Cement News tagged under: Acquisition

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Al-Maslamia cement plant expected to be privatised

15 October 2019, Published under Cement News

The Al-Maslamia cement plant in northern Aleppo, Syria, has been the subject of negotiations between Katerji International Group and Syria's General Organisation for Cement and Building Materials. The 3Mta cement plant could be the first state plant to be privatised in a SYP200bn (US$3.9m) investment by the Katerji family. The Katerji International Group is owned by the brothers Husam, Mohammed and Baraa Katerji. The family intend to reconstruct property in and around Aleppo. Over the p...

International Cement cancels US$144m deal to buy Schwenk Namibia

30 September 2019, Published under Cement News

International Cement Group (ICG) has cancelled its proposed  US$10.4.4m acquisition of Schwenk Namibia, according to a bourse filing on Monday. The deal, first announced in March, was cancelled on 27 September 2019. The company had first extended the long stop date by six months to 31 January 2020 from 31 July 2019 to fulfil the deal’s closing conditions, according to The Straits Times. The extension came after the Singpore Exchange rejected the acquisition bid in June as Schwenk was not pr...

PPC

28 August 2019, Published under Cement News

South Africa’s PPC has failed to submit a bid for the Rwandan government’s 46 per cent stake in cement producer Cimerwa, forcing the government to seek an alternative investor. PPC had indicated it would be making a bid and was given until 5 July 2019 to do so. Cimerwa has been persistently underperforming for a number of years now, manufacturing just 364,864t of cement in 2018, despite its production capacity of 0.6Mta. Meanwhile, cement demand in Rwanda has grown steadily on the back of...

National Cement's acquisition of ARM blocked

22 July 2019, Published under Cement News

The acquisition of ARM Cement for US$50m by National Cement has hit a legal block. ARM's former CEO and leading shareholder, Pradeep Paunrana, has challenged the sale in the High Court, saying that ARM Cement has been undervalued and that his consortium had offered a bid of US$65m for ARM Cement. The administrator of the sale, PricewaterhouseCoopers (PwC), claims that the US$65m bid was turned down becasue it was not accompanied by proof of funds among other reasons. Instead, PwC approved t...

Government extends deadline for Cimerwa stake

18 July 2019, Published under Cement News

The Government of Rwanda has moved the deadline to sell its stake in Cimerwa from 5 to 19 July, with the extension providing a chance for more individual investors and companies to submit a proposal, according to the Rwanda Development Board. The government and its affiliates hold a 49 per cent stake in the company, while South Africa’s PPC is the majority shareholder at 51 per cent. The Rwandan government had initially given PPC an opportunity to buy the remaining shares . According to...

LafargeHolcim acquires Romanian precast concrete company

15 July 2019, Published under Cement News

LafargeHolcim has signed an agreement with ORESA to acquire Somaco, a Romanian precast concrete producer. Somaco has leading positions and operates five precast concrete plants and one plant for aerated blocks in Romania. Jan Jenisch, CEO of LafargeHolcim: "This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions and Products business segment as part of Strategy 2022 – 'Building for Growth'. The acquisition enables LafargeHolci...

NCLT approves Dalmia's acquisition of Murli Industries with conditions

11 July 2019, Published under Cement News

India’s Dalmia Cement (Bharat) has received approval from National Company Law Tribunal (NCLT) Mumbai regarding its offer to save Murli Industries from liquidation. However, the assembly has outlined certain conditions for the deal. The liquidation value of Murli’s assets is INR2.31bn (US$33.6m) while Dalmia has offered INR4.02bn for the acquisition of its 3Mta cement manufacturing business in Maharashtra. The offer will see banks receive INR3.8bn out of the INR27.83bn due, according to Th...

Indocement prepared to make plant acquisition in 2019

10 July 2019, Published under Cement News

Indocement Tunggal Prakarsa has noted that it is ready to make a cement plant acquisition this year if the opportunity arises.  "Indocement is in a position that is ready to make an acquisition if there is indeed a cement manufacturer with a strategic location that will be sold," said Antonius Marcos, director and corporate secretary. Mr Marcos explained that by acquiring a strategic cement plant, it could create a positive synergy and will continue to consider all opportunities availa...

Pioneer Cement backtracks on Galadari Cement acquisition

14 June 2019, Published under Cement News

Pioneer Cement Ltd (PCL) has withdrawn its interest to buy a local cement production facility that is under construction. Abid Wahab, company secretary of PCL in a written communication to Pakistan Stock Exchange (PSX) communicated that the Memorandum of Understanding (MoU) that signed with Galadari Cement (Gulf) Ltd (GCGL) in Oct 2017 to acquire later has been terminated. No reason was disclosed for this change of heart after more than one-and-half years since signing agreement to acquire...

IMP Automation Group boosts FLSmidth mining portfolio

04 June 2019, Published under Cement News

Following the approval of the competition authorities, IMP Automation Group has now officially become a part of FLSmidth. With the acquisition, first announced in February, FLSmidth completes its portfolio of automated laboratory solutions for the mining industry. "With the closing of the deal, we can now start the next phase in our product evolution. The benefits of the joint portfolio are immediately available to our customers, and our pipeline is strong. We are confident that our produc...