Cement News tagged under: corporate
Cemex announces global public offering09 September 2009, Published under Cement NewsCemex announced today that it commenced a global public offering of 1,200 million of its Ordinary Participation Certificates (CPOs), directly or in the form of American Depositary Shares (ADSs), plus up to an additional 180 million CPOs, directly or in the form of ADSs, to cover over-allotments. Included in the offering are 595 million CPOs (directly or in the form of ADSs) that will be sold on CEMEX’s behalf by three of its subsidiaries. Of the 1,200 million CPOs being offered, it is expe... |
Competition Board approves Van Cimento deal, Turkey08 September 2009, Published under Cement NewsThe competition board announced that it approved the deal between local cement maker Askale Cimento and Lafarge for the former to acquire full control in peer Van Cimento. In July, Askale Cimento announced that it purchased peer Van Cimento for EUR 33mn. Van Cimento was founded in 1969 in the city of Van in eastern Turkey . The company was later bought by local Uzan Group before being seized by the state. Egypt-based OCI acquired Van Cimento that later became a member of Lafarge Group as... |
UltraTech rating reaffirmed, India07 September 2009, Published under Cement NewsCredit rating agency, CRISIL has withdrawn its ratings on UltraTech`s INR1.50-billion non-convertible debentures and Rs 1.06-billion short-term buyers credit, as the obligations have been redeemed. The ratings on the company`s other debt programmes and bank facilities have been reaffirmed at AAA/Stable/P1+. The ratings continue to reflect Grasim Industries (Grasim`s rated AAA/Stable/P1+ by CRISIL) large stake-holding in UltraTech, and the fact that the two companies are in the same line of... |
Cemex shareholders approve issue of new shares worth US$2bn07 September 2009, Published under Cement NewsShareholders of Cemex have approved a resolution to issue US$2bn worth of shares, equivalent to 1.6bn ordinary participating certificates (CPOs), according to a company release. The resolution, approved at an extraordinary general shareholders meeting, will allow the subscription and payment of CPOs to be carried out by a public offering or through issuing convertible bonds, either of which would have to be done within a period of 24 months. In August, Cemex completed its plan to refinance... |
West China Cement pretax profit up, debates listing location04 September 2009, Published under Cement NewsWest China Cement Ltd said its first-half pretax profit more than doubled, mainly reflecting higher cement prices and margins, and that it was on track to produce around 7.5Mt of cement from next year. The cement producer, which operates in Shaanxi Province in China, will actively seek opportunities for further growth by investment in new capacity or by acquisition, it said in a statement on Tuesday. For the six months ended June 30, the company posted a pretax profit of CNY186.9m (US$27.4... |
China Resources to expand after HK$4b offering03 September 2009, Published under Cement NewsChina Resources Cement Holdings, a spin-off from China Resources Holdings, aims to boost annual capacity 1.7 times by the end of next year, fuelled by a proposed Hong Kong initial public offering early next month, a research report said. The firm plans to sell 1.6bn new shares, or 25.5 per cent of its outstanding share capital, to raise up to HK$4bn from the long-awaited offering. |
Cimpor’s Teixeira Duarte resigns03 September 2009, Published under Cement NewsPortugal-based Cimpor has announced that Pedro Teixeira Duarte has resigned from its management board. He has cited professional reasons for his departure. |
BRI provides L/C for Semen Gresik03 September 2009, Published under Cement NewsPT Bank Rakyat Indonesia Tbk (BRI) provides the letter of credit (L/C) facility worth EUR33.3m and US$10.4m to PT Semen Gresik Tbk to guarantee the importation payment of the major equipment of cement mill project unit IV in Tuban. As to President Director of Semen Gresik Dwi Soetjipto, the deal on the facility contract worth IDR584bn has made all L/C needs of the cement mill unit IV construction in Tuban, East Java, covered. The ground breaking of Tuban IV was done by State Enterprise Mi... |
Peru’s Brescia buys part of Lafarge Chile unit02 September 2009, Published under Cement NewsPeru’s Brescia group has completed the purchase of a large stake in the Chilean unit of Lafarge SA, the Peruvian conglomerate said late Monday. In a filing to Peru’s securities regulator, Brescia said that some of its subsidiaries had agreed to pay US$435m for Inversiones Blue Circle Chilean Holdings Limitada, which controls Lafarge Chile SA A unit of the Brescia group said it had paid US$292m so far for various packages of shares in the Chilean cement producer. The Brescia group on Augus... |
Portuguese Cimpor still wants to sell C+PA01 September 2009, Published under Cement NewsCimpor still wants to sell its 48% stake in C+PA after the failure of the sale agreement with builder Teixeira Duarte in May. Teixeira Duarte is the holder of the other 52% in C+PA. C+PA holds cement assets and a shareholding in commercial bank Millennium bcp. Cimpor included the stake in C+PA among the assets for sale in its report for the first-half earnings presented this week. C+PA had a negative effect of EUR4.249m (USD6.1m) on Cimpor’s results for the period. Cimpor did not give in... |