Cement News tagged under: Acquisition
Huaxin Cement plans US$160m investment in African expansion17 June 2021, Published under Cement NewsHuaxin Cement plans to spend US$160m to purchase cement factories in Zambia and Malawi to expand its presence in Africa, according to a company statement. Huaxin Hainan Investment wants to buy a 75 per cent stake in Lafarge Zambia from French cement maker Financière Lafarge, which isa major shareholder in Huaxin through its subsidiary Dutch finance firm Holchin, for US$112.5 m, said the Chinese cement company. It will also make compulsory cash offers to public stakeholders to buy up th... |
Vulcan Materials Co to acquire US Concrete08 June 2021, Published under Cement NewsVulcan Materials Co and US Concrete Inc have entered into a definitive merger agreement. Vulcan will acquire all of the issued and outstanding shares of US Concrete common stock for a purchase price of US$74/share in cash, which represents a total equity value of US$1.294bn. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the second half of 2021, subject to US Concrete shareholder approval, regulatory clearance, and oth... |
Lehigh acquisition of Keystone Cement breaks down07 June 2021, Published under Cement NewsThe Federal Trade Commission has announced that Lehigh Cement Co (HeidelbergCement Group) and Keystone Cement Co (Giant Cement group) have decided to abandon their proposed merger. The news comes about two weeks after the FTC said it was challenging Lehigh Cement’s planned acquisition of Keystone Cement. "This is great news for cement customers in eastern Pennsylvania and western New Jersey," Acting Bureau of Competition Director, Maribeth Petrizzi, said in a statement. "The FTC voted 4-0... |
Verder Scientific acquires Mager scientific03 June 2021, Published under Cement NewsScientific equipment supplier and manufacturer Verder Scientific (Verder Group) has acquired Mager Scientific, the distributor of metallographic and hardness testing equipment in the USA. The acquisition is based on a long-standing successful cooperation between the two companies and will greatly improve Verder Scientific’s impact on the US market, claims the Verder Group. Mager Scientific has an excellent reputation for providing customers with the full range of material testing solut... |
Breedon Group plc acquires of Express Minimix02 June 2021, Published under Cement NewsBreedon has acquired Micromix (Northern) Ltd which trades as Express Minimix, a 'mini mix' concrete operator based out of Durham, UK. Micromix (Northern) Ltd operates a fleet of 25 mixer trucks, specialising in delivering small loads of ready-mixed concrete and screeds, up to 4m 3 , to commercial and domestic customers across the north of England and parts of Scotland. Express Minimix complements Breedon's existing minimix businesses, which currently operate throughout the Midlan... |
Lamanka Enterprises acquires Akhangarancement stake28 May 2021, Published under Cement NewsCyprus-based Lamanka Enterprises Ltd has reportedly bought 84.197 per cent of the shares in Akhangarancement JSC in Uzbekistan. The stake was acquired for UZS557.6bn (US$52.7m) according to Uzbekistan Daily. In March 2021, Eurocement Holding AG announced its plan to sell a block of shares in Akhangarancement. The price was set at UZS103,593.05 but the block of shares was sold at a rpice of UZS134,671.68. |
HeidelbergCement sells US West region assets to Martin Marietta24 May 2021, Published under Cement NewsAs part of its portfolio optimisation and margin improvement programme in its North American business, HeidelbergCement has signed an agreement to sell its business activities in the US West region to the US based company Martin Marietta Materials, Inc. The sale price is US$2.3bn in cash. "The sale of our US West region activities is a major step in our portfolio optimization as part of our 'Beyond 2020' strategy," said Dr Dominik von Achten, chairman of the Managing Board of Heidelbe... |
Complaint filed against Lehigh Cement's proposed acquisition of Keystone Cement24 May 2021, Published under Cement NewsThe Federal Trade Commission is seeking to block Lehigh Cement Co LLC’s US$151m acquisition of rival Pennsylvania-based cement producer Keystone Cement Co (Element Group), alleging the deal would harm regional competition in the market. Lehigh (HeidelbergCement group) owns multiple competing factories that sell cement in Keystone markets, including two cement plants located within 40 miles of Keystone’s plant in Bath, Pennsylvania. The Commission filed an administrative complaint and aut... |
LafargeHolcim makes Greek acquisitions05 May 2021, Published under Cement NewsGreece-based Heracles Group (LafargeHolcim) has signed an agreement with HeidelbergCement’s Halyps subsidiary, which will see Heracles acquire its aggregates business and two ready-mix concrete plants in Athens, Greece. The acquisition will strengthen the company’s position to support Athens’ thriving metropolitan area and key infrastructure projects with sustainable building solutions, according to a press release. This is LafargeHolcim’s fifth bolt-on acquisition in 2021. "I am excited ... |
Votorantim Cimentos commences McInnis Cement integration04 May 2021, Published under Cement NewsVotorantim Cimentos, the seventh largest cement producer in the world, and Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, have announced that they have completed the transaction to combine cement operations in North America. After having obtained regulatory approval from authorities in Brazil, Canada and the United States, St Marys Cement Inc (Canada), a wholly-owned subsidiary of Votorantim Cimentos can now commence with the integration process... |