Cement News tagged under: Acquisition

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Breedon welcomes CMA announcement on Cemex asset acquisitions

10 September 2020, Published under Cement News

Breedon welcomes today's announcement from the Competition and Markets Authority (CMA) that it has reasonable grounds for believing that the undertakings offered by Breedon in connection with its completed acquisition of certain assets and operations from Cemex, or a modified version of them, might be acceptable. These undertakings will require the divestment of a small number of ready-mixed concrete plants and an asphalt plant in England, as well as two quarries and a cement terminal in S...

CMA raises competition concerns over Breedon and Cemex deal

26 August 2020, Published under Cement News

Breedon’s purchase of certain Cemex assets has raised competition concerns in the supply of building materials in some parts of the UK, the Competition & Markets Authority (CMA) has found. Breedon announced in January 2020 that it had agreed a GBP178m deal to buy approximately 100 Cemex sites, including aggregates quarries, ready-mixed concrete facilities, asphalt plants and a cement terminal, across the UK.   Following its initial Phase 1 investigation, the CMA found that the deal gives ri...

Breedon completes asset acquisition from Cemex

03 August 2020, Published under Cement News

Breedon has completed completion the acquisition of certain assets and operations from Cemex, as announced on 8 January 2020. As previously indicated, the Competition and Markets Authority (CMA) has instructed that these assets should be held separate from Breedon until it has completed its investigation. Accordingly, the assets will be operated as Pinnacle Construction Materials (Pinnacle), a newly-created ring-fenced business led by an independent management team and operating from its o...

Xinjiang Tianshan set to acquire six CNBM subsidiaries

28 July 2020, Published under Cement News

Xinjiang Tianshan Cement Co Ltd is in talks with China National Building Material Co Ltd (CNBM), about the acquisition of six of CNBM's cement-making subsidiaries, according to a filing to the Shenzhen Stock Exchange. To complete the deal, Tianshan suspended trading of its shares on the Shenzhen Stock Exchange Monday for a period of no more than 10 days. CNBM with a cement capacity of more than 500Mta has been the largest indirect shareholder of Xinjiang Tianshan Cement Co since 2018, when...

Hong Leong Asia makes takeover offer for Tasek Corp

13 May 2020, Published under Cement News

Hong Leong Asia, which currently holds an 88.16 per cent stake in Malaysia’s Tasek Corp through two subsidiaries, has reportedly launched an unconditional voluntary takeover offer to acquire the remaining shares for around MYR83.9m (US$19.35m). The company, via its HL Cement and Ridge Star subsidiaries, had sought to take Tasek private last year, according to The Business Times Singapore. Tasek moved from a net loss last year to an MYR4.19m profit in its 1Q20 results reported last wee...

Schwenk Zement acquires 100% shares of Celitement GmbH

14 April 2020, Published under Cement News

Schwenk Zement KG has taken over all shares of the previous fellow shareholders (including the Karlsruhe Institute of Technology) in Celitement GmbH and this has been backdated to 1 January 2020. From having been a Schwenk-affiliated company, Celitement GmbH became a full subsidiary of the well-established building materials group from Ulm.

 Celitement GmbH was founded in February 2009 and by autumn 2011 had a pilot plant erected on the KIT site (North Campus, Eggenstein-Leopoldshafen) t...

Nuvoco on a solid growth path

14 February 2020, Published under Cement News

A week ago, Emami Cement Ltd agreed the takeover by Nuvoco Vistas Corp (Nirma group) for its cement operations in India. The US$770.56m acquisition means that the Nirma group will add to its assets three grinding plants serving Orissa, Bihar and West Bengal, plus an integrated plant in Chhattisgarh, along with mining leases on 300Mt of limestone reserves with an expected lifespan of 60 years. Nirma beat rival bids from UltraTech, LafargeHolcim, and Star Cement for the Emami Cement assets. ...

Refratechnik Group acquires QMAG

17 January 2020, Published under Cement News

The Refratechnik Group has entered into a share purchase agreement to acquire 100 per cent of QMAG Ltd, an Australian magnesia producer. QMAG (Queensland Magnesia) is a fully-integrated producer of high-quality magnesia products with mining and production in the state of Queensland, Australia, servicing global markets with a combined production capacity greater than 300,000Mta of high-grade electro-fused (FM), dead-burned (DBM), and caustic-calcined (CCM) magnesium oxide products. By the ...

Pakistan's Popular Group acquires Dadabhoy Cement

13 December 2019, Published under Cement News

Popular Group of Pakistan has officially announced the purchase of a private-sector cement manufacturing facility in Sindh province of Pakistan.   The announcement says, "It is hereby notified for the information of general public that Dadabhoy Cement Factory has been purchased by Popular Group, and now its name has been changed to Popular Cement Industries (Pvt) Ltd."   Popular Cement Industries will start its cement production soon, the announcement concludes. The company's plant in Dadu ...

Titan buys back IFC minority stake in SE Europe/Egypt units

22 November 2019, Published under Cement News

Greece-based Titan said that its board of directors has approved the acquisition of the minority stakes held by the International Finance Corp in its units in Egypt and four countries of southeastern Europe for EUR81.8m. “This transaction will conclude Titan’s successful cooperation with IFC gradually established since 2008 in Albania, Egypt, Serbia, North Macedonia, and Kosovo,” the group said. The agreement is subject to fulfilment of conditions precedent, Titan said, adding that its p...