Cement News tagged under: CRH
CRH sees a 3% revenue increase in 3Q1721 November 2017, Published under Cement NewsCRH has reported a three per cent increase in revenue for the third quarter of 2017. The group's EBITDA has also risen two per cent YoY for the 3Q. The company’s trading performance has particularly benefitted from underlying growth in the Americas throughout the period. Elsewhere, the 3Q results from Europe have remained positively consistent with the rest of the year while performance in Asia has deteriorated. CRH has announced for the nine months of 2017 ended September, a two per cent... |
Karsdorf Cement plant sale to be abandoned20 November 2017, Published under Cement NewsSchwenk KG has abandoned its plans to acquire Opterra’s cement plant in Karsdorf, according to a press release by the Bundeskartellamt (Federal Cartel Office - FCO). The withdrawal of the notification also includes the purchase of the cement plant in Sötenich. "The merger was expected to significantly impede effective competition and would have had to be prohibited. With the acquisition of the plant in Karsdorf Schwenk would have gained a dominant position as a cement manufacturer in the ... |
CRH plans cash bid for PPC14 November 2017, Published under Cement NewsIreland’s CRH has registered its interest in submitting a cash bid for South African cement producer PPC as it takes on AfriSam and LafargeHolcim. While PPC did not disclose the amount of the bid, it said it would give the Irish group time for due diligence and to submit an updated bid next week which would include a value per share for the company. "Historically, it would have been unusual for CRH to enter a bidding situation for a listed company, given management's preference for pu... |
PPC01 November 2017, Published under Cement NewsOctober has seen the saga over PPC’s future continue to dominate the headlines. Last month saw AfriSam submit a merger deal, backed by Toronto-based Fairfax Financial Holdings. However, Prudential Investment Managers, which holds a 13-14 per cent stake in PPC, opposed the merger saying that the AfriSam deal undervalued PPC and that PPC’s share price would double in the next 3-4 years as operations across Africa ramp up. Visio Capital Management, which has a seven per cent share in PPC, th... |
Ash Grove Cement gives stockholder approval for CRH merger23 October 2017, Published under Cement NewsAsh Grove Cement Company has announced that its previous agreement for the merger with CRH plc, under which CRH plc will acquire Ash Grov Cement, has been approved by stockholders holding more than a majority of the outstanding voting stock, acting by written consent. Following execution of the CRH merger agreement, stockholders representing approximately 63.4 per cent of the outstanding voting stock delivered written consents approving the transaction, of which, consents representing appr... |
PPC is a new target for CRH13 October 2017, Published under Cement NewsCRH is among companies considering a counterbid for PPC that could trump an offer by Canada’s Fairfax Financial Holdings, according to Bloomberg sources. PPC’s future has been considering a merger with rival AfriSam Group failed and Toronto-based insurer Fairfax made a partial offer for ZAR2bn (US$149.5m) of PPC stock at ZAR5.75/share. PPC has a market value of ZAR11bn (€689m). Fairfax’s offer is conditional on PPC merging with AfriSam, and the South African company has appointed Invest... |
Thomas Gruppe to buy Gebr Seibel Zementwerke13 October 2017, Published under Cement NewsThomas Gruppe (revenues estimated at EUR300m) confirmed on Thursday 12 October 2017 that it was taking over Portland-Zementwerke Gebr Seibel GmbH & Co KG, in Germany, a family-run business headed by Heinrich and his son Hubertus Seibel. Gebr Seibel Zementwerk has encountered problems due to discount requirements of its main client, Cementbouw (CRH group), ie roughly 120,000t out of 600,000t produced annually. CRH demanded to be supplied based on a cut-rate price per tonne (EUR42/t). T... |
Summit Materials revealed as US$3.8bn bidder for Ash Grove Cement09 October 2017, Published under Cement NewsUS cement maker Summit Materials has been revealed as the US$3.8bn bidder for Ash Grove Cement, according to a Reuters' source. The bid was submitted last week to trump an earlier takeover bid from Irish building materials firm CRH Plc. Ash Grove said earlier on Friday that it had received a new bid from an unnamed party which valued the business at US$3.7-US$3.8bn . The source said Summit Materials’ bid was submitted on Thursday and is currently being considered by Ash Grove’s board... |
CRH back on the acquisition trail06 October 2017, Published under Cement NewsFinancial analysts have been predicting for some time that CRH was likely to hit the acquisition trail again to bolster its portfolio. The recent US focus to target Ash Grove Cement and Suwanee America Cement will reshape the North American cement landscape, subject to Ash Grove and Suwanee shareholder and regulatory approvals. Debt reduction The Irish company had been lowering its debt since the EUR7.8bn it shelled out on buying assets from former Lafarge and Holcim facilities in 201... |
Ash Grove Cement receives US$3.8bn takeover proposal06 October 2017, Published under Cement NewsCRH noted that an announcement by Ash Grove yesterday that the period for obtaining shareholder approval has been extended for its proposed acqusition. US cement maker Ash Grove Cement Co said on Thursday it received a larger takeover proposal valued at up to US$3.8bn, surpassing an earlier offer from Irish building materials firm CRH Plc. CRH said last month it agreed to buy Ash Grove for a total consideration of US$3.5bn. Ash Grove said the new bid valued at US$3.7-US$3.8bn was expected t... |