Cement News tagged under: CRH
CRH exits PPC talks but LafargeHolcim discussions continue07 December 2017, Published under Cement NewsIrish cement producer CRH has decided to pull out of the process to bid for rival PPC, the South African company said on Thursday. Last month, CRH made an undisclosed cash bid for PPC and had been given time for due diligence and to submit an updated bid, but CRH has now opted to drop its interest in PPC. "CRH has decided not to submit an updated expression of interest and therefore considers it appropriate to withdraw from the Independent Board’s process," PPC said in a statement. In... |
CTP wins Karsdorf SCR technology order06 December 2017, Published under Cement NewsCTP Chemisch Thermische Prozesstechnik GmbH, based in Graz, Austria, has signed a contract with Opterra, a CRH company, for the supply of two new LD-SCR (low-dust, selective-catalytic-reduction) systems at the Karsdorf plant, Germany. The systems are the first of their kind and combine the advantages of a regenerative system with proven SCR technology to adhere to the stringent requirements of the 17th BimSchV regulation for NO x and NH 3 . The scope includes design, supply and insta... |
PPC board rejects Fairfax offer24 November 2017, Published under Cement NewsThe board of PPC has advised its shareholders not to accept the offer of Fairfax Africa Investment Pty Ltd to buy a stake in the South African cement producer. The company will continue talks with LafargeHolcim and CRH on the sale. The Takeover Regulation Panel has extended the deadline for the Fairfax offer to 12 December 2017, according to the cement producer’s board. Fairfax has signalled its intention to make an offer to acquire ordinary shares representing ZAR2bn (US$144.1m) of PPC’s... |
Irish Cement plans to reduce carbon emissions22 November 2017, Published under Cement NewsIrish Cement has stated that its plans to increase alternative fuels usage is not a move to develop a waste incinerator, according to The Irish Times. The company has been using 120,000t of residual waste at its Platin cement works and has requested permission to increase the volume to 600,000t. The new plans submitted to Bord Pleanála for approval would allow the company to replace up to 85 per cent of its fossil fuels with alternative fuels. The project would help reduce Ireland’s carbo... |
CRH sees a 3% revenue increase in 3Q1721 November 2017, Published under Cement NewsCRH has reported a three per cent increase in revenue for the third quarter of 2017. The group's EBITDA has also risen two per cent YoY for the 3Q. The company’s trading performance has particularly benefitted from underlying growth in the Americas throughout the period. Elsewhere, the 3Q results from Europe have remained positively consistent with the rest of the year while performance in Asia has deteriorated. CRH has announced for the nine months of 2017 ended September, a two per cent... |
Karsdorf Cement plant sale to be abandoned20 November 2017, Published under Cement NewsSchwenk KG has abandoned its plans to acquire Opterra’s cement plant in Karsdorf, according to a press release by the Bundeskartellamt (Federal Cartel Office - FCO). The withdrawal of the notification also includes the purchase of the cement plant in Sötenich. "The merger was expected to significantly impede effective competition and would have had to be prohibited. With the acquisition of the plant in Karsdorf Schwenk would have gained a dominant position as a cement manufacturer in the ... |
CRH plans cash bid for PPC14 November 2017, Published under Cement NewsIreland’s CRH has registered its interest in submitting a cash bid for South African cement producer PPC as it takes on AfriSam and LafargeHolcim. While PPC did not disclose the amount of the bid, it said it would give the Irish group time for due diligence and to submit an updated bid next week which would include a value per share for the company. "Historically, it would have been unusual for CRH to enter a bidding situation for a listed company, given management's preference for pu... |
PPC01 November 2017, Published under Cement NewsOctober has seen the saga over PPC’s future continue to dominate the headlines. Last month saw AfriSam submit a merger deal, backed by Toronto-based Fairfax Financial Holdings. However, Prudential Investment Managers, which holds a 13-14 per cent stake in PPC, opposed the merger saying that the AfriSam deal undervalued PPC and that PPC’s share price would double in the next 3-4 years as operations across Africa ramp up. Visio Capital Management, which has a seven per cent share in PPC, th... |
Ash Grove Cement gives stockholder approval for CRH merger23 October 2017, Published under Cement NewsAsh Grove Cement Company has announced that its previous agreement for the merger with CRH plc, under which CRH plc will acquire Ash Grov Cement, has been approved by stockholders holding more than a majority of the outstanding voting stock, acting by written consent. Following execution of the CRH merger agreement, stockholders representing approximately 63.4 per cent of the outstanding voting stock delivered written consents approving the transaction, of which, consents representing appr... |
PPC is a new target for CRH13 October 2017, Published under Cement NewsCRH is among companies considering a counterbid for PPC that could trump an offer by Canada’s Fairfax Financial Holdings, according to Bloomberg sources. PPC’s future has been considering a merger with rival AfriSam Group failed and Toronto-based insurer Fairfax made a partial offer for ZAR2bn (US$149.5m) of PPC stock at ZAR5.75/share. PPC has a market value of ZAR11bn (€689m). Fairfax’s offer is conditional on PPC merging with AfriSam, and the South African company has appointed Invest... |