Cement News tagged under: Acquisition

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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...

Cemex

02 May 2017, Published under Cement News

Cemex will retain full ownership of Cemex Croatia as the European Commission has blocked its sale to HeidelbergCement-Schwenk joint venture, Duna-Drava Cement. Cemex Croatia operates three cement works, seven batching plants, two quarries and a number of terminals across Croatia, Montenegro and Bosnia-Herzegovina. Cemex' first-quarter turnover improved by 0.7 per cent to US$3136.6m, but EBITDA declined by 1.9 per cent to US$559.17m. The trading profit rose by 45 per cent to US$491.2m. The...

HeidelbergCement

02 May 2017, Published under Cement News

HeidelbergCement subsidiary, Cadman Materials, in the US has agreed to acquire the Pacific Northwest downstream activities of Cemex for around US$150m. The assets involved are in the states of Oregon and Washington and consist of seven quarries, five ready-mixed concrete plants and two asphalt plants. Together, these employ around 350 people.

Caribbean: TCL make takeover bid for Readymix (West Indies) Ltd

31 March 2017, Published under Cement News

Trinidad Cement Ltd (TCL), recently acquired by Mexican cement giant Cemex via its subsidiary Sierra Trading, has announced an all-cash takeover bid for Readymix (West Indies) Ltd. According to the offer circular sent to shareholders, TCL will pay TTD11 or US$1.62/share to acquire the outstanding shares that it does not already hold in Readymix. TCL currently owns 71.1 per cent of Readymix’s issued share capital or 8,531,977 shares of the company. The remaining 28.9 per cent of shares are ...

SCG Cement buys Vietnam Construction Materials

07 March 2017, Published under Cement News

Siam Cement Group’s wholly-owned subsidiary SCG Cement-Building Materials Co has acquired 100 per cent of Vietnam Construction Materials JSC, an integrated cement operator in central Vietnam. The US$440m enterprise value of this transaction includes net debt and additional efficiency improvement investment in the acquired assets. This deal brings SCG’s cement capacity across ASEAN outside Thailand to 10.5Mta, relative to its 23Mta capacity in Thailand.

South Korea: preferred bidders named in US$567m Hyundai deal

17 February 2017, Published under Cement News

Hanil Cement Company and LK Investment Partners have been named as the preferred bidders to acquire Hyundai Cement, reports South Korea's Pulse. The two firms submitted a bid of KRW650bn (US$567m) for an 84.56 per cent stake in Hyundai. The acquisition would make Hanil Cement the largest producer in South Korea, with a market share of more than 30 per cent. The bid values Hyundai at nearly 60 per more than its current market capitalisation of KRW486bn. A final deal is expected to be si...

USA: TAKRAF acquires bulk handling company

17 January 2017, Published under Cement News

Global mining and bulk material handling equipment supplier, TAKRAF, has acquired the assets of FMC Technologies' Material Handling Systems (FMC MHS) business unit based in Lansdale, Pennsylvania, USA. For over 100 years, FMC MHS has provided systems expertise by engineering, procuring, and construction assistance of complete material handling systems for a variety of industries, including mining, minerals, power and food. It also provides a line of proprietary equipment for rotary drying...