Cement News tagged under: acquisition
The India Cements acquires Springway Mining Pvt Ltd29 June 2022, Published under Cement NewsThe India Cements Ltd has completed its acquisition of Springway Mining Pvt Ltd (SMPL). With effect from 27 June 2022, SMPL has become a wholly-owned subsdiary of The India Cements Ltd. SMPL is in the process of setting up a cement plant in Madhya Pradesh. |
Lafarge Zimbabwe sells majority stake in its operations08 June 2022, Published under Cement NewsLafarge Zimbabwe is selling 76.45 per cent of its business to Fossil Mines Pvt Ltd. The Holcim group member announced on Monday that it was selling the majority stake in its business. This is a further sale for Holcim following recent divestments decisions taken in India for ACC Ltd and Ambuja Cements. The Manresa cement plant has a cement capacity of 0.45Mta and employees 800 people directly. There is currently a 0.5Mta expansion project being constructed at the plant. |
Gilinski launches offer for sizeable Grupo Argos stake25 May 2022, Published under Cement NewsIn Colombia business tycoon Jaime Gilinski has launched a public acquisition offer for a sizeable stake in Grupo Argos. Mr Gilinski is seeking a stake of 26-32.5 per cent of Argos, which is the third company on the business magnate’s radar. He is willing to pay around 18 per cent more on the Argos share price, reported Notices Financieras. “The purchase price for each share will be US$4.08,” the regulator told the stock exchange in a statement late on 19 May. According to Reuters, the offe... |
Holcim adds ready-mix company to its US portfolio25 May 2022, Published under Cement NewsHolcim has acquired Cajun Ready Mix Concrete, the largest in its sector in the Baton Rouge metropolitan area, Louisiana, USA. The transaction will integrate Cajun's expertise along with its eight ready-mix concrete plants, 108 employees and 51 mixer trucks. Region Head North America, Toufic Tabbara, said: “This acquisition expands our footprint in the dynamic Baton Rouge market, confirming our focus on growth in North America. Cajun’s commitment to innovation, service and quality, along... |
HeidelbergCement buys 50% share in CBI20 May 2022, Published under Cement NewsHeidelbergCement has signed an agreement to acquire 50 per cent of shares of and invest into Continental Blue Investment SA (CBI) who controls the Ghanaian cement producer CBI Ghana . With this step, the HeidelbergCement will take part in the construction of the world’s largest flash calciner. In addition, HeidelbergCement will strengthen its presence in Ghana through CBI’s cement grinding operations. The joint venture partners are committed to exploring additional calcined cl... |
Adani Group acquires Holcim India16 May 2022, Published under Cement NewsAdani Group has agreed to purchase Holcim India for CHF6.4bn (US$6.37bn). The deal includes Holcim’s 63.11 per cent stake in Ambuja Cement, which owns a 50.05 per cent interest in ACC, as well as its 4.48 per cent direct stake in ACC. The combined footprint of Ambuja Cement and ACC includes 31 cement production sites with a total cement production capacity of 66Mta and 78 ready-mixed concrete plants across India. The transaction is expected to complete in the second half of 2022. “Wit... |
Holcim to acquire Izolbet of Poland16 May 2022, Published under Cement NewsHolcim has entered an agreement to acquire Izolbet, one of the leading players in the specialty building solutions market in Poland. Izolbet has delivered double-digit growth in sales and EBITDA over the last three years. The acquisition will strengthen Holcim’s footprint in the highly attractive market for renovation, thermal insulation and finishing, and will complement Holcim’s recent investment in a new production facility for dry mixes in Kraków. Miljan Gutovic, EMEA regi... |
JSW Group to submit bid for Holcim India11 May 2022, Published under Cement NewsJSW Group has revealed plans to submit a US$7bn bid for a controlling stake in Holcim’s India assets. Holcim currently holds a 63.1 per cent share in Ambuja Cements and a 4.48 per cent share in ACC , with Ambuja controlling a 50.05 per cent stake in ACC. Speaking to Financial Times, Sajjan Jindal, chairman and managing director of JSW Group, said that the company would fund US$4.5bn of the bid while private equity players would provide the remaining US$2.5bn. JSW Group currently ... |
Holcim buys six quarries from FAMY Group03 May 2022, Published under Cement NewsHolcim has acquired six quarries from the FAMY Group, a major player in the aggregates sector in eastern France. The quarries currently serve the metropolitan areas of Dijon, Lyon and Geneva (Switzerland), accelerating Holcim’s expansion into the growing Rhône-Alpes region. Miljan Gutovic, regional head for Europe, the Middle East and Africa at Holcim, said, “This acquisition expands our footprint in the highly attractive Rhône-Alpes region, confirming our ambition to revitalise key u... |
Flender completes Moventas acquisition26 April 2022, Published under Cement NewsDrivetrain specialist Flender, has successfully closed the transaction to acquire Finnish wind turbine gearbox manufacturer Moventas, after receiving approval by the authorities. Moventas is now solely owned by Flender. The acquisition marks the next step in Flender’s growth strategy after progressing into independence last year. “We are very happy to announce the closing of this strategic acquisition. Moventas’ expertise and product portfolio is a perfect fit into our strategy of being th... |