Cement News tagged under: Acquisition

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Cementos Molins cuts back in Spain while expanding in foreign markets

13 February 2013, Published under Cement News

As the Spanish construction crisis shows no sign of abatement, Cementos Molins expects to continue the adjustment in its Spanish workforce. The company’s vice-president and CEO Joan Molins said the company would be restructuring its operations, cutting back in Spain and increasingly shifting its focus to foreign markets.  He announced new projects in Uruguay, Brazil, Mexico and Tunisia. Over the past five years, the firm increased its number of employees abroad from 2500 to 3200.  In a...

Portland Valderrivas explores sale of Cemento Lemona to CRH

13 February 2013, Published under Cement News

Spain’s Cementos Portland Valderrivas is currently considering the sale of its Basque subsidiary Cementos Lemona to the Irish multinational CRH. Yesterday, CRH directors visited the facilities of Prefabricades Lemona. This follows a visit last month to the Lemona’s quarries and cement plant, according to Spanish daily El País. Sources indicate that after months of negotiation, the acquisition process is in its final stages although there has been no confirmation of the sale yet. Portla...

Tightening belts at CRH

09 January 2013, Published under Cement News

The Irish building materials company CRH Plc plans to make €300m in savings between 2013-15 by focussing on reducing energy costs, rationalising capacity and continuing its acquisitions programme. At 7Mta clinker capacity, the Shuangyang cement plant in Jilin province is the largest in northeastern China and part of the 26 per cent CRH-owned Yatai Cement With over 700 acquisitions to-date, growth through vertical integration has become synonymous with the success of Irish con...

IL&FS Trust Co ups stake in India’s Deccan Cement

21 November 2012, Published under Cement News

Deccan Cement reported that IL&FS Trust Company increased its stake in the Indian cement producer by 2.01% to 19.82%.  The transaction, understood to have taken place between February and November, added 1.4 lakh shares to the 1,247,000 shares already owned by IL&FS Trust Company.

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...