Cement News tagged under: Acquisition
UltraTech acquires 29% stake in RAK White Cement19 April 2022, Published under Cement NewsUltraTech Cement Middle East Investments , part of UltraTech Cement in UAE, has invested US$101m to acquire a 29.39 per cent stake in RAK Cement Co for White Cement and Construction Materials PSC . RAK White Cement reported a turnover of INR4.825bn (US$63.2m) last year, up from INR4.46bn in 2020. The company is registered on the Abu Dhabi and Kuwait stock exchanges. |
Akkermann Cement acquires unfinished Kaluga Cement plant19 April 2022, Published under Cement NewsRussia’s Akkermann Cement , owned by USM Holding , has acquired the Kaluga Cement Plant for RUB8.95bn (US$110m) at an auction, reports Esmerk Russian News. Kaluga Cement was declared bankrupt in 2018. The plant was expected to have a capacity of 3.5Mta when commissioned, but the construction works were never completed. To take the project to a successful completion, it is expected Akkermann Cement will have to spend at least RUB30bn. |
Vicat Cement Egypt's acquisition of Sinai Cement approved14 April 2022, Published under Cement NewsThe Financial Regulatory Authority (FRA) has approved the publication of a disclosure of an acquisition offer by Vicat Cement Egypt for a 42.12 per cent stake in Sinai Cement Co at EGP6.74 (US$0.36) per share, according to a filing to the Egyptian Exchange (EGX). Vicat will buy 56.064m shares in Sinai Cement, increasing its stake in the company to 100 per cent. |
CADE gives initial approval of CSN acquisition of LafargeHolcim's Brazil operations06 April 2022, Published under Cement NewsTechnical staff at Brazil's antitrust watchdog CADE have approved the acquisition of LafargeHolcim 's local business by steelmaker Companhia Siderúrgica Nacional (CSN) with no restrictions. The move represents an initial approval as the deal could still be blocked by CADE's board of directors, which is required to analyse the transaction before giving the final green light, reports Nasdaq. Until then, both companies will remain operating independently, CSN said in a securities ... |
Lehigh Hanson acquires Meriwether Ready Mix05 April 2022, Published under Cement NewsHeidelbergCement has announced that its North American subsidiary Lehigh Hanson Inc has acquired all assets of Meriwether Ready Mix, a leading producer of ready-mixed concrete with a well-established residential and commercial customer base in the Metro Atlanta area. The Metro Atlanta Area is a growing market with significant infrastructure projects planned in the coming years. The acquired assets include four ready-mixed concrete plants and a fleet of mixer trucks. “After th... |
Martin Marietta Materials Inc enters into agreement to sell Redding plant01 March 2022, Published under Cement NewsMartin Marietta Materials Inc announced that it has entered into a definitive agreement to sell certain West Coast cement and ready-mixed concrete operations to CalPortland Company for US$250m in cash. The operations include the Redding cement plant, related cement distribution terminals and 14 ready-mixed concrete plants located in California. Ward Nye, Chairman, President and CEO of Martin Marietta, stated, “Consistent with our Strategic Operating Analysis and Review (SOAR) 2025 plan, w... |
Hanson UK acquires waste removal company18 February 2022, Published under Cement NewsHanson UK ( HeidelbergCement group ) has acquired Manchester-based A1 Services as part of its strategy to conserve the use of natural resources and its commitment to the circular economy. A1 Services specialises in waste removal and recycling of soil, concrete hardcore and general waste from building, construction and civil engineering projects. The acquisition will boost Hanson’s presence in the key Manchester market and broaden its portfolio of recycled products. “A1 Servi... |
Flender to acquire Moventas11 February 2022, Published under Cement NewsFlender has reached an agreement to acquire Finnish wind turbine gearbox manufacturer Moventas from investor N4 partners. The planned acquisition marks the next step in Flender’s growth strategy after progressing into independence last year. Integrating Moventas’ engineering and service capabilities will further foster Flender’s wind drives business under the successful Winergy product brand. The acquisition is still subject to approval by authorities and is expected to close in summer 20... |
Voith Group acquires 100% shares in Elin Motoren GmbH27 January 2022, Published under Cement NewsVoith Group has owned a 70 per cent controlling share in Elin Motoren GmbH since 1 May 2020 and at the end of 2021 acquired the remaining 30 per cent that was held by Franz Hrachowitz, the company's managing director. "For Voith, this is a further step in strengthening our core business and consistently expanding it in the direction of sustainable technologies," says Dr Toralf Haag, CEO of the Voith Group. The full acquisition of Elin Motoren by Voith will have no impact whatsoever... |
Akkermann Cement receives funds to acquire Akhangaracement JSC26 January 2022, Published under Cement NewsGazprombank has allocated funds for the acquisition by Akkermann Cement CA (part of the USM group) for a 98.6 per cent stake in Akhangaracement JSC in Uzbekistan. The transaction was implemented with the attraction of financing from Gazprombank, is not just a creditor but a strategic financial partner of Akkermann Cement LLC. The group of companies under the Akkermann Cement brand is part of the diversified Russian holding USM. In 2021 Akkermann Cement produced about 4Mt of c... |