Cement News tagged under: corporate
RAK cement firm’s quarterly profit nearly triple14 April 2009, Published under Cement NewsRas Al Khaimah Cement Co said its first quarter profit almost tripled as sales increased, Gulf News reported. Net income for the first quarter was Dh29.4 million, a gain of 187 per cent year on year, but a 25 per cent decline quarter on quarter. In the last two quarters, net margin improved to just over 30 per cent. According to Al Mal Capital, the company reported improved results because of better margins from sale of Powercrete and fewer interruptions in natural gas supply. However, an... |
Heidelberg nears bank deal-sources14 April 2009, Published under Cement NewsHeidelbergCement is drawing closer to a deal with its banks to fill a EUR6bn refinancing hole, sources with direct knowledge of the matter said on Thursday. The producer has seen borrowing costs soar, amid market worries that if earnings shrink, the company could be in breach of its loan terms, which would entitle banks to demand immediate repayment. HeidelbergCement has to repay a EUR5bn bond in the middle of next year as well as other debts. Now sources close to the talks between the com... |
Holcim mulls buying more assets in India14 April 2009, Published under Cement NewsAfter acquiring majority stake in ACC and Ambuja Cements, Holcim is open to buying more good quality assets in India. "We are always open to acquisition. However, nothing is brewing, as of now," Onne van der Weijde, Holcim’s Senior Vice President (South Asia) told PTI. Weijde said that large capacity was not the prime criteria that Holcim was looking at, but the target company has to be a good fit into its existing portfolio. "It has to be a good quality asset and a good fit into our p... |
CP Cimento stake to attract Cimpor and Holcim?09 April 2009, Published under Cement NewsThe possible interest of Portuguese cement company Cimpor in Brazilian sector firm CP Cimento is neutral for Cimpor, analysts with BPI said today. The opinion followed a report by mergers and acquisitions intelligence company Mergermarket saying CP Cimento’s owner, the Koranyi Ribeiro family, is studying the sale of between 30% and 100% in the Brazilian company. According to Mergermarket, Holcim and Cimpor are among the possible buyers. BPI said that the acquisition of CP Cimento will invo... |
Holcim increases bond by EUR150m09 April 2009, Published under Cement NewsHolcim Ltd said on Wednesday it had successfully increased a March 26 bond issue of EUR500m (US$660m) by EUR150m. The EUR650m raised was issued at 102.7 per cent and has a coupon of 9 percent and a yield of 8.293 per cent, and will be used to refinance existing debt and for general corporate purposes, the company said. |
Yanbu Cement 1Q09 net profit seen down 10%08 April 2009, Published under Cement NewsSaudi cement producer Yanbu Cement Co (YCC) said yesterday in a statement to the Saudi bourse it expects a 10% YoY decline in net profit to SAR152m (US$40.5m) in the first quarter of 2009. The projected decrease is based on the lower sales during the three-month period, YCC said without giving exact figures. The earnings per share (EPS) are expected at SAR1.45, down from SAR1.60. YCC sees its operating profit for the first quarter of 2009 reaching SAR154m, down from SAR SAR168m. Source: M... |
Adelaide Brighton to raise $100m08 April 2009, Published under Cement NewsAdelaide Brighton has announced a $100 million capital raising which will increase its shares on issue by about 10 per cent. The cement and building products manufacturer’s shares will remain in a trading halt until tomorrow while the company finalises an underwritten $75m - placement to institutional investors. Retail shareholders will be offered $25m in shares via a share purchase plan, under which each shareholder can subscribe for $10,000 in new shares. The placement will be made at $... |
Holcim seeks approval to buy Malaysian unit08 April 2009, Published under Cement NewsPT Holcim Indonesia, the nation’s third-biggest cement maker, said it will hold a shareholders meeting next month to seek approval for its plan to acquire a Malaysian-based affiliate of its parent. Holcim Indonesia plans a shareholders meeting on May 18 to ask for, among other things, approval to buy a 100 per cent stake in Holcim (Malaysia) Sdn Bhd from Holcim Ltd, Budi Primawan, a spokesman at the Indonesian company, said in Jakarta yesterday. Source: Bloomberg |
Taiwan Cement loan06 April 2009, Published under Cement NewsTaiwan Cement Corp, the island’s biggest maker of the building material, plans to borrow as much as NT$15bn (US$453m) to refinance maturing debt. “Interest rates are much lower now, so we are just refinancing for long-term purpose,” Huang Chien-chiang, a senior vice president at the Taipei-based company, said in a phone interview today. Mega International Commercial Bank is leading a group of banks that may provide the money as soon as next month, said Chen Chia-hsiung, a loan officer at t... |
?Billionaire Merckles’ banks sign extended standstill?06 April 2009, Published under Cement NewsGermany’s billionaire Merckle family has won an extension of bridge financing from its banks, buying more time to complete an evaluation of its assets in preparation for a sale. “The contract has been signed by all parties,” Vivien Kremer, a spokeswoman for Merckle’s VEM Vermoegensverwaltung GmbH, said in a telephone interview late yesterday. VEM is one of Merckle’s investment holdings that control HeidelbergCement AG and Ratiopharm GmbH. Merckle’s VEM agreed with more than 30 ban... |