Cement News tagged under: Acquisition

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YTL executives appointed to Lafarge Malaysia board while CEO resigns

20 May 2019, Published under Cement News

Yeoh 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 Directo,r Datuk Yeoh Seok Kian,  have be...

Sagar Cements completed Jajpur acquisition

08 May 2019, Published under Cement News

India-based Sagar Cement has completed the acquisition of its 100 per cent stake in Jajpur Cements Private Ltd (JCPL). The company will now start the process of establishing a 1.5Mta greenfield grinding plant in Jajpur, Odisha. In December, Sagar Cements’ board had approved the investment of INR1.08bn (US$15.6m) in JCPL in a phased manner and to set up the INR3.08bn plant in Jajpur. The new unit is expected to be completed by March 2021.

Transaction of major stake in Dandot Cement is completed

30 April 2019, Published under Cement News

Dandot Cement Co Ltd has informed Pakistan Stock Exchange (PSX) that Calicom Industries has acquired 63,542,787 shares of the company. Earlier, the company had reported that it received an intention from Calicom Industries to acquire control and 63,542,787 voting shares (67 per cent of paid-up capital) of the company. The buyer is expected to invest in the modernisation of electrical equipment at its facilities. In the FY18 capacity utilisation at Dandot Cement stood at 44 per cent and...

UltraTech

24 April 2019, Published under Cement News

In the quarter ending 31 March 2019, on a standalone basis, UltraTech Cement saw its domestic net sales increase by 18 per cent YoY to INR103.34bn. The domestic sales volume jumped 16 per cent YoY with the clinker capacity at Manavar, Madhya Pradesh, now operating at 100 per cent utilisation. Profit before interest, depreciation and tax came in at INR23.53bn, compared to INR18.14bn in the same period a year earlier. Variable costs during the quarter advanced by three per cent YoY on the back...

Cemex

02 April 2019, Published under Cement News

Cemex has agreed to sell its operations in Latvia, where it owns the 1.6Mta cement plant at Broceni, as well as import and marketing operations in Sweden, where there are four, Finland (three), Norway (four), Estonia (1) and a 38 per cent stake in Lithuania's sole cement plant, to the privately-owned Schwenk Zement for EUR340m. To help finance the purchase, Schwenk is selling its 69.8 per cent stake in Schwenk Namibia on a Singapore-based investor for some US$73m.       Cemex has also ag...

Rwandan government to divest Cimerwa stake

11 March 2019, Published under Cement News

The state of Rwanda has put up its 49 per cent stake in Cimerwa up for sale, according to an announcement made by the country’s Prime Minister, Edouard Ngirente on 9 March 2019. An auction will be organised at the end of the month. South Africa-based PPC currently holds a majority stake of 51 per cent in the Rwandan cement producer, but has not expressed an interest in acquiring the 49 per cent shareholding for sale. Cimerwa operates a 0.6Mta integrated plant in Rusizi. The government is ...

PT Semen Indonesia

27 February 2019, Published under Cement News

Semen Indonesia plans to expand its operations following its recent acquisition of Holcim Indonesia. The deal, which was carried out through Semen Indonesia’s subsidiary, Semen Indonesia Industri Bangunan (SIIB), makes SIIB the main shareholder with 80.64 per cent ownership. As a result of the move, Holcim Indonesia is to be renamed PT Solusi Bangun Indonesia (SBI). According to Agung Wiharto, corporate secretary at Semen Indonesia, the acquisition, which is worth US$916.3m, is part of a ...

Raysut Cement of Oman to acquire Sohar Cement

25 February 2019, Published under Cement News

Raysut Cement Co SAOG has informed Muscat Securities Market (MSM) that it has signed a letter of intent (LoI) with the shareholders of Sohar Cement Factory LLC of Oman, with respect to the purchase of all its shares. 

 According to Ghose Jotirmoy Pratul Krishina, CEO of Raysut Cement, the parties are currently discussing the terms of the proposed acquisition and company will keep its shareholders informed of any significant future developments as and when they happen. With a 240tph gr...

Ssangyong Cement to look for new owners?

22 February 2019, Published under Cement News

This week the potential for further consolidation in South Korea's cement market was heightened when Asia Today reported that Hahn & Co Cement Holdings could be looking to sell its 77.44 per cent majority share ownership in Ssangyong Cement later this year. The latest development in South Korea's cement sector consolidation comes amid increasingly challenging market conditions. Falling cement demand South Korea's cement demand fell by 11 per cent in 2018, according to analysts Mira...

FLSmidth acquires IMP Automation Group

11 February 2019, Published under Cement News

FLSmidth has acquired IMP Automation to increase its portfolio of automated laboratory solutions. IMP is the global leader in automated laboratory solutions for the mining industry and has a strong foothold in Australia and South Africa. "In FLSmidth we have found a partner with the right global sales network to take us to the next level. For years, we have combined profound laboratory process knowledge with automation skills and developed novel and innovative solutions. I am very excited ...