Cement News tagged under: Acquisition

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Cementos Argos

27 September 2016, Published under Cement News

Cementos Argos has agreed to purchase the Essroc cement plant in Martinsburg, West Virginia, USA, from HeidelbergCement. The deal, which is reputedly worth around US$650m, forms part of HeldelbergCement’s divestment plans resulting from its ongoing acquisition of Essroc’s parent company, Italcementi. To help fund the purchase, Cementos Argos has sold a 20 per cent stake in its Panamanian subsidiary to Panama-based real estate investment firm Grupo Provivienda for US$126m. This leaves Cemento...

India: Nirma raises US$598m to finance Lafarge acquisition

16 September 2016, Published under Cement News

Nirma Group, which in July won the race to buy Lafarge India for a reported US$1.4bn, has raised INR40bn (US$598m) from a bond sale to finance the purchase, the Economic Times reports. Nirma has created a special purpose vehicle, Nirchem, which administered the bond sale and will be used in the acquisition process. The sale, the largest of its type, was oversubscribed, with investors attracted by the 8.68 per cent yield, seen a decent price given Nirma’s AA credit rating. 

India: My Home Industries set for 10Mta capcity

01 September 2016, Published under Cement News

With its 1.5Mta Tuticorin plant, Tamil Nadu, expected to be commissioned in January 2017, My Home Industries is set to see its production capacity increase to 10Mta. Speaking of its ambitions in the sector, J Rameswar Rao, chairman of My Home Industries, said, “We want to go in for acquisitions in north, central and western India to further increase the capacities.” My Home Industries became a major player in the sector following its acquisition of Shriram EPC’s 3.2Mta plant in Kurnool...

China: Socam to sell part of its stake in Nanjing Jiangnan Cement

30 August 2016, Published under Cement News

Socam Development is to sell a 35 per cent stake in Nanjing Jiangnan Cement to property developer Country Garden for CNY147.6m (US$22m), Etnet reports. Socam Development will retain a 25 per cent stake in Nanjing Jiangnan, and intends to sell this to Country Garden at a later date. 

Birla completes acquisition of Reliance Cement

23 August 2016, Published under Cement News

Birla Corporation announced that is has completed the acquisition of Reliance Infrastructure subsidiary, Reliance Cement. The deal was valued at about INR48bn (US$715.6m). Reliance Cement becomes a wholly-owned subsidiary of Birla, whose production capacity now reaches 15.4Mta, up from 9.8Mta, as a result of the deal. Reliance Cement operates a 5.08Mta integrated capacity at Maihar (Madhya Pradesh) and Kundanganj (Uttar Pradesh) as well as a 0.5Mta grinding unit at Butiburi (Maharashtra)....

UltraTech Cement

02 August 2016, Published under Cement News

UltraTech has at last agreed terms with Jaypee Group for the acquisition of Jaypee’s cement interests. UltraTech is paying some US$2400m for the acquisition of 17.2Mta of cement capacity across five states as well as a 4Mta grinding plant currently under construction in Uttar Pradesh. The deal still requires the approval of shareholders, creditors hand the High Court and should be completed within 12 months. UltraTech has recently commissioned a new grinding centre at Pataliputra in Bihar...

Siam City Cement acquires Cemex Bangladesh

28 July 2016, Published under Cement News

Siam City Cement, one of Thailand’s largest cement producers, acquired Cemex Cement Bangladesh Ltd on Tuesday. The Cemex operations are now known as Siam City Cement (Bangaldesh) Ltd. A statement released by the company read, “Siam City Cement (Bangladesh) Limited aspires to bring regional experiences from the past and would like to shake hands with the potential prospects of the Bangladeshi Cement market. It believes in cementing relationship with all the relevant stakeholders and would l...

UK CMA gives final clearance in Breedon’s Hope acquisition

27 July 2016, Published under Cement News

UK Competition and Markets Authority (CMA) has cleared Breedon to acquire Hope Construction Materials following its acceptance of Breedon’s undertakings in lieu of a reference to a Phase 2 investigation in respect of its proposed acquisition of Hope. Breedon had proposed undertakings to the CMA to divest 14 readymix sites to an up-front buyer approved by the CMA.   Following the clearance, Breedon now expects the acquisition to complete on 1 August 2016. Commenting on the announcement ...

Lafarge Africa in 2Q16

26 July 2016, Published under Cement News

Lafarge Africa Plc has released its financial results for 2Q16, reporting a total revenue of NGN107bn (US$344.9m). Cost of sales stood at NGN92.2bn (US$297.3m), down from NGN98bn (US$315.9m) in the same period last year and administrative/distribution and other expenses dropped to NGN12.2bn (US$39.3m) from NGN4bn (US$45.1m). The company’s revenue of NGN30.8bn (US$99.3m) fell by NGN28.5bn (US$91.9m) due to foreign exchange loss after the naira’s devaluation. The company also suffered diminish...

Siam City Cement to acquire Holcim Lanka

25 July 2016, Published under Cement News

Siam City Cement (SCC) has signed a deal to buy Sri Lankan cement company Holcim Lanka Ltd for US$400m. The acquisition will turn SCC into the market leader in Sri Lanka. SCC is anticipating that the acquisition of the 98.95 per cent stake in Holcim Lanka will be completed within two weeks of the date of agreement, while LafargeHolcim have said the transaction will be completed in 3Q16. SCC will use credit facilities from Bank of Tokyo-Mitsubishi UFJ to fund the purchase. This latest ...