Cement News tagged under: Acquisition

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UltraTech Cement

02 March 2016, Published under Cement News

Grasim Industries is reportedly planning to spend IDR40bn (US$584.3m) on capacity expansions over the coming financial year, with IDR38bn of this earmarked for its subsidiary UltraTech Cement. Over the past year UltraTech has worked hard to reduce its operational costs, bringing them down by over two per cent through its use of multiple fuels. The cement producer has also benefitted from the fall in petcoke prices which have declined from around US$74/t in August last year to US$38/t. In the...

Addoha reportedly to sell 30% African stake to HeidelbergCement

26 January 2016, Published under Cement News

It has been reported that the Moroccan Addoha Group will sell 30 per cent of its African assets to HeidelbergCement, according to local news sources. The value of the transaction is estimated at around MAD2bn (US$202m). When contacted, HeidelbergCement declined to comment. Following the construction of two cement plants in its home market of Morocco (Ben Ahmed and Beni Mellal), the Addoha Group has rapidly expanded its activities in Africa, launching subsidiary Ciments de L'Afrique (CIMAF...

CRH confirms total disposal proceeds of EUR1bn for 2015

08 January 2016, Published under Cement News

CRH plc confirmed today total disposal proceeds of approximately EUR1bn in 2015. This comprises the previously announced sale of its clay and concrete products operations in the UK and the Group’s clay business in the US (EUR0.43bn) plus several additional divestments across Europe and the Americas for total proceeds of around EUR0.53bn. During 2015 the group also completed 20 bolt-on acquisition and investment transactions. These deals, together with the acquisition of assets from Lafarge...

Buzzi Unicem

05 January 2016, Published under Cement News

The Italian anti-trust authority has cleared the proposed acquisition by Buzzi Unicem of the cement and aggregates operations of SACCI SpA. However, this deal now looks unlikely to go through as a higher offer for these operations was made by Cementir at the end of December.  Cementir is a global reader in white cement and produces grey cement in Denmark, Italy and Turkey.  

Ssangyong Cement creditors reject Taiheiyo offer

18 December 2015, Published under Cement News

The administration responsible for selling South Korea's Ssangyong Cement is likely to reject an offer made by Japan’s Taiheiyo Cement Corp, Ssangyong’s second-largest shareholder, to acquire all its shares. It was based on the judgment that the Japanese cement maker's offer was intended to obstruct the sale.  "The offer by Taiheiyo to take over all the Ssangyong Cement stake is equivalent to saying Ssangyong must accept its claims of preemption right currently in dispute in the court," c...

LafargeHolcim

02 December 2015, Published under Cement News

LafargeHolcim is making an offer to acquire the shares in the Greek Heracles Cement SA. The offer runs until 11 December and, if successful, the Heracles Cement shares would be de-listed from the Athens stock exchange. Lafarge Malaysia Bhd has bought Holcim Malaysia from Holcim Indonesia for EUR69.8m. With the addition of Holcim Malaysia, Lafarge Malaysia now has a cement capacity of 14.14Mta and operates three integrated cement works, two grinding centres, six aggregates quarries and in ...

Algeria: Beni Saf acquires three quarries

23 November 2015, Published under Cement News

Société des Cements de Beni Saf has acquired three quarries to supply its second production line. The Dhayet Smaâ quarry has an estimated limestone reserve of 78.66Mt. In addition, the clay deposits of Koudiet El Tine (24.3Mt) and El Ancer will also supply the 2Mta cement line. The cement producer has acquired the quarries, which cover an area of 370ha, for a record DZD1.005bn (US$9.3m). Exploration work will be carried by CETIM, the Centre for Study and Technology Service of the Constr...

LafargeHolcim

02 November 2015, Published under Cement News

Lafarge Africa has now completed the acquisition of the outstanding 30 per cent of United Cement Company of Nigeria from Flour Mills of Nigeria to make it a wholly-owned subsidiary. United Cement is currently in the process of building a 2.5Mta production line, which will double its annual capacity to 5Mta. Lafarge Africa’s turnover improved by 5.5 per cent to NGN168,400m (EUR758m) in the first nine months of the year while the pretax profit declined by 11.6 per cent to NGN33,670m (EUR151.6m...

HeidelbergCement

02 November 2015, Published under Cement News

HeidelbergCement’s Polish subsidiary Gorazdze Cement is proposing to acquire Duda Kruszywa, an aggregates producer, and Duda Beton, ready-mixed concrete, from Opole-based JD. For the deal to be approved, the Polish competition authorities demands that Gorazdze Cement disposed of a batching plant in Olszowa.

Heidelberg's European bet

22 October 2015, Published under Cement News

Following the completion of the LafargeHolcim merger in mid-July, less than a fortnight later, HeidelbergCement announced its intention to buy Italcementi. The acquisition would consolidate HeidelbergCement’s no 2 position in the cement industry and regain its market leadership in the aggregates sector. ICR examines the drivers behind this latest M&A activity in the cement industry. With the Italcementi acquisition, HeidelbergCement takes a punt at the forecast Mediterranean recovery ...