Cement News tagged under: Mergers and Acquisitions
Adelaide Brighton announces results for 201705 March 2018, Published under Cement NewsAdelaide Brighton has announced its results for the full-year period, ended 31 December 2017. The company saw a 2.3 per cent YoY fall in net profit to AUD182m (US$141m), but revenue increased 11.7 per cent to finish at AUD1.56bn. The company received AUD17.7m of impairments, significantly higher than the anticipated AUD14m. As a result, the manufacturer has hired forensic accountants to examine whether an employee may have deliberately hidden customer underpayments for supplies over a sus... |
Lafarge Surma Cement changes name01 March 2018, Published under Cement NewsLafarge Surma Cement Ltd has changed its name to LafargeHolcim Bangladesh Ltd, effective from Thursday. According to a notification to the Dhaka Stock Exchange, "other things of the company (except name and trading code) will remain unchanged." The trading code has changed from ‘LAFSURCEML’ to ‘LHBL’ on the main bourse. Lafarge Surma Cement approved the acquisition of Holcim Cement (Bangladesh) on 23 December 2017, at a price of BDT5.04bn (US$60.56m). The company’s plant is located in Chha... |
FLSmidth acquires Sandvik Mining Sytems01 March 2018, Published under Cement NewsFLSmidth has announced that its acquisition of Sandvik Mining Systems has been finalised. The deal will see the integration of continuous surface mining and minerals handling technologies into the company's core minerals sector, thereby allowing it to cover a wider range of the mining value chain. "With the completion of the South African assets we have added references, local expertise and improved ability to deliver complete solutions to our Sub-Saharan customers. We welcome our new c... |
Dalmia Bharat wins bid for Binani28 February 2018, Published under Cement NewsDalmia Bharat Cement Ltd won the bid for Binani Cement on Tuesday, despite UltraTech Cement submitting an almost identical offer. The panel supervising the insolvency proceedings of Binani approved Dalmia’s resolution plan, which was backed by the Bain Piramal Resurgence Fund. Dalmia is expected to invest INR67bn (US$1.03bn) in Binani over a period of time. It has been alleged that UltraTech missed the opportunity due to concerns raised about penalties issued by the Competition Commissi... |
ACC and Ambuja place merger on hold27 February 2018, Published under Cement NewsACC Ltd and Ambuja Cements Ltd have placed their proposed merger on hold due to constraints related to the transfer of mines under current laws, reports the Hindustan Times. "The current regime on transfer of mineral concessions is still evolving and does not provide for a merger currently," said a spokesperson for ACC. "Given the challenges of achieving such transfers across 18-20 states, it was found prudent not to pursue the same at this point of time." The merger has been under re... |
LafargeHolcim acquires Kendall Group26 February 2018, Published under Cement NewsLafargeHolcim has acquired UK-based aggregates and ready-mix concrete manufacturer Kendall Group to expand its operations in the south of England. Kendall will be managed by Aggregate Industries and complement the company’s existing operations in the UK, according to LafargeHolcim. Kendall generated a net revenue of CHF33m (US$35.2m) in 2017 and marks the first deal of the year for LafargeHolcim. |
HeidelbergCement to sell to stake in Lehigh White Cement Co15 February 2018, Published under Cement NewsHeidelbergCement announces that its subsidiary Lehigh Cement Company LLC has signed an agreement to sell its 51 per cent position in Lehigh White Cement Company to the minority shareholders Aalborg Cement Company Inc and Cemex Inc. The enterprise value of the transaction amounts to about US$140m. Closing of the transaction is subject to customary conditions and is expected during the first quarter 2018. “As a niche product with small volumes, the standalone production of white cement does... |
Dewan Cement to sell controlling shares of two plants01 February 2018, Published under Cement NewsDewan Cement Ltd is reportedly in talks with Karachi-based Mega Conglomerate Ltd to sell its controlling shares in two plants based in Dhabeji, Sindh and Hattar Industrial Estate, Khyber Pakhtunkhwa. The two facilities have a combined capacity of 2.89Mta. BMA Capital has been appointed as the manager of the deal, overseeing the acquisition of 87.5 per cent of total shares from Dewan Cement. While 75 per cent of the controlling shares will be from major shareholders, the remainder will b... |
Dalmia Bharat ready to acquire Kalyanpur Cement30 January 2018, Published under Cement NewsDalmia Bharat is set to acquire bankrupt Kalyanpur Cement after lenders have approved a debt resolution plan, reports the Economic Times. Dalmia outbid other companies like JSW Cement, JK Lakshmi and Star Cement, in a resolution which may exceed INR3.5bn (US$54.92m). Although the National Company Law Tribunal (NCLT) have not yet approved the acquisition, a decision is expected within the coming days. "The debt resolution assumes significance as the company is based out of Bihar, where the... |
Restructuring to re-energise South Korean market26 January 2018, Published under Cement NewsSouth Korea's cement market took a further step towards consolidation this week when Asia Cement acquired Halla Cement for US$723m. This added 7.6Mta to Asia Cement's capacity and made it the third largest cement producer in the country. Asia Cement fought off bids from three other interested companies to secure the former Lafarge business and initially six investors had expressed an interest to buy Halla Cement. "Upon acquiring Halla Cement, Asia's share in the local market would ... |