Cement News tagged under: Acquisition

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Siam City Cement acquires Cemex Bangladesh

28 July 2016, Published under Cement News

Siam 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 acquisition

27 July 2016, Published under Cement News

UK 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 2Q16

26 July 2016, Published under Cement News

Lafarge 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 Lanka

25 July 2016, Published under Cement News

Siam 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 Conch

22 July 2016, Published under Cement News

Anhui 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 News

Birla 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...

China: Jinyuan Cement to raise CNY1.36bn in private share placement

12 July 2016, Published under Cement News

Jinyuan Cement plans to raise up to CNY1.36bn (US$204m) in private placement of shares to fund a company acquisition, projects and repay bank loans. In June Jinyuan Cement bought a 51 per cent stake in a Jiangsu-based new materials technology firm from the Jinyuan Holding Group for CNY2.55m. Earlier this year Reuters said the company had scrapped a major asset restructuring plan. Jinyuan Cement reported revenues of CNY95.42m in 1Q16, up from CNY92.36m in 1Q15. The company’s net lo...

India: UltraTech concludes Jaypee deal

05 July 2016, Published under Cement News

UltraTech Cement has struck a deal to obtain the cement assets of Jaypee Group with a last-minute increase in acquisition price on Monday. UltraTech will purchase Jaypee Group’s cement operations, that have a total capacity of 17.2Mta spread across Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, for INR161.9bn (US$2.4bn). In addition to existing cement operations, UltraTech will also acquire the 4Mta grinding unit that is currently being constructed in Utt...

Sagar Cements acquires grinding unit from Toshali Cements

30 June 2016, Published under Cement News

Sagar Cements announced the acquisition of a grinding unit owned by M/s Toshali Cements Pvt Ltd for INR600m (USD8.88m). The assets consist of one grinding unit located at Bayyavaram, Vizag district, Andhra Pradesh with a capacity of 181,500tpa. Post acquisition, the company proposes to invest INR60m (US$0.89m) to increase the capacity of unit to 300,000tpa. The acquisition will enable the company to save its logistic cost and to introduce slag cement to cater markets in Visakhapatnam, V...

China National Building Materials (CNBM)

29 June 2016, Published under Cement News

China National Building Materials (CNBM) plans to become a shareholder in Eurocement Group, Russia’s leading producer of construction materials. The deal, which was signed in China on 25 June, is believed to be worth US$5bn. According to local press reports, the input of funds is destined for modernising Eurocement’s existing plants along with the construction of new dry-process production lines. Eurocement currently operates 19 cement plants across Russia, Ukraine and Uzbekistan with a c...