Cement News tagged under: corporate
Prudential fund buys into CIMA30 September 2008, Published under Cement NewsPrudential Fund Management Bhd (PFMB) bought a substantial stake in Cement Industries of Malaysia Bhd (CIMA), whose controlling shareholder UEM Group Bhd is making a conditional takeover offer to buy out all the shares it doesn’t own in the cement maker. According to the filing to Bursa Malaysia, the institutional fund acquired 12.2m shares or 8.7 per cent equity stake in CIMA last Sept 22 from the open market but without stating the price it paid. UEMG was offering RM6.26 a share in CIMA ... |
Titan Cement Co drops 2.5 per cent on high volatility30 September 2008, Published under Cement NewsTitan Cement Company traded between an intraday low of €18.50 and a high of €19. The share price declined 48 Eurocents (or 2.5 per cent) to €18.52. Compared with the FTSE/Athex 140 Index which fell 223.5 points (or six per cent) on the day, this represented a relative price change of 3.5 per cent. There were 547 shares worth €10,171 (US$14,624) traded. The volume was 0.4 times average trading of 1,466 shares. The last price is at a discount of 37.6 per cent to the 12-month high of €29.70 a... |
Ambuja Cements slides 5.2 per cent, P/E improves to 7.230 September 2008, Published under Cement NewsAmbuja Cements fell for a second day on Monday bringing its two day fall to INR6.35 or 7.4 per cent. The share price slid INR4.35 (or 5.2 per cent) to INR79.40. Compared with the BSE Sensex Index which fell 506.4 points (or 3.9 per cent) on the day, this represented a relative price change of -1.3 per cent. As a result of the price decline the Price/Earnings multiple based on trailing twelve months earnings has improved to 7.2; the stock has a value percentile rank of 79.9 or rank of 142 ... |
Grasim Industries falling in a weak market with rising open interest30 September 2008, Published under Cement NewsGrasim Industries fell for a third day on Monday bringing its three day fall to INR175.0 or 9.1 per cent. The share price declined INR48 (or 2.7 per cent) to INR1750. Compared with the BSE Sensex Index which fell 506.4 points (or 3.9 per cent) on the day, this represented a relative price change of 1.2 per cent. Same day trend: Open Interest strengthened 0.3 per cent from 645,216 to 647,416. Combined with the price falling 2.7 per cent, this suggests the market is weak. |
HedielbergCement AG decreases 1.2 per cent, Trailing 66.3 per cent of stocks30 September 2008, Published under Cement NewsHeidelbergCement AG, decreased 94.0 Eurocents (or 1.2 per cent) to €75.61. In the German market of 1219 stocks, the stock has a six-month relative strength of 34 which means it has underperformed 66.0% of the market. The stock fell for a second day on Monday bringing its two day fall to Euro2.55 or 3.3 per cent. Compared with the DAX Index which fell 256.4 points (or 4.2 per cent) on the day, this represented a relative price change of three per cent. |
Dyckerhoff declines 2.9 per cent, P/E improves to 6.330 September 2008, Published under Cement NewsDyckerhoff AG declined €1.18 (or 2.9 per cent) to €39.82. Compared with the DAX Index which fell 256.4 points (or 4.2 per cent) on the day, this represented a relative price change of 1.4 per cent. As a result of the price decline the Price/Earnings multiple based on trailing twelve months earnings has improved to 6.3; the stock has a value percentile rank of 89.1 or rank of 599 out of 796 stocks with earnings. |
Tomson to sell 25% stake in cement unit30 September 2008, Published under Cement NewsTomson Group’s unit has put up 25 per cnet stake in Shanghai Tomson Guojian Concrete Co., Ltd. for sale at the Shanghai United Assets and Equity Exchange, sources reported. The listing price is RMB 3.47m. Tomson Group didn’t specify the reason for the sale. But the company denied it is because of the sharp fall in its net profit in the first six months of this year since Guojian Concrete only accounts for a small part of the Group’s business. According to Tomson’s interim report, its pre-t... |
Binani Cement to raise US$90m30 September 2008, Published under Cement NewsBinani Cement has revealed that the company is proposing to raise US$90m through International debt by March 2009 to increase its manufacturing capacities to twofold in China and Dubai by fiscal 2010. The source close to the company said that Binani Cement is looking at building grinding units in Africa. According to the reports, the proposed grinding unit would have an annual capacity of 1Mt and would entail an investment of approximately US$80-85m. The reports also revealed that company... |
Siberian Cement Holding puts off Turkish assets deal29 September 2008, Published under Cement NewsOn September 25, 2008 Siberian Cement Holding was to close the deal on acquisition of Italcementi Group - Set Group, comprising four Turkish cement and several concrete plants with freight terminals in the ports of Ambarli and Instanbul. However, Italcementi reported that the deal had been put off till October 20, 2008, citing no relevant reason for the delay. To remind, the Turkish company asked EUR600mln for its assets, Vedomosti reports. |
Binani Cement to raise US$90m for expansion29 September 2008, Published under Cement NewsBinani Cement Ltd plans to raise US$90m through overseas debt by next March to double its manufacturing capacities in China and Dubai by 2010, Managing Director Vinod Juneja told Reuters on Friday. At present, both units have 1 million tonnes per annum of manufacturing capacity each. "We are thinking to raise funds overseas to meet our China and Dubai expansion plans," he said. The company was also seriously looking at setting up grinding units in Africa, he added. "It coul... |