Cement News tagged under: Acquisition

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China National Building Materials (CNBM)

25 May 2016, Published under Cement News

Following an 82.8 per cent drop in its net profit in 2015, China National Building Materials (CNBM) has reported a further 44.6 per cent contraction in net profit attributable to the owners for the three months ending 31 March 2016. Again the fall is being blamed on the national slowdown in both infrastructure and real estate as the Chinese economy continues to cool. The news comes hot on the heels of the Chinese government announcement to spend CNY4.7trn (US$720bn) on over 300 transport ...

PPC

29 April 2016, Published under Cement News

According to PPC, cement consumption in South Africa reached 13Mt in 2015, up 7.7 per cent on the previous year. The growth is attributed to strong demand from the construction sector, particularly projects involving new power stations and hydroelectric plants. The opening quarter of the year saw the fastest sales growth YoY with 15.6 per cent. The second quarter was far more subdued with 1.5 per cent but was followed by more than seven per cent expansion in the last two quarters of the year...

PT Indocement

29 April 2016, Published under Cement News

According to PT Indocement, its new plant in Citeureup, West Java, is due to be operational in 3Q16. The company has set aside IDR2.3trn (US$173.4m) from its 2016 capex to finish the IDR6.5trn project, with the remaining capex reportedly being used for maintenance activities elsewhere. Meanwhile, the company has acquired a stake in marine transport services firm, Lintas Bahana Abadi through its subsidiaries Bahana Indonor and Indomix Perkasa. The deal, which is worth US$2.1m, is expected ...

CRH interested in HeidelbergCement US and Belgian units

28 April 2016, Published under Cement News

CRH has expressed an interest in acquiring HeidelbergCement’s US and Belgian assets. The Germany-based company is expected to divest in such units to comply with the requirements set by competition authorities for its acquisition of Italcementi. "US cement is of interest to us and we're fully aware of the asset that may spin out of the potential acquisition," Mr Manifold said. "With regards to Belgium, it's a prime asset and certainly it would make a good fit with our businesses, providin...

HeidelbergCement to sell Italcementi's Belgian operations as part of integration plan

06 April 2016, Published under Cement News

HeidelbergCement has laid out its plans for the restructuring of Italcementi's operations following the former's moves to acquire a 45 per cent stake in the Italian firm last July. These include selling off Italcementi’s entire Belgian operations to address competition concerns. In a press release, HeidelbergCement said that the integration process will see the retention of Italcementi’s Italian operations and brand. The company adds that it expects the acquisition to be finalised by July...

Dangote: a paradigm shift

06 April 2016, Published under Cement News

ICR took the opportunity to meet with Dangote Cement’s new CEO, Onne van der Weijde, during the recent Cemtech Middle East & Africa conference in Dubai. The former area manager for Holcim with responsibility for the company’s Indian operations, Mr van der Weijde is now at the helm of Dangote Cement alongside DVG Edwin who remains in charge of new projects. Here he gives an optimistic account of Dangote’s ambitious strategy for Africa, where the company is now targeting a total capacity of 75...

India: UltraTech purchase of 22.4Mta capacity set to be announced

31 March 2016, Published under Cement News

UltraTech Cement, already India's largest cement producer, is expected to confirm its purchase of Jaiprakash Associates' cement business. A report by CNBC-TV18 states that the deal will be officially announced on 31 March. UltraTech will acquire cement plants with a capacity of 22.4Mta for INR170bn (US$2.56bn). UltraTech has been seeking to purchase assets from Jaiprakash Associates for some time. In December 2015 a deal for the Bela and Sidhi plants was suspended because a new law pre...

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...