Cement News tagged under: Acquisition

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Hong Leong Asia makes takeover offer for Tasek Corp

13 May 2020, Published under Cement News

Hong Leong Asia, which currently holds an 88.16 per cent stake in Malaysia’s Tasek Corp through two subsidiaries, has reportedly launched an unconditional voluntary takeover offer to acquire the remaining shares for around MYR83.9m (US$19.35m). The company, via its HL Cement and Ridge Star subsidiaries, had sought to take Tasek private last year, according to The Business Times Singapore. Tasek moved from a net loss last year to an MYR4.19m profit in its 1Q20 results reported last wee...

Schwenk Zement acquires 100% shares of Celitement GmbH

14 April 2020, Published under Cement News

Schwenk Zement KG has taken over all shares of the previous fellow shareholders (including the Karlsruhe Institute of Technology) in Celitement GmbH and this has been backdated to 1 January 2020. From having been a Schwenk-affiliated company, Celitement GmbH became a full subsidiary of the well-established building materials group from Ulm.

 Celitement GmbH was founded in February 2009 and by autumn 2011 had a pilot plant erected on the KIT site (North Campus, Eggenstein-Leopoldshafen) t...

Nuvoco on a solid growth path

14 February 2020, Published under Cement News

A week ago, Emami Cement Ltd agreed the takeover by Nuvoco Vistas Corp (Nirma group) for its cement operations in India. The US$770.56m acquisition means that the Nirma group will add to its assets three grinding plants serving Orissa, Bihar and West Bengal, plus an integrated plant in Chhattisgarh, along with mining leases on 300Mt of limestone reserves with an expected lifespan of 60 years. Nirma beat rival bids from UltraTech, LafargeHolcim, and Star Cement for the Emami Cement assets. ...

Refratechnik Group acquires QMAG

17 January 2020, Published under Cement News

The Refratechnik Group has entered into a share purchase agreement to acquire 100 per cent of QMAG Ltd, an Australian magnesia producer. QMAG (Queensland Magnesia) is a fully-integrated producer of high-quality magnesia products with mining and production in the state of Queensland, Australia, servicing global markets with a combined production capacity greater than 300,000Mta of high-grade electro-fused (FM), dead-burned (DBM), and caustic-calcined (CCM) magnesium oxide products. By the ...

Pakistan's Popular Group acquires Dadabhoy Cement

13 December 2019, Published under Cement News

Popular Group of Pakistan has officially announced the purchase of a private-sector cement manufacturing facility in Sindh province of Pakistan.   The announcement says, "It is hereby notified for the information of general public that Dadabhoy Cement Factory has been purchased by Popular Group, and now its name has been changed to Popular Cement Industries (Pvt) Ltd."   Popular Cement Industries will start its cement production soon, the announcement concludes. The company's plant in Dadu ...

Titan buys back IFC minority stake in SE Europe/Egypt units

22 November 2019, Published under Cement News

Greece-based Titan said that its board of directors has approved the acquisition of the minority stakes held by the International Finance Corp in its units in Egypt and four countries of southeastern Europe for EUR81.8m. “This transaction will conclude Titan’s successful cooperation with IFC gradually established since 2008 in Albania, Egypt, Serbia, North Macedonia, and Kosovo,” the group said. The agreement is subject to fulfilment of conditions precedent, Titan said, adding that its p...

Cemento Progreso acquires Cemento Interoceánico

20 November 2019, Published under Cement News

Guatemala-based Cemento Progreso has bought a 100 per cent stake in Panamanian cement producer Cemento Interoceánico, according to Panamá América. In an internal communication to its staff, Cemento Interoceánico informed its personnel that labour conditions would remain the same and there would be no change of leadership.

Gansu Qilianshan Cement increase building materials stake to 80%

04 November 2019, Published under Cement News

Gansu Qilianshan Cement Group Co Ltd has agreed to buy an additional stake in Gansu Zhangye Julong Building Materials Co Ltd. Following the acquisition, Gansu Qilianshan Cement will hold a stake of around 80 per cent in the company. On 6 June 2019 Gansu Qilianshan Cement acquired an additional 22.78 per cent stake in Gansu Zhangye Julong Building Materials, up from 26 per cent initially.

Dalmia sees 5% hike in 2Q revenues

22 October 2019, Published under Cement News

Dalmia Bharat Cement reported consolidated revenues of INR22.85bn (US$322m) in the quarter ended 30 September 2019 (2QFY19-20), up 5.2 per cent when compared with INR21.73bn in the year-ago period. The company posted a consolidated profit of INR360m for the quarter ended 30 September 2019. In other news, the company said it plans to become a pan-India players with the acquisition of Murli Cement in Maharashtra and a a new plant in Rajasthan. This would enable Dalmia Bharat to enter the Mah...

Blackstone enters race for Emami Cement

16 October 2019, Published under Cement News

Blackstone Group Inc (KKR & Co) are reported to be contemplating a bid for Indian conglomerate Emami Group and Emami Cement Ltd. Bloomberg reports that TPG Capital is also considering a bid for Emami Cement Ltd and may seek a partner for the project. Emami Group has picked Arpwood Capital Ltd and Credit Suisse Group AG to supervise the sale of the cement unit, seeking a valuation of about US$1bn. The company operates three cement manufacturing plants in India and is setting up another one...