Cement News tagged under: Acquisition

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Grinding plant and quay berths acquired by CK Infrastructure Holdings

25 April 2018, Published under Cement News

Cheung Kong Infrastructure Holdings has acquired a cement grinding station and three quay berths in Yun Fu city in Guangdong province, China, at CNY180m (US$28.5m). The agreement was made for the purchase with Chuang Dong Chemical Ltd. The facility covers an area of 68,000m 2 and it has cement grinding capacity of 1Mta. The three berths handle an average 3Mta, CKI said. CKI;s subsidiary Green Island Cement (Yunfu) will own the new assets and clinker produced by Green Island Cement in Hong ...

ArcelorMittal increases Ecocem stake

24 April 2018, Published under Cement News

Steelmaker ArcelorMittal has increased its shareholding in Ecocem France. By the end of May, ArcelorMittal will hold a 49 per cent stake in the cement company, compared to 30 per cent to date. The joint venture Ecocem France was created in 2007 by ArcelorMittal and the Irish group Ecocem Materials to develop the production of granulated blast furnace slag (GGBS), a by-product of steel manufacture by ArcelorMittal in France. Ecocem France currently operates a 0.7Mta ground slag productio...

Buzzi Unicem

04 April 2018, Published under Cement News

Buzzi Unicem’s subsidiary Dyckerhoff has agreed to acquire Portland Zement Seibel und Söhne GmbH & Co KG from the family shareholders for an estimated EUR35m. The company has a 0.7Mta cement works at Erwitte in Westphalia. The deal is subject to Cartel Office clearance, but given the fragmented state of the Westphalian cement market, this is not expected to pose a problem. Seibel primarily sells bagged cement to builders’ merchants.

Cementir Holding completes acquisition of Lehigh White Cement Co stake

04 April 2018, Published under Cement News

Cementir Holding completes today the acquisition of an additional 38.75 per cent stake in Lehigh White Cement Co. The acquisition of the stake from HeidelbergCement-owned Lehigh Cement Co LLC was announced on 14 February 2018 and purchased at a price of US$106.6m, on a cash and debt-free basis. Following the transaction, Cementir will hold 63.25 per cent of shares in Lehigh White Cement Co, with the balance of shares owned by Cemex Inc. The purchase allows Cementir to directly manage ...

UltraTech Cement

26 March 2018, Published under Cement News

The tug of war between UltraTech and Dalmia Cement over who gets to buy Binani Cement has intensified even further this month. At the end of February, Dalmia claimed to have won the battle with its bid of INR67bn (US$1.03bn), followed earlier this month with the reported approval of the bid by the committee of creditors. But UltraTech upped the stakes even further last week with a new bid of INR72.66bn in return for a 98.43 per cent stake in Binani. UltraTech even agreed to supply a ‘comf...

Al Karama Holdings names six prequalifiers for Carthage Cement

21 March 2018, Published under Cement News

Six foreign groups have submitted bids for the acquisition of a 50.52 per cent interest in Tunisian cement producer Carthage Cement, according to Al Karama Holding, the company responsible for managing companies confiscated by the Tunisian state from the former regime of Zine El Abidine Ben Ali. Companies interested in purchasing the stake are Cementos Portland Valderrivas (Spain), Cemolins Internationacional SL (Spain), Omnium des Industries et de la Promotion (Morocco), Eurocem (Malta) ...

Dyckerhoff to acquire Portland Zement Seibel und Söhne GmbH & Co

13 March 2018, Published under Cement News

Dyckerhoff, owned by Italian company Buzzi-Unicem, has announced the acquisition of independent German cement producer Portland Zement Seibel und Söhne GmbH & Co, more commonly known as “der böse Seibel” (Seibel the bad), reports CM-CIC Market Solutions.

The acquisition is subject to the prior approval of the Bundeskartellamt. Commenting on the potential acquisition, CM-CIC Market Solutions said: "This deal is a powerful symbol. Porland Zement Seibel und Söhne, for which revenues are est...

Ramco Industries to sell Kharagpur grinding unit

07 March 2018, Published under Cement News

Ramco Industries Ltd has agreed with The Ramco Cements Ltd, a related party, for the sale of its clinker grinding unit in Kharagpur, West Bengal. 

The revenue contribution of the said unit was INR30,470m (US¢469m) - four per cent of Ramco Industries Ltd's revenue. The buyer will provide cash consideration of INR170m (US$36.1m) as part of the deal.

UltraTech and Dalmia Bharat highest bidders in Binani Cement deal

19 February 2018, Published under Cement News

UltraTech Cement and Dalmia Bharat-Bain Piramal Resurgence Fund consortium are leading the bids for Binani Cement, according to Indiainfoline. Both partieshave submitted bids of approximately INR60,000m (US$927.9m). For the final decision to be made by the creditors, both the bidders are asked to furnish additional details pertaining to their bids. In addition, UltraTech is required to provide information on a Competition Commission of India (CCI) penalty. In 2016, CCI imposed a penalty of ...

Dewan Cement strikes deal with Mega Conglomerate

08 February 2018, Published under Cement News

Mega Conglomerate Pvt Ltd has agreed to acquire a 87.5 per cent stake in Pakistan’s Dewan Cement, according to a bourse filing by BMA Capital Management Ltd. The acquisition will see 75 per cent shares pass hands through agreement and a further 12.5 per cent through a public offering. The deal follows a week of roller coaster movements, according to Pakistan Today. The amount of the acquisition was not disclosed.