Cement News tagged under: Acquisition
Shree Cement to acquire railway siding operator01 May 2018, Published under Cement NewsThe board of India’s Shree Cement Ltd has approved the acquisition of Raipur Handling and Infrastructure Pvt Ltd, a private railway siding operator, for INR590m (US$8.8m). The acquisition will help the company improve the management of goods transportation on the railway network, according to a stock exchange disclosure. While the deal is subject to the approval from railway authorities, it is expected to be completed within three months of the execution of a definitive agreement, accordi... |
Grinding plant and quay berths acquired by CK Infrastructure Holdings25 April 2018, Published under Cement NewsCheung Kong Infrastructure Holdings has acquired a cement grinding station and three quay berths in Yun Fu city in Guangdong province, China, at CNY180m (US$28.5m). The agreement was made for the purchase with Chuang Dong Chemical Ltd. The facility covers an area of 68,000m 2 and it has cement grinding capacity of 1Mta. The three berths handle an average 3Mta, CKI said. CKI;s subsidiary Green Island Cement (Yunfu) will own the new assets and clinker produced by Green Island Cement in Hong ... |
ArcelorMittal increases Ecocem stake24 April 2018, Published under Cement NewsSteelmaker ArcelorMittal has increased its shareholding in Ecocem France. By the end of May, ArcelorMittal will hold a 49 per cent stake in the cement company, compared to 30 per cent to date. The joint venture Ecocem France was created in 2007 by ArcelorMittal and the Irish group Ecocem Materials to develop the production of granulated blast furnace slag (GGBS), a by-product of steel manufacture by ArcelorMittal in France. Ecocem France currently operates a 0.7Mta ground slag productio... |
Buzzi Unicem04 April 2018, Published under Cement NewsBuzzi Unicem’s subsidiary Dyckerhoff has agreed to acquire Portland Zement Seibel und Söhne GmbH & Co KG from the family shareholders for an estimated EUR35m. The company has a 0.7Mta cement works at Erwitte in Westphalia. The deal is subject to Cartel Office clearance, but given the fragmented state of the Westphalian cement market, this is not expected to pose a problem. Seibel primarily sells bagged cement to builders’ merchants. |
Cementir Holding completes acquisition of Lehigh White Cement Co stake04 April 2018, Published under Cement NewsCementir Holding completes today the acquisition of an additional 38.75 per cent stake in Lehigh White Cement Co. The acquisition of the stake from HeidelbergCement-owned Lehigh Cement Co LLC was announced on 14 February 2018 and purchased at a price of US$106.6m, on a cash and debt-free basis. Following the transaction, Cementir will hold 63.25 per cent of shares in Lehigh White Cement Co, with the balance of shares owned by Cemex Inc. The purchase allows Cementir to directly manage ... |
UltraTech Cement26 March 2018, Published under Cement NewsThe tug of war between UltraTech and Dalmia Cement over who gets to buy Binani Cement has intensified even further this month. At the end of February, Dalmia claimed to have won the battle with its bid of INR67bn (US$1.03bn), followed earlier this month with the reported approval of the bid by the committee of creditors. But UltraTech upped the stakes even further last week with a new bid of INR72.66bn in return for a 98.43 per cent stake in Binani. UltraTech even agreed to supply a ‘comf... |
Al Karama Holdings names six prequalifiers for Carthage Cement21 March 2018, Published under Cement NewsSix foreign groups have submitted bids for the acquisition of a 50.52 per cent interest in Tunisian cement producer Carthage Cement, according to Al Karama Holding, the company responsible for managing companies confiscated by the Tunisian state from the former regime of Zine El Abidine Ben Ali. Companies interested in purchasing the stake are Cementos Portland Valderrivas (Spain), Cemolins Internationacional SL (Spain), Omnium des Industries et de la Promotion (Morocco), Eurocem (Malta) ... |
Dyckerhoff to acquire Portland Zement Seibel und Söhne GmbH & Co13 March 2018, Published under Cement NewsDyckerhoff, owned by Italian company Buzzi-Unicem, has announced the acquisition of independent German cement producer Portland Zement Seibel und Söhne GmbH & Co, more commonly known as “der böse Seibel” (Seibel the bad), reports CM-CIC Market Solutions. The acquisition is subject to the prior approval of the Bundeskartellamt. Commenting on the potential acquisition, CM-CIC Market Solutions said: "This deal is a powerful symbol. Porland Zement Seibel und Söhne, for which revenues are est... |
Ramco Industries to sell Kharagpur grinding unit07 March 2018, Published under Cement NewsRamco Industries Ltd has agreed with The Ramco Cements Ltd, a related party, for the sale of its clinker grinding unit in Kharagpur, West Bengal. The revenue contribution of the said unit was INR30,470m (US¢469m) - four per cent of Ramco Industries Ltd's revenue. The buyer will provide cash consideration of INR170m (US$36.1m) as part of the deal. |
UltraTech and Dalmia Bharat highest bidders in Binani Cement deal19 February 2018, Published under Cement NewsUltraTech Cement and Dalmia Bharat-Bain Piramal Resurgence Fund consortium are leading the bids for Binani Cement, according to Indiainfoline. Both partieshave submitted bids of approximately INR60,000m (US$927.9m). For the final decision to be made by the creditors, both the bidders are asked to furnish additional details pertaining to their bids. In addition, UltraTech is required to provide information on a Competition Commission of India (CCI) penalty. In 2016, CCI imposed a penalty of ... |