Cement News tagged under: corporate
Merckle loses blocking minority in HeidelbergCement01 October 2009, Published under Cement NewsLudwig Merckle holds only 24.42% in German cement maker HeidelbergCement after he sold around half of his shares and a capital hike was carried out, the company said on Tuesday. Previously Ludwig Merckle, the son of Adolf Merckle, owned 72% in HeildelbergCement. The billionaire Adolf Merckle killed himself in January after amassing a mountain of debts. The proceeds from the sale totalling some EUR 1.65bn (US$ 2.413bn) may help Merckle cut his debts estimated at around EUR 8 billion so that... |
Semen Gresik plans to buy state-owned paper producer29 September 2009, Published under Cement NewsIndonesia’s largest cement producer, PT Semen Gresik is exploring the possibility to acquire a local state-owned paper producer PT Kertas Kraft Aceh to strengthen its cement packaging business, says an official. State Minister for State Owned Enterprises Sofyan Djalil said last week that the state-run cement company was in the initial stages of acquiring the ailing state-owned packaging manufacturer KKA. The government controls a 51 percent stake in Semen Gresik, whil... |
Vietinbank Finances VND700bn for Vietnam plant29 September 2009, Published under Cement NewsVietnam Joint Sock Bank for Industry and Trade (VietinBank) has inked a deal to finance VND700 billion ($39.23 million) for ROLI Investment JSC’ underway cement plant in the central province of Quang Tri, the Vietnam News Agency reported Sept 25. Vietinbank’ Quang Tri, Thua Thien Hue and Nam Sai Gon branches and ROLI company signed the 10-year lending deal on Sept 24. Kicked off on June 26 in Cam Lo district, the plant will have an annual production capacity of nearly 1.2 m... |
China Resources Cement raises HK$6.39bn via HK IPO29 September 2009, Published under Cement NewsChina Resources Cement Holdings Ltd(1313), the largest cement producer in South China, has raised HK$6.39 billion through an initial public offering on the Hong Kong Stock Exchange, the Wall Street Journal reported, citing one source familiar with the matter as saying. The company sold 1.64 billion shares at HK$3.90 per share, the maximum it sought, said the source, adding that trading in the shares is scheduled to start on Oct. 6. The cement producer earlier had set a price range of H... |
Holcim names Thackwray to executive Committee as of 201029 September 2009, Published under Cement NewsHolcim Ltd Tuesday said it has named Ian Thackwray, currently CEO of Holcim Philippines, to the company’s executive board as of the beginning of 2010, and announced two other changes within its regional management. Thackwray will join the Executive Committee at the beginning of 2010 and commence to make himself familiar with the regional responsibility of Executive Committee Member Tom Clough. With effect from July 1, 2010, he will succeed Tom Clough, who will be retiring. Th... |
ACC to raise US$62.5m via bonds25 September 2009, Published under Cement NewsIndia’s largest cement maker, plans to raise INR3bn (US$62.5m) via bonds, two sources with knowledge of the matter. The company, in which Swiss cement maker Holcim holds more than 46 percent, will sell five-year bonds carrying a coupon rate of 8.45 per cent. HSBC Bank is the sole arranger, the sources said. |
HeidelbergCement rating outlook raised to positive by Moody’s25 September 2009, Published under Cement NewsHeidelbergCement’s credit rating may be raised by Moody’s Investors Service after Germany’s biggest cement maker took in EUR2.25bn (US$3.3bn) selling new shares this week. Moody’s changed its outlook on the rating, currently four levels below investment grade at B1, to positive from negative. The company “has been raising funds beyond the upper range of expectations,” Moody’s lead analyst Matthias Hellstern said in a statement. He said the company will probably extend its debt maturity pro... |
Sekhsaria to replace Neotia at Ambuja, India24 September 2009, Published under Cement NewsAmbuja Cements chairman Suresh Neotia has stepped down from the board of the company after serving the cement maker for over two decades. Mr Neotia relinquished his position due to personal reasons, the company said in a statement. He will be replaced by vice-chairman NS Sekhsaria from Thursday. Paul Hugentobler, a director of Ambuja Cement, will be the new vice-chairman. The decision was taken on Wednesday at the company’s board meeting. Ambuja Cements is a part of Holcim, which holds aro... |
Holcim US Finance/ Holcim Cap sells US$1bn debt24 September 2009, Published under Cement NewsHolcim US Finance and Holcim Capital Corp on Thursday sold US$1bn debt in a two-part offering, said IFR, a Thomson Reuters service. The sale included US$750m in 10-year notes priced to yield 280 basis points over comparable U.S. Treasuries and US$250m in 30-year bonds yielding 290 basis points over Treasuries. The joint book managers on the sale were Banc of America Merrill Lynch, Citigroup and Deutsche Bank. |
Merckle’s HeidelbergCement stake at 25 per cent -source23 September 2009, Published under Cement NewsLudwig Merckle will be left with roughly 25 percent in HeidelbergCement after a share sale, a person familiar with the matter told Reuters on Tuesday. As part of the transaction, lender UniCredit is cutting its 6.4 per cent stake in the German cement maker significantly, the source also said. Ludwig Merckle, heir to an indebted business conglomerate that includes Ratiopharm, previously held 72.4 per cent of HeidelbergCement’s shares. The company declined to comment on the matter, saying w... |