Cement News tagged under: Acquisition

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Dandot Cement's losses depend in FY08

07 November 2018, Published under Cement News

Dandot Cement Company Ltd (DCCL) of Pakistan announced its financial results for the year ended 30 June 2018, declaring a net loss of PKR751.45m (US$5.62m) up by 42.4 per cent YoY, as compared to loss of PKR527.68m reported in the same period last year. DCCL's net sales decreased by 27.7 per cent to PKR1.3bn YoY, as compared to PKR1.8bn in the same period last year. The company incurred lower distribution expenses of PKR5.11m against PKR24.15m in the same period last year. The administr...

A new wave of Asian overseas expansion?

02 November 2018, Published under Cement News

This week CemNet reported on the announcement that Taiwan Cement is creating a new subsidiary, Dutch TCC Holdings, investing up to US$1.1bn in the new company. Dutch TCC Holdings is expected to enter a joint venture in Turkey with Ordu Yardimlasma Kurmu (Oyak) Holding, which will hold a 60 per cent share, while Dutch TTC Holdings will account for the balance of shares. TCC has acquired 40 per cent fo the shares of Oyak Çimento for a total value of US$640m. Oyak is reported to be willing t...

Vicat

01 November 2018, Published under Cement News

Vicat is taking a majority stake of around 65 per cent in the Brazilian cement producer Cimento Planalto through a EUR290m capital increase. Cimento Planalto operates a 3.2Mta cement works located not far from the capital Brasilia as well as nine concrete batching plants and five aggregates quarries.

Calicom Industries applies to acquire Dandot Cement

01 November 2018, Published under Cement News

Dandot Cement Co Ltd (DCCL) has informed Pakistan Stock Exchange that the company has received a firm intention from Calicom Industries (Pvt) Ltd, Lahore to its acquire control of DCCL and 63,542,787 voting shares (67 per cent of paid up capital) of DCCL beyond the thresholds prescribed under Section 111 of the Securities Act 2016 (the "Act"). This intention was notified to DCCL's board of directors on 31 October 2018, stated by Mr Muhamamd Kamran, Company Secretary to PSX. Calicom Ind...

UltraTech

30 October 2018, Published under Cement News

Shares in UltraTech Cement hit a 52-week low in late October following the announcement that the company has seen its consolidated net profit fall by 11 per cent YoY in 2QFY19. Net profit for the three-month period came in at INR3.76bn (US$51.29m), below analyst expectations. There was some good news as net sales advanced by 20 per cent YoY to INR81.11bn, but again this was lower than forecast. Meanwhile, the 23 per cent YoY increase in cement volumes predicted by analysts came in at just 21...

Buzzi Unicem

02 October 2018, Published under Cement News

Buzzi Unicem has signed an agreement with Grupo Ricardo Brennand to purchase a 50 per cent stake BCPAR. This will involve a capital outlay of BRL700m (EUR144m), half of which will come in the form of a capital increase. It is expected that the deal will be concluded by the end of the year. There will be an option to acquire the remainder of the share capital during the 2025-26 period. In 2017 BCPAR generated a turnover of BRL538m (EUR110m) and an EBITDA of BRL88m (EUR18m) when 2.7Mt of ce...

Cemex

02 October 2018, Published under Cement News

Cemex USA has acquired a limestone quarry at Chico, Texas, 45 miles from Fort Worth. The 122ha site is believed to have a further 25 years of supply and the acquisition will bring the number of Texan quarries up to five. Cemex USA also has a cement works and 30 concrete batching plants in the state.   

LafargeHolcim acquires leading Texan ready-mix concrete company

04 July 2018, Published under Cement News

LafargeHolcim has acquired Tarrant Concrete, a leading providing of ready-mix concrete in the Dallas/Fort-Worth area in Texas, USA. Jan Jenisch, CEO of LafargeHolcim: “The acquisition of Tarrant Concrete follows our Strategy 2022 – ‘Building for Growth’ by capturing growth opportunities in our most attractive markets. By being highly complementary to our existing business, Tarrant Concrete will allow us to expand our ability to serve customers in a high growth area of Texas. I very much we...

Mega Conglomerate withdraws bid to acquire Dewan Cement

03 July 2018, Published under Cement News

Pakistan’s Mega Conglomerate Private Ltd (MCPL) has reportedly withdraw its bid to buy controlling shares in two plants of Dewan Cement based in Dhabeji, Sindh and Hattar Industrial Estate, Khyber Pakhtunkhwa. The two facilities have a combined capacity of 2.89Mta. Dewan Cement is yet to comments on failure of the deal, but markets predict it may be due to high prices and change in dynamic of cement industry in country. BMA Capital has informed Pakistan Stock Exchange (PSX) that in capa...

Shree Cement budgets for United Cement acquisition

12 June 2018, Published under Cement News

Shree Cement plans a capital expenditure of INR35,000m (US$519.1m) in the current financial year including INR20,000m on the completion of the deal to acquire UAE-based United Cement Co PSC. The management of Shree Cement, led by managing director HM Bangur, has historically avoided taking over existing capacity because it is of the view that it can set up plants ground up at a much lower cost, reported Livemint. Shree will spend at least INR15,000m in the current financial year to acquire...