Cement News tagged under: Acquisition

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China United Cement seeks acquisition loan

08 February 2012, Published under Cement News

State-owned China United Cement Group Corp is seeking a CNY798m three-year loan for the acquisition of Daewoo Cement (Shandong) Co Ltd, a subsidiary of Daewoo International Corp, banking sources said. Bloomberg reports that several banks, including Chinese and foreign, are looking at the deal that is said to offer a margin of 110 per cent of the People’s Bank of China rate, Reuters reports.

Martin Marietta continues pursuit of Vulcan

26 January 2012, Published under Cement News

Martin Marietta Materials Inc, which began a hostile takeover of Vulcan Materials in December, released a list of five people it is pushing for election on Vulcan Materials' board of directors at Vulcan's annual meeting. North Carolina-based Martin Marietta filed a proxy statement with the Securities and Exchange Commission on Tuesday in connection with the proposal. It said in the statement it believes Vulcan's current board is not acting in the company's best interest.. "Vulcan refus...

Siam Cement closing in on Vietnam acquisition

26 January 2012, Published under Cement News

Thailand’s Siam Cement said on Wednesday it was interested in buying a stake in a Vietnam cement maker and expects to spend less than THB10bn (US$315m) on the acquisition, Reuters reports. Siam Cement, which has recently  noted that it is seeking acquisition opportunities in Southeast Asia, expects to conclude details about the deal in the second half of this year, according to Chief Executive Kan Trakulhoon. Earlier this week the company also said it is looking at opportunities in Myanm...

Tongli Cement acquisition, China

19 January 2012, Published under Cement News

Henan Tongli Cement plans to acquire 100 per cent of Yima Coal Industry (Group) Cement Co Ltd from its majority shareholder Yima Coal Industry (Group), Sinocast reports. In view of the fact that the target company’s net assets are estimated to be negative CNY15.68m, the equity transfer price is CNY1. However, because the cement company is heavily in debt, Tongli Cement will provide CNY440m entrusted loans before the equity transfer and inject an additional CNY300m after the acquisition. Yi...