Cement News tagged under: Acquisition

RSS feed

Pioneer Cement to acquire Galadari Cement

06 October 2017, Published under Cement News

Pioneer Cement Company Ltd (PIOC) in a stock filing informed that it has signed a Memorandum of Understanding with sponsors of Galadari Cement (GULF) Ltd (GCGL) to acquire 100 per cent stake of the company. GCGL was incorporated in 1980 with acquisition of land at District Hub, in Baluchistan province of Pakistan, while formal construction of plant had begun during 1998. The plant's main equipment was procured from European manufacturers. However, due to legal and inheritance issues the ...

CRH said to be closing in on Suwanee America acquisition

03 October 2017, Published under Cement News

CRH Plc is nearing an agreement to acquire Florida-based cement company Suwannee American Cement LLC from Votorantim Cimentos SA and Anderson Columbia Co, according to Bloomberg. The companies could announce an agreement this week, acording to the news seervice cources. The deal may value Suwannee at about US$750m. While talks are advanced, they could still be delayed or fall apart and the valuation could change. The planned acquisition follows a string of deals for CRH, which last month a...

Summit Materials could be swept up in US consolidtion trend

02 October 2017, Published under Cement News

As the cement sector continues to consolidate, the number of potential targets with values of more than US$1bn (EUR842m) will continue to fall and quite possibly, Summit Materials will see its position change from being an acquirer of companies - to being a target, reports the Sunday Independent. Follwing, CRH's recent move to acquire US company Ash Grove Cement for US$3.5bn and Martin Marietta's US$1.6bn (EUR1.3bn) payment for Bluegrass Materials, a leading aggregates company, investo...

CRH agrees US$3.5bn acquisition of Ash Grove Cement

21 September 2017, Published under Cement News

CRH plc has reached an agreement to buy US-based Ash Grove Cement Co for US$3.5bn. The proposed transaction is subject to Ash Grove shareholder and regulatory approvals and will be financed through existing financial resources. The transaction is expected to close around year end 2017. Albert Manifold, Chief Executive of CRH, commented: “Ash Grove is an excellent addition to CRH’s portfolio of businesses across North America as we seek to deploy our capital into high quality businesses tha...

Four-bidder shortlist for Halla Cement stake

19 September 2017, Published under Cement News

Four bidders have been shortlisted for the full stake in South Korea’s Halla Cement, the country’s fourth-largest cement producer. Hong Kong-based Baring Private Equity Asia, the largest shareholder of Halla Cement, and its sales advisor Citigroup Global Market Securities Korea have shortlisted four potential buyers: three strategic investors – Asia Cement Co, Sungshin Cement Co and Aju Corporation Co – and private equity fund LK Investment Partners. Last week a total of six investors ini...

Dangote confirms "preliminary talks" with PPC

15 September 2017, Published under Cement News

Talks between Dangote Cement and PPC regarding the possible acquisition of PPC by Dangote are in a "preliminary stage", according to the Nigeria-based cement producer, confirming news reports earlier this week . If successful, Dangote Cement would extend its presence in South Africa. Currently the company owns a 64 per cent stake in Sephaku Cement. "DCP (Dangote Cement Plc) hereby confirms that the board of directors of DCP has merely communicated its interest to the board of directors o...

Cementos Argos

24 July 2017, Published under Cement News

The US Federal Trade Commission (FTC) has finally approved Argos USA’s purchase of the Essroc cement plant in Martinsburg, eight cement terminal in the mid-Atlantic and related assets from HeidelbergCement and Italcementi. Argos USA is a subsidiary of Cementos Argos. The US$660m deal was first announced in August 2016 and expected to conclude in the 4Q16. However, concerns raised by the FTC over what impact the transaction might have on competition in the region prompted a public comment ...

Unacem acquires Hormigonera Quito

20 July 2017, Published under Cement News

Peru-based Unacem has bought a 100 per cent stake in concrete producer Hormigonera Quito of Ecuador. Hormigonera Quito operates two industrial plants - one north of Quito on a 16,000m 2 site and another one to the south on a 22,000m 2 plot. The concrete manufacturer was established in 1984 and is part of the American Concrete Institute, the Ecuadorian Chamber of Construction and Industry Chamber.

Buzzi Unicem

03 July 2017, Published under Cement News

Buzzi Unicem is expanding its position in northen Italy with the acquisition of Cementizillo SpA. The acquisition entails 47.9 per cent of Cementizillo’s share capital and the remaining 52.1 per cent will be purchased from A G Zillo, the sole director, in early July. Some of the purchase price of EUR60m will be deferred, but only in respect of Mr Zillo, and an additional amount may become payable if the average cement price over the 2017 – 2020 period were to exceed a certain level. Cemen...

Financier acquires 11% stake in Ecocem

05 June 2017, Published under Cement News

Financier Dermot Desmond is reported to have acquired a stake in Ecocem Materials, the low-carbon cement producer founded by Irishman Donal O’Riain and backed by Saint-Gobain. Ecocem holds a 70 per cent stake in a EUR30m 2Mta plant venture with ArcelorMittal and has three cement plants at Ringsend (Ireland), Moerdijk (The Netherlands) and Fos-sur-Mer (France) Via his private equity company, IIU, Mr Desmond is believed to be acquiring as much as 11 per cent of shares, possibly from the Durk...