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Displaying items by tag: board

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Tokyo Cement Group announces death of board member Ranjeevan Seevaratnam

20 January 2023

Sri Lanka: Tokyo Cement Group has expressed its deepest condolences to the family of Ranjeevan Seevaratnam, a member of the company's board of directors, who died on 19 January 2023. Seevaratnam's board experience spanned multiple companies in the cement, activated carbon, agriculture, construction, consumer goods, engineering, rubber and transport industries. He held memberships in the Institute of Chartered Accountants of Sri Lanka and the Institute of Chartered Accountants of England and Wales.

Tokyo Cement described Seevaratnam as a 'visionary thought leader.'

Published in Global Cement News
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Lucky Cement mourns death of chair Muhammed Yunus Tabba

03 January 2023

Pakistan: Lucky Cement announced the death of Muhammed Yunus Tabba ‘with deep sorrow and grief’ on 3 January 2023. At the time, Tabba was serving as chair of the company’s board and as a non-executive director of the company.

Lucky Cement instructed investors that it will fill Tabba’s former roles ‘in due course, as per the requirement of law.’

Published in People
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Jaypee Power Ventures considering sale of Nigrie grinding plant

12 December 2022

India: Jaypee Power Ventures' board of directors met on 12 December 2022 to discuss the possible sale of the company's Nigrie grinding plant in Madhya Pradesh. Press Trust of India News has reported that parent company Jaiprakash Jaypee Group's audit committee recommended the sale under proposed measures to reduce the group's debt. The producer had been in talks with Adani Group about the possible sale of its cement business, along with other non-core assets, for US$606m in October 2022.

Jaypee Power Ventures operates 4Mt/yr-worth of cement capacity, 40% of Jaypee Group's total 10Mt/yr.

Published in Global Cement News
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Grasim Industries to raise US$121m

03 November 2022

India: Grasim Industries has secured its board's finance committee's clearance to raise up to US$121m through issue of non-convertible debentures. The Aditya Birla subsidiary plans to carry out the issue on a private placement basis, in one or more tranches.

Published in Global Cement News
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San Miguel Equity Investments acquires 89% Eagle Cement stake

07 October 2022

Philippines: The board of directors of Eagle Cement has acknowledged the acquisition of 89% of the producer's issued shares by San Miguel Equity Investments (SMEI). SMEI has conducted a mandatory tender offer for the remainder of Eagle Cement's shares. The board adopted three resolutions, namely to extend its cooperation to SMEI, to voluntarily delist its shares on the Philippine Stock Exchange (subject to SMEI's acquisition of more than 90% of shares) and to hold a special meeting of its shareholders.

Published in Global Cement News
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Premji Invest to acquire 10% Sagar Cements stake

28 March 2022

India: Sagar Cements has received board approval for the preferential allotment of a 10% stake of equity shares to Premji Invest. ET Now News has reported the value of the deal as US$46m.

Joint Managing Director Sreekanth Reddy Sammidi said “We are delighted to partner with Premji Invest and look forward to their inputs towards strengthening our processes and systems and enhancing value for all our stakeholders.”

Published in Global Cement News
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Ras Al Khaimah Cement seeks stake in Apex Holding

07 January 2022

Bangladesh: UAE-based Ras Al Khaimah Cement is considering the acquisition of Chimera Investments’ and IHC Holding Company’s stakes in manufacturing and export holding company Apex Holding. Reuters news has reported that the board of Ras Al Khaimah Cement has yet to approve any agreement.

Published in Global Cement News
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Wärtsilä to host Capital Markets Day event on 18 November 2021

08 October 2021

Finland: Wärtsilä has announced that its upcoming Capital Markets Day event will take place at 1pm – 4.30pm, Eastern European Time (EET), on 18 November 2021. The supplier says that attendees will be able to follow proceedings via a webcast. President and CEO Håkan Agnevall together will host the event, during which members of the board of management will provide information on the company's business operations, strategy, and financial development.

Registration is open until 11 November 2021 and may be accessed here.

Published in Global Cement News
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Akif Geçer appointed as head of Batıçim

25 August 2021

Turkey: Batıçim has appointed Akif Geçer as its general manager and as a member of its executive board. Arif Alp Dündar has also been appointed as chief financial officer and as a member of the executive board.

Geçer was the general manager of construction company Türkerler Holding from 2011 to 2015. Prior to this he held management positions at Çimko Cemento and Şanlıurfa Çimento and production roles at OYAK and Denizli Cement dating back to the early 1990s. He is a graduate in chemical engineering from the Middle East Technical University in Ankara.

Published in People
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Saudi Cement appoints Mansour Balghonaim to board

25 August 2021

Saudi Arabia: Mansour Balghonaim has taken a seat on the board of Saudi Cement, effective retroactively from 30 June 2021. Blaghonaim has 16 years’ experience in banking and is head of business development wholesale banking at Gulf International Bank. He acquired his degree in finance from King Saud University, Riyadh.

Published in People
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