Cement News tagged under: corporate
Holcim successfully places a CHF1bn bond09 July 2009, Published under Cement NewsHolcim Ltd has issued a CHF 1 billion bond with a coupon of four per cent and a tenor of four years and five months. The proceeds will be used to refinance existing debt and for general corporate purposes. The bond will lengthen the average maturity of financial liabilities. The Holcim Group has refinanced around CHF3.8bn in 2009 in local bank and capital markets and successfully maintained its liquidity above the target of CHF5.3bn (cash and unused committed credit lines). Holcim Ltd is r... |
Hanson may list local unit on Australian Exchange09 July 2009, Published under Cement NewsHanson Ltd may list its local unit on the Australian stock exchange, the Australian Financial Review reported. The listing may occur later this year or in early 2010, with HeidelbergCement AG to retain a 50.1 per cent stake, the newspaper said in its Street Talk Column. Deutsche Bank AG has been appointed by HeidelbergCement to conduct an asset review to help pay down debt, the newspaper reported. Hanson Australia has been valued at as much as A$2.7bn (US$2.1bn) by analysts, the Review sai... |
Holcim sees difficult outlook for 200908 July 2009, Published under Cement NewsHolcim said 2009 would remain difficult with demand still weak in the United States, Spain and Eastern Europe but emerging markets helping to slow a decline in earnings. Holcim, which is tapping shareholders for fresh funds to buy the Australian business of Cemex for A$2.02bn, also said the gross proceeds from its capital hike would be SwFr2.1bn (US$1.9bn). The subscription price for the hike, announced last month, is 42 francs per share, at a 28 percent discount to the closing price of 58.... |
Siberian Cement Holding new President07 July 2009, Published under Cement NewsSiberian Cement Holding has announced the appointment of Georg Kleger as a new holding’s President with effect from July 6, 2009, the company’s press service said. |
Yanbu Cement Q2 net hits US$40.2m07 July 2009, Published under Cement NewsSaudi-based Yanbu Cement Company has posted a net profit of SR151m (US$40.27m) in the three months to June 30, when compared to SR149m (US$39.7m) a year earlier. In a statement on Saudi bourse website on Monday, Yanbu said its second quarter net profit rose 1.3 per cent. Yanbu gave no reason for the quarterly decline, saying only a 4.7 percent fall in first-half net profit to SR317m was due to lower sales. Yanbu Cement plans to spend SR1.5bn to raise its production capacity by 48 per cent ... |
Prism Cement April-June net at INR742.5m07 July 2009, Published under Cement NewsPrism Cement Ltd on Tuesday posted a net profit of INR742.5 rupees on net sales of INR2.7bn for the quarter ended June 30, it said in a statement to the exchange. |
Qassim Cement to double capital to US$240m06 July 2009, Published under Cement NewsSaudi’s Qassim Cement Co said Saturday it will double its capital to SAR900m (US$239.9m) to meet the company’s current and future expansion. The company will use reserves and retained profits for the 10 riyals per share capital boost, and distribute bonus shares after getting regulatory approval, it said in a statement on the Saudi bourse website. The company will also distribute a cash dividend of 6 riyals per share, for a total of SAR270m, out of first-half profit, it said in a separat... |
Yamama to take 20% stake in Yemeni Saudi06 July 2009, Published under Cement NewsSaudi Arabia’s third biggest cement firm by sales, Yamama Cement, has said that it has agreed to take a 20% stake in the Yemeni Saudi Cement Company for US$15m. Yemeni Saudi Cement owns a cement plant near the Yemeni city of Aden with a design capacity of 1.4Mta and which is expected to start production next year. The deal must be approved by the assembly of shareholders in Yemeni Saudi Cement Co for the legal proceedings and the agreement to be finalised. |
HVB controls 6.4 per cent of HeidelbergCement03 July 2009, Published under Cement NewsUnicredit’s German unit HVB holds a 6.4 per cent stake in HeidelbergCement AG as part of a loan-for-shares swap with Ludwig Merckle, who saw his stake in the cement maker decline. A spokesman for Merckle’s investment vehicle VEM said the swap was part of a so-called repo loan whereby Merckle ceded parts of his stake to the bank, which, in turn, cancelled some of Merckle’s debt. |
Not much value in merging with UltraTech: Grasim02 July 2009, Published under Cement NewsGrasim Industries, the leading cement maker of the A V Birla group, is not enthusiastic at a proposal to merge with its subsidiary, UltraTech, as it does not see value in the process at this stage. It says investment bankers suggested merging after engineering giant Larsen & Toubro sold its residual 11.5 per cent stake in UltraTech to financial investors this month. Grasim acquired UltraTech cement from Larsen & Toubro in 2003. In 2005-06, it created a single marketing team for both compan... |