Cement News tagged under: Acquisition
India: My Home Industries set for 10Mta capcity01 September 2016, Published under Cement NewsWith its 1.5Mta Tuticorin plant, Tamil Nadu, expected to be commissioned in January 2017, My Home Industries is set to see its production capacity increase to 10Mta. Speaking of its ambitions in the sector, J Rameswar Rao, chairman of My Home Industries, said, “We want to go in for acquisitions in north, central and western India to further increase the capacities.” My Home Industries became a major player in the sector following its acquisition of Shriram EPC’s 3.2Mta plant in Kurnool... |
China: Socam to sell part of its stake in Nanjing Jiangnan Cement30 August 2016, Published under Cement NewsSocam Development is to sell a 35 per cent stake in Nanjing Jiangnan Cement to property developer Country Garden for CNY147.6m (US$22m), Etnet reports. Socam Development will retain a 25 per cent stake in Nanjing Jiangnan, and intends to sell this to Country Garden at a later date. |
Birla completes acquisition of Reliance Cement23 August 2016, Published under Cement NewsBirla Corporation announced that is has completed the acquisition of Reliance Infrastructure subsidiary, Reliance Cement. The deal was valued at about INR48bn (US$715.6m). Reliance Cement becomes a wholly-owned subsidiary of Birla, whose production capacity now reaches 15.4Mta, up from 9.8Mta, as a result of the deal. Reliance Cement operates a 5.08Mta integrated capacity at Maihar (Madhya Pradesh) and Kundanganj (Uttar Pradesh) as well as a 0.5Mta grinding unit at Butiburi (Maharashtra).... |
UltraTech Cement02 August 2016, Published under Cement NewsUltraTech has at last agreed terms with Jaypee Group for the acquisition of Jaypee’s cement interests. UltraTech is paying some US$2400m for the acquisition of 17.2Mta of cement capacity across five states as well as a 4Mta grinding plant currently under construction in Uttar Pradesh. The deal still requires the approval of shareholders, creditors hand the High Court and should be completed within 12 months. UltraTech has recently commissioned a new grinding centre at Pataliputra in Bihar... |
Siam City Cement acquires Cemex Bangladesh28 July 2016, Published under Cement NewsSiam City Cement, one of Thailand’s largest cement producers, acquired Cemex Cement Bangladesh Ltd on Tuesday. The Cemex operations are now known as Siam City Cement (Bangaldesh) Ltd. A statement released by the company read, “Siam City Cement (Bangladesh) Limited aspires to bring regional experiences from the past and would like to shake hands with the potential prospects of the Bangladeshi Cement market. It believes in cementing relationship with all the relevant stakeholders and would l... |
UK CMA gives final clearance in Breedon’s Hope acquisition27 July 2016, Published under Cement NewsUK Competition and Markets Authority (CMA) has cleared Breedon to acquire Hope Construction Materials following its acceptance of Breedon’s undertakings in lieu of a reference to a Phase 2 investigation in respect of its proposed acquisition of Hope. Breedon had proposed undertakings to the CMA to divest 14 readymix sites to an up-front buyer approved by the CMA. Following the clearance, Breedon now expects the acquisition to complete on 1 August 2016. Commenting on the announcement ... |
Lafarge Africa in 2Q1626 July 2016, Published under Cement NewsLafarge Africa Plc has released its financial results for 2Q16, reporting a total revenue of NGN107bn (US$344.9m). Cost of sales stood at NGN92.2bn (US$297.3m), down from NGN98bn (US$315.9m) in the same period last year and administrative/distribution and other expenses dropped to NGN12.2bn (US$39.3m) from NGN4bn (US$45.1m). The company’s revenue of NGN30.8bn (US$99.3m) fell by NGN28.5bn (US$91.9m) due to foreign exchange loss after the naira’s devaluation. The company also suffered diminish... |
Siam City Cement to acquire Holcim Lanka25 July 2016, Published under Cement NewsSiam City Cement (SCC) has signed a deal to buy Sri Lankan cement company Holcim Lanka Ltd for US$400m. The acquisition will turn SCC into the market leader in Sri Lanka. SCC is anticipating that the acquisition of the 98.95 per cent stake in Holcim Lanka will be completed within two weeks of the date of agreement, while LafargeHolcim have said the transaction will be completed in 3Q16. SCC will use credit facilities from Bank of Tokyo-Mitsubishi UFJ to fund the purchase. This latest ... |
Anhui Conch22 July 2016, Published under Cement NewsAnhui Conch has missed out on the chance to acquire Lafarge India, despite its offer of INR95bn (US$1.4bn) coming in higher than the winning bid. A deal was finally struck with Nirma Ltd at INR94bn, but this remains subject to approval by the Competition Commission of India (CCI). The transaction includes three cement plants and two grinding station with a total capacity of 11Mta. A number of articles have examined why Anhui Conch was unsuccessful with one by Mint dismissing rumours that... |
India: UltraTech to complete Jaypee acquisition ‘in next 12 months’20 July 2016, Published under Cement NewsBirla Group chairman, Kumar Mangalam Birla, told his firm's annual general meeting that its UltraTech Cement subsidiary should complete its acquisition of Jaypee Cement within the next 12 months, the Economic Times reports. The deal, which will see UltraTech acquire cement production capacity of 21.2Mta, was agreed earlier this month, despite efforts from Jaypee’s creditors that saw them convert debt into equity. On completion, UltraTech – already India’s largest producer – will contro... |