim (acting alone) four ready-mix concrete plants in the Basle area (Switzerland) from Lafarge as of January 2011. This strategically attractive acquisition will allow Holcim (Schweiz) AG and Holcim (... |
New Chinese partnership for KHD28 December 2010, Published under Cement NewsGerman cement manufacturing specialist KHD has announced a significant strategic partnership with China-based CATIC Beijing Ltd a subsidiary of China’s state-owned CATIC International Holdings Ltd, to capitalize on the rapidly expanding international market for cement plant construction. KHDs Director Jouni Salo said that KHD and CATIC combined will be able to bid on a wider range of projects, including large turnkey projects, and penetrate the most important cement markets including China... |
Further ACC purchases by Holcim28 December 2010, Published under Cement NewsHolcim Group has started strengthening its stake in its Indian subsidiary ACC through further small-scale share purchases for the first time since September 2008. Ambuja Cement India and three other Holcim entities have raised their stake in the company by 2.01% to 48.21% through open market transactions between December 10 and 24, ACC said in a notice to stock exchanges on Monday. These purchases seems to be part of creeping acquisition that allows promoters to increase their stake in a c... |
Maybank upgrades Lafarge Malayan Cement to buy23 December 2010, Published under Cement NewsLafarge Malayan Cement (LMC) has outperformed its cement and steel peers by 3% and 11% year-to-date (YTD) respectively and the stock now trades at 15.4 times 2012 earnings, which we expect to be a peak demand year for cement in view of major infrastructure projects in Greater Kuala Lumpur (KL) starting in 2011. Nonetheless, 2012 could mark the start of sustained demand for cement driven by the LRT, MRT, and government land development projects, according to analysts at Maybank IB Research.... |
China Resources inks loan deal23 December 2010, Published under Cement NewsChina Resources Cement Holdings Ltd, the largest cement producer in South China by output, said it has signed a fixed-term loan agreement worth HK$500m (US$64m) with a bank, sources reported. In a statement filed with the Hong Kong Stock Exchange, the cement producer said that the loan deal has a term of four years. China Resources Cement did not disclose the name of the bank and other details in the statement. Pursuant to the agreement, the bank has the right to terminate the agree... |
Ciments Français merger approved23 December 2010, Published under Cement NewsCiments Français General Meeting of Shareholders approved today the merger by and into Ciments Français of Société Internationale Italcementi France (SIIF). Italcementi S.p.A., SIIF sole associate, also approved the transaction today. The merger is therefore fully effective with Italcementi S.p.A., having received the same amount of shares and voting rights as SIIF prior to the merger, becoming direct shareholder in Ciments Français. |
HeidelbergCement to invest in Russian plant22 December 2010, Published under Cement NewsGerman group HeidelbergCement intends to invest over RUR4bn (US$129.65m) in a project to build the second production line at the Cesla cement plant in Slantsy, Leningrad Region, 175km (109 miles) southwest of St Petersburg. |
Dangote cement price estimate raised at Stanbic22 December 2010, Published under Cement NewsDangote Cement Plc, Nigeria’s biggest company by market value, had its price estimate raised to NGN171 a share at Stanbic IBTC Bank Plc, citing its highest capacity utilisation in the fourth quarter. The estimate was increased from 170.5 naira, the Lagos- based bank said in an e-mailed statement. Stanbic reiterated its “buy” recommendation on the company. The new price estimate implies a 43 percent upside to the stock’s current price of 120 naira. Dangote Cement shares started trading on... |