Cement News tagged under: Acquisition

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India Cements to acquire Springway Mining

05 December 2018, Published under Cement News

India Cements has entered into a share purchase agreement to acquire the entire shareholding of Springway Mining in a phased manner. On 3 December 2018 the company purchased the controlling stake of 51 per cent in the paid-up equity share capital of Springway Mining. The acquisition will support India Cements’ plans to set up a cement plant in Madhya Pradesh.

Raysut Cement to acquire stakes in Indian cement producers in 1Q19

04 December 2018, Published under Cement News

Raysut Cement of Oman plans to invest US$700m in the Indian cement market by 2022. The cement producer intends for approximately US$200m of this total to be invested in acquiring majority stakes in two Indian cement producers in 1Q19. The investment is part of the cement producer's plans to expand its overall production capacity to 20Mta, while the Muscat Securities Market-listed firm is also scouting for acquisitions in Africa, according to the Hindu Business Line. "We are in discussion...

Metso acquires Kiln Flame Systems Ltd

04 December 2018, Published under Cement News

Metso has acquired UK-based combustion solutions and technology provider Kiln Flame Systems Ltd (KFS) to extend its pyroprocessing portfolio and capabilities. KFS specialises in rotary kiln and calcining processes, combustion optimisation and burner technologies with patented designs. It provides solutions to a wide range of industries including minerals processing. KFS has 14 employees based in High Wycombe, UK. KFS will become part of Metso's Minerals Services business area, which offe...

Semen Indonesia mandates 5 banks for US$1.3bn bridge loan

03 December 2018, Published under Cement News

Semen Indonesia has mandated five banks for a US$1.282bn bridge loan to support its acquisition of the local unit of LafargeHolcim. BNP Paribas, Deutsche Bank’s Singapore branch, Maybank, MUFG Bank and Standard Chartered are the lead arrangers and bookrunners for the two-year loan, which will be launched into syndication in 2-3 weeks, according to a company announcement. The borrower agreed to acquire 80.6 per cent of Holcim Indonesia, one of the country’s largest cement producers from L...

LKAB Minerals is set to acquire Francis Flower

20 November 2018, Published under Cement News

LKAB Minerals of Sweden is working on a deal to complete the acquisition of Francis Flower by 3 December 2018. The Austrian Competition Authority gave clearance for the acquisition on 10 October. Francis Flower operates a 0.55Mta grinding unit for ground granulated blastfurnace slag (GGBS) cement in Scunthorpe, Lincolnshire, UK. The company also has five main storage locations and a network of remote storage silos, which provides an additional 15,000t of cement storage. Adrian Willmott, ch...

PT Semen Indonesia tightens grip on domestic market

16 November 2018, Published under Cement News

This week, LafargeHolcim agreed that PT Semen Indonesia (SMGR) was the successful bidder to buy its 80.6 per cent shareholding in PT Holcim Indonesia at a cost of US$917m. The agreement is subject to regulatory approvals, but SMGR, as a state entity, is not expected to be held up in its desire to extend its hold on the domestic cement market. Indonesia currently has 15 cement companies operating with a total capacity of 110Mta, of which 63 per cent is owned by foreign players. Throug...

Dandot Cement of Pakistan expects investment from new buyer

15 November 2018, Published under Cement News

In its newly-released 2018 annual report, Pakistan-based Dandot Cement Co says it has received a firm intention from Calicom Industries (Pvt) Ltd to acquire control and 63,542,787 voting shares (67 per cent of paid up capital) of the company. The new buyer is expected to invest in the modernisation of electrical equipment at its facilities.   The report adds that on 5 November 2018, the firm's majority shareholders have given the intention that they are entering into negotiations for sal...

Votorantim Cimentos sells 75% share in Shree Digvijay Cement

13 November 2018, Published under Cement News

Votorantim Cimentos has agreed the sale of its 75 per cent stake in Shree Digvijay Cement Co Ltd (SDCCL) to Indian private equity firm True North. The sale requires the completion of a mandatory open offer to the minority shareholders of SDCCL. The acquisition would add to True North's other investments in the building materials sector namely, RDC Concrete (“RDC”), a manufacturer of ready-mix concrete and Robo Silicon (“Robo”), a manufacturer of construction aggregates. Srikrishna Dwaram, ...

Aliko Dangote has targeted Kenyan producer believed to be ARM

09 November 2018, Published under Cement News

Dangote Cement is understood to be in talks to buy the troubled Kenyan cement maker ARM. This follows an interview of Aliko Dangote by Bloomberg News in which he said: "There is a company which... has operations in Tanzania, Kenya and Rwanda and we are talking to the company to see if we can take it over," said Mr Dangote. ARM was not named in the discussion, but it is the only cement producer operating in the three markets that were mentioned. ARM has integrated cement plants in Kalol...

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...