Cement News tagged under: corporate
Australian cement bid ends up in court08 June 2004, Published under Cement NewsThe Australian Competition and Consumer Commission is seeking an injunction in the Federal Court to prevent Boral from taking any steps to acquire or exercise substantial influence over Adelaide Brighton. The Melbourne court has fixed a deadline of the 6th of August for the filing of claims and defence as well as industry evidence. The hearing of the competition case is expected to take place during the final quarter of 2004. In the interim, Boral has given a number of undertakings, notab... |
Brazil Portobello sells to Lafarge07 June 2004, Published under Cement NewsBrazil’s ceramic producer Portobello SA has sold its mortar producing subsidiary PortoKoll Ltda to Lafarge in a deal estimated at 28.1 mln Brazilian reais (US$8.97m) The purchase was made via Lafarge’s Brazilian subsidiary Qualimat Distribuidora de Materias de Construcao, producer of building materials. PortoKoll was founded in January 1999 and in a partnership with US tile setting grout and adhesives Custom Building Products built a plant in Itupeva, 75 km from the capital of the southe... |
ACCC moves to stop ABB07 June 2004, Published under Cement NewsThe Australian Competition and Consumer Commission (ACCC) has launched legal action to try to stop Boral’s takeover plans for cement maker Adelaide Brighton. The ACCC has opposed Boral’s bid, but the company indicated it would push ahead with its plan. The regulator wants the Federal Court to stop the building products maker from taking any steps to acquire or exercise substantial influence or control over Adelaide Brighton. |
Esther Koplowitz in negotiations07 June 2004, Published under Cement NewsMadrid: Esther Koplowitz could be close to signing a deal with Veolia, according to the newspaper Expansion. According to this source, some financial investors, (Ibersuizas, a UK and a French group) could be close to buying Veolia’s stake in FCC. This piece of news has come out some days before the FCCs AGM (June 23). Speculation about future developments on this unclear shareholder situation and the potential to reach a solution before the AGM, favour this kind of unconfirmed press releases... |
L&T to integrate divisions07 June 2004, Published under Cement NewsToubro will be integrating its engineering construction and contracts (ECC) division and its engineering and construction (E &C) business as part of a grand five-year strategy to more than double its turnover from Rs 10,000 crore now to around Rs 25,000 crore by 2008-2009. At the same time, L&T is working towards positioning itself as a global brand and has also earmarked Rs 500 crore this year for overseas acquisitions. The company has decided to almost treble its ready mix concrete (RMC... |
Turkish Sabanci turnover up04 June 2004, Published under Cement NewsSabanci Holding registered a 46 per cent year-on-year rise in its consolidated turnover to US$1.934bn (1.583bn euro) for the first three months of 2004, according to Sabanci Holding CEO, Celal Metin. The company’s combined exports (all divisions) climbed by 11 per cent YoY to US$228.7m (187.2m euro) for the first quarter of 2004. Sabanci Holding posted a consolidated net profit of US$111.8m (91.5m euro) while its pre-tax profit grew 211 per cent YoY. Sabanci Group is one of Turkey’s two ... |
Cemex shareholders opt to capitalise04 June 2004, Published under Cement NewsCemex said on Thursday more than 96 per cent of shareholders opted to take dividend payments in new shares in a capitalization of the world’s No 3 cement maker. Cemex often gives shareholders the option of receiving dividend payments in shares - traditionally at a discount to the share price - or in cash. "Approximately 96.14 percent of shareholders opted for the handover of CPO shares, representing the issuance of a total of 75.4 million CPOs," Cemex said in a statement. |
Guj Ambuja gets nod for ACRL merger04 June 2004, Published under Cement NewsGujarat Ambuja Cements announced that it has received the approval from the Board for Industrial and Financial Reconstruction (BIFR) for merging Ambuja Cement Rajasthan Ltd (ACRL) with itself. Gujarat Ambuja has successfully managed to negotiate its terms with BIFR, as a pre-condition to the merger of the ailing unit with itself. |
Egyptian Misr Cement Qena Reports US$2.6 M net profit Q1 200403 June 2004, Published under Cement NewsEgyptian cement producer Misr Cement Qena posted a net profit of 15.92m Egyptian pounds (US$2.6m/2.1m euro) for the first quarter of 2004, against a net loss of 5.79m pounds (US$937,000/769,000 euro) in the same period of 2003. The company’s improved performance was attributed to the 114.65 per cent YoY rise in net sales to 66.48m pounds (US$10.8m/8.8m euro), which was accompanied by a 53.2 per cent increase in the cost of sales to 39.45m pounds (US$6.4m/5.2m euro). As a result, gross pr... |
Jurong Cement share premium overstated02 June 2004, Published under Cement NewsAn incorrect accounting treatment made in the 1997/1998 accounts has resulted in an overstatement of Sin$13.35 million in Jurong Cement’s share premium in associated companies. Calling it ’an innocent and isolated oversight’, a company spokesman told local reporters. In a statement dated May 31 and posted on Masnet yesterday, Jurong Cement said: ’During the current year’s audit, the auditor informed the company that a consolidation adjustment passed through in the 1997 and 1998 accounts res... |