Cement News tagged under: Acquisition
PPC28 August 2019, Published under Cement NewsSouth Africa’s PPC has failed to submit a bid for the Rwandan government’s 46 per cent stake in cement producer Cimerwa, forcing the government to seek an alternative investor. PPC had indicated it would be making a bid and was given until 5 July 2019 to do so. Cimerwa has been persistently underperforming for a number of years now, manufacturing just 364,864t of cement in 2018, despite its production capacity of 0.6Mta. Meanwhile, cement demand in Rwanda has grown steadily on the back of... |
National Cement's acquisition of ARM blocked22 July 2019, Published under Cement NewsThe acquisition of ARM Cement for US$50m by National Cement has hit a legal block. ARM's former CEO and leading shareholder, Pradeep Paunrana, has challenged the sale in the High Court, saying that ARM Cement has been undervalued and that his consortium had offered a bid of US$65m for ARM Cement. The administrator of the sale, PricewaterhouseCoopers (PwC), claims that the US$65m bid was turned down becasue it was not accompanied by proof of funds among other reasons. Instead, PwC approved t... |
Government extends deadline for Cimerwa stake18 July 2019, Published under Cement NewsThe Government of Rwanda has moved the deadline to sell its stake in Cimerwa from 5 to 19 July, with the extension providing a chance for more individual investors and companies to submit a proposal, according to the Rwanda Development Board. The government and its affiliates hold a 49 per cent stake in the company, while South Africa’s PPC is the majority shareholder at 51 per cent. The Rwandan government had initially given PPC an opportunity to buy the remaining shares . According to... |
LafargeHolcim acquires Romanian precast concrete company15 July 2019, Published under Cement NewsLafargeHolcim has signed an agreement with ORESA to acquire Somaco, a Romanian precast concrete producer. Somaco has leading positions and operates five precast concrete plants and one plant for aerated blocks in Romania. Jan Jenisch, CEO of LafargeHolcim: "This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions and Products business segment as part of Strategy 2022 – 'Building for Growth'. The acquisition enables LafargeHolci... |
NCLT approves Dalmia's acquisition of Murli Industries with conditions11 July 2019, Published under Cement NewsIndia’s Dalmia Cement (Bharat) has received approval from National Company Law Tribunal (NCLT) Mumbai regarding its offer to save Murli Industries from liquidation. However, the assembly has outlined certain conditions for the deal. The liquidation value of Murli’s assets is INR2.31bn (US$33.6m) while Dalmia has offered INR4.02bn for the acquisition of its 3Mta cement manufacturing business in Maharashtra. The offer will see banks receive INR3.8bn out of the INR27.83bn due, according to Th... |
Indocement prepared to make plant acquisition in 201910 July 2019, Published under Cement NewsIndocement Tunggal Prakarsa has noted that it is ready to make a cement plant acquisition this year if the opportunity arises. "Indocement is in a position that is ready to make an acquisition if there is indeed a cement manufacturer with a strategic location that will be sold," said Antonius Marcos, director and corporate secretary. Mr Marcos explained that by acquiring a strategic cement plant, it could create a positive synergy and will continue to consider all opportunities availa... |
Pioneer Cement backtracks on Galadari Cement acquisition14 June 2019, Published under Cement NewsPioneer Cement Ltd (PCL) has withdrawn its interest to buy a local cement production facility that is under construction. Abid Wahab, company secretary of PCL in a written communication to Pakistan Stock Exchange (PSX) communicated that the Memorandum of Understanding (MoU) that signed with Galadari Cement (Gulf) Ltd (GCGL) in Oct 2017 to acquire later has been terminated. No reason was disclosed for this change of heart after more than one-and-half years since signing agreement to acquire... |
IMP Automation Group boosts FLSmidth mining portfolio04 June 2019, Published under Cement NewsFollowing the approval of the competition authorities, IMP Automation Group has now officially become a part of FLSmidth. With the acquisition, first announced in February, FLSmidth completes its portfolio of automated laboratory solutions for the mining industry. "With the closing of the deal, we can now start the next phase in our product evolution. The benefits of the joint portfolio are immediately available to our customers, and our pipeline is strong. We are confident that our produc... |
Vicat announces stake in 2170 to develop low-carbon cements28 May 2019, Published under Cement NewsVicat has approached 2170, a subsidiary of Burgundy-based JPS Granulats, to accelerate the development of low-carbon cements. The French cement producers has announced it would buy a stake in the capital of 2170, which prides itself on being the first French producer to receive the NF Hydraulic Binder certification in February 2018 for the production of blended cements. "Vicat has always favoured short circuits throughout the territories. The synergies deployed between our two companies wi... |
YTL executives appointed to Lafarge Malaysia board while CEO resigns20 May 2019, Published under Cement NewsYeoh Khoon Cheng has resigned as CEO of Lafarge Malaysia although he will stay on as the group’s executive director. In addition, Lafarge Malaysia Vice Chairman, Martin Kriegner, and non-independent and non-executive directors John William Stull and Datuk Tan Pei Ling have also resigned. In a separate move, several YTL Corp Bhd executives have been appointed to the company’s board. YTL Corp Executive Chairman, Tan Sri Dr Francis Yeoh, and Managing Director, Datuk Yeoh Seok Kian, have bee... |