Raysut Cement plans bid to acquire Star Cement Group
Oman’s Raysut Cement, the sultanate’s largest cement producer by market value, is planning a bid to buy Star Cement Group of Companies, it said in a statement on the country’s bourse website on Sunday.
Star Cement has a clinker production plant in Ras al-Khaimah, cement grinding plants in Abu Dhabi, Ajman, Bahrain, Yemen, Bangladesh, a cement storage and packing terminal in Sudan and a precast factory in Abu Dhabi, the statement said.
No further details about the bid were given.
Star Cement is an associate company of UAE conglomerate ETA Ascon Star, which has interests in construction, shipping, retail, transport and education.
Published under Cement News
