Cement News tagged under: Acquisition

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Anhui Conch

22 July 2016, Published under Cement News

Anhui Conch has missed out on the chance to acquire Lafarge India, despite its offer of INR95bn (US$1.4bn) coming in higher than the winning bid. A deal was finally struck with Nirma Ltd at INR94bn, but this remains subject to approval by the Competition Commission of India (CCI). The transaction includes three cement plants and two grinding station with a total capacity of 11Mta.  A number of articles have examined why Anhui Conch was unsuccessful with one by Mint dismissing rumours that...

India: UltraTech to complete Jaypee acquisition ‘in next 12 months’

20 July 2016, Published under Cement News

Birla Group chairman, Kumar Mangalam Birla, told his firm's annual general meeting that its UltraTech Cement subsidiary should complete its acquisition of Jaypee Cement within the next 12 months, the Economic Times reports. The deal, which will see UltraTech acquire cement production capacity of 21.2Mta, was agreed earlier this month, despite efforts from Jaypee’s creditors that saw them convert debt into equity. On completion, UltraTech – already India’s largest producer – will contro...

China: Jinyuan Cement to raise CNY1.36bn in private share placement

12 July 2016, Published under Cement News

Jinyuan Cement plans to raise up to CNY1.36bn (US$204m) in private placement of shares to fund a company acquisition, projects and repay bank loans. In June Jinyuan Cement bought a 51 per cent stake in a Jiangsu-based new materials technology firm from the Jinyuan Holding Group for CNY2.55m. Earlier this year Reuters said the company had scrapped a major asset restructuring plan. Jinyuan Cement reported revenues of CNY95.42m in 1Q16, up from CNY92.36m in 1Q15. The company’s net lo...

India: UltraTech concludes Jaypee deal

05 July 2016, Published under Cement News

UltraTech Cement has struck a deal to obtain the cement assets of Jaypee Group with a last-minute increase in acquisition price on Monday. UltraTech will purchase Jaypee Group’s cement operations, that have a total capacity of 17.2Mta spread across Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, for INR161.9bn (US$2.4bn). In addition to existing cement operations, UltraTech will also acquire the 4Mta grinding unit that is currently being constructed in Utt...

Sagar Cements acquires grinding unit from Toshali Cements

30 June 2016, Published under Cement News

Sagar Cements announced the acquisition of a grinding unit owned by M/s Toshali Cements Pvt Ltd for INR600m (USD8.88m). The assets consist of one grinding unit located at Bayyavaram, Vizag district, Andhra Pradesh with a capacity of 181,500tpa. Post acquisition, the company proposes to invest INR60m (US$0.89m) to increase the capacity of unit to 300,000tpa. The acquisition will enable the company to save its logistic cost and to introduce slag cement to cater markets in Visakhapatnam, V...

China National Building Materials (CNBM)

29 June 2016, Published under Cement News

China National Building Materials (CNBM) plans to become a shareholder in Eurocement Group, Russia’s leading producer of construction materials. The deal, which was signed in China on 25 June, is believed to be worth US$5bn. According to local press reports, the input of funds is destined for modernising Eurocement’s existing plants along with the construction of new dry-process production lines. Eurocement currently operates 19 cement plants across Russia, Ukraine and Uzbekistan with a c...

CRH reported to carry out due diligence on HeidelbergCement's US assets

28 June 2016, Published under Cement News

Ireland-based building materials giant CRH is reportedly among bidders for the US assets put up for sale by HeidelbergCement to appease competition authorities over its Italcementi acquisition. CRH and US company Summit Materials are among bidders chosen to carry out due diligence for US$600m of US assets, according to Bloomberg. In April CRH’s CEO Albert Manifold had already indicated that the group was interested in the Germany-based cement producer.

Semen Indonesia to sell 49% stake in unit

13 June 2016, Published under Cement News

Indonesia's largest cement producer, Semen Indonesia, plans to sell a 49 per cent stake in one of its units to help fund the company's future expansion, according to Investor Daily quoting the firm’s Finance Director, Darmawan Junaidi. The strategic investor will hold the stake for a limited period, tentatively 10 years. However, which subsidiary's stake will be sold remains currently undisclosed. Semen Indonesia has four subsidiaries – PT Semen Gresik, PT Semen Padang, PT Semen Tonasa and...

India: Five bidders still in running for Lafarge

01 June 2016, Published under Cement News

The Financial Express reports that Lafarge India has reduced the number of bidders vying to acquire its assets to a shortlist of five: Cemex, Anhui Conch Cement, JSW Cement, Piramal Enterprises and the Nirma Group. Of the five, only JSW Cement has a significant presence in the Indian market, although Piramal and Nirma both operate in other sectors in the country. Lafarge India’s assets amount to a capacity of 11Mta and include mining rights. The six plants included in the sale are loca...

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 ...