Cement News tagged under: Acquisition

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Ensuring long-term growth

11 January 2017, Published under Cement News

Grupo Cementos Chihuahua (GCC) is completing a key acquisition programme in the USA as it buys Cemex assets such as the Odessa cement works in Texas. ICR speaks with Ron Henley, president of GCC America. Ron Henley, president of GCC America ICR: GCC is in the process of making some major acquisitions in the USA to expand its cement portfolio. Can you describe what this means in terms of how cement capacity will increase and what the profile of the group’s plants is now like reg...

India: JSW Cement acquiring controlling stake in Shiva Cement

11 January 2017, Published under Cement News

JSW Cement Ltd is to buy the entire promoter holding in cement maker Shiva Cement Ltd and launch an open offer to acquire another 32 per cent from the company's public equity shareholders. Odisha-based Shiva Cement confirmed that it has agreed to sell its 35.6 per cent promoter holding to JSW Cement at INR14/share (US$0.20/share). In a separate BSE filing, JM Financial Institutional Securities Ltd, manager to the offer, said that JSW Cement, together with Sun Investments Pvt Ltd and Re...

Trinidad Cement directors recommend rejection of Cemex bid

04 January 2017, Published under Cement News

The board of directors of Trinidad Cement Ltd (TCL) has written to shareholders advising them to reject Cemex's TTD597m (US$89m) offer for a controlling interest in the company, the Jamaica Observer reports. “The company (TCL) has experienced a turnaround after multiple past efforts to do so. The evidence of the turnaround is supported by the company’s return to sustainable profitability in 2015 and continuing to produce positive net income throughout 2016,” said the directors in their le...

Pakistan: Bestway Cement joins bidding for Dewan Cement assets

03 January 2017, Published under Cement News

Bestway Cement Ltd has informed Pakistan Stock Exchange (PSX) on 30 Dec that it is considering acquiring the northern plant and related assets of Dewan Cement Ltd in Pakistan. Previously, three local cement companies and a Chinese company have expressed their intention to acquire stakes in Dewan Cement. “The final outcome will be dependent upon due diligence and any eventual bidding, if made, for purchase of Dewan’s assets,” said Sehar Hussain, Bestway cement's company secretary. The i...

Pakistan: Kohat Cement interest in Dewan Cement

23 December 2016, Published under Cement News

Kohat Cement Company Ltd has joined the race to acquire Dewan Cement’s North plant, a 1.134Mta facility located at Hattar industrial estate in northern Pakistan. The company has informed the Security & Exchange Commission of Pakistan and Pakistan Stock Exchange on 16 December that its Board of Directors has decided to participate in the bidding process for the purchase of North cement plant and its related assets from Dewan Cement Ltd. As a result, it has authorised the management to condu...

Lafarge Surma Cement acquires Holcim Bangladesh

15 December 2016, Published under Cement News

The Board of Lafarge Surma Cement Ltd has approved the acquisition of 100 per cent shares of Holcim Bangladesh from LafargeHolcim Group. The transaction is subject to approval by the shareholders of Lafarge Surma as well as other regulatory and customary approvals in Bangladesh, according to a company statement. Following the completion of the transaction, the company will own the only clinker production facility in Bangladesh and four grinding plants across the country. "This synergy w...

Pakistan: Fecto Cement joins race for Dewan assets

14 December 2016, Published under Cement News

Fecto Cement has announced that it intends to enter a bid for Dewan Cement’s North plant, a 1.134Mta facility located in Hattar. Earlier this month, Lucky Cement indicated that it would put in a bid for the Hattar plant, while The News reports that a Chinese firm is also in the process of carrying out a due diligence investigation. In a trading update released to the Pakistan Stock Exchange, Fecto Cement said that sales revenues for the first quarter of FY2017 were up by 16.3 per cent to ...

Bahrain: APICorp acquires 30% Falcon Cement stake

13 December 2016, Published under Cement News

Multilateral development bank Arab Petroleum Investments Corp (APICorp) announced it acquired a 30 per cent stake in Bahrain’s Falcon Cement Co (FCC), one of the largest cement producers in Bahrain. FCC has a current capacity of 1000tpd and is well on its way to more than double its production capacity to 2400tpd by 2017. The cement company is expected to capitalise on a series of major industrial and infrastructure projects that are fuelling the kingdom’s construction industry. The US...

Pakistan: Lucky Cement considers buying Hattar plant and investing in Iraq

09 December 2016, Published under Cement News

Lucky Cement has announced that it has begun the due diligence process for the purchase of Dewan Cement’s 1.134Mta Hattar plant and that separately it would look to expand its grinding plant in Basra, Iraq, according to Pakistan’s The News. Lucky’s corporate strategy calls for an expansion of its business into northern Pakistan, for which the Hattar plant – located around 25km from Islamabad – is well suited. The Basra plant, which Lucky holds as a joint-venture with an Iraqi partner, ...

HeidelbergCement completes sale of US assets to Cementos Argos

01 December 2016, Published under Cement News

HeidelbergCement has completed the US$660m sale of the Martinsburg cement plant and eight terminals to Cementos Argos. HeidelbergCement had been required to sell the West Virginia plant to comply with regulators following the acquisition of Italcementi. It is expected that the company will use the proceeds of the sale to pay down some of debt it took on to finance the acquisition process. “With the disposal of the US assets we fulfil the obligation of the FTC and improve the net financ...