Cement News tagged under: Acquisition

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UltraTech Cement acquisition, India

24 July 2012, Published under Cement News

India’s number one cement producer UltraTech Cement announced on Tuesday it has signed an agreement with the shareholders of Gotan Lime Stone Khanij Udyog (GKUPL) to acquire 100% equity shares of GKUPL. With this acquisition, GKUPL has become a wholly owned subsidiary of the company.

Votorantim: June '12

06 July 2012, Published under Cement News

As part of the agreed asset exchange between Votorantim and fellow Brazilian investor Camargo Corrêa, Votorantim will acquire Cimpor's interests in Morocco, Tunisia, Turkey, India and China as well as most of the assets in Spain. In return, Votorantim will cede its shareholding in Cimpor to Camargo Corrêa. Last year, the assets being acquired by Votorantim generated a turnover of EUR775m and an EBITDA of EUR152m and employed 3,670 people. These assets include 22 clinker and cement plants, 7...

Sichuan Shuangma Cement in private placement, China

04 July 2012, Published under Cement News

Sichuan Shuangma Cement Co Ltd, a Shenzhen-listed producer and distributor of cement, said on 2 July 2012 that it plans to issue no more than 121 million shares to 10 designated investors at CNY7.42 a share to raise up to CNY903m. The funds raised from the issuance will be used to acquire a 25 per cent stake in a Dujiangyan, Sichuan-based cement company from Lafarge China Offshore Holding Co Ltd. (Source: China Business Newswire)

Conch acquires stake in Xingjian Qingsong, China

25 June 2012, Published under Cement News

Anhui Conch Cement Co has completed the acquisition of a 19.99 per cent stake in Xinjiang Qingsong Building Materials and Chemicals (Group). The company said in a statement filed with the Shanghai Stock Exchange that, together with an Anhui Province-based subsidiary, it bought 137.8 million shares of Qingsong Building Materials through a private placement. Qingsong Building Materials earlier announced plans to issue up to 262 million shares at CNY13.53 a piece through a private placeme...

Tangshan Jidong Cement acquires majority stake in Wubao Jidong, China

22 June 2012, Published under Cement News

Tangshan Jidong Cement announced it has acquired a 51 per cent stake in Wubao Jidong Special Cement for CNY173m, reports Securities Times, citing a company filing yesterday. At the same time, Shandong Linqu Shengwei Special Cement acquired a 10 per cent interest in Wubao Jidong Special Cement for CNY34.1m. According to Tangshan Jidong Cement, the acquisition will not have a significant impact on its fiscal or operational status and it will enhance its market share in Shaanxi special ce...

Camargo completes Cimpor takeover, Portugal

21 June 2012, Published under Cement News

Brazilian conglomerate Camargo Correa has completed its takeover of Cimpor, now controlling 94.8 per cent of the Portuguese producer, Cimpor said in a statement on the CMVM market regulator's website. The success of the move was largely expected by analysts who will now look at the terms in which the company's assets will be split between Camargo and Votorantim. The deal includes an asset swap with Brazil-based Votorantim, Cimpor's second largest shareholder. Camargo will integrate its Sou...

Huaxin sales increase 30 per cent since Holcim investment, China

11 June 2012, Published under Cement News

Holcim has said that its  Holcim said that its joint venture Hubei Huaxin Cement has seen annual sales growth of 30 per cent since it invested in the company.??Holcim entered the Chinese market in 1995, a report by China Daily states. In 1999, the company made a strategic investment in Huaxin Cement, in Hubei province, and became the company's largest shareholder in 2008. Currently, Holcim holds about 42 per cent of Huaxin's shares. Last year Huaxin Cement benefited from government inv...

Haver & Boecker acquires Newtec Bag Palletizing

31 May 2012, Published under Cement News

Haver & Boecker Holding GmbH has taken full control of Newtec Bag Palletizing by acquiring 100 per cent of its shares from the Newtec International Group SA. Newtec Bag Palletizing is a manufacturer of automatic palletising systems with headquarters in Illzach, France. It has over 1200 references, mainly in the chemical, agricultural and building materials industries. Newtec Bag Palletizing will be an independently operating Group company. This acquisition significantly strengthens the Hav...

Vision Holding raises stake in Pioneer Cement, Pakistan

25 May 2012, Published under Cement News

British Virgin Islands based - Vision Holdings Middle East Limited announced on that it will acquire 60,145,081 (26.47%) ordinary shares of Pakistan-based cement producer Pioneer Cement, at an offer price of PKR6.34 per share. Earlier it had held 21.61% shares in Pioneer. An official of Pioneer Cement told CemNet that Vision will gradually acquire 80-90% shares in due course to take control of the cement producer. By acquiring further shares in the Vision intends to improve Pioneer...

West China acquisition of Fuping Cement positive – Moody’s

10 May 2012, Published under Cement News

Moody's commented that West China Cement's (WCC) acquisition of Fuping Cement is credit positive for WCC (Ba3, negative). Fuping Cement owns a 2Mt cement production plant in Zhuangli town in Shaanxiand a 35% interest in Shifeng Cement which has a 2Mt plant in Caocun town, also in Shaanxi. WCC is also still completing the acquisition of a 65% interest in ShifengCement, which began in March 2012. Moody's said the issuance of HK$620m worth of new shares to acquire capacity will enhance its...